M Inbox - X M Inbox - X BU Sakai : X Bb My Gra X Messe X V Roth v: X P CAS CS X E CS101 x| $14221 x Thesal X Gradec X Assign X *Homel X + X F- CD ezto.mheducation.com/hm.tpx?todo=c15SinglePrintView&singleQuestionNo=1.&postSubmissionView=13252712852006521&wid=13252712851832270&role=student&pid=23416351_38... ABP Apps G Google Bank of America - BU Questrom Tools BU BU Student Link Bb Blackboard e AC445 Book Connect P CS101 Piazza # GroupMe ull Gradescope Zoom Classes Other bookmarks Mast Corporation seeks your assistance in developing cash and other budget information for May, June, and July. At April 30, the company had cash of $11,000, accounts receivable of $874,000, inventories of $618,800, and accounts payable of $266, 110. The budget is to be based on the following assumptions. Each month's sales are billed on the last day of the month. . Customers are allowed a 2 percent discount if payment is made within 10 days after the billing date. Receivables are recorded in the accounts at their gross amounts (not net of discounts). The billings are collected as follows: 70 percent within the discount period, 15 percent by the end of the month, and 12 percent by the end of the following month. Three percent is uncollectible. Purchase data are as follows. . Of all purchases of merchandise and selling, general, and administrative expenses, 60 percent is paid in the month purchased and the remainder in the following month. The number of units in each month's ending inventory equals 120 percent of the next month's units of sales. . The cost of each unit of inventory is $10. Selling, general, and administrative expenses, of which $4,000 is depreciation, equal 15 percent of the current month's sales. . Actual and projected sales follow: Dollars Units March $708,000 11,800 April 726,000 12, 100 May 714,000 11,900 June 684,000 11,400 July 720,000 12,000 August 732,000 12,200 Required: a. Compute the budgeted purchases in dollars for May. b. Compute the budgeted purchases in dollars for June. c. Compute the budgeted cash collections during May. d. Compute the budgeted cash disbursements during June. e. Compute the budgeted number of units of inventory to be purchased during July. a. Budgeted purchases for May b Budgeted purchases for June C . Budgeted cash collections during May d. Budgeted cash disbursements during June e . Budgeted number of units during July Type here to search OF MO P A XI WI DO 1:06 PM 4/3/2020
