only few accounting questions, but need to be done in an hour and needs to be correct, thanks!

E7-33 Lighting Supply plans inventory levels (at cost) at the end of each month as follows: MayMay, $ 271 comma 000$271,000; JuneJune, $ 229 comma 000$229,000; JulyJuly, $ 202 comma 000$202,000; and AugustAugust, $ 243 comma 000$243,000. Sales are expected to be JuneJune, $ 450 comma 000$450,000; JulyJuly, $ 364 comma 000$364,000; and AugustAugust, $ 304 comma 000$304,000. Cost of goods sold is 55 %55% of sales. Purchases in AprilApril were $ 266 comma 000$266,000 and in MayMay they were $ 192 comma 000$192,000. Payments for each month's purchases are made as follows: 15 %15% during that month, 75 %75% the next month, and the final 10 %10% the next month. Requirement 1. Prepare budget schedules for June, July and August for purchases. Disbursements for purchases 15% of this months purchases 75% of last months purchases 10% of second-last months purchases Disbursements for purchases Need to answer highlights June $30825 144000 26600 $201425 July ? ? ? ? August ? ? ? ? E7-31 Need to answers in last pics Fam7-A1 Need to answers in last pic P8-43 Need to answer boxes in last pic P8-44 last two choose questions. Radiant Lighting Supply plans inventory levels (at cost) at the end of each month as follows: May, $271,000; June, $229,000; July, $202,000; and August, $243,000. Sales are expected to be June, $450,000; July, $364,000; and August, $304,000. Cost of goods sold is 55% of sales. Purchases in April were $266,000 and in May they were $192,000. Payments for each month's purchases are made as follows: 15% during that month, 75% the next month, and the nal 10% the next month. Requirement 1. Prepare budget schedules for June, July, and August for purchases and for disbursements for purchases. Prepare budget schedules for June, July, and August for purchases. Purchases budget June July August Desired ending inventory $ 229,000 $ 202,000 $ 243,000 247,500 200,200 167,200 Plus: Cost of goods sold Total merchandise needed $ 475,500 $ 402200 $ 410,200 Less: Beginning inventory (271 '000) (229'000) (202'000) $ 205,500 $ 173,200 $ 208,200 Required purchases Prepare budget schedules for June, July, and August for disbursements for purchases. (Round your answers to the nearest whole dollar.) Exercise 7-33 Purchases budget Desired ending inventory Cost of goods sold Total merchandise needed Beginning inventory Required purchases April Purchases disbursements From two months prior From one month prior From the current month April May November 130,000 December 153,000 266,000 May 192,000 June 229,000 247,500 476,500 (271,000) 205,500 June 26,600 144,000 30,825 201,425 Exercise 7-31 Credit sales Cash sales Cash From From From sales sales from 2 months prior sales from 1 month prior current month sales January 142,100 60,900 203,000 60,900 13,000 38,250 92,365 204,515 Fam7-A1 Credit sales Cash sales Total sales For current month sales For sales from 1 month prior For sales from 2 months prior Total collections from customers P8-43 88,000 112,000 June 176,000 44,000 220,000 44,000 67,200 35,200 146,400 July 202,000 200,200 402,200 (229,000) 173,200 August 243,000 167,200 410,200 (202,000) 208,200 July 19,200 154,125 25,980 199,305 August 20,550 129,900 31,230 181,680 February 158,200 67,800 226,000 March 172,200 73,800 246,000 67,800 15,300 35,525 102,830 221,455 73,800 14,210 39,550 111,930 239,490 July 112,000 28,000 140,000 August 144,000 36,000 180,000 28,000 105,600 44,800 178,400 36,000 67,200 70,400 173,600 Exercise 7-33 Purchases budget Desired ending inventory Cost of goods sold Total merchandise needed Beginning inventory Required purchases April May Purchases disbursements From two months prior From one month prior From the current month April May November 130,000 December 153,000 266,000 June 229,000 247,500 476,500 (271,000) 205,500 192,000 June 26,600 144,000 30,825 201,425 Exercise 7-31 Credit sales Cash sales Cash From From From January 142,100 60,900 203,000 sales sales from 2 months prior sales from 1 month prior current month sales 60,900 13,000 38,250 92,365 204,515 Fam7-A1 Credit sales Cash sales Total sales 88,000 June 176,000 44,000 220,000 112,000 For current month sales For sales from 1 month prior For sales from 2 months prior Total collections from customers 44,000 67,200 35,200 146,400 Next, prepare a schedule showing the budgeted monthly purchases for May through Augus Schedule c: Purchases budget Schedule c: Purchases budget May June Desired purchases ? ? July ? August ? July 202,000 200,200 402,200 (229,000) 173,200 August 243,000 167,200 410,200 (202,000) 208,200 July 19,200 154,125 25,980 199,305 August 20,550 129,900 31,230 181,680 February 158,200 67,800 226,000 March 172,200 73,800 246,000 67,800 15,300 35,525 102,830 221,455 73,800 14,210 39,550 111,930 239,490 July 112,000 28,000 140,000 August 144,000 36,000 180,000 28,000 105,600 44,800 178,400 36,000 67,200 70,400 173,600 ses for May through August. Exercise 7-33 Purchases budget Desired ending inventory Cost of goods sold Total merchandise needed Beginning inventory Required purchases April Purchases disbursements From two months prior From one month prior From the current month April May November 130,000 December 153,000 266,000 May 192,000 June 229,000 247,500 476,500 (271,000) 205,500 June 26,600 144,000 30,825 201,425 Exercise 7-31 Credit sales Cash sales Cash From From From sales sales from 2 months prior sales from 1 month prior current month sales January 142,100 60,900 203,000 60,900 13,000 38,250 92,365 204,515 Fam7-A1 Credit sales Cash sales Total sales 88,000 112,000 For current month sales For sales from 1 month prior For sales from 2 months prior Total collections from customers June 176,000 44,000 220,000 44,000 67,200 35,200 146,400 P8-43 Actual Cost Incurred: Actual Inputs x Actual Prices Flexible Budget Based on Actual Inputs x Standard Prices Flexible Budget Based on Standard Inputs Allowed for Actual Outputs Achieved x Standard Prices Direct labor Price variance | Quantity variance Flexible budget variance 1,361,360 1,428,000 66,640 F 108,000 U 41,360 U 1,320,000 P8-44 Requirement 1 (e, f) Actual Cost Incurred: Actual Inputs x Actual Prices Flexible Budget Based on Actual Inputs x Standard Prices Variable CHF 70,950 66,150 Spending variance | Efficiency variance 4,800 U 4,900 U Flexible budget variance 9,700 U Requirement 2 (a) Flexible Budget Based on Standard Inputs Allowed for Actual Outputs Achieved x Standard Prices 61,250 July 202,000 200,200 402,200 (229,000) 173,200 August 243,000 167,200 410,200 (202,000) 208,200 July 19,200 154,125 25,980 199,305 August 20,550 129,900 31,230 181,680 February 158,200 67,800 226,000 March 172,200 73,800 246,000 67,800 15,300 35,525 102,830 221,455 73,800 14,210 39,550 111,930 239,490 July 112,000 28,000 140,000 August 144,000 36,000 180,000 28,000 105,600 44,800 178,400 36,000 67,200 70,400 173,600 Exercise 7-33 Purchases budget Desired ending inventory Cost of goods sold Total merchandise needed Beginning inventory Required purchases April Purchases disbursements From two months prior From one month prior From the current month April May November 130,000 December 153,000 266,000 May 192,000 June 229,000 247,500 476,500 (271,000) 205,500 June 26,600 144,000 30,825 201,425 Exercise 7-31 Credit sales Cash sales Cash From From From sales sales from 2 months prior sales from 1 month prior current month sales January 142,100 60,900 203,000 60,900 13,000 38,250 92,365 204,515 Fam7-A1 Credit sales Cash sales Total sales 88,000 112,000 For current month sales For sales from 1 month prior For sales from 2 months prior Total collections from customers June 176,000 44,000 220,000 44,000 67,200 35,200 146,400 P8-43 Actual Cost Incurred: Actual Inputs x Actual Prices Flexible Budget Based on Actual Inputs x Standard Prices Flexible Budget Based on Standard Inputs Allowed for Actual Outputs Achieved x Standard Prices Direct labor Price variance | Quantity variance Flexible budget variance 1,361,360 1,428,000 66,640 F 108,000 U 41,360 U 1,320,000 P8-44 Requirement 1 (e, f) Actual Cost Incurred: Actual Inputs x Actual Prices Flexible Budget Based on Actual Inputs x Standard Prices Variable CHF 70,950 66,150 Spending variance | Efficiency variance 4,800 U 4,900 U Flexible budget variance 9,700 U Flexible Budget Based on Standard Inputs Allowed for Actual Outputs Achieved x Standard Prices 61,250 Requirement 2 (a) The budget allowance under standard costing for variable costs depends on output. Therefore, the direct-labor budget for 3,500 units is CHF4,375. July 202,000 200,200 402,200 (229,000) 173,200 August 243,000 167,200 410,200 (202,000) 208,200 July 19,200 154,125 25,980 199,305 August 20,550 129,900 31,230 181,680 February 158,200 67,800 226,000 March 172,200 73,800 246,000 67,800 15,300 35,525 102,830 221,455 73,800 14,210 39,550 111,930 239,490 July 112,000 28,000 140,000 August 144,000 36,000 180,000 28,000 105,600 44,800 178,400 36,000 67,200 70,400 173,600 on output. Exercise 7-33 Purchases budget Desired ending inventory Cost of goods sold Total merchandise needed Beginning inventory Required purchases April Purchases disbursements From the current month From one month prior From two months prior April May November 130,000 December 153,000 266,000 May 192,000 June 229,000 247,500 476,500 (271,000) 205,500 June 30,825 144,000 26,600 144,000 Exercise 7-31 Credit sales Cash sales Cash From From From sales current month sales sales from 1 month prior sales from 2 months prior January 142,100 60,900 203,000 60,900 92,365 38,250 13,000 191,515 Fam7-A1 Credit sales Cash sales Total sales 88,000 112,000 For current month sales For sales from 1 month prior For sales from 2 months prior Total collections from customers June 176,000 44,000 220,000 44,000 67,200 35,200 146,400 Next, prepare a schedule showing the budgeted monthly purchases for May through Augus Schedule c: Purchases budget Schedule c: Purchases budget May June Cost of good sold 70,400 89,600 140,800 Desired purchases 89,600 140,800 89,600 P8-43 Actual Cost Incurred: Actual Inputs x Actual Prices Direct labor Price variance | Quantity variance Flexible budget variance Flexible Budget Based on Actual Inputs x Standard Prices 1,361,360 1,428,000 66,640 F 108,000 U 41,360 U Flexible Budget Based on Standard Inputs Allowed for Actual Outputs Achieved x Standard Prices 1,320,000 P8-44 Requirement 1 (e, f) Actual Cost Incurred: Actual Inputs x Actual Prices Flexible Budget Based on Actual Inputs x Standard Prices Variable CHF 70,950 66,150 Spending variance | Efficiency variance 4,800 U 4,900 U Flexible budget variance 9,700 U Flexible Budget Based on Standard Inputs Allowed for Actual Outputs Achieved x Standard Prices 61,250 Requirement 2 (a) The budget allowance under standard costing for variable costs depends on output. Therefore, the direct-labor budget for 3,500 units is CHF4,375. July 202,000 200,200 402,200 (229,000) 173,200 August 243,000 167,200 410,200 (202,000) 208,200 July 25,980 154,125 19,200 154,125 August 31,230 129,900 20,550 129,900 February 158,200 67,800 226,000 March 172,200 73,800 246,000 67,800 102,830 35,525 15,300 206,155 73,800 111,930 39,550 14,210 225,280 July 112,000 28,000 140,000 August 144,000 36,000 180,000 28,000 105,600 44,800 178,400 36,000 67,200 70,400 173,600 ses for May through August. July August 89,600 115,200 115,200 on output. Exercise 7-33 Purchases budget Desired ending inventory Cost of goods sold Total merchandise needed Beginning inventory Required purchases April Purchases disbursements From the current month From one month prior From two months prior April May November 130,000 December 153,000 266,000 May 192,000 June 229,000 247,500 476,500 (271,000) 205,500 June 30,825 144,000 26,600 144,000 Exercise 7-31 Credit sales Cash sales Cash From From From sales current month sales sales from 1 month prior sales from 2 months prior January 142,100 60,900 203,000 60,900 92,365 38,250 13,000 191,515 Fam7-A1 Credit sales Cash sales Total sales 88,000 112,000 For current month sales For sales from 1 month prior For sales from 2 months prior Total collections from customers June 176,000 44,000 220,000 44,000 67,200 35,200 146,400 Next, prepare a schedule showing the budgeted monthly purchases for May through Augus Schedule c: Purchases budget Schedule c: Purchases budget May June Cost of good sold 70,400 89,600 140,800 Desired purchases 89,600 140,800 89,600 Missing answrs for P8-43, pic on the right P8-43 Actual Cost Incurred: Actual Inputs x Actual Prices Direct labor Price variance | Quantity variance Flexible budget variance Flexible Budget Based on Actual Inputs x Standard Prices 1,361,360 1,428,000 66,640 F 108,000 U 41,360 U Flexible Budget Based on Standard Inputs Allowed for Actual Outputs Achieved x Standard Prices 1,320,000 P8-44 Requirement 1 (e, f) Actual Cost Incurred: Actual Inputs x Actual Prices Flexible Budget Based on Actual Inputs x Standard Prices Variable CHF 70,950 66,150 Spending variance | Efficiency variance 4,800 U 4,900 U Flexible budget variance 9,700 U Flexible Budget Based on Standard Inputs Allowed for Actual Outputs Achieved x Standard Prices 61,250 Requirement 2 (a) The budget allowance under standard costing for variable costs depends on output. Therefore, the direct-labor budget for 3,500 units is CHF4,375. Wrong answer July 202,000 200,200 402,200 (229,000) 173,200 August 243,000 167,200 410,200 (202,000) 208,200 July 25,980 154,125 19,200 154,125 August 31,230 129,900 20,550 129,900 February 158,200 67,800 226,000 March 172,200 73,800 246,000 67,800 102,830 35,525 15,300 206,155 73,800 111,930 39,550 14,210 225,280 July 112,000 28,000 140,000 August 144,000 36,000 180,000 28,000 105,600 44,800 178,400 36,000 67,200 70,400 173,600 ses for May through August. July August 89,600 115,200 115,200 on output. Exercise 7-33 Purchases budget Desired ending inventory Cost of goods sold Total merchandise needed Beginning inventory Required purchases April Purchases disbursements From the current month From one month prior From two months prior April May November 130,000 December 153,000 266,000 May 192,000 June 229,000 247,500 476,500 (271,000) 205,500 June 30,825 144,000 26,600 144,000 Exercise 7-31 Credit sales Cash sales Cash From From From sales current month sales sales from 1 month prior sales from 2 months prior January 142,100 60,900 203,000 60,900 92,365 38,250 13,000 191,515 Fam7-A1 Credit sales Cash sales Total sales 88,000 112,000 For current month sales For sales from 1 month prior For sales from 2 months prior Total collections from customers June 176,000 44,000 220,000 44,000 67,200 35,200 146,400 Next, prepare a schedule showing the budgeted monthly purchases for May through Augus Schedule c: Purchases budget Schedule c: Purchases budget May June Cost of good sold 70,400 89,600 140,800 Desired purchases 89,600 140,800 89,600 P8-43 Actual Cost Incurred: Actual Inputs x Actual Prices Direct labor Price variance | Quantity variance Flexible budget variance Flexible Budget Based on Actual Inputs x Standard Prices 1,361,360 1,428,000 66,640 F 108,000 U 41,360 U Flexible Budget Based on Standard Inputs Allowed for Actual Outputs Achieved x Standard Prices 1,320,000 P8-44 Requirement 1 (e, f) Actual Cost Incurred: Actual Inputs x Actual Prices Flexible Budget Based on Actual Inputs x Standard Prices Variable CHF 70,950 66,150 Spending variance | Efficiency variance 4,800 U 4,900 U Flexible budget variance 9,700 U Flexible Budget Based on Standard Inputs Allowed for Actual Outputs Achieved x Standard Prices 61,250 Requirement 2 (a) The budget allowance under standard costing for variable costs depends on output. Therefore, the direct-labor budget for 3,500 units is CHF4,375. July 202,000 200,200 402,200 (229,000) 173,200 August 243,000 167,200 410,200 (202,000) 208,200 July 25,980 154,125 19,200 154,125 August 31,230 129,900 20,550 129,900 February 158,200 67,800 226,000 March 172,200 73,800 246,000 67,800 102,830 35,525 15,300 206,155 73,800 111,930 39,550 14,210 225,280 July 112,000 28,000 140,000 August 144,000 36,000 180,000 28,000 105,600 44,800 178,400 36,000 67,200 70,400 173,600 ses for May through August. July August 89,600 115,200 115,200 on output. Exercise 7-33 Purchases budget Desired ending inventory Cost of goods sold Total merchandise needed Beginning inventory Required purchases April Purchases disbursements From the current month From one month prior From two months prior April May November 130,000 December 153,000 266,000 May 192,000 June 229,000 247,500 476,500 (271,000) 205,500 June 30,825 144,000 26,600 144,000 Exercise 7-31 Credit sales Cash sales Cash From From From sales current month sales sales from 1 month prior sales from 2 months prior January 142,100 60,900 203,000 60,900 92,365 38,250 13,000 191,515 Fam7-A1 Credit sales Cash sales Total sales 88,000 112,000 For current month sales For sales from 1 month prior For sales from 2 months prior Total collections from customers June 176,000 44,000 220,000 44,000 67,200 35,200 146,400 Next, prepare a schedule showing the budgeted monthly purchases for May through Augus Schedule c: Purchases budget Schedule c: Purchases budget May June Cost of good sold 70,400 89,600 140,800 Desired purchases 89,600 140,800 89,600 Missing answrs for P8-43, pic on the right P8-43 Actual Cost Incurred: Actual Inputs x Actual Prices Direct labor Price variance | Quantity variance Flexible budget variance Flexible Budget Based on Actual Inputs x Standard Prices 1,361,360 1,428,000 66,640 F 108,000 U 41,360 U Flexible Budget Based on Standard Inputs Allowed for Actual Outputs Achieved x Standard Prices 1,320,000 P8-44 Requirement 1 (e, f) Actual Cost Incurred: Actual Inputs x Actual Prices Flexible Budget Based on Actual Inputs x Standard Prices Variable CHF 70,950 66,150 Spending variance | Efficiency variance 4,800 U 4,900 U Flexible budget variance 9,700 U Flexible Budget Based on Standard Inputs Allowed for Actual Outputs Achieved x Standard Prices 61,250 Requirement 2 (a) The budget allowance under standard costing for variable costs depends on output. Therefore, the direct-labor budget for 3,500 units is CHF4,375. Wrong answer July 202,000 200,200 402,200 (229,000) 173,200 August 243,000 167,200 410,200 (202,000) 208,200 July 25,980 154,125 19,200 154,125 August 31,230 129,900 20,550 129,900 February 158,200 67,800 226,000 March 172,200 73,800 246,000 67,800 102,830 35,525 15,300 206,155 73,800 111,930 39,550 14,210 225,280 July 112,000 28,000 140,000 August 144,000 36,000 180,000 28,000 105,600 44,800 178,400 36,000 67,200 70,400 173,600 ses for May through August. July August 89,600 115,200 115,200 on output