orIcChaprr X + ezto.mheducation.cum/ext/m Homework Chapter 20 o 5.. Pm 2 0' 2 Problem 202A (Algo) Manufacturing: Cash budget and schedule of cash payments LO P2 Check my work Required information 7 . l [ The following information applies to the questians displayed below. ] 2.5 I Built-Tight is preparing its master budget. Budgeted sales and cash payments follow: p0 ms July August September Budgeted Sale; $ 66,566 $ 76,568 $ 51,566 eBook Budgeted cash payments for Direct materials 16,869 14,142 14,469 ' Reverences Direct labor 4,742 4,668 4,146 Overhead 28,980 17,593 17,939 Sales to customers are 30% cash and 70% on credit. Sales in June were $61000. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $29,000 in cash and $5,700 in loans payable. A minimum cash balance of $29,000 is required. Loans are obtained at the end of any month when the preliminary cash balance is below $29.000. Interest is 1% per month based on the beginningiofvthemonth loan balance and is paid at each month-end. Any preliminary cash balance above $29,000 is used to repay loans at month-end. Expenses are paid in the month incurred and consist of sales commissions (10% of sales), office salaries ($4.700 per month), and rent ($7.200 per month). Problem 20-2A (Algo) Part 2 R} 2. Prepare a cash budget for the months of July, August, and September. (Negative balances and Loan repayment amduii} should be indicated with minus sign. Enter your final answers in whole dollars.) Grew lliil M Question 5 - Homework: Chapt X + https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghm... A Homework: Chapter 20 i Saved Help Save & Exit Submit Check my work 5 Required information BUILT-TIGHT Part 2 of 2 Cash Budget July August September Beginning cash balance 25 points Add: Cash receipts Total cash available Book Less: Cash payments for References Direct materials Direct labor Overhead Sales commissions Office salaries Rent Interest on loan Total cash payments 0 Preliminary cash balance Loan activity Additional loan Repayment of loan to bank Ending cash balance 0 Mc 57-F Q Search Mostly cloudyM Question 5 - Homework: Chapt X C https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghm.. A Homework: Chapter 20 i Saved Help Save & Exit Subr Check my work 5 Required information Overhead Sales commissions Part 2 of 2 Office salaries Rent Interest on loan 2.5 points Total cash payments o 0 Preliminary cash balance eBook Loan activity Additional loan References Repayment of loan to bank Ending cash balance 0 0 Loan balance July August September Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month Prev. of 21 Next > Graw Hill 99+ ENG ) 57 F Q Search a myhp Mostly cloudy