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Page 1: Question 27 (5.5 points) ACME Corporation produces bowling balls in a variety of designer colours. 2022 Master budget data is as follows:
Page 1: Question 27 (5.5 points) ACME Corporation produces bowling balls in a variety of designer colours. 2022 Master budget data is as follows: Quarter Sales (all on account) 1 9 Raw material purchases Direct labour wages 2 3 4 (Jan Mar) (Apr-Jun) (Jul Sep) (Oct - Dec) $1,000,000 $1,750,000 $1,150,000 $1,650,000 $200,000 $300,000 $220,000 $300,000 $225,000 $337,500 $247,500 $337,500 Manufacturing overheard (includes $75,000 depreciation per quarter) $250,000 $375,000 $275,000 $475,000 1 2 3 - > 4 5 6 a > 8 7 > > 10 < => 11 12 13 14 15 #1 15 1 16 17 18 19 20 15 1 21 21 SG&A expenses (includes $25,000 depreciation per quarter) Loan payments Capital purchases Additional information: $276,250 $291,250 $279,250 $341,250 $275,000 $275,000 $275,000 $275,000 $100,000 $110,000 $95,000 $102,000 1.75% of sales are collected in the current quarter, 25% in the following quarter. 2. Current quarter purchases are paid in the following quarter. 3. Direct labour, manufacturing overhead and SG&A expenses are paid the quarter incurred. 4. Capital purchases are made by bank loans. 5. Sales for the quarter ended December, 31, 2021 were $1,250,000. 6. The accounts payable balance at the end of 2021 was $175,000. Required: Use the table below to answer the following questions for the Fourth (4th) quarter of 2022 (5.5 Marks)
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