Paver Industrial has estimated that production for the next five quarters will be: Production Information 1st quarter, 2020 39,600 units 2nd quarter, 2020 36,000 units 3rd quarter, 2020 43,200 units 4th quarter, 2020 33,600 units 1st quarter, 2021 41,200 units Finished units of production require 6 pounds of raw material per unit. The raw material cost is $7 per pound. There is $249,480 of raw material on hand at the beginning of the first quarter, 2020. Paver desires to have 15 percent of next quarter's material requirements on hand at the end of each quarter. Prepare quarterly direct materials purchases budgets for Paver Industrial for 2020. Paver Industrial Direct Materials Purchases Budget For the Year Ending December 31, 2020 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year select an opening direct materials purchases budget item enter a number of units

Paver Industrial has estimated that production for the next five quarters will be:

Production Information
1st quarter, 2020		39,600 units
2nd quarter, 2020		36,000 units
3rd quarter, 2020		43,200 units
4th quarter, 2020		33,600 units
1st quarter, 2021		41,200 units

Finished units of production require 6 pounds of raw material per unit. The raw material cost is $7 per pound. There is $249,480 of raw material on hand at the beginning of the first quarter, 2020. Paver desires to have 15 percent of next quarter's material requirements on hand at the end of each quarter. Prepare quarterly direct materials purchases budgets for Paver Industrial for 2020.

Paver Industrial Direct Materials Purchases Budget For the Year Ending December 31, 2020

Quarter 1

Quarter 2

Quarter 3

Quarter 4

Year

select an opening direct materials purchases budget item Units to be producedCost of raw material per unitDesired ending inventory of raw materialTotal material neededBeginning inventory of raw materialRequired raw material purchasesCost of raw material needed for production

enter a number of units

The Accustart Antique Mall budgeted credit sales in the first quarter of 2021 to be as follows:

January		$172,800
February		183,600
March		196,000

Credit sales in December 2020 are expected to be $216,000. The company expects to collect 65 percent of a months sales in the month of sale and 35 percent in the following month. Estimate cash receipts for each month of the first quarter of 2021.

Collection of credit sales	January		February		March
Collection of December sales	$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
Collection of January sales	enter a dollar amount		enter a dollar amount		enter a dollar amount
Collection of February sales	enter a dollar amount		enter a dollar amount		enter a dollar amount
Collection of March sales	enter a dollar amount		enter a dollar amount		enter a dollar amount
	$enter a total dollar amount		$enter a total dollar amount		$enter a total dollar amount

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The Accustart Antique Mall expects to make purchases in the first quarter of 2021 as follows:

January		$102,600
February		129,600
March		91,800

Purchases in December 2020 are expected to be $98,800. The company expects that 50 percent of a months purchases will be paid in the month of purchase and 50 percent will be paid in the following month. Estimate cash disbursements related to purchases for each month of the first quarter of 2021.

Cash disbursements for purchases	January		February		March
Payment of December purchases	$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
Payment of January purchases	enter a dollar amount		enter a dollar amount		enter a dollar amount
Payment of February purchases	enter a dollar amount		enter a dollar amount		enter a dollar amount
Payment of March purchases	enter a dollar amount		enter a dollar amount		enter a dollar amount
	$enter a total dollar amount		$enter a total dollar amount		$enter a total dollar amount

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