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please all the parts of all the questions Prepare a cash budget for two months. E10.27 (10 4) Nunez Company expects to have a cash
please all the parts of all the questions
Prepare a cash budget for two months. E10.27 (10 4) Nunez Company expects to have a cash balance of $45,000 on January 1, 2022. Relevant monthly budget data for the first two months of 2022 are as follows: 1. Collections from customers: January $100,000; February $160,000 2. Payments to suppliers: January $60,000; February $80,000 3. Direct labour: January $30,000; February $45,000. Wages are paid in the month they are incurred. 4. Manufacturing overhead: January $26,000; February $31,000. These costs include depreciation of $1,000 per month. Al other overhead costs are paid as incurred. 5. Selling and administrative expenses: January $15,000; February $20,000. These costs are exclusive of depreciation. They are paid as incurred. 6. Sales of marketable securities in January are expected to realize $10,000 in cash. Nunez Company has a line of credit at a local bank. It can borrow up to $25,000. The company wants to keep a minimum monthly cash balance of $25,000. Instructions Prepare a cash budget for January and February. Prepare schedules for cash receipts and cash payments, and determine the ending balances for the relevant balance sheet accounts. E10.30 (LO 4,5) Service Environmental Landscaping Inc. is preparing its budget for the first quarter of 2022. The next step is to prepare a cash receipts schedule and a cash payments schedule. The following information has been collected: 1. Clients usually pay 50% of their fee in the month when the service is provided, 40% the next month, and 10% in the second month after receiving the service. 2. Actual service revenues for 2021 and expected service revenues for 2022 are as follows: November 2021, $90,000; December 2021, $70,000; January 2022, $110,000: February 2022, $120,000$ and March 2022, $130,000. 3. The company pays for purchases of landscaping supplies (direct materials) 60% in the month of purchase and 40% the following month. Actual purchases for 2021 and expected purchases for 2022 are: December 2021, $14,000; January 2022, $13,000; February 2022, S15,000; and March 2022, $20,000. Instructions a. Prepare the following schedules for each month in the first quarter of 2022 and for the quarter in total: (1) expected collections from clients, and (2) expected payments for landscaping supplies. b. Determine the following balances at March 31, 2022: (1) accounts receivable, and (2) accounts payable. Prepare production and direct labour budgets. 1310.543 (LO. 3) Raddington Ine makes and sells chairs. The controller is responsible for preparing the masterboot and has accumulated the following information for 2002: January February March April May Estimated unit sales 15.000 10,000 13.000 14.000 14.000 Sale price per unit $85 $75 $ 923 55 Direct labour hours per unit 2 2 1.5 15 1.5 Wage per direct labour hour 518 $18 Si 390 320 Raddington Inc. has a labour contract that calls for a wage increase to $20 per hour on April 1. It has installed wlabour saving machinery, which will be fully operational by March Raddington Inc. expects to begin the year with 24,000 chairs on hand and a policy of carrying an end-of-month inventory of 100% of the following month's sales plus 50% of the next month's sales Instructions a. Prepare a production budget and a direct labour budget for Raddington Inc. by month and for the first quarter of the year The direct labour budget should include direct labour hours and show the detail for each direct labour cost category a. Production for February: 13.500 units, direct labour total: $1423,000 b. For each item used in Raddington Inc.'s production budget and its direct labour bodiget, identify the other component the master budget (budget package) that would also use these data Step by Step Solution
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