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please answer all requirements with given data Part 1 of 1 O Points: 0 of 2 The Monette Company is preparing is cash payments budget.
please answer all requirements with given data
Part 1 of 1 O Points: 0 of 2 The Monette Company is preparing is cash payments budget. The following terms relate to cash payments the company anticipates making during the second quarter of the upcoming year the con to view the cash payment formation) Requirement Prepare a cash payments budget for April, Mary, and June and for the quarter. If a box is not used in the table leave the box moly, do not enter a 200 More info The Monette Company Cash Payments Budget For the Months of April through June April May Cash payment for direct material: 50% of current month purchase 50% of last month's purchase June Quarter a. The company pays for 50% of is direct materials purchases in the month of purchase and the remainder the following month. The company's direct material purchases for March through June are anticipated to be as follows March April May June $ 118,000 136.000 $ 125,000 $147.000 b. Direct labor is paid in the month in which is incurred Direct labor for each month of the second quarter is budgeted as follows April May June $ 52.000 569,000 $77,000 c. Manufacturing overhead is estimated to be 140% of direct labor cost each month. This monthly estimate includes $34.000 of depreciation on the plant and equipment All manufacturing overhead focusing depreciation) pard in the month in which it is incurred. d. Monthly operating expenses for March through June re projected to be as flow March April May $70,000 2,000 $38.000 34.000 Monthly operating expenses are paid in the month after they are incurred. Monthly operating expenses include $10.000 for monthly depreciation on administrative offices and equipment and 12.700 forbudete pense The company plans to pay $5,000 (cash) for a new server in May. The company must make an estimated tax payment of $13.500 on June 15 Step by Step Solution
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