PLEASE ANSWER FOR PART F,G,H and I given answers OF THESE PARTS ARE WRONG AND PLEASE ANSWER THEM AND LABEL THEM PROPERLY . THANKYOU
1.000 Waterways Continuing Problem-10 (Part Level Submission) Waterways Corporation has recently acquired a small manufacturing operation in British Columbia that products one of its more power items. This plant will provide these units for resale in retail hardware stores in British Columbia and Aberta. Because the budget prepared by the plant was incomplete, Jordan Legh, Waterways CFO, was sent to BC to oversee the plant's budgeting process for the second quarter of 2017 Jordan asked the various managers to collect the following Wormation for preparing the second quarter budget Sales Un sales for February 2017 Unt sales for March 2017 110,000 Expected unit sales for April 2017 118,000 Expected unit sales for May 2017 123,000 Expected unit sales for June 2017 120,000 Expected unt sales for sy 2017 143,000 Expected unt sales for August 2017 168,000 Average stelling price Based on the experience from the home plant, Jordan has gested that the B.C.plante 10% of the next month's unt sales in ending inventory. The plant has contracts with some of the major home hardware giants, so all sales are on account 50% of the accounts receivable is collected in the month of sale, and the balance is collected in the month after sale. This was the same collection pattern from the previous year. The new plant has no bad Direct Materiais The combined quantity of Grect materials (consisting of mets, plastic and rubber) ved in each unit is 1.20 kg. Metal, plast, and rubber together amount to $1.50 per kg. Inventory of combined direct material on March 31 consisted of 14,220 kg This plant ikes to keep 10% of the materials needed for the next monen in its ending inventory. Fifty percent of the payables is paid in the month of purchase, and son is paid in the month after purchase. Accounts Payable on March 31 wil total $120,600. Direct Labour Labour requires 15 minutes per unt for completion and is paid at an average rate of $12 per hour Manufacturing Overhead Indirect materials $0.70 per tabour hour Indirect labour $0.40 per labour hour $9.40 per labour hour Maintenance $0.30 per labour hour Salaries $43,000 per month Depreciation $17,000 per month Property taxes $2,500 Insurance $1,500 per month Janitorial $2,200 per month per month belling and Administrative Variable selling and administrative cost per un $1.50 Advertising $12,000 a month Depreciation $2,100 a month Insurance $1,300 a month Other fed costs $3,700 a month Salaries 563,000 a month Other Information The Cash balance on March will be $113,500, but Waterways has decided it would like to maintain a cash balance of at least 500.000 beginning on April 30. The company has an openine of credit with its bank. The terms of the agreement require borrowing to be in $1,000 increments at 4% interest. Borrowing is considered to be on the first day of the month and repayments are on the last day of the month. Assume interest is paid at the end of the quarter In May, 5870,000 of new equipment to update operations will be purchased Three months' insurance is prepaid on the first day of the first month of the quarter *(a) Your answer is correct for the second quarter of 2017, prepare a sales budget WATERWAYS CORPORATION British Columbia Production Plant Sales Budget for the 2nd Quarter, 2017 April May June Total ales in units 118000 23000 128000 er unit selling price DE sta tal expected sales 416000 26.000 $536000 3628000 Attempts 1 of 1 used 5) *(b) Your answer is correct. For the second quarter of 2017, prepare a schedule for expected cash collections from customers. (Round answers to o decimal places, e.g. 5,275.) 708000 WATERWAYS CORPORATION British Columbia Production Plant Expected Cash Collections for the 2nd Quarter, 2017 April May June Total Collections from March $1660000 $1660000 April 1708000 April 1708000 3708000 May 738000) 1738000 May 1738000 1738000 June 1768000 1768000 Total cash collections 11368000 $11446000 1506000 H320000 *(c) Your answer is partially correct. For the second quarter of 2017, prepare a production budget. WATERWAYS CORPORATION British Columbia Production Plant Production Budget for the 2nd Quarter, 2017 April May June Total Budgeted Unit Sales T118000 T123000 128000 369000 Tada Ending Inventory 112300 912800 74300 14300 X Required Production Units 130300 Ti 35800 1142300 383300 Less Beginning Inventory T11800 728 112800 11800 Required Production Units Ti 18500 1123500 1129500 371500 012300 For the second quarter of 2017, prepare a direct materials budget. (Round cost per kg to 2 decimal places, 49, 0.25 and all other answers to decimal places, ... 2,520.) WATERWAYS CORPORATION British Columbia Production Plant Direct Materials Budget for the 2nd Quarter, 2017 April May June Total units to be produced 118500 23500 129500 150C Direct Materiais Per Unit (kg) 11.20 Total Production Needs 1142200 1108200 T155400 Add. Ending Inventory 114520 117460 176740 117260 M63266 Less Beginning Inventory 114820 15540 Total Materiais Required 1142800 1148920 1157320 49010 Cost Per Kg So $1.50 so Total Cost of Purchases 51214200 223360 035980 223560 "e) Your answer is correct For the second quarter of 2017, prepare a schedule for expected payments for materials purchases (Round answers to decimal places, 6.9. 2,520.) WATERWAYS CORPORATION British Columbia Production Plant Expected DM Cash Disbursements for the 2nd Quarter, 2017 April May June Total Disbursements from March $120600 20600 Apri 107100 107100 April T107100 5407100 May 111690 1111690 May 111690 1111690 June T117990 17990 Total payments TR27700 $218790 $29680 1676170 (1) For the second quarter of 2017, prepare a direct labour budget. (Round time per unit to 2 decimal places, e.g. 1.30.) WATERWAYS CORPORATION British Columbia Production Plant Labour Budget for the 2nd Quarter, 2017 April May June Total C C $ LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT "19) Your answer is correct. For the second quarter of 2017, prepare a manufacturing overhead budget. (Round variable overhead rate to 2 decimal places, e.g. 5.25 and all other answers to decimal places, e.g. 2,275.) WATERWAYS CORPORATION British Columbia Production Plant Manufacturing Overhead Budget for the 2nd Quarter, 2017 April May June Total Expected Direct Labour Hours 29,625 30,875 32,375 92,875 Variable Rate $1.60 $1.60 $1.60 $1.60 Total Variable Manufacturing Overhead $47400 $149,400 $ 51,800 $ 148,600 Add Fixed Overhead 66,200 166,200 66 200 198,600 Total Manufacturing Overhead 1113,600 115,600 118,000 347,200 Less: Non-Cash Items 16,450 16,450 16 450 49,350 Cash Outflow for Manufacturing Overhead $97,150 $99,150 $ 101,550 $297 850 Attempts: 1 of 1 used th) Your answer is correct. For the second quarter of 2017, prepare a selling and administrative expenses budget. (Enter per unit expenses rounded to 2 decimal places, e.g. 1.25.) WATERWAYS CORPORATION British Columbla Production Plant Selling & Administrative Budget for the 2nd Quarter, 2017 April May June Total Expected sales in Units 10.000 123,000 120,000 569.000 Variable Cost Per Unit s1,50 1 50 1:50 $1.50 Total Variable Selling and Administrative Expenses 127.000 184,500 192,000 $53,500 Add: Fixed Selling and Administrative Expenses 36 300 86,300 86,300 258,900 Total Selling and Administrative Expenses 263,300 270,800 78,300 312,400 Less Non-Cash Expenditures 3.400 3.400 2,400 10,200 Cash Expenditures for Selling and Administrative Expenses $259,900 $267.400 R74,900 $802.200 WATERWAYS CORPORATION British Columbia Production Plant Cash Budget for the 2nd Quarter, 2017 Apart 125.500 Beginning Cash Balance A Cash Hey June Texas 125.50 C tra TO A Cow 1,534,000 1.500.000 1,664,000 4,797.000 1.659,500 4,922.500 Direct Materials Direct Labour Mandacturing Overhead Selling and Administrative Lement Paris Selling and Administrative Ement Purchase Prepaid Insur 0 Chciany of us Cash Over Cash Disements Pancing Beringe Repements D 0 0 Ending Cash Balance 5 5 Waterways Corporation has recently acquired a small manufacturing operation in Brih Columbia the produces one of its more popular them. This plant will provide these units for resale in real hardware stores in Brit Columbia and Alberta. Because the budget prepared by the plant was incomplete Jordan Log Waterways CFO, was sent to B.C. to oversee the plant's budgeting process for the second quarter of 2017. Jordan asked the various managers to collect the following information for preparing the second quarter budget Sales Unit sales for February 2017 98,000 Unit sales for March 2017 110,000 Expected unit sales for April 2017 118,000 Expected unit sales for May 2017 123,000 Expected unit sales for June 2017 128,000 Expected unit sales for July 2017 143,000 Expected unit sales for August 2017 168,000 Average unit selling price $12 Based on the experience from the home plant, Jordan has supposed that the B.C. pantop 10% of the next month's unt sales in ending inventory. The plantas contracts with some of the major home hardware gants, sales are an account 50% of the accounts receivable is collected in the month of sale, and the balance is collected in the month wer sale. This was the same collection pattern from the previous year. The new plant has no bad Direct Materials The combined quantity of direct materials (consisting of metal, plastic and rubber) used in each unit is 1.20 kg. Metal, plastic, and rubber together amount to $1.50 per kg. Inventory of combined direct material on March 1 consisted of 14,220 This plant ikes to keep 10% of the materials needed for the next month in its ending inventory. My percent of the payables is paid in the month of purchase, and son is paid in the month after purchase. Accounts Payable on March 31 wil total $120,600. Direct Labour Labour requires 15 minutes per unit for completion and is paid at an average rate of $12 per hour. Manufacturing Overhead Indirect materials $0.70 per labour hour Indirect labour per labour hour Utilities $0.40 per labour hour Maintenance 10.30 per labour hour Salaries $43,800 per month Depreciation $17.000 per month Property taxes $2,500 per month Insurance $1,500 per month $2,200 per month 10.40 Selling and Administrative Variable selling and administrative cost per unit is $1.50 Advertising $12,000 a month Depreciation $2,100 a month Insurance $1,300 a month Other feed costs $3.700 a month Satanes $63,000 a month Other Information The Cash balance on March 31 will be $113,500, but Waterways has decided it would like to maintain a cash balance of at least 500,000 beginning on April 30. The company has an open line of credit with its bank. The terms of the agreement require borrowing to be in $1,000 increments at 4% interest. Borrowing is considered to be on the first day of the month and repayments are on the last day of the month. Assume interest is paid at the end of the quarter In May, $870,000 of new equipment to update operations will be purchased Three months' insurance is prepaid on the first day of the first month of the quarter 1.000 Waterways Continuing Problem-10 (Part Level Submission) Waterways Corporation has recently acquired a small manufacturing operation in British Columbia that products one of its more power items. This plant will provide these units for resale in retail hardware stores in British Columbia and Aberta. Because the budget prepared by the plant was incomplete, Jordan Legh, Waterways CFO, was sent to BC to oversee the plant's budgeting process for the second quarter of 2017 Jordan asked the various managers to collect the following Wormation for preparing the second quarter budget Sales Un sales for February 2017 Unt sales for March 2017 110,000 Expected unit sales for April 2017 118,000 Expected unit sales for May 2017 123,000 Expected unit sales for June 2017 120,000 Expected unt sales for sy 2017 143,000 Expected unt sales for August 2017 168,000 Average stelling price Based on the experience from the home plant, Jordan has gested that the B.C.plante 10% of the next month's unt sales in ending inventory. The plant has contracts with some of the major home hardware giants, so all sales are on account 50% of the accounts receivable is collected in the month of sale, and the balance is collected in the month after sale. This was the same collection pattern from the previous year. The new plant has no bad Direct Materiais The combined quantity of Grect materials (consisting of mets, plastic and rubber) ved in each unit is 1.20 kg. Metal, plast, and rubber together amount to $1.50 per kg. Inventory of combined direct material on March 31 consisted of 14,220 kg This plant ikes to keep 10% of the materials needed for the next monen in its ending inventory. Fifty percent of the payables is paid in the month of purchase, and son is paid in the month after purchase. Accounts Payable on March 31 wil total $120,600. Direct Labour Labour requires 15 minutes per unt for completion and is paid at an average rate of $12 per hour Manufacturing Overhead Indirect materials $0.70 per tabour hour Indirect labour $0.40 per labour hour $9.40 per labour hour Maintenance $0.30 per labour hour Salaries $43,000 per month Depreciation $17,000 per month Property taxes $2,500 Insurance $1,500 per month Janitorial $2,200 per month per month belling and Administrative Variable selling and administrative cost per un $1.50 Advertising $12,000 a month Depreciation $2,100 a month Insurance $1,300 a month Other fed costs $3,700 a month Salaries 563,000 a month Other Information The Cash balance on March will be $113,500, but Waterways has decided it would like to maintain a cash balance of at least 500.000 beginning on April 30. The company has an openine of credit with its bank. The terms of the agreement require borrowing to be in $1,000 increments at 4% interest. Borrowing is considered to be on the first day of the month and repayments are on the last day of the month. Assume interest is paid at the end of the quarter In May, 5870,000 of new equipment to update operations will be purchased Three months' insurance is prepaid on the first day of the first month of the quarter *(a) Your answer is correct for the second quarter of 2017, prepare a sales budget WATERWAYS CORPORATION British Columbia Production Plant Sales Budget for the 2nd Quarter, 2017 April May June Total ales in units 118000 23000 128000 er unit selling price DE sta tal expected sales 416000 26.000 $536000 3628000 Attempts 1 of 1 used 5) *(b) Your answer is correct. For the second quarter of 2017, prepare a schedule for expected cash collections from customers. (Round answers to o decimal places, e.g. 5,275.) 708000 WATERWAYS CORPORATION British Columbia Production Plant Expected Cash Collections for the 2nd Quarter, 2017 April May June Total Collections from March $1660000 $1660000 April 1708000 April 1708000 3708000 May 738000) 1738000 May 1738000 1738000 June 1768000 1768000 Total cash collections 11368000 $11446000 1506000 H320000 *(c) Your answer is partially correct. For the second quarter of 2017, prepare a production budget. WATERWAYS CORPORATION British Columbia Production Plant Production Budget for the 2nd Quarter, 2017 April May June Total Budgeted Unit Sales T118000 T123000 128000 369000 Tada Ending Inventory 112300 912800 74300 14300 X Required Production Units 130300 Ti 35800 1142300 383300 Less Beginning Inventory T11800 728 112800 11800 Required Production Units Ti 18500 1123500 1129500 371500 012300 For the second quarter of 2017, prepare a direct materials budget. (Round cost per kg to 2 decimal places, 49, 0.25 and all other answers to decimal places, ... 2,520.) WATERWAYS CORPORATION British Columbia Production Plant Direct Materials Budget for the 2nd Quarter, 2017 April May June Total units to be produced 118500 23500 129500 150C Direct Materiais Per Unit (kg) 11.20 Total Production Needs 1142200 1108200 T155400 Add. Ending Inventory 114520 117460 176740 117260 M63266 Less Beginning Inventory 114820 15540 Total Materiais Required 1142800 1148920 1157320 49010 Cost Per Kg So $1.50 so Total Cost of Purchases 51214200 223360 035980 223560 "e) Your answer is correct For the second quarter of 2017, prepare a schedule for expected payments for materials purchases (Round answers to decimal places, 6.9. 2,520.) WATERWAYS CORPORATION British Columbia Production Plant Expected DM Cash Disbursements for the 2nd Quarter, 2017 April May June Total Disbursements from March $120600 20600 Apri 107100 107100 April T107100 5407100 May 111690 1111690 May 111690 1111690 June T117990 17990 Total payments TR27700 $218790 $29680 1676170 (1) For the second quarter of 2017, prepare a direct labour budget. (Round time per unit to 2 decimal places, e.g. 1.30.) WATERWAYS CORPORATION British Columbia Production Plant Labour Budget for the 2nd Quarter, 2017 April May June Total C C $ LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT "19) Your answer is correct. For the second quarter of 2017, prepare a manufacturing overhead budget. (Round variable overhead rate to 2 decimal places, e.g. 5.25 and all other answers to decimal places, e.g. 2,275.) WATERWAYS CORPORATION British Columbia Production Plant Manufacturing Overhead Budget for the 2nd Quarter, 2017 April May June Total Expected Direct Labour Hours 29,625 30,875 32,375 92,875 Variable Rate $1.60 $1.60 $1.60 $1.60 Total Variable Manufacturing Overhead $47400 $149,400 $ 51,800 $ 148,600 Add Fixed Overhead 66,200 166,200 66 200 198,600 Total Manufacturing Overhead 1113,600 115,600 118,000 347,200 Less: Non-Cash Items 16,450 16,450 16 450 49,350 Cash Outflow for Manufacturing Overhead $97,150 $99,150 $ 101,550 $297 850 Attempts: 1 of 1 used th) Your answer is correct. For the second quarter of 2017, prepare a selling and administrative expenses budget. (Enter per unit expenses rounded to 2 decimal places, e.g. 1.25.) WATERWAYS CORPORATION British Columbla Production Plant Selling & Administrative Budget for the 2nd Quarter, 2017 April May June Total Expected sales in Units 10.000 123,000 120,000 569.000 Variable Cost Per Unit s1,50 1 50 1:50 $1.50 Total Variable Selling and Administrative Expenses 127.000 184,500 192,000 $53,500 Add: Fixed Selling and Administrative Expenses 36 300 86,300 86,300 258,900 Total Selling and Administrative Expenses 263,300 270,800 78,300 312,400 Less Non-Cash Expenditures 3.400 3.400 2,400 10,200 Cash Expenditures for Selling and Administrative Expenses $259,900 $267.400 R74,900 $802.200 WATERWAYS CORPORATION British Columbia Production Plant Cash Budget for the 2nd Quarter, 2017 Apart 125.500 Beginning Cash Balance A Cash Hey June Texas 125.50 C tra TO A Cow 1,534,000 1.500.000 1,664,000 4,797.000 1.659,500 4,922.500 Direct Materials Direct Labour Mandacturing Overhead Selling and Administrative Lement Paris Selling and Administrative Ement Purchase Prepaid Insur 0 Chciany of us Cash Over Cash Disements Pancing Beringe Repements D 0 0 Ending Cash Balance 5 5 Waterways Corporation has recently acquired a small manufacturing operation in Brih Columbia the produces one of its more popular them. This plant will provide these units for resale in real hardware stores in Brit Columbia and Alberta. Because the budget prepared by the plant was incomplete Jordan Log Waterways CFO, was sent to B.C. to oversee the plant's budgeting process for the second quarter of 2017. Jordan asked the various managers to collect the following information for preparing the second quarter budget Sales Unit sales for February 2017 98,000 Unit sales for March 2017 110,000 Expected unit sales for April 2017 118,000 Expected unit sales for May 2017 123,000 Expected unit sales for June 2017 128,000 Expected unit sales for July 2017 143,000 Expected unit sales for August 2017 168,000 Average unit selling price $12 Based on the experience from the home plant, Jordan has supposed that the B.C. pantop 10% of the next month's unt sales in ending inventory. The plantas contracts with some of the major home hardware gants, sales are an account 50% of the accounts receivable is collected in the month of sale, and the balance is collected in the month wer sale. This was the same collection pattern from the previous year. The new plant has no bad Direct Materials The combined quantity of direct materials (consisting of metal, plastic and rubber) used in each unit is 1.20 kg. Metal, plastic, and rubber together amount to $1.50 per kg. Inventory of combined direct material on March 1 consisted of 14,220 This plant ikes to keep 10% of the materials needed for the next month in its ending inventory. My percent of the payables is paid in the month of purchase, and son is paid in the month after purchase. Accounts Payable on March 31 wil total $120,600. Direct Labour Labour requires 15 minutes per unit for completion and is paid at an average rate of $12 per hour. Manufacturing Overhead Indirect materials $0.70 per labour hour Indirect labour per labour hour Utilities $0.40 per labour hour Maintenance 10.30 per labour hour Salaries $43,800 per month Depreciation $17.000 per month Property taxes $2,500 per month Insurance $1,500 per month $2,200 per month 10.40 Selling and Administrative Variable selling and administrative cost per unit is $1.50 Advertising $12,000 a month Depreciation $2,100 a month Insurance $1,300 a month Other feed costs $3.700 a month Satanes $63,000 a month Other Information The Cash balance on March 31 will be $113,500, but Waterways has decided it would like to maintain a cash balance of at least 500,000 beginning on April 30. The company has an open line of credit with its bank. The terms of the agreement require borrowing to be in $1,000 increments at 4% interest. Borrowing is considered to be on the first day of the month and repayments are on the last day of the month. Assume interest is paid at the end of the quarter In May, $870,000 of new equipment to update operations will be purchased Three months' insurance is prepaid on the first day of the first month of the quarter
