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please help asap all for the same question Prepare monthly cash budgets for January, February, and March. Note: Negative balances and Loan repayment amounts (if
please help asap all for the same question
Prepare monthly cash budgets for January, February, and March. Note: Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for laan principal and interest payments) for the first three months of next year Kayak requires a minimum cash balance of $40,000 at each month-end. Loans taken to meet this requirement charge 1%, interest per month, paid at each month-end. The interest is computed based on the beginning balance of the loan for the month, Any preliminary cash balance above $40,000 is used to repay loans at month-end. The company has a cash balance of $40,000 and a loan balance of $80,000 at January 1 . Prepare monthly cash budgets for January, February, and March. Note: Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Black Diamond Company produces snowboards, Each snowboard requires 1 pounds of carbon fiber. Management reports that 6,500 snowboards and 7,500 pounds of carbon fiber are in inventory at the beginning of the third quarter, and that 165,000 snowboards are budgeted to be sold during the third quarter. Management wants to end the third quarter with 5,000 snowboards and 5,500 pounds of carbon fiber in inventory. Carbon fiber costs $14 per pound. Each snowboard requires 0.5 hour of direct labor at $19 per hour. Variable overhead is budgeted at the rate of $9 per direct labor hour. The company budgets fixed overhead of $1,797,000 for the quarter. Problem 22-1A (Algo) Part 2 2. Prepare the direct materials budget for the third quarter. Black Diamond Company produces snowboards. Each snowboard requires 1 pounds of carbon fiber. Management reports that 6,500 snowboards and 7,500 pounds of carbon fiber are in inventory at the beginning of the third quarter, and that 165,000 snowboards are budgeted to be sold during the third quarter. Management wants to end the third quarter with 5,000 snowboards and 5,500 pounds of carbon fiber in inventory. Carbon fiber costs $14 per pound. Each snowboard requires 0.5 hour of direct labor at $19 per hour. Variable overhead is budgeted at the rate of $9 per direct labor hour. The company budgets fixed overhead of $1,797,000 for the quarter. Problem 22-1A (Algo) Part 4 4. Prepare the factory overhead budget for the third quarter. Black Diamond Company produces snowboards. Each snowboard requires 1 pounds of carbon fiber. Management reports that 6,500 snowboards and 7,500 pounds of carbon flber are in inventory at the beginning of the third quarter, and that 165,000 snowboards are budgeted to be sold during the third quarter. Management wants to end the third quarter with 5,000 snowboards and 5,500 pounds of carbon fiber in inventory. Carbon fiber costs $14 per pound. Each snowboard requires 0.5 hour of direct labor at $19 per hour. Variable overhead is budgeted at the rate of $9 per direct labor hour. The company budgets fixed overhead of $1,797,000 for the quarter. Problem 22-1A (Algo) Part 1 Required: 1. Prepare the production budget for the third quarter. Hint Desired ending inventory units are given. Black Diamond Company produces snowboards. Each snowboard requires 1 pounds of carbon fiber. Management reports that 6,500 snowboards and 7,500 pounds of carbon fiber are in inventory at the beginning of the third quarter, and that 165,000 snowboards are budgeted to be sold during the third quarter. Management wants to end the third quarter with 5,000 snowboards and 5,500 pounds of carbon fiber in inventory. Carbon fiber costs $14 per pound. Each snowboard requires 0.5 hour of direct labor at $19 per hour. Variable overhead is budgeted at the rate of $9 per direct labor hour. The company budgets fixed overhead of $1,797,000 for the quarter. Problem 22-1A (Algo) Part 3 3. Prepare the direct labor budget for the third quarter Step by Step Solution
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