{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-29T01:23:00-04:00", "answer_date": "2024-06-29 01:23:00", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4437827", "url": "\/study-help\/questions\/please-see-pictures-p1055b-14lo-4-the-controller-of-kari-4437827", "question_creation_date_js": "2024-06-29T01:23:00-04:00", "question_creation_date": "Jun 29, 2024 01:23 AM", "meta_title": "[Solved] please see pictures P10.55B 14(LO 4) The | SolutionInn", "meta_description": "Answer of - please see pictures P10.55B 14(LO 4) The controller of Kari Company estimates sales and production for the rst four mo | SolutionInn", "meta_keywords": "pictures,p10.55b,14,lo,4,controller,kari,company,estimates,sales,production,rst", "question_title_h1": "please see pictures P10.55B 14(LO 4) The controller of Kari Company estimates sales and production for the rst four months of 2020 as follows: January", "question_title": "please see pictures P10.55B 14(LO 4) The controller of Kari Company estimates", "question_title_for_js_snippet": "please see pictures P10 55B 14(LO 4) The controller of Kari Company estimates sales and production for the rst four months of 2020 as follows January February March April Sales $40,000 $50,000 $60,000 $35,000 Production in units 2,000 2,500 3,000 3,500 Sales are 60 cash and 40 on account, and 40 of credit sales are collected in the month of the sale In the month after the sale, 60 of credit sales are collected It takes 5 kg of direct material to produce a nished unit, and direct materials cost $6 per kg All direct materials purchases are on account, and are paid as follows 60 in the month of the purchase and 40 the following month Ending direct materials inventory for each month is 20 of the next month's production needs J anuary's beginning materials inventory is 2,000 kg Suppose that both accounts receivable and accounts payable are zero at the beginning of January Instructions a What are the total cash sales for the J anuary March quarter b What is the accounts receivable balance at the end of March $14,400 c What is the direct materials inventory balance at the end of March d What are the materials purchases costs for February 1111,,L ,,,, ,,,1, ,,,,,,,,,,r, ,,, , , ,,,,,,L n, ,1 ,,l, ,,,,,,n a What are the total cash sales for the January March quarter b What is the accounts receivable balance at the end of March $ 14,400 c What is the direct materials inventory balance at the end of March d What are the materials purchases costs for February e What are cash payments on account for February $72,000 1' What is the ending balance in accounts payable for March $37,200 g What is the change in the cash balance for the period J anuaryMarch", "question_description": "

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\"image\"image<\/div><\/div><\/div> P10.55B 14(LO 4) The controller of Kari Company estimates sales and production for the rst four months of 2020 as follows: January February March April Sales $40,000 $50,000 $60,000 $35,000 Production in units 2,000 2,500 3,000 3,500 Sales are 60% cash and 40% on account, and 40% of credit sales are collected in the month of the sale. In the month after the sale, 60% of credit sales are collected. It takes 5 kg of direct material to produce a nished unit, and direct materials cost $6 per kg. All direct materials purchases are on account, and are paid as follows: 60% in the month of the purchase and 40% the following month. Ending direct materials inventory for each month is 20% of the next month's production needs. J anuary's beginning materials inventory is 2,000 kg. Suppose that both accounts receivable and accounts payable are zero at the beginning of January. Instructions a. What are the total cash sales for the J anuary-March quarter? b. What is the accounts receivable balance at the end of March? $14,400 c. What is the direct materials inventory balance at the end of March? d. What are the materials purchases costs for February? - 1111,,L ,,,, ,,,1, .,,,,,,,,,,r, ,,, , , ,,,,,,L n,.,1~,,l,.,,,,,,n a. What are the total cash sales for the January-March quarter? b. What is the accounts receivable balance at the end of March? $ 14,400 c. What is the direct materials inventory balance at the end of March? d. What are the materials purchases costs for February? e. What are cash payments on account for February? $72,000 1'. What is the ending balance in accounts payable for March? $37,200 g. What is the change in the cash balance for the period J anuaryMarch", "transcribed_text": "", "related_book": { "title": "Intermediate Accounting", "isbn": "470964731, 978-0470964736, 978-0470161012", "edition": "9th Canadian Edition, Volume 2", "authors": "Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/516.jpg", "uri": "\/textbooks\/intermediate-accounting-9th-canadian-edition-volume-2-516", "see_more_uri": "" }, "free_related_book": { "isbn": "B0CHS6S3TH", "uri": "\/textbooks\/-evgatsauto-2in-car-digital-tachometer-b0chs6s3th", "name": "\u200eEVGATSAUTO 2in Car Digital Tachometer", "edition": "" }, "question_posted": "2024-06-29 01:23:00", "see_more_questions_link": "\/study-help\/questions\/business-business-communication-2023-February-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/measurement-of-thermal-diffusivity-from-amplitude-of-temperature-oscillations-a-it", "description": "Measurement of thermal diffusivity from amplitude of temperature oscillations (a) It is desired to use the results of Example 12.1-3 to measure the thermal diffusivity a = k\/pC p of a solid material....", "stars": 3 }, { "url": "\/study-help\/psychology\/4-cognitive-load-is-a-term-that-refers-to-the-1984770", "description": "4. 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