Pottery Manufacturing Limited has projected sales and production in units for the second quarter of the coming year as follows:<\/p>
<\/p>
October November December <\/strong><\/p> Sales <\/strong>50,000 40,000 60,000<\/p> Production <\/strong>60,000 50,000 50,000 <\/p> <\/p> Cash-related production costs are budgeted at $5 per unit produced. Of these production costs, 40% are paid in the month in which they are incurred and the balance in the following month. Selling and administrative expenses will amount to $100,000 per month, paid in the month incurred. The accounts payable balance on September 30 totals $190,000, which will be paid in October.<\/p> All units are sold on account (as credit sales) for $14 each. There are no cash sales. Cash collections from sales are budgeted at 60% in the month of sale, 30% in the month following the month of sale, and the remaining 10% in the second month following the month of sale. Accounts receivable on October 1 totalled $500,000 ($90,000 from August's sales and the remainder from September).<\/p> <\/p> Required: <\/strong><\/p> a. a schedule for each month showing budgeted cash disbursements for the Pottery Manufacturing Limited<\/strong><\/p> b. a schedule for each month showing budgeted cash receipts for the Pottery Manufacturing Limited.<\/strong><\/p>",
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