question would be what are the correct answers for the red marked squares, how can I solve it?
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(b) Your answer is partially correct. Try again. For the first quarter of 2020, prepare a production budget. WATERWAYS CORPORATION Production Budget For the First Quarter of 2020 First Quarter Februar March January Quarter Expected Unit Sales 112,000 114,000 T 115,000 Desired Ending Finished Goods Unit 12,400 Total Required Units ) T 127,400 Beginning Finished Goods Unit Required Production Units 127,400 352,360 Click If you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO TEXT LINK TO TEXT J UIT UIESC uay Ulule month and Pepays on the last day of the (a) Your answer is correct. For the first quarter of 2020, prepare a sales budget. WATERWAYS CORPORATION Sales Budget For the First Quarter of 2020 First Quarter January February March Quarter Expected Unit Sales | 1120001 114000 115000 T 341000 T Unit Selling Price TE Total Sales 1344000 1368000 1380000 4092000 Click if you would like to Show Work for this question: Open Show Work SHOW ANSWER LINK TO TEXT LINK TO TEXT LINK TO TEXT CALCULATOR PRINTER VERSION BACK Waterways Corporation is preparing its budget for the coming year, 2020. The first step is to plan for the first quarter of that coming year. The company has gathered information from its manager preparation of the budgeting process. BACK Sales Unit sales for November 2019 Unit sales for December 2019 Expected unit sales for January 2020 Expected unit sales for February 2020 Expected unit sales for March 2020 Expected unit sales for April 2020 Expected unit sales for May 2020 Unit selling price 111,000 101.000 112,000 114,000 115,000 124,000 138,000 $12 Waterways likes to keep 10% of the next month's unit sales in ending inventory. All sales are on account. 85% of the Accounts Receivable are collected in the month of sale, and 15% of the Account Receivable are collected in the month after sale. Accounts receivable on December 31, 2019, totaled $181,800 Direct Materials Direct materials cost 80 cents per pound. Two pounds of direct materials are required to produce each unit. Waterways likes to keep of the materials needed for the next month in its ending Inventory. Raw Materials on December 31, 2019. totaled 11,220 pounds. Payment for materials is made within 15 days. 50% is paid in the month of purchase, and 50% is paid in the month after purchase. Accounts Payable on December 31, 2019, totaled $102,605. Direct Labor Labor requires 12 minutes per unit for completion and is paid at a rate of $9 per hour Manufacturing Overhead Indirect materials 304 per labor hour Indirect labor 504 per bor hour Rities 50 per labor hour Maintenance 204 per labor hour salaries $41,000 per month Depreciation $17.400 per month Property taxes $2,900 per month Insurance $1.500 per month Maintenance $1,300 per month Selling and Administrative Variable selling and administrative cost per unit is $1.60. Advertising $14,000 a month Insurance $1,300 a month Salaries $72,000 a month Depreciation $2,400 a month Other fixed costs $2,800 a month Other Information The Cash balance on December 31, 2019, totaled $100,000, but management has decided it would like to maintain a cash balance of at least $700,000 beginning on January 31, 2020. Dividends are paid each month at the rate of $2.50 per share for 4,720 shares outstanding. The company has an open line of credit with Romney's Bank. The terms of the agreement requires borrowing to be in $1,000 increments at 9% interest Waterways borrows on the first day of the month and repays on the last day of the month A $540,000 woment purchase is planned for February Less Beginning Finished Goods Unit T 11,200 11,400 Required Production Units 112,000 127,400 352,360 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO TEXTLINK TO TEXT
