RakeAssignment/takeAssignmentMain.do?inprogress=true eBook Calculator Print Item Schedule of Cash Receipts Rosita Flores owns Rosita's Mexican Restaurant in Tempe, Arizona, Rosita's is an affordable restaurant near campus and several hotels. Rosita accepts cash and checks. Checks are deposited immediately. The bank charges $0.60 per check the amount per check averages $85. "Bad" checks that Rosita cannot collect make up 2 percent of check revenue April During a typical month, Rosita's has sales of $49,000. About 30 percent are cash sales. Estimated sales for the next three months are as follows: $30,000 May 43,000 60,000 Required: June Prepare a schedule of cash receipts for May and June. Round your intermediate computations and final answers to the nearest whole dollar Rosita's Mexican Restaurant Schedule of Cash Receipts For the Months of May and June Cash sales: $ 34.400 48.000 Checks be turned into cash later The Cash Receipts Budget shows sources of cash for the per (Previous Next > more Check My Work uses temaning En c ore and submit Anment for Grecia 4:35 PM mi A B 4 11/27/2019 Orted OX n/take Assignment/take AssignmentMain.do?inprogress true QO eBook Calculator Printem Rosita Flores owns Rosita's Mexican Restaurant in Tempe, Ancona. Rosita's is an affordable restaurant near campus and several hotels Resta accepts and credit. Chedies are deposited immediately. The bank charges $0.50 per check; the amount per check averages $75. "Bad" checks that Rosita cannot collect make up percent of check revenue During a typical month, Rosita's has 45,000. About 80 percentare cash sales. Estimated sales for the next three months are as follows Ar $32,000 May 45,000 June 56,000 Rosita thinks that it may be time to refuse to accept checks and to start accepting credit cards. She is negotiating with VISA/MasterCard and American Express, and she would start the new policy on April 1. Rosita estimates that with the drop in sales from the 'no checks policy and the increase in sales from the acceptance of credit cards, the net increase in sales will be 30 percent. The credit cards do involve added costs as follows: $32,000 56,000 VISA/MasterCard: Rosita will accumulate these credit card receipts throughout the month and submit them in are bundle for payment on the last day of the month. The money will be credited to her account by the fifth day of the following month. A fee of 3.5 percent is charged by the credit card company American Express: Rosita will accumulate these receipts throughout the month and send them to American Express for payment on the last day of the month American Expre will credit her account by the sixth day of the following month. A fee of 5.5 percent charged by Amencan Express Rosita estimates the following breakdown of revenues among the various payment meth Cash 10% VISA/Mastercard American Express Required: Cocotestes Prepare a schedule of cash receipts for May and June Rosita's Mexican Restaurant Check My Work 2 more Check My Vior estem Subm e t for 4:26 PM E FO keAssignment/take AssignmentMain.do?inprogress=true eBook Calculator Print Item Cash Disbursements Schedule Del Spencer is the owner and founder of Del Spencer's Men's Clothing Store. Del Spencer's has its own house charge accounts and has found from past experience that 10 percent of its sales are for cash. The remaining per cent are on credit. An aging schedule for accounts receivable reveals the following pattern: 15 percent of credit sales are paid in the month of sale 65 percent of credit sales are paid in the first month following the sale. 14 percent of credit sales are paid in the second month following the sale. 6 percent of credit sales are never collected. Credit sales that have not been paid until the second month following the sale are considered overdue and are subject to a 3 percent late charge. May Del Spencer's has developed the following sales forecast: $60,000 June 55,000 July 45,000 August September 83,000 August Sectember 96,000 25.000 De Spencer's purchases clothing evenly throughout the month. All purchases are on account. On the first of every month, Jana Spencer, Del's wife, pays for all of the previous month's purchases. Terms are 2/10, n/30 (ie, a 2 percent discount can be taken if the bill is paid within 10 days: otherwise, the entire amount is due within 30 days) The forecast purchases for the months of May through September are as follows May $30,000 June 27.500 July 22,500 Check My Work 2 more Check. My on estemning @ T was 212019 19 B O te s /takeAssignment/take AssignmentMain.do?inprogress=true eBook Calculator Print Item The forecast purchases for the months of May through September are as follows: $30,000 27,500 22,500 May June July August September Required: 28,000 41,500 1. Prepare a cash disbursements schedule for the months of August and September (Round all cash amounts to the nearest dollar) Del Spencer's Men's Clothing Store Cash Disbursements Schedule For the Months of August and September August September July: SC Augusti Total S 2. Now, suppose that Del wants to see what difference it would make to have someone pay within the discount period for any purchases that have been made three timer per month on the 1st, the 11th, and the 21st. Prepare a cash disbursements schedule for the months of July and August assuming this new payment schedule. (Round cash amounts to the nearest dollar) Del Spencer's Men's Clothing Store Previous Next > Check My Work 2 more Check My Work uses remaining Sur Agent cake Assignment/take AssignmentMain.do?inprogress=true eBook Calculator Print Item August: Total 2. Now, suppose that Del wants to see wilt diference it would make to have someone pay within the discount period for any purchases that have been made three times per month, on the 1st, the 11th, and the 21st. Prepare a cash disbursements schedule for the months of July and August assuming this new payment schedule. (Round all cash amounts to the nearest dollar.) De Spencer's Men's Clothing Store Cash Disbursements Schedule For the Months of July and August July August July 1: Duly 11: LE Duly 21: Aug. 13 Aug, 11: Aug. 21: ES5 Total 3. Suppose that Dana (who works full-time as a school teacher and is the mother of two small children does not have time to make payments on two extra dars per morth and that a temporary employee is hired on the 11th and 21st at $20 per hour, for four hours each of those two days. Given the current purchase levels. Is this a good decision Prous Next Check My Work 2 more Check My Work uses remaning Sunt Assignment of ang / e $ Bw @ QO /takeAssignment/takeAssignmentMain.do?inprogress=true @mo eBook Calculator Printem Ingles Corporation is a manufacturer of tables sold to schools, restaurants, hotels, and other institutions. The table tops are manufactured by Ingles, but the table legs are purchased from an outside supplier. The Assembly Department takes a manufactured table top and attaches the four purchased table legs. It takes 16 minutes of labor to assemble a table. The company follows a policy of producing enough tables to ensure that 40 percent of next month's sales are in the finished goods inventory. Ingles also purchases sufficient materials to ensure that materials inventory is 60 percent of the following month's scheduled production. Ingles's sales budget in units for the next quarter is as follows: July 2450 August 2,900 September 2,100 Inglessend ng invertones in units for July 31 are as follows: Finished goods 1,900 Materials (les) 4,000 1. Calculate the number of tables to be produced during August 2,100 tables 2. Disregarding your response to Requirement 1 assume the required production units for August and September are 2.100 and 1.900, respectively, and the July 31 materials inventory is 4,000 units Compute the number of table legs to be purer med in August 3. Assume that Ingles Corporation will produce 2.340 units in September Homeri omo oyees will be required for the Assembly Department in September (Fractional emplos tes are accectables ne employees can be hired on a part-time bars. Assume 40 sur wet and week months CMA adapted) Round your answer to two decimal Check My Week 2 ore Check My Work uses remaining structor Save and Exit Submit Assignment for Grading o Red S9 wij ^. 4 de eBook Calculator Print Item purchases sufficient materials to ensure that materials inventory is 60 percent of the following month's scheduled production. Ingles's sales budget in units for the next quarter as follows: July August September 2,450 2,900 2,100 2.100 Ingles's ending inventories in units for July Finished goods 1,900 Materials (legs) 4,000 Required: 1. Calculate the number of tables to be produced during August 2,100 tables 2. Disregarding your response to Requirement 1, assume the required production units for August and September are 2,100 and 1,900, respectively, and the July 31 materials inventory is 4,000 units. Compute the number of table legs to be purchased in August L egs 3. Assume that Ingles Corporation will produce 2,340 units in September. How many employees will be required for the Assembly Department in September? (Fractional employees are acceptable since employees can be hired on a part-time basis. Assume a 40-hour week and a 4-week month.) (CMA adapted) Round your answer to two decimal places employees Previous Next Check My Work 2 more Check My Work uses Email Instructor Save and exit Submit Assignment for Grade ote $ 9 BW ^ C W 21/2010 takeAssignment/take AssignmentMain.do?inprogress=true eBook Calculator Printem In an attempt to improve budgeting, the nuruller for Meliore, Inc., has developed a flexible budget for overhead costs. Meliore, Inc, makes two types of products, the standard model and the deluxe model. Meliore expects to produce 400,000 units of the standard model and 150,000 units of the deluxe model during the coming year. The standard model requires 0.05 direct labor hour per unit, and the deluxe model requires 0.08. The controller has developed the following cost formulas for each of the four overhead tems: Cost Formula Maintenance $34,600 + $1.25 DLH Power $0.50 DLH Indirect labor $63,200 + $2.30 DLH 531,100 Required: 1. Prepare an overhead budget for the expected activity level for the coming Meliore, Inc. Overhead Budget For the Year Ended December 31 OLM Budgeted direct bor hours Variable costs Maintenance Power Indirect labor Total al costs Poved costs M enance Prowo Check My Work 2 more her w ork uses remaining Save and o 5 bw @ OA /ilm/takeAssignment/take Assignment Main.do?inprogress true eBook Calculator Printem Indirect labor Total variable costs Fixed costs Maintenance Indirect labor Rent Totalfixed costs Total overhead costs than expected (for both products). 2. Prepare an overhead budget that reflects production that is 10 percent high Heliore, Inc. Overhead Budget For the Year Ended December 31 Budgeted direct labor hours Variable costs: Maintenance Power - Indirect labor Total variable cost Foxed COSTS: Maintenance In rector Checkly Work 2 more che Sud Agent racing 4:26 PM o 2 BW @ Q-.- progress true eBook Calculator Print Item Maintenance Indirect labor Total fixed costs Total overhead costs Prepare an overhead budget for production that is 20 percent lower than expected. Meliore, Inc Overhead Budget For the Year Ended December 31 Per LHSEN Budgeted direct labor hours OH Variable costs: Maintenance Power Indirect labor Fixed costs: Maintenance Indirect labor e Rent Total fixed costs Total overhead cos Previous Check My Work 2 more che na instructor Save and Exit 3 Submit Assignment for ote 3 BW @ ^. 40 RakeAssignment/takeAssignmentMain.do?inprogress=true eBook Calculator Print Item Schedule of Cash Receipts Rosita Flores owns Rosita's Mexican Restaurant in Tempe, Arizona, Rosita's is an affordable restaurant near campus and several hotels. Rosita accepts cash and checks. Checks are deposited immediately. The bank charges $0.60 per check the amount per check averages $85. "Bad" checks that Rosita cannot collect make up 2 percent of check revenue April During a typical month, Rosita's has sales of $49,000. About 30 percent are cash sales. Estimated sales for the next three months are as follows: $30,000 May 43,000 60,000 Required: June Prepare a schedule of cash receipts for May and June. Round your intermediate computations and final answers to the nearest whole dollar Rosita's Mexican Restaurant Schedule of Cash Receipts For the Months of May and June Cash sales: $ 34.400 48.000 Checks be turned into cash later The Cash Receipts Budget shows sources of cash for the per (Previous Next > more Check My Work uses temaning En c ore and submit Anment for Grecia 4:35 PM mi A B 4 11/27/2019 Orted OX n/take Assignment/take AssignmentMain.do?inprogress true QO eBook Calculator Printem Rosita Flores owns Rosita's Mexican Restaurant in Tempe, Ancona. Rosita's is an affordable restaurant near campus and several hotels Resta accepts and credit. Chedies are deposited immediately. The bank charges $0.50 per check; the amount per check averages $75. "Bad" checks that Rosita cannot collect make up percent of check revenue During a typical month, Rosita's has 45,000. About 80 percentare cash sales. Estimated sales for the next three months are as follows Ar $32,000 May 45,000 June 56,000 Rosita thinks that it may be time to refuse to accept checks and to start accepting credit cards. She is negotiating with VISA/MasterCard and American Express, and she would start the new policy on April 1. Rosita estimates that with the drop in sales from the 'no checks policy and the increase in sales from the acceptance of credit cards, the net increase in sales will be 30 percent. The credit cards do involve added costs as follows: $32,000 56,000 VISA/MasterCard: Rosita will accumulate these credit card receipts throughout the month and submit them in are bundle for payment on the last day of the month. The money will be credited to her account by the fifth day of the following month. A fee of 3.5 percent is charged by the credit card company American Express: Rosita will accumulate these receipts throughout the month and send them to American Express for payment on the last day of the month American Expre will credit her account by the sixth day of the following month. A fee of 5.5 percent charged by Amencan Express Rosita estimates the following breakdown of revenues among the various payment meth Cash 10% VISA/Mastercard American Express Required: Cocotestes Prepare a schedule of cash receipts for May and June Rosita's Mexican Restaurant Check My Work 2 more Check My Vior estem Subm e t for 4:26 PM E FO keAssignment/take AssignmentMain.do?inprogress=true eBook Calculator Print Item Cash Disbursements Schedule Del Spencer is the owner and founder of Del Spencer's Men's Clothing Store. Del Spencer's has its own house charge accounts and has found from past experience that 10 percent of its sales are for cash. The remaining per cent are on credit. An aging schedule for accounts receivable reveals the following pattern: 15 percent of credit sales are paid in the month of sale 65 percent of credit sales are paid in the first month following the sale. 14 percent of credit sales are paid in the second month following the sale. 6 percent of credit sales are never collected. Credit sales that have not been paid until the second month following the sale are considered overdue and are subject to a 3 percent late charge. May Del Spencer's has developed the following sales forecast: $60,000 June 55,000 July 45,000 August September 83,000 August Sectember 96,000 25.000 De Spencer's purchases clothing evenly throughout the month. All purchases are on account. On the first of every month, Jana Spencer, Del's wife, pays for all of the previous month's purchases. Terms are 2/10, n/30 (ie, a 2 percent discount can be taken if the bill is paid within 10 days: otherwise, the entire amount is due within 30 days) The forecast purchases for the months of May through September are as follows May $30,000 June 27.500 July 22,500 Check My Work 2 more Check. My on estemning @ T was 212019 19 B O te s /takeAssignment/take AssignmentMain.do?inprogress=true eBook Calculator Print Item The forecast purchases for the months of May through September are as follows: $30,000 27,500 22,500 May June July August September Required: 28,000 41,500 1. Prepare a cash disbursements schedule for the months of August and September (Round all cash amounts to the nearest dollar) Del Spencer's Men's Clothing Store Cash Disbursements Schedule For the Months of August and September August September July: SC Augusti Total S 2. Now, suppose that Del wants to see what difference it would make to have someone pay within the discount period for any purchases that have been made three timer per month on the 1st, the 11th, and the 21st. Prepare a cash disbursements schedule for the months of July and August assuming this new payment schedule. (Round cash amounts to the nearest dollar) Del Spencer's Men's Clothing Store Previous Next > Check My Work 2 more Check My Work uses remaining Sur Agent cake Assignment/take AssignmentMain.do?inprogress=true eBook Calculator Print Item August: Total 2. Now, suppose that Del wants to see wilt diference it would make to have someone pay within the discount period for any purchases that have been made three times per month, on the 1st, the 11th, and the 21st. Prepare a cash disbursements schedule for the months of July and August assuming this new payment schedule. (Round all cash amounts to the nearest dollar.) De Spencer's Men's Clothing Store Cash Disbursements Schedule For the Months of July and August July August July 1: Duly 11: LE Duly 21: Aug. 13 Aug, 11: Aug. 21: ES5 Total 3. Suppose that Dana (who works full-time as a school teacher and is the mother of two small children does not have time to make payments on two extra dars per morth and that a temporary employee is hired on the 11th and 21st at $20 per hour, for four hours each of those two days. Given the current purchase levels. Is this a good decision Prous Next Check My Work 2 more Check My Work uses remaning Sunt Assignment of ang / e $ Bw @ QO /takeAssignment/takeAssignmentMain.do?inprogress=true @mo eBook Calculator Printem Ingles Corporation is a manufacturer of tables sold to schools, restaurants, hotels, and other institutions. The table tops are manufactured by Ingles, but the table legs are purchased from an outside supplier. The Assembly Department takes a manufactured table top and attaches the four purchased table legs. It takes 16 minutes of labor to assemble a table. The company follows a policy of producing enough tables to ensure that 40 percent of next month's sales are in the finished goods inventory. Ingles also purchases sufficient materials to ensure that materials inventory is 60 percent of the following month's scheduled production. Ingles's sales budget in units for the next quarter is as follows: July 2450 August 2,900 September 2,100 Inglessend ng invertones in units for July 31 are as follows: Finished goods 1,900 Materials (les) 4,000 1. Calculate the number of tables to be produced during August 2,100 tables 2. Disregarding your response to Requirement 1 assume the required production units for August and September are 2.100 and 1.900, respectively, and the July 31 materials inventory is 4,000 units Compute the number of table legs to be purer med in August 3. Assume that Ingles Corporation will produce 2.340 units in September Homeri omo oyees will be required for the Assembly Department in September (Fractional emplos tes are accectables ne employees can be hired on a part-time bars. Assume 40 sur wet and week months CMA adapted) Round your answer to two decimal Check My Week 2 ore Check My Work uses remaining structor Save and Exit Submit Assignment for Grading o Red S9 wij ^. 4 de eBook Calculator Print Item purchases sufficient materials to ensure that materials inventory is 60 percent of the following month's scheduled production. Ingles's sales budget in units for the next quarter as follows: July August September 2,450 2,900 2,100 2.100 Ingles's ending inventories in units for July Finished goods 1,900 Materials (legs) 4,000 Required: 1. Calculate the number of tables to be produced during August 2,100 tables 2. Disregarding your response to Requirement 1, assume the required production units for August and September are 2,100 and 1,900, respectively, and the July 31 materials inventory is 4,000 units. Compute the number of table legs to be purchased in August L egs 3. Assume that Ingles Corporation will produce 2,340 units in September. How many employees will be required for the Assembly Department in September? (Fractional employees are acceptable since employees can be hired on a part-time basis. Assume a 40-hour week and a 4-week month.) (CMA adapted) Round your answer to two decimal places employees Previous Next Check My Work 2 more Check My Work uses Email Instructor Save and exit Submit Assignment for Grade ote $ 9 BW ^ C W 21/2010 takeAssignment/take AssignmentMain.do?inprogress=true eBook Calculator Printem In an attempt to improve budgeting, the nuruller for Meliore, Inc., has developed a flexible budget for overhead costs. Meliore, Inc, makes two types of products, the standard model and the deluxe model. Meliore expects to produce 400,000 units of the standard model and 150,000 units of the deluxe model during the coming year. The standard model requires 0.05 direct labor hour per unit, and the deluxe model requires 0.08. The controller has developed the following cost formulas for each of the four overhead tems: Cost Formula Maintenance $34,600 + $1.25 DLH Power $0.50 DLH Indirect labor $63,200 + $2.30 DLH 531,100 Required: 1. Prepare an overhead budget for the expected activity level for the coming Meliore, Inc. Overhead Budget For the Year Ended December 31 OLM Budgeted direct bor hours Variable costs Maintenance Power Indirect labor Total al costs Poved costs M enance Prowo Check My Work 2 more her w ork uses remaining Save and o 5 bw @ OA /ilm/takeAssignment/take Assignment Main.do?inprogress true eBook Calculator Printem Indirect labor Total variable costs Fixed costs Maintenance Indirect labor Rent Totalfixed costs Total overhead costs than expected (for both products). 2. Prepare an overhead budget that reflects production that is 10 percent high Heliore, Inc. Overhead Budget For the Year Ended December 31 Budgeted direct labor hours Variable costs: Maintenance Power - Indirect labor Total variable cost Foxed COSTS: Maintenance In rector Checkly Work 2 more che Sud Agent racing 4:26 PM o 2 BW @ Q-.- progress true eBook Calculator Print Item Maintenance Indirect labor Total fixed costs Total overhead costs Prepare an overhead budget for production that is 20 percent lower than expected. Meliore, Inc Overhead Budget For the Year Ended December 31 Per LHSEN Budgeted direct labor hours OH Variable costs: Maintenance Power Indirect labor Fixed costs: Maintenance Indirect labor e Rent Total fixed costs Total overhead cos Previous Check My Work 2 more che na instructor Save and Exit 3 Submit Assignment for ote 3 BW @ ^. 40