Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below: April $ 480,000 Total Budgeted sales (all on account) May $680,000 June $260,000 $1,420,000 From past experience, the company has learned that 30% of a month's sales are collected in the month of sale, another 60% are collected in the month following sale, and the remaining 10% are collected in the second month following sale. Bad debts are negligible and can be ignored. February sales totaled $410,000, and March sales totaled $440,000. Required: 1. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter 2. What is the accounts receivable balance on June 30th? Complete this question by entering your answers in the below. Required Required 2 Prepare a schedule of expected cash collections from sales by month and in total, for the cond quarter. Schedule of Expected Cash Collections April May June Total February sales March sales April sales May sales June sales Total cash collections Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below: Budgeted sales (all on account) April $ 480,000 May $680,000 June $260,000 Total $1,420,000 From past experience, the company has learned that 30% of a month's sales are collected in the month of sale, another 60% are collected in the month following sale, and the remaining 10% are collected in the second month following sale. Bad debts are negligible and can be ignored. February sales totaled $410,000, and March sales totaled $440,000. Required: 1. Prepare a schedule of expected cash collections from sales, by month and in toxal, for the second quarter. 2. What is the accounts receivable balance on June 30th? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the accounts receivable balance on June 30th? Total accounts receivable at June 30 The Production Department of Hruska Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year. Units to be produced 1st Quarter 10,400 2nd Quarter 9,400 3rd Quarter 11,400 4th Quarter 12,400 Each unit requires 0.25 direct labor-hours and direct laborers are paid $12.00 per hour. In addition, the variable manufacturing overhead rate is $1.70 per direct labor-hour. The fixed manufacturing overhead is $84,000 per quarter. The only noncash element of manufacturing overhead is depreciation, which is $24,000 per quarter. Required: 1. Calculate the company's total estimated direct labor cost for each quarter of the upcoming fiscal year and for the year as a whole. 283. Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter of the upcoming fiscal year and for the year as a whole. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 and 3 Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter of the upcoming fiscal year and for the year as a whole. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Total manufacturing overhead Cash disbursements for manufacturing overhead
