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Martin Clothing Company is a retail company that sells hiking and other outdoor gear specially made for the desert heat. It sells to Individuals as well as local companies that coordinate adventure getaways in the desert for tourists. The following information is available for several months of the current year Cash $ Month May June July August Expenses Sales Purchases Pald 92,000S 67,000 $ 20,000 123,000 69,000 26,000 119,000 113,000 34.000 133,000 72,000 31,500 The majority of Martin's sales (60 percent) ore cash, but a few of the excursion companies purchase on credit of the credit sales, 35 percent are collected in the month of sale and 65 percent are collected in the following month All of Martin's purchases are on account with 45 percent paid in the month of purchase and 55 percent paid the following month Required: 1. Determine budgeted cash collections for July and August 2. Determine budgeted coth payments for July and August Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine budgeted cash collections for July and Aupust. (Round your intermediate calculations and final answers to nearest whole dollar:) Guly August Budgeted Cash Collections Required 2 > Shadee Corp. expects to sell 620 sun visors in May and 320 in June. Each visor sells for $20 Shadee's beginning and ending finished goods inventories for May are 75 and 60 units, respectively, Ending finished goods inventory for June will be 70 units It expects the following unit sales for the third quarter 515 July August September 440 430 Sixty percent of Shadee's sales are cash Of the credit sales, 50 percent is collected in the month of the sale, 39 percent is collected during the following month, and 11 percent is never collected Required: Calculate Shadee's total cash receipts for August and September (Do not round your intermediate calculations. Round your answers to the nearest whole dolla.) August September Total Cash Receipts Shadee Corp. expects to sell 620 sun visors in May and 320 in June. Each visor sells for $20. Shadee's beginning and ending finished goods inventories for May are 75 and 60 units, respectively. Ending finished goods inventory for June will be 70 units. It expects the following unit sales for the third quarter: July August September 515 440 430 Sixty percent of Shadee's sales are cash. Of the credit sales, 50 percent is collected in the month of the sale, 39 percent is collected during the following month, and 11 percent is never collected. Required: Calculate Shadee's total cash receipts for August and September. (Do not round your intermediate calculations. Round your answers to the nearest whole dollar.) August September Total Cash Receipts Martin Clothing Company is a retail company that sells hiking and other outdoor gear specially made for the desert heat. It sells to individuals as well as local companies that coordinate adventure getaways in the desert for tourists. The following information is available for several months of the current year: Month May June July August Cash Expenses Sales Purchases Paid $ 92,000 $ 67,000 $ 20,000 123,000 89,000 26,000 139,000 113,000 34,000 133,000 72,000 31,500 The majority of Martin's sales (60 percent) are cash, but a few of the excursion companies purchase on credit. Of the credit sales, 35 percent are collected in the month of sale and 65 percent are collected in the following month. All of Martin's purchases are on account with 45 percent paid in the month of purchase and 55 percent paid the following month. Required: 1. Determine budgeted cash collections for July and August 2. Determine budgeted cash payments for July and August Complete this question by entering your answers Required 1 Required 2 Determine budgeted cash collections for July and Augu: intermediate calculations and final answers to nearest Required information The following information applies to the questions displayed below.) Iguana, Inc, manufactures bamboo picture frames that sell for $25 each. Each frame requires 4 linear feet of bamboo which costs $2.00 per foot. Each frame takes approximately 30 minutes to build, and the labor sate averages $12.00 per hour Iguana has the following inventory policies Ending finished goods inventory should be 40 percent of next month's sales. Ending direct materials inventory should be 30 percent of next month's production Expected unit sales (frames) for the upcoming months follow: March April May June July August 275 250 380 400 375 425 Variable manufacturing overhead is incurred at a rate of $0.30 per unit produced. Annual fixed manufacturing overhead is estimated to be $7.200 (5600 per month) for expected production of 4,000 units for the year. Selling and administrative expenses are estimated at $650 per month plus $0.60 per unit sold Iguana, Inc. had $10,800 cash on hand on April 1. Of its sales. 80 percent is in cash Of the credit sales. 50 percent is collected during the month of the sale, and 50 percent is collected during the month following the sale. Of direct materials purchases, 80 percent is paid for during the month purchased and 20 percent is paid in the following month. Direct materials purchases for March 1 totaled $2.000. All other operating costs are paid during the month incurred. Monthly fixed manufacturing overhead includes $150 in depreciation. During April , Iguana plans to pay $3,000 for a piece of equipment Required: Complete Iguana's budgeted income statement for quarter 2. (Round cost per unit in intermediate calculations to 2 decimal places.) GUANA, INC Required information IGUANA, INC. Budgeted Income Statement For the Quarter Ending June April May June 2nd Quarter Total $ 0 Budgeted Gross Margin 0 $ 0 0 $ Budgeted Net Operating Income $ 0 0 Draw 14 15 Newt