) This i Cash receipts and cash disbursements to a. Sales are 80% cash and 20% credit. Credit sales are collected 30% in the month of sale and the remainder in the month after sale. Actual sales in December were $53,000. Schedules of budgeted sales for the two months of the upcoming year are as follows: Budgeted Sales Revenue January $59,000 February $69,000 b. Actual purchases of direct materials in December were $26,000. Hunter's purchases of direct materials in January are budgeted to be $21,500 and $23,500 in February. All purchases are paid 40% in the month of purchase and 60% the following month. c. Salaries and sales commissions are paid half in the month earned and half the next month. Actual salaries were $9,500 in December. Budgeted salaries in January are $10,500, and February budgeted salaries are $12,500. Sales commissions each month are 10% of that month's sales. d. Rent expense is $3,800 per month e. Depreciation is $2,400 per month. f. Estimated income tax payments are made at the end of January. The estimated tax payment is projected to be $12,500 g. The cash balance at the end of the prior year was $21,000. tel Print Done ont Hunter's Manufacturing is preparing its cash budgets for the first two months of the upcoming year. The following information concerns the company's upcoming cash rem (Click the icon to view the cash receipts and cash disbursements.) Requirements Prepare schedules of (a) budgeted cash collections, (b) budgeted cash payments for purchases, and (e) budgeted cash payments for operating expenses. Show am Prepare a combined cash budget. If no financing activity took place, what is the budgeted cash balance on February 287 Requirement 1a. Prepare a schedule of budgeted cash collections for January and February. Show amounts for each month and totals for January and February Cash Collections Budget January February 1. 2. Cash sales Credit sales Total cash collections b. Prepare a schedule of budgeted cash payments for purchases for January and February. Show amounts for each month and totals for January and February (Leave any Cash Payments for Direct Material Purchases Budget January February December purchases Janary purchases February purchases Total cash payments for direct material purchases c. Prepare a schedule of budgeted cash payments for operating expenses for January and February. Show amounts for each month and totals for January and February (Leave Enter any number in the edit helds and then continue to the next question. MacBook Air 1. 2. Hunter's Manufacturing is preparing its cash budgets for the first two months of the upcoming year. The following information concerns the company's upcoming ca (Click the icon to view the cash receipts and cash disbursements.) Requirements Prepare schedules of (a) budgeted cash collections, (b) budgeted cash payments for purchases, and (c) budgeted cash payments for operating expenses. S Prepare a combined cash budget. If no financing activity took place, what is the budgeted cash balance on February 287 c. Prepare a schedule or Duagerea casn payments vor operaung expenses for January and February, snow amounts for each monin ana rocas tor January and reo Cash Payments for Operating Expenses Budget January February Variable cash operating expenses: Sales commissions: December Sales commissions: January Sales commissions: February Total variable cash operating expenses Fixed cash operating expenses Sales salaries: December Sales salaries: January Sales salaries: February Rent expense Total fixed cash operating expenses Total cash payments for operating expenses Requirement 2. Prepare a combined cash budget. If no financing activity took place, what is the budgeted cash balance on February 28? Enter any number in the edit fields and then continue to the next question. MacBook Air 1. 2. Prepare schedules of (a) budgeted cash collections, (b) budgeted cash payments for purchases, and (c) budgeted cash payments for a Prepare a combined cash budget . If no financing activity took place, what is the budgeted cash balance on February 28? Total fixed cash operating expenses Total cash payments for operating expenses Requirement 2. Prepare a combined cash budget. If no financing activity took place, what is the budgeted cash balance on February 28? Complete the combined cash budget for January and February (Leave any unused cells blank.) Combined Cash Budget January February Cash balance, beginning Cash collections from customers Total cash available Less cash payments: Direct materials purchases Operating expenses Tax payment Total cash payments Ending cash balance Enter any number in the edit fields and then continue to the next question MacBook Air ) This i Cash receipts and cash disbursements to a. Sales are 80% cash and 20% credit. Credit sales are collected 30% in the month of sale and the remainder in the month after sale. Actual sales in December were $53,000. Schedules of budgeted sales for the two months of the upcoming year are as follows: Budgeted Sales Revenue January $59,000 February $69,000 b. Actual purchases of direct materials in December were $26,000. Hunter's purchases of direct materials in January are budgeted to be $21,500 and $23,500 in February. All purchases are paid 40% in the month of purchase and 60% the following month. c. Salaries and sales commissions are paid half in the month earned and half the next month. Actual salaries were $9,500 in December. Budgeted salaries in January are $10,500, and February budgeted salaries are $12,500. Sales commissions each month are 10% of that month's sales. d. Rent expense is $3,800 per month e. Depreciation is $2,400 per month. f. Estimated income tax payments are made at the end of January. The estimated tax payment is projected to be $12,500 g. The cash balance at the end of the prior year was $21,000. tel Print Done ont Hunter's Manufacturing is preparing its cash budgets for the first two months of the upcoming year. The following information concerns the company's upcoming cash rem (Click the icon to view the cash receipts and cash disbursements.) Requirements Prepare schedules of (a) budgeted cash collections, (b) budgeted cash payments for purchases, and (e) budgeted cash payments for operating expenses. Show am Prepare a combined cash budget. If no financing activity took place, what is the budgeted cash balance on February 287 Requirement 1a. Prepare a schedule of budgeted cash collections for January and February. Show amounts for each month and totals for January and February Cash Collections Budget January February 1. 2. Cash sales Credit sales Total cash collections b. Prepare a schedule of budgeted cash payments for purchases for January and February. Show amounts for each month and totals for January and February (Leave any Cash Payments for Direct Material Purchases Budget January February December purchases Janary purchases February purchases Total cash payments for direct material purchases c. Prepare a schedule of budgeted cash payments for operating expenses for January and February. Show amounts for each month and totals for January and February (Leave Enter any number in the edit helds and then continue to the next question. MacBook Air 1. 2. Hunter's Manufacturing is preparing its cash budgets for the first two months of the upcoming year. The following information concerns the company's upcoming ca (Click the icon to view the cash receipts and cash disbursements.) Requirements Prepare schedules of (a) budgeted cash collections, (b) budgeted cash payments for purchases, and (c) budgeted cash payments for operating expenses. S Prepare a combined cash budget. If no financing activity took place, what is the budgeted cash balance on February 287 c. Prepare a schedule or Duagerea casn payments vor operaung expenses for January and February, snow amounts for each monin ana rocas tor January and reo Cash Payments for Operating Expenses Budget January February Variable cash operating expenses: Sales commissions: December Sales commissions: January Sales commissions: February Total variable cash operating expenses Fixed cash operating expenses Sales salaries: December Sales salaries: January Sales salaries: February Rent expense Total fixed cash operating expenses Total cash payments for operating expenses Requirement 2. Prepare a combined cash budget. If no financing activity took place, what is the budgeted cash balance on February 28? Enter any number in the edit fields and then continue to the next question. MacBook Air 1. 2. Prepare schedules of (a) budgeted cash collections, (b) budgeted cash payments for purchases, and (c) budgeted cash payments for a Prepare a combined cash budget . If no financing activity took place, what is the budgeted cash balance on February 28? Total fixed cash operating expenses Total cash payments for operating expenses Requirement 2. Prepare a combined cash budget. If no financing activity took place, what is the budgeted cash balance on February 28? Complete the combined cash budget for January and February (Leave any unused cells blank.) Combined Cash Budget January February Cash balance, beginning Cash collections from customers Total cash available Less cash payments: Direct materials purchases Operating expenses Tax payment Total cash payments Ending cash balance Enter any number in the edit fields and then continue to the next question MacBook Air