Tilson Corporation has projected sales and production in units for the second quarter of the coming year as follows: Sales Production April 42,000 52,00 May 13,000 13,000 June 13,000 13,000 Cash-related production costs are budgeted at $8 per unit produced. Of these production costs, 40% are paid in the month in which they are incurred and the balance in the following month. Selling and administrative expenses will amount to $60,000 per month. The accounts payable balance on March 31 totals $171,000, which will be paid in April. All units are sold on account for $22 each. Cash collections from sales are budgeted at 60% in the month of sale, 15% in the month following the month of sale, and the remaining 25% in the second month following the month of sale. Accounts receivable on April 1 totaled $400,000 ($90,000 from February's sales and $310,000 from March's sales). Required: a. Prepare a schedule for each month showing budgeted cash disbursements for Tilson Corporation. b. Prepare a schedule for each month showing budgeted cash receipts for Tilson Corporation, Complete this question by entering your answers in the tabs below. sales) Required: a. Prepare a schedule for each month showing budgeted cash disbursements for Tilson Corporation. b. Prepare a schedule for each month showing budgeted cash receipts for Tilson Corporation Complete this question by entering your answers in the tabs below. Required A Required B Prepare a schedule for each month showing budgeted cash disbursements for Tilson Corporation. April 416,000 $ May 104,000 $ June 104,000 $ $ Production cost Cash disbursement Production costs this month (40%) Production costs prior month (60.0%) Selling and administrative Total disbursements 166,400 $ 249,600 60,000 476,000 $ 41,600 $ 62,400 60,000 164,000 $ 41,600 62,400 60,000 164,000 $ Required A Required B > Required: a. Prepare a schedule for each month showing budgeted cash disbursements for Tilson Corporation. b. Prepare a schedule for each month showing budgeted cash receipts for Tilson Corporation Complete this question by entering your answers in the tabs below. Required A Required B Prepare a schedule for each month showing budgeted cash receipts for Tilson Corporation May April 924,000 $ June 286,000 Total sales $ 286,000 $ $ Cash receipts February sales March sales April sales May sales June sales Total receipts 90,000 116,250 554,400 $ 193,750 138.600 $ 171,600 231,000 42,900 171,600 445,500 760,650 $ 503,950 $
