to :10 :ID _= pa; eztomheducationcom Ch ? Hw - #263073 0 Saved Help Save 1: Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. it does not indicate completion. Return to question 21 Required information Parr1 of 2 {The foiiowing infomaon applies to the questions displayed beiom} . n . n I BurltTlght Is preparing Its master budget for the quarter ended September 30. Budgeted sales and cash payments for product costs for the quarter follow. 10 points Julyr August. September Budgeted sales $63,500- $79,500 $48,500 Budgeted cash payments for Direct materials 16,260- 13,540 13,860 Direct labor 4,140- 3,460 3,540 Factory overhead 20,300- 16,900 1T,300 Sales are 25% cash and T596 on credit. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $15,000 in cash: $45,100 in accounts receivable; and a $5,100 balance in loans payable. A minimum cash balance of$15,000 is required. Loans are obtained at the end ofany month when a cash shortage occurs. Interest is 1% per month based on the beg inning-ofthe-month loan balance and is paid at each month-end. If an excess balance of cash exists, loans are repaid at the end of the month. Operating expenses are paid in the month incurred and consist of sales commissions (10% of sales), ofce salaries [$4,100 per month}. and rent [$6,600 per month]. 1. Prepare a cash receipts budget for July. August, and September. M( m III Graw 11E It II: _= we: eztomheducation.c0m Ch ? Hw - M63073 0 Saved Help Save a an Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. it does not indicate completion. Return to question 21 are; QQEJEZJEE ge'nagaghggaaea; ($65563; Erintill. _. ._ __ Part1cf2 1. Prepare a cash receipts budget for July. August, and September. 10 9 Answer Is not complete. points Sales 0 Less: ending accounts receivable Cash receipts from: Cash sales a 0 0 0 Collections of prior month's receivables 0 Total cash receipts $ 0 $ 0 $ 0 Mc _. .m. ._ G PB M Bb ( X UCSC UCSC HBR C S M + C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%2534%252... # # Ch 7 HW - ACG3073 Saved Help Save & Exit Submit Check my work 22 2. Prepare a cash budget for each of the months of July, August, and September. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Enter your final answers in whole dollars.) Part 2 of 2 BUILT-TIGHT Cash Budget 10 For July, August, and September points July August September Skipped Beginning cash balance eBook Total cash available Cash payments for: Print References Total cash payments 0 Preliminary cash balance Additional loan from bank Repayment of loan to bank n al Mc Graw G PB M Bb ( X UCSC UCSC HBR C S M + C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%2534%252... # Ch 7 HW - ACG3073@ Saved Help Save & Exit Submit Check my work 22 ! Required information Part 2 of 2 10 points Total cash payments 0 0 Skipped Preliminary cash balance Additional loan from bank Repayment of loan to bank eBook Ending cash balance 0 0 0 Print References Loan balance July August September Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month Mc Graw