University Logos buys logo-imprinted merchandise and then sells it to university bookstores. Sales are expected to be $2,008,000 in September, $2,200,000 in October. $2,378,000 in November and $2,530,000 in December. University Logos sets its prices to earn an average 40% gross profit on sales revenue. The company does not want inventory to fail below $430,000 plus 15% of the next month's cost of goods sold. Prepare a cost of goods sold, inventory, and purchases budget for the months of October and November. University Logos Cost of Goods Sold, Inventory, and Purchases Budget For the Months of October and November October November Cost of goods sold Plus: Desired ending inventory Total inventory required Less: Beginning inventory Purchases S9-12 (similar to) Secure Corporation is preparing its cash payments budget for next month. The following information pertains to the cash payments (Click the icon to view the data) How much cash will be paid out next month? 0 More Info Secure Corporation Cash Payments Budget Cash payments for direct materials: 50% of last month's purchases 50% of next month's purchases Cash payments for direct labor Cash payments for manufacturing overhead Cash payments for operating expenses Cash payment for taxes a. Secure Corporation pays for 50% of its direct materials purchases in the month of purchase and the reminder the following month. Last month's direct material purchases were $79.000, while the company anticipates $81,000 of direct material purchases next month. b. Direct labor for the upcoming month is busted to be $31.000 and will be paid at the end of the upcoming month. c. Manufacturing overhead is estimated to be 100% of direct labor cost each month and is paid in the month in which is incurred. This monthly estimate includes $15,000 of depreciation on the plant and equipment d. Monthly operating expenses for next month are expected to be $41,000, which includes $2 200 of depreciation on office equipment and $1,000 of bad debt expense. These monthly operating expenses are paid during the month in which they are incurred. e. Secure Corporation will be making an estimated tax payment of $7 800 next month Total cash payments Print Done Costa Services, Inc., has $8,200 cash on hand on October 1. The company requires a minimum cash balance of $7,600. October cash collections are $548,580. Total cash payments for October are $571.730. Prepare a cash budget for October. How much cash, if any, will Costa need to borrow by the end of October? Complete the cash budget below. (Use parentheses or a minus sign for negative ending cash balances or deficiencies.) Costa Services, Inc. Combined Cash Budget For the Month Ended October 31 Beginning cash balance Plus: Cash collections Total cash available Loss: Cash payments Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency) University Logos buys logo-imprinted merchandise and then sells it to university bookstores. Sales are expected to be $2,008,000 in September, $2,200,000 in October. $2,378,000 in November and $2,530,000 in December. University Logos sets its prices to earn an average 40% gross profit on sales revenue. The company does not want inventory to fail below $430,000 plus 15% of the next month's cost of goods sold. Prepare a cost of goods sold, inventory, and purchases budget for the months of October and November. University Logos Cost of Goods Sold, Inventory, and Purchases Budget For the Months of October and November October November Cost of goods sold Plus: Desired ending inventory Total inventory required Less: Beginning inventory Purchases S9-12 (similar to) Secure Corporation is preparing its cash payments budget for next month. The following information pertains to the cash payments (Click the icon to view the data) How much cash will be paid out next month? 0 More Info Secure Corporation Cash Payments Budget Cash payments for direct materials: 50% of last month's purchases 50% of next month's purchases Cash payments for direct labor Cash payments for manufacturing overhead Cash payments for operating expenses Cash payment for taxes a. Secure Corporation pays for 50% of its direct materials purchases in the month of purchase and the reminder the following month. Last month's direct material purchases were $79.000, while the company anticipates $81,000 of direct material purchases next month. b. Direct labor for the upcoming month is busted to be $31.000 and will be paid at the end of the upcoming month. c. Manufacturing overhead is estimated to be 100% of direct labor cost each month and is paid in the month in which is incurred. This monthly estimate includes $15,000 of depreciation on the plant and equipment d. Monthly operating expenses for next month are expected to be $41,000, which includes $2 200 of depreciation on office equipment and $1,000 of bad debt expense. These monthly operating expenses are paid during the month in which they are incurred. e. Secure Corporation will be making an estimated tax payment of $7 800 next month Total cash payments Print Done Costa Services, Inc., has $8,200 cash on hand on October 1. The company requires a minimum cash balance of $7,600. October cash collections are $548,580. Total cash payments for October are $571.730. Prepare a cash budget for October. How much cash, if any, will Costa need to borrow by the end of October? Complete the cash budget below. (Use parentheses or a minus sign for negative ending cash balances or deficiencies.) Costa Services, Inc. Combined Cash Budget For the Month Ended October 31 Beginning cash balance Plus: Cash collections Total cash available Loss: Cash payments Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency)