Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the following information to determine the ending cash balance to be reported on the month ended June 30 cash budget. a. Beginning cash balance

Use the following information to determine the ending cash balance to be reported on the month ended June 30 cash budget. a. Beginning cash balance on June 1, $94,900. b. Cash receipts from sales, $417,500. c. Budgeted cash disbursements for purchases, $272,500. d. Budgeted cash disbursements for salaries, $95,900. e. Other budgeted cash expenses, $57,900. f. Cash repayment of bank loan, $32,900. g. Budgeted depreciation expense, $34,900. $53,200. $76,200. $18,300. $111,100. $86,100.

Based on a predicted level of production and sales of 12,000 units, a company anticipates reporting operating income of $15,000 after deducting variable costs of $72,000 and fixed costs of $9,000.Based on this information, the budgeted amounts of fixed and variable costs for 15,000 units would be: $9,000 of fixed costs and $84,000 of variable costs. $9,000 of fixed costs and $90,000 of variable costs. $9,000 of fixed costs and $72,000 of variable costs. $11,250 of fixed costs and $72,000 of variable costs. $11,250 of fixed costs and $90,000 of variable costs.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Deciding What To Teach And Test Developing Aligning And Auditing The Curriculum

Authors: Fenwick W. English

1st Edition

0803968329, 978-0803968325

More Books

Students also viewed these Accounting questions

Question

2 2 6 . .

Answered: 1 week ago