Use the following information to prepare the July cash budget for Acco Co. It should show expected cash receipts and cash payments for the month and the cash balance expected on July 31. a. Beginning cash balance on July 1: $67,000, b. Cash receipts from sales: 20% is collected in the month of sale, 50% in the next month, and 30% in the second month after sale (uncollectible accounts are negligible and can be ignored). Sales amounts are May (actual). $1.930,000; June (actual), $1,450,000 and July (budgeted) $1,440,000. c. Payments on merchandise purchases: 90% in the month of purchase and 10% in the month following purchase. Purchases amounts are: June (actual)/ $530,000; and July (budgeted), $640,000. d. Budgeted cash payments for salaries in July: $220,000 e. Budgeted depreciation expense for July: $11,000. f. Other cash expenses budgeted for July: $240,000. g. Accrued income taxes due in July: $90,000 h. Bank loan interest pald in July: $5,500 Complete this question by entering your answers in the tabs below. Calculation Cash Budget Calculate the budgeted cash receipts and cash payments. Calculation of Cash Receipts from Sales -Collected in Total Sales May June July 31 July Accounts Rec Credit sales from: $ May June July Totals 1.930,000 1,450,000 1.440,000 4,820,000 $ $ 0 $ 0 $ 0 $ Calculation of Cash Payments for Merchandise -Paid in July 31 Total Purchases June July Accounts Pay Purchases from: June $ July Totals 530,000 640,000 1,170,000 $ $ $ Use the following information to prepare the July cash budget for Acco Co. It should show expected cash receipts and cash payments for the month and the cash balance expected on July 31, a. Beginning cash balance on July 1: $67,000. b. Cash receipts from sales: 20% is collected in the month of sale, 50% in the next month and 30% in the second month after sale (uncollectible accounts are negligible and can be ignored). Sales amounts are May (actual), $1,930,000: June (actual), $1,450,000, and July (budgeted) $1,440,000 c. Payments on merchandise purchases: 90% in the month of purchase and 10% in the month following purchase. Purchases amounts are: June (actual) $530,000; and July (budgeted). $640,000. d. Budgeted cash payments for salaries in July $220,000 e. Budgeted depreciation expense for July $11,000 f. Other cash expenses budgeted for July: $240,000 9. Accrued Income taxes due in July: $90,000 h. Bank loan interest paid in July: $5,500. Complete this question by entering your answers in the tabs below. Calculation Cash Sudget Prepare the July cash budget for Acco Co. ACCO CO Cash Budget For the Month Ended July 31 Total cash available Cash payments for Total cash payments $ 0 Zira Co. reports the following production budget for the next four months. April May June July Production (units) 544 585 577 557 Each finished unit requires four pounds of raw materials and the company wants to end each month with raw materials inventory equal to 30% of next month's production needs. Beginning raw materials inventory for April was 653 pounds. Assume direct materials cost $5 per pound Prepare a direct materials budget for April, May, and June (Round your intermediate calculations and final answers to the nearest whole dollar amount.) ZIRACO Direct Materials Budget For April, May, and June April May (Budgeted production (units) 544 585 Materials requirements per unit 5 5 Materials needed for production (lbs) 2.720 2,025 Budgeted ending inventory (lbs) 1,170 1,154 Total materials requirements (lbs) 3,890 4,079 Beginning inventory (lbs) (1.088) (1,170) Materials to be purchased (lbs) 2.802 2,909 Cost per lb $ 5$ ss Total budgeted direct materials cost $ 14,0101 $ 14,545 s June 577 units 5 lbs 2,885 lbs 1,114 lbs 3,999 lbs (1.154) is 2.845 lbs. 5 perib 14,225