W P9-57A (similar to) - X Data Table Damon Manufacturing is preparing its master budget for the first quarter of the upcoming year. The following data pertain (Click the icon to view the data.) (Click the icon to view additional data.) Read the requirements Current Assets as of December 31 (prior year) Cash VILLE HIULIU DUM $ 4,600 For the Quarter Ended March 31 $ Month Accounts receivable, net Inventory $ 47,000 15,600 121,500 March Quarter $ February 9,870 Units to be produced January 8,460 3 9,540 27,870 $ 43,000 3 Property, plant, and equipment, net. Accounts payable Capital stock Retained earnings. $ 125,000 28,620 $ 22,500 29,610 5,724 83,610 5,37 5,376 Multiply by Quantity (pounds) of DM needed per unit Quantity (pounds) needed for production Plus: Desired ending inventory of DM Total quantity (pounds) needed Less: Beginning inventory of DM Quantity (pounds) to purchase Multiply by Cost per pound Total cost of DM purchases 25,380 5,922 31,302 5,07 A More Info 35,334 5,922 33,996 5,724 88,984 5,07 26,226 29,412 28,272 83,910 $ $ 200 $ 2.00 $ 2.00 $ 2.00 a. Actual sales in December were $71,000. Selling price per unit is proje Sales for the first five months of the upcoming year are budgeted to be $ 52,452 $ 58,824 $ 56.544 $ 167,820 January February $ 99.600 $ 118,800 Requirement 4. Prepare a cash payments budget for the direct material purchases from Requirement 3. (Use the accou payment in January) (Round your answers to the nearest whole dollar) March $ 115 200 Damon Manufacturing Cash Payments for Direct Materials Budget For the Quarter Ended March 31 Month January February 20% of current month DM purchases $ 10.490 $ 11.765 $ 41.962 80% of last month's DM purchases 53726 Total cash payments April $ 108,000 May $ 103,200 b. Sales are 35% cash and 65% credit. All credit sales are collected in th c.Damon Manufacturing has a policy that states that each month's ending month's sales (in units) d. Of each month's direct material purchases 20% are paid for in the mo following purchase. Three pounds of direct material is needed per unit 20% of next month's production needs e. Most of the labor at the manufacturing facility is indirect, but there is so The direct labor rate per hour is $9 per hour. All direct labor is paid for cost for each of the upcoming three months is as follows: March Quarter 3.2.564 11,309 47,054 58,368 Enter any number in the edit fields and then click Check Answer. January $ 3,807 February $ 4.442 March $ 4.293 f. Monthly manufacturing overhead costs are $5500 for factory rent, $2.9 variable manufacturing overhead. No depreciation is included in these 9 parts remaining Clear All W P9-57A (similar to) - X Data Table Damon Manufacturing is preparing its master budget for the first quarter of the upcoming year. The following data pertain (Click the icon to view the data.) (Click the icon to view additional data.) Read the requirements Current Assets as of December 31 (prior year) Cash VILLE HIULIU DUM $ 4,600 For the Quarter Ended March 31 $ Month Accounts receivable, net Inventory $ 47,000 15,600 121,500 March Quarter $ February 9,870 Units to be produced January 8,460 3 9,540 27,870 $ 43,000 3 Property, plant, and equipment, net. Accounts payable Capital stock Retained earnings. $ 125,000 28,620 $ 22,500 29,610 5,724 83,610 5,37 5,376 Multiply by Quantity (pounds) of DM needed per unit Quantity (pounds) needed for production Plus: Desired ending inventory of DM Total quantity (pounds) needed Less: Beginning inventory of DM Quantity (pounds) to purchase Multiply by Cost per pound Total cost of DM purchases 25,380 5,922 31,302 5,07 A More Info 35,334 5,922 33,996 5,724 88,984 5,07 26,226 29,412 28,272 83,910 $ $ 200 $ 2.00 $ 2.00 $ 2.00 a. Actual sales in December were $71,000. Selling price per unit is proje Sales for the first five months of the upcoming year are budgeted to be $ 52,452 $ 58,824 $ 56.544 $ 167,820 January February $ 99.600 $ 118,800 Requirement 4. Prepare a cash payments budget for the direct material purchases from Requirement 3. (Use the accou payment in January) (Round your answers to the nearest whole dollar) March $ 115 200 Damon Manufacturing Cash Payments for Direct Materials Budget For the Quarter Ended March 31 Month January February 20% of current month DM purchases $ 10.490 $ 11.765 $ 41.962 80% of last month's DM purchases 53726 Total cash payments April $ 108,000 May $ 103,200 b. Sales are 35% cash and 65% credit. All credit sales are collected in th c.Damon Manufacturing has a policy that states that each month's ending month's sales (in units) d. Of each month's direct material purchases 20% are paid for in the mo following purchase. Three pounds of direct material is needed per unit 20% of next month's production needs e. Most of the labor at the manufacturing facility is indirect, but there is so The direct labor rate per hour is $9 per hour. All direct labor is paid for cost for each of the upcoming three months is as follows: March Quarter 3.2.564 11,309 47,054 58,368 Enter any number in the edit fields and then click Check Answer. January $ 3,807 February $ 4.442 March $ 4.293 f. Monthly manufacturing overhead costs are $5500 for factory rent, $2.9 variable manufacturing overhead. No depreciation is included in these 9 parts remaining Clear All