W12CA

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Schedule of Cash Collections of Accounts Receivable Fur Family Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the rst three months of operations are as follows: May $600,000 June 900,000 July 1,100,000 All sales are on account. 0f sales on account, 60% are expected to be collected in the month of the sale, 30% in the first month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for May, June, and July. FUR FAMILY INC. Schedule of Collections from Sales For the Three Months Ending July 31 May June July May sales on account: Collected in May C] Collected in June C] Collected in July S June sales on account: Collected in June C] Collected in July [:] July sales on account: Collected in July D Total cash collected 35:] 35:] 35:] Direct Materials Variances The following data relate to the direct materials cost for the production of 20,000 automobile tires: Actual: 80,000 lbs. at $2.65 $212,000 Standard: 86,000 lbs. at $2.50 $215,000 a. Determine the price variance, quantity variance, and total direct materials cost variance. Enter favorable variances as negative numbers. Enter unfavorable variances as positive numbers. Price variance Unfavorable Variance Quantity variance Favorable Variance Total direct materials cost variance Favorable VarianceDirect Labor Variances The following data relate to direct labor costs for the production of smart tablets. Actual: 6,300 hrs. at $23.00 $144,900 Standard: 6,000 hrs. at $24.50 $147,000 a. Determine the rate variance, time variance, and total direct labor cost variance. Enter a favorable variance as a negative amount, and an unfavorable variance as a positive amount. Rate variance Favorable Variance w J Time variance Unfavorable Variance v V BUD Total direct labor cost variance Favorable Variance w J I\\ Utilization Rate Stop-N-Stay and Paradise Inn operate motels across the northwest. Operating data for each chain are as follows: Hotels Rooms per Hotel Total Rooms Stop-N-Stay 50 180 9,000 Paradise Inn 60 175 10,500 For August, each chain reported the following: Room Nights Average Daily Occupied Room Rate Stop-N-Stay 239,940 $125 Paradise Inn 292,950 $ 95 1. Determine the occupancy rate for Stop-NStay for August. 2. Determine the occupancy rate for Paradise Inn for August. 3. Determine the total room revenue for each chain for August. Stop-N-Stay Paradise Inn LTI Launch X CengageNOWv2 | Online teach X IR Progressive Discipline Policy - X Ebooks - Cengage eReader X + C https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Bookmarks Bb Collaborate - 2... @ Plagiarism Checke... Week 12: Homework (CH.13) eBook Schedule of Cash Collections of Accounts Receivable Innovative Office Inc. has "cash and carry" customers and credit customers. Innovative Office estimates that 30% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 75% pay their accounts in the month of sale, while the remaining 25% pay their accounts in the month following the month of sale. Projected sales for the first three months of 20Y4 are as follows: January $1,200,000 February 1,450,000 March 1,600,000 The Accounts Receivable balance on December 31, 20Y3, was $180,000. Prepare a schedule of cash collections from sales for January, February, and March. INNOVATIVE OFFICE INC. Schedule of Collections from Sales For the Three Months Ending March 31, 20Y4 January February March Receipts from cash sales: Cash sales December sales on account: 0 0 Collected in January January sales on account: Collected in January Collected in February February sales on account: Collected i Collected in March March sales on account. Check My Work Next Assignment Score: 1.34% All work saved. Email Instructor Save and Exit Submit Assignment for GradingLTI Launch X CengageNOWv2 | Online teach X IR Progressive Discipline Policy - X Ebooks - Cengage eReader X + C https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Bookmarks Bb Collaborate - 2... @ Plagiarism Checke... Week 12: Homework (CH.13) eBook January $1,200,000 ? February 1,450,000 March 1,600,000 The Accounts Receivable balance on December 31, 20Y3, was $180,000. Prepare a schedule of cash collections from sales for January, February, and March. INNOVATIVE OFFICE INC. Schedule of Collections from Sales For the Three Months Ending March 31, 20Y4 January February March Receipts from cash sales: Cash sales $ $ December sales on account: Collected in January January sales on account: Collected in January Collected in February February sales on account: Collected in February Collected I March sales on account: 00 0 Collected in March Check My Work Assignment Score: 1.34% All work saved. Email Instructor Save and Exit Submit Assignment for GradingLTI Launch X CengageNOWv2 | Online teach x FR Progressive Discipline Policy - X Ebooks - Cengage eReader X + C https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Bookmarks Bb Collaborate - 2... . Plagiarism Checke... Week 12: Homework (CH.13) eBook Show Me How Video Schedule of Cash Payments ? Shakti Power Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $60,000 April 70,000 May 80,000 Depreciation, insurance, and property taxes represent $5,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in November. Seventy percent of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month. Prepare a schedule indicating cash payments for selling and administrative expenses for March, April, and May. Enter all amounts as positive numbers. SHAKTI POWER INC. Schedule of Cash Payments for Selling and Administrative Expenses For the Three Months Ending May 31 March April May March expenses: Paid in March Paid in April April expenses: Paid in April Paid in May May expenses: Paid in May Total cash payments $ Check My Work Previous Next Assignment Score: 1.34% All work saved. Email Instructor Save and Exit Submit Assignment for GradingLTI Launch X CengageNOWv2 | Online teach X IR Progressive Discipline Policy - X Ebooks - Cengage eReader X + C https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Bookmarks Bb Collaborate - 2... . Plagiarism Checke... Week 12: Homework (CH.13) eBook Schedule of Cash Payments Organic Physical Therapy Inc. is planning its cash payments for operations for the three months ending March 31. The Accrued Expenses Payable balance on January 1 is $12,000. The budgeted expenses for the next three months are as follows: January February March Salaries $40,000 $45,000 $60,000 Utilities 10,000 12,000 15,000 Other operating expenses 7,000 8,000 9,000 Total $57,000 $65,000 $84,000 Other operating expenses include $2,000 of monthly depreciation expense and $1,000 of monthly insurance expense that was prepaid in the prior year. Of the remaining expenses, 75% are paid in the month in which they are incurred, with the remainder paid in the following month. The Accrued Expenses Payable balance on January 1 relates to the expenses incurred in December. Prepare a schedule of cash payments for operations for January, February, and March. Enter all amounts as positive numbers. ORGANIC PHYSICAL THERAPY INC. Schedule of Cash Payments for Operations For the Three Months Ending March 31 January February March Payments of prior month's expense Payments of current month's expense Total cash payments Check My Work Previous Next Assignment Score: 1.34% All work saved. Email Instructor Save and Exit Submit Assignment for GradingLTI Launch X CengageNOWv2 | Online teach X IR Progressive Discipline Policy - X Ebooks - Cengage eReader X + C https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Bookmarks Bb Collaborate - 2... . Plagiarism Checke... Week 12: Homework (CH.13) eBook Capital Expenditures Budget On August 1, 20Y4, the controller of Handy Dan Tools Inc. is planning capital expenditures for the years 20Y5-20Y8. The controller interviewed several Handy Dan executives to collect the necessary information for the capital expenditures budget. Excerpts of the interviews are as follows: Director of Facilities: A construction contract was signed in May 2014 for the construction of a new factory building at a contract cost of $9,000,000. The construction is scheduled to begin in 20Y5 and completed in 20Y6 . Vice President of Manufacturing: Once the new factory building is finished, we plan to purchase $3.6 million in equipment in late 20Y6. I expect that an additional $500,000 will be needed early in the following year (20Y7) to test and install the equipment before we can begin production. If sales continue to grow, I expect we'll need to invest another half million in equipment in 20Y8. Vice President of Marketing: We have really been growing lately. I wouldn't be surprised if we need to expand the size of our new factory building in 20Y8 by at least 25%. Fortunately, we expect inflation to have minimal impact on construction costs over the next four years. Additionally, I would expect the cost of the expansion to be proportional to the size of the expansion. Director of Information Systems: We need to upgrade our information systems to wireless network technology. It doesn't make sense to do this until after the new factory building is completed and producing product. During 20Y7, once the factory is up and running, we should equip the whole facility with wireless technology. I think it would cost us $400,000 today to install the technology. However, prices have been dropping by 10% per year, so it should be less expensive at a later date. President: I am excited about our long-term prospects. My only short-term concern is financing the $5,000,000 of construction costs on the portion of the new factory building scheduled to be completed in 20Y5. Use the interview information above to prepare a capital expenditures budget for Handy Dan Tools Inc. for the years 20Y5-20Y8. If an amount box does not require an entry, leave it blank. Enter all amounts as positive numbers. HANDY DAN TOOLS INC. Capital Expenditures Budget For the Four Years Ending December 31, 20Y5-20Y8 20Y5 20Y6 20Y 20Y8 Building Equipment Information systems Check My Work Previous Next Assignment Score: 1.34% All work saved. Email Instructor Save and Exit Submit Assignment for GradingE LTI Launch X v2: CengageNOWleOnlineteac X Progressive Discipline Policy- X l Um] Ebooks-Cengage eReader X I + v