Dane Inc. has forecast purchases on account to be $465,000 in March, 555,000 in April, $630,000 in May, and $735.000 in June Severty percent fpurchases are paid for in the month of purchase, the remaining 30% are paid in the following month. What are budgeted cash paymerts fer lelowingw0 n May, and $735.000 in Jure Seerty ertMultiple Choice$528,000O $577,500$388,500$189,00011 of 20 t( Prex Delaware Corp. prepared a master budget that included $21,360 for direct materials, $33,600 for direct labor, $18.000 for veriabile oveheat nd$46,440 for fixed overhead. Delaware Corp. planned to sell 4,000 units during the period, but actually sold 4,300 units. What would Delwers etmaterials cost be if it used a flexible budget for the period based on actual sales?Multiple Choice$19,870$21,360$22,962$91,848

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Dane Inc. has forecast purchases on account to be $465,000 in March, 555,000 in April, $630,000 in May, and $735000 n re Severty pecent f purchases are paid for in the month of purchase, the remaining 30% are paid in the following month. What are budgeted cash prymentst le Multiple Choice $528,000 $577,500 $388,500 $189,000

Dane Inc. has forecast purchases on account to be $465,000 in March, 555,000 in April, $630,000 in May, and $735000 n re Severty pecent f purchases are paid for in the month of purchase, the remaining 30% are paid in the following month. What are budgeted cash prymentst le Multiple Choice $528,000 $577,500 $388,500 $189,000

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter8: Budgeting For Planning And Control

Section: Chapter Questions

Problem 34E: A companys sales for the coming months are as follows: About 20 percent of sales are cash sales, and...

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Ranger Industries has provided the following information at June 30: Other information: Average selling price, 196 Average purchase price per unit, 110 Desired ending inventory, 40% of next months unit sales Collections from customers: In month of sale20% In month after sale50% Two months after sale30% Projected cash payments: Inventory purchases are paid for in the month following acquisition. Variable cash expenses, other than inventory, are equal to 25% of each months sales and are paid in the month of sale. Fixed cash expenses are 40,000 per month and are paid in the month incurred. Depreciation on equipment is 2,000 per month. REQUIREMENT You have been asked to prepare a master budget for the upcoming quarter (July, August, and September). The components of this budget are a monthly sales budget, a monthly purchases budget, a monthly cash budget, a forecasted income statement for the quarter, and a forecasted September 30 balance sheet. The worksheet MASTER has been provided to assist you. Ranger Industries desires to maintain a minimum cash balance of 8,000 at the end of each month. If this goal cannot be met, the company borrows the exact amount needed to reach its goal. If the company has a cash balance greater than 8,000 and also has loans payable outstanding, the amount in excess of 8,000 is paid to the bank. Annual interest of 18% is paid on a monthly basis on the outstanding balance.
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