5:20 PM ezto.mheducation.com ..ooo T-Mobile @ 50%. 5+ 0.71 points Use the follow

Question

5:20 PM ezto.mheducation.com ..ooo T-Mobile @ 50%. 5+ 0.71 points Use the following information to prepare the September cash budget for PTO Manufacturing Co. The following information relates to expected cash receipts and cash disbursements for the month ended September 30 Beginning cash balance, September 1, $40,000 b. Budgeted cash receipts from sales in September, $255,000. e Raw materials are purchased on account. Purchase amounts are August (actual), $80,000, and September (budgeted), $110,000 Payments for direct materials are made as follows: 65% in the month of purchase and 35% in the month following purchase d. Budgeted cash disbursements for direct labor in September $40,000 . Budgeted depreciation expense for September, $4,000 t. Other cash expenses budgeted for September, $60,000 9. Accrued income taxes payable in September, $10,000 h. Bank loan interest payable in September, $1,000 Cash Budget Beginning cash balance Cash receipts from sales Total cash avalable Cash disbursements Direct materials Direct labor Other expenses Total cash disbursements Ending cash balance Hints References eBook & Resources Hint #1

Explanation / Answer

PTO Manufacturing Company

CAsh Budget

FOR the Month of Sptember

Beginning Cash balance 140000 Add Cash receipt from sales 255000 Total CAsh Available 395000 Cash Disbursement RAw Material(35% of the month of Aug and 65% of the month of sep) 99500 Direct labour 40000 other cash Expense 60000 Accrued Income tax payalbe 10000 Interest on bank loan 1000 Total CAsh Disbursement 210500 Ending CAsh Balance 184500

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