Expected unit sales (frames) for the upcoming months follow Apri May June July A

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Expected unit sales (frames) for the upcoming months follow Apri May June July August 310 320 370 470 445 495 overhead is estimated to be $4,800 ($400 per monthj for expected production Variable manufacturing of 4,800 units for the year. Selling and administrative expenses are overhead is incurred at a rate of $050 per unit produced. Annual fixed manufacturing estimated at $500 per month plus $0.50 per unit sold lguana, Inc, had $10.500 cosh on hand on April 1 Of its sales, 80 percent is in cash Of the credt sales, 50 Of rew matenials purchases, 80 percent is paid for percent is coillected during the month of the sale, and 50 percent is collected materials purchases for March 1roteled $2,200 A April, Iquana plans to pay $3,700 for a piece of during the month following the sale during the month purchased and 20 percent is paid in the following month Rew other operating costs are paid during the month incurred. Monthly fixed manufacturing overhead includes $220 in depreciation. During April lg

Explanation / Answer

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April May June Total Budgeted Cash receipts 7975 9125 11500 28600

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April May June Total Budgeted Cash payments * 9670 7033 7769 18972 April May June Total Payment for purchases 2750 3298 3634 9682 Payment for direct labor 2210 2665 2990 7865 Payment for manufacturing overhead 350 385 410 345 Payment for selling and admn. Expenses 660 685 735 1080 Payment for equipment 3700 Total cash payments * 9670 7033 7769 18972

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