IThe F C Not secure l eztonteducation.cornhrn tpx D New Tab DK M McGraw-Hal Corn

Question

IThe F C Not secure l eztonteducation.cornhrn tpx D New Tab DK M McGraw-Hal Cornec Bowing Bala . Bowl. The folWowing information applies to the questions displayed beslow) Inc , manufactures barr boo picture frames thot sed for %25 each 512.00 per hour Iguana has the following inventory poliches Each frame requres 4 linear feet of bentoo which costs $200 per ser pachhane ukes mom-30min Ending firishod goods inventory should be 40 pencent of Ending raw meterials inventory should be 30 percent of next month's production Expected unit sales (frames) for the upcoming months follow Api May July August 375 425 Verlable manufacturing overhsed ts incurred at a rate of $0 30 per unit produced Annusl fined mondacturing owhed edministrative expenses are estimated at 5650 per month plus so 00 per unt soild to be $7200 5600 er d rodtiof 4000 lng n purchased and 20 percent is paid in olowing oh Raw matenls purchses or March 1 Of rew materials purchases, 80 percent is pod for during the month morth incurred Monthly fixed manufacturing overhead includes 10.00 polints Required: Compute the following for lguana, Inc. for the second quarter(April, May, and June). (Do not round your intermediate calculations lype here to search

Explanation / Answer

1. Budgeted cash receipts

2.

Budgeted cash payments

Notes:

Budgeted production

Raw material purchases budget

Payment for raw material purchases

3.

Cash budget

April May June 2nd Qtr Total Budgeted sales $6250 $7500 $10000 $23750 Cash sales 5000.00 6000.00 8000.00 19000.00 Credit sales 1250 1500 2000 4750 Collection from credit sales of: March 687.50 687.50 April 625.00 625.00 1250.00 May 750.00 750.00 1500.00 June 1000.00 1000.00 Total collection from credit sales 1312.50 1375.00 1750.00 4437.50 Budgeted cash receipts $6312.50 $7375.00 $9750.00 $23437.50

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