Sales are budgeted at $307,000 for November $327,000 for December, and $227,000 for January Collections are expected to be 60% in the month of sale and 40% in the month following the sale The cost of goods sold is 75% of sales Utuyor735 desires to have an ending merchandise inventory at the end of each month equal to 90% of the next m Other monthly expenses to be paid in cash are $22,800 Monthly depreciation is $29,500 Ignore taxes. . po/38127) Assets Cash Balance Sheet October 31 Accounts receivable Merchandise inventory Property, plant and equipment, net of $624,000 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders equity What are the accounts payable for Utuyoz735 at the end of December? 35,000 85,500 207,235 322,000 $1,249,725 $256,000 757,000 236,725 $1,249,725

Sales are budgeted at $307,000 for November $327,000 for December, and $227,000 for January Collections are expected to be 60% in the month of sale and 40% in the month following the sale The cost of goods sold is 75% of sales Utuyor735 desires to have an ending merchandise inventory at the end of each month equal to 90% of the next m Other monthly expenses to be paid in cash are $22,800 Monthly depreciation is $29,500 Ignore taxes. . po/38127) Assets Cash Balance Sheet October 31 Accounts receivable Merchandise inventory Property, plant and equipment, net of $624,000 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders equity What are the accounts payable for Utuyoz735 at the end of December? 35,000 85,500 207,235 322,000 $1,249,725 $256,000 757,000 236,725 $1,249,725

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter22: Master Budget (master)

Section: Chapter Questions

Problem 1R: Ranger Industries has provided the following information at June 30: Other information: Average...

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The sales department of Macro Manufacturing Co. has forecast sales for its single product to be 20,000 units for June, with three-quarters of the sales expected in the East region and one-fourth in the West region. The budgeted selling price is 25 per unit. The desired ending inventory on June 30 is 2,000 units, and the expected beginning inventory on June 1 is 3,000 units. Prepare the following: a. A sales budget for June. b. A production budget for June.
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