Required: Prepare a cash budget for the Hale Company for the 2nd quarter of the year. Include April, May, June, and a quarter total in your budget. =================================================== ACCT 556 Week 6 Homework Problem
Required: Prepare a cash budget for the Hale Company for the 2nd quarter of the year. Include April, May, June, and a quarter total in your budget. =================================================== ACCT 556 Week 6 Homework Problem
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ACCT 556 Week 6 Problem Proforma Statements
The Duncan Company has just completed a number of budgets for the coming year. The cost of goods manufactured schedule, the proforma income statement and the balance sheet still have to be completed. The following information is available:
Information from recent budgets for the coming year: 1. Projected sales are $ 1,800,000( 12,690 units) 2. Projected direct material purchases are $ 500,000 3. Projected direct material usage is $ 495,000 4. Projected direct labor expense is $ 400,000 5. Projected overhead is $ 380,000 6. Projected selling expenses are $ 120,000 7. Projected administrative expenses are $ 300,000 8. Projected cash collections are $ 1,785,000 9. Projected payments for materials( accounts payable) are $ 520,000 10. Projected payments for other operating expenses( other current liabilities) are $ 1,130,000 11. Projected depreciation expense is $ 55,000 and is already included in mfg overhead