accounting,solve

has rclongb_.el 0m to frgw#r t. 01 d Bon tiv o' 2016 Chh Cub CAW" : ccunt5 3 t. lech 31.20%: More info Capital expenditures include S38, 000 for new manufacturing equipment to be a. purchased and paid in the first quarter b. Cash receipts are 75% of sales the quarter of the sale and 25% in the quarter following the sale. Direct materials purchases are paid 70% in the quarter purchased and 30% in c. the next quarter. d. Direct labor, manufacturing overhead, and selling and administrative costs are paid in the quarter incurred Income tax expense for the first quarter is projected at S46,OOO and is paid in e. the quarter incurred Langley Company expects to have adequate cash funds and does not anticipate borrowing in the first quarter g. The December 31, 2015, balance in Cash is S35,000, in Accounts Receivable is S22,800, and in Accounts payable is S12,500. Total sales Budgeted purchases of direct materials Budgeted direct labor cost Budgeted manufacturing overhead costs' Variable manufacturing overhead Depreciation Insurance and property taxes Budgeted selling and administrative expenses: Salaries expense Rent expense Insurance expense Depreciation expense Supplies expense Requirements S 216,000 41 ,300 36,800 1,150 1,100 6,700 13,000 2,000 1,100 400 6,480 l. prepare Langley Company's schedule Of cash receipts frorn customers and schedule of cash payments for the first quarter of 201& 2. prepare Langley Company's cash budget for the first quarter Of 2016T