Assume the following data for Pet Gear Company: (Click the icon to view the assumptions.) Requirement...

Transcribed Image Text:

Assume the following data for Pet Gear Company: (Click the icon to view the assumptions.) Requirement (Click the icon to view budget information.) Prepare a cash budget for April for Pet Gear. (Round your answers to the nearest whole dollar.) Begin the cash budget by calculating the total cash available, then total disbursements, and finally the effects of financing and the ending cash balance. (Round amounts to the nearest whole dollar.) Cash balance, April 1 Add receipts Cash Budget April 30 Total cash available for needs Budget information Revenue Budget For the Month of April Units Selling price Total Revenues Cat-allac 550 $ Dog-eriffic 320 Total Manufacturing Overhead Budget For the Month of April Machine setup costs $ 7,400 180 $ 99,000 Processing costs 51,400 275 88,000 200 Inspection costs $ 187,000 $ 59,000 Total Direct Manufacturing Labour Costs Budget For the Month of April Nonmanufacturing Costs Budget Output units DMLH Total Hourly For the Month of April produced per unit Hours Wage Rate Total Salaries $ 18,300 Cat-allac 570 3 1,710 $ 14 $ 23,940 Other fixed costs 17,500 Dog-eriffic 305 21,350 5 1,525 14 Sales commissions 1,870 $ 45,290 Total Total nonmanufacturing costs $ 37,670 Print Done or Assumptions Pet Gear (PG) does not make any sales on credit. PG sells only to the public and accepts cash and credit cards. Of its sales, 80% are to customers using credit cards, for which PG gets the cash right away, less a 3% transaction fee. Purchases of materials are on account. PG pays for half the purchases in the period of the purchase and the other half in the following period. At the end of March, PG owes suppliers $7,800. PG plans to replace a machine in April at a net cash cost of $13,500. Labour, other production costs, and nonproduction costs are paid in cash in the month incurred except of course, depreciation, which is not a cash flow. For April, $22,000 of the production cost and $13,000 of the nonproduction cost is depreciation. PG currently has a $1,800 loan at an annual interest rate of 18%. The interest is paid at the end of each month. If PG has more than $10,000 cash at the end of April, it will pay back the loan. PG owes $5,100 in income taxes that need to be remitted in April. PG has cash of $6,600 on hand at the end of March. or Print Done - X Requirement Prepare a cash budget for April for Pet Gear. (Round your answers to the nearest whole dollar.) Assume the following data for Pet Gear Company: (Click the icon to view the assumptions.) Requirement (Click the icon to view budget information.) Prepare a cash budget for April for Pet Gear. (Round your answers to the nearest whole dollar.) Begin the cash budget by calculating the total cash available, then total disbursements, and finally the effects of financing and the ending cash balance. (Round amounts to the nearest whole dollar.) Cash balance, April 1 Add receipts Cash Budget April 30 Total cash available for needs Budget information Revenue Budget For the Month of April Units Selling price Total Revenues Cat-allac 550 $ Dog-eriffic 320 Total Manufacturing Overhead Budget For the Month of April Machine setup costs $ 7,400 180 $ 99,000 Processing costs 51,400 275 88,000 200 Inspection costs $ 187,000 $ 59,000 Total Direct Manufacturing Labour Costs Budget For the Month of April Nonmanufacturing Costs Budget Output units DMLH Total Hourly For the Month of April produced per unit Hours Wage Rate Total Salaries $ 18,300 Cat-allac 570 3 1,710 $ 14 $ 23,940 Other fixed costs 17,500 Dog-eriffic 305 21,350 5 1,525 14 Sales commissions 1,870 $ 45,290 Total Total nonmanufacturing costs $ 37,670 Print Done or Assumptions Pet Gear (PG) does not make any sales on credit. PG sells only to the public and accepts cash and credit cards. Of its sales, 80% are to customers using credit cards, for which PG gets the cash right away, less a 3% transaction fee. Purchases of materials are on account. PG pays for half the purchases in the period of the purchase and the other half in the following period. At the end of March, PG owes suppliers $7,800. PG plans to replace a machine in April at a net cash cost of $13,500. Labour, other production costs, and nonproduction costs are paid in cash in the month incurred except of course, depreciation, which is not a cash flow. For April, $22,000 of the production cost and $13,000 of the nonproduction cost is depreciation. PG currently has a $1,800 loan at an annual interest rate of 18%. The interest is paid at the end of each month. If PG has more than $10,000 cash at the end of April, it will pay back the loan. PG owes $5,100 in income taxes that need to be remitted in April. PG has cash of $6,600 on hand at the end of March. or Print Done - X Requirement Prepare a cash budget for April for Pet Gear. (Round your answers to the nearest whole dollar.)