Devon Manufacturing is preparing its master budget for the first quarter of the upcoming year. The following data pertain to Devon Manufacturing's operations

Homework: HW 9 - Chapter 9 Save Score: 0 of 9 pts 7 of 8 (6 complete) HW Score: 66.67%, 36 of 54 pts P9-57A (similar to) Question Help Devon Manufacturing is preparing its master budget for the first quarter of the upcoming year. The following data pertain to Devon Manufacturing's operations: .: (Click the icon to view the data.) (Click the icon to view additional data.) Read the requirements. Requirement 1. Prepare a schedule of cash collections for January, February, and March, and for the quarter in total. Devon Manufacturing Cash Collections Budget For the Quarter Ended March 31 Month January February March Quarte Cash sales Credits sales Total cash collections Enter any number in the edit fields and then click Check Answer. 12 parts 12 remaining Clear All Check Answer Homework: HW 9 - Chapter 9 Save Score: 0 of 9 pts 7 of 8 (6 complete) HW Score: 66.67%, 36 of 54 pts P9-57A (similar to i More Info i Dev - Data Table X Real a. Actual sales in December were $76,000. Selling price per unit is projected to remain stable at $9 per unit throughout the budget period. Sales for the first five months of the upcoming year are budgeted to be as follows: Req Current Assets as of December 31 (prior year): Cash ..........$ Accounts receivable, net ........ Inventory Property, plant, and equipment, net Accounts payable.. Capital stock Retained earnings GA GA GA GA GA GA 4.460 53,000 15,100 124.000 43,000 124,500 23,100 January ........$ 80,100 February ....... $ 89.100 March $ 82,800 April .......... $ 85,500 May .......... $ 77,400 b.Sales are 30% cash and 70% credit. All credit sales are collected in the month following the sale. c. Devon Manufacturing has a policy that states that each month's ending inventory of finished goods should be 10% of the following month's sales in units). d. Of each month's direct material purchases, 20% are paid for in the month of purchase, while the remainder is paid for in the month following purchase. Two pounds of direct material is needed per unit at $1.50 per pound. Ending inventory of direct materials should be 20% of next month's production needs. e. Most of the labor at the manufacturing facility is indirect, but there is some direct labor incurred. The direct labor hours per unit is 0.03. The direct labor rate per hour is $13 per hour. All direct labor is paid for in the month in which the work is performed. The direct labor total cost for each of the upcoming three months is as follows: Print Done Enter any number in the edit fields and then click Check Answer. Print Done 12 parts 12 remaining Check Answer Clear All