Question: I need this soon please Data table a. Capital expenditures include $35,000 for new manufacturing equipment to be purchased and paid in the first quarter.





Data table a. Capital expenditures include $35,000 for new manufacturing equipment to be purchased and paid in the first quarter. b. Cash receipts are 60% of sales in the quarter of the sale and 40% in the quarter following the sale. c. Direct materials purchases are paid 50% in the quarter purchased and 50% in the next quarter. d. Direct labor, manufacturing overhead, and selling and administrative costs are paid in the quarter incurred. e. Income tax expense for the first quarter is projected at $40,000 and is paid in the quarter incurred. f. Huber Company expects to have adequate cash funds and does not anticipate borrowing in the first quarter. g. The December 31, 2023, balance in Cash is $32,000, in Accounts Receivable is $16,700, and in Accounts Payable is $11,600. Requirements 1. Prepare Huber Company's schedule of cash receipts from customers and schedule of cash payments for the first quarter of 2024. 2. Prepare Huber Company's cash budget for the first quarter of 2024 . Huber Company has provided the following budget Additional data related to the first quarter of 2024 information for the first quarter of 2024: for Huber Company: (Click the icon to view the budget information.) (Click the icon to view the data.) Requlrement 1. Prepire Huben Company's schedile of caib receipts hrom customers and schedule of canh paymerts for the frot ouarter of 2024 Begin by presaring the oched. de co cash recest fore custoners for the frat quartier of 2024 . Cash Receipts from Customern Prepare the schedule of cash paymetes for the frit quater of 2024 Ranuirament 2 Pranara Huher Conmnanv's rach hudnat for the first aularter of 2024. Requirement 1
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
