Roan's Manufacturing is preparing its cash budgets for the first 2 months of the upcoming year....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Roan's Manufacturing is preparing its cash budgets for the first 2 months of the upcoming year. The following information concerns the company's upcoming cash receipts and cash disbursements. a(Click the icon to view the information.) Requirements 1. Prepare schedules of (a) budgeted cash collections, (b) budgeted cash payments for purchases, and (c) budgeted cash payments for operating expenses. Show amounts for each month and totals for January and February. Prepare a combined cash budget. If no financing activity took place, what is the budgeted cash balance on February 28? 2. Requirement 1a. Prepare a schedule of budgeted cash collections for January and February. Cash Collections Budget January February Cash sales Credit sales Total cash collections b. Prepare a schedule of budgeted cash payments for purchases for January and February. (Leave any unused cells blank.) Cash Payments for Direct Material Purchases Budget January February December purchases January purchases February purchases Total cash payments for direct material purchases Enter any number in the edit fields and then continue to the next question. Save for Later 01:51 P Search for anything 口 (a 1) O ENG 14-06-20 Pillow Corp. makes decorative throw pillows for home use. The company sells the pillows to home décor retailers for $10 per pillow. Each pillow requires 1.10 yards of fabric, which the company obtains at a cost of $10 per yard. The company would like to maintain an ending stock of fabric equal to 10% of the next month's production requirements. The company would also like to maintain an ending stock of finished pillows equal to 15% of the next month's sales. Sales (in units) are projected to be as follows for the first three months of the year: A (Click the icon to view the projected sales (in units) for the first three months of the year.) Read the requirements. Requirement 1. Prepare the sales budget, including a separate section that details the type of sales made. For this section, assume the nearest whole number.) X terms. (Round your answers to Requirements Pillow Corp. Sales Budget Prepare the following budgets for the first three months of the year, as well as a summary budget for the quarter: For the Quarter Ended March 31 1. Prepare the sales budget, including a separate section that details the type of sales made. For this section, assume that 10% of the company's pillows are cash sales, and the remaining 90% are sold on credit terms. January February March 1st Quarter Unit sales 2. Prepare the production budget. Assume that the company anticipates selling 220,000 units in April. Unit selling price 3. Prepare the direct materials purchases budget. Assume the company needs 240,000 yards of fabric for production in April. Total sales revenue Cash sales Print Done Credit sales Total sales Requirement 2. Prepare the production budget. Assume that the company anticipates selling 220,000 units in April. (Round your answers to the nearest whole number.) Dille. Ca Enter any number in the edit fields and then continue to the next question. Save for Later 00:27 O Search for anything (G 4) O ENG W 14-06-2020 Roan's Manufacturing is preparing its cash budgets for the first 2 months of the upcoming year. The following information concerns the company's upcoming cash receipts and cash disbursements. a(Click the icon to view the information.) Requirements 1. Prepare schedules of (a) budgeted cash collections, (b) budgeted cash payments for purchases, and (c) budgeted cash payments for operating expenses. Show amounts for each month and totals for January and February. Prepare a combined cash budget. If no financing activity took place, what is the budgeted cash balance on February 28? 2. Requirement 1a. Prepare a schedule of budgeted cash collections for January and February. Cash Collections Budget January February Cash sales Credit sales Total cash collections b. Prepare a schedule of budgeted cash payments for purchases for January and February. (Leave any unused cells blank.) Cash Payments for Direct Material Purchases Budget January February December purchases January purchases February purchases Total cash payments for direct material purchases Enter any number in the edit fields and then continue to the next question. Save for Later 01:51 P Search for anything 口 (a 1) O ENG 14-06-20 Pillow Corp. makes decorative throw pillows for home use. The company sells the pillows to home décor retailers for $10 per pillow. Each pillow requires 1.10 yards of fabric, which the company obtains at a cost of $10 per yard. The company would like to maintain an ending stock of fabric equal to 10% of the next month's production requirements. The company would also like to maintain an ending stock of finished pillows equal to 15% of the next month's sales. Sales (in units) are projected to be as follows for the first three months of the year: A (Click the icon to view the projected sales (in units) for the first three months of the year.) Read the requirements. Requirement 1. Prepare the sales budget, including a separate section that details the type of sales made. For this section, assume the nearest whole number.) X terms. (Round your answers to Requirements Pillow Corp. Sales Budget Prepare the following budgets for the first three months of the year, as well as a summary budget for the quarter: For the Quarter Ended March 31 1. Prepare the sales budget, including a separate section that details the type of sales made. For this section, assume that 10% of the company's pillows are cash sales, and the remaining 90% are sold on credit terms. January February March 1st Quarter Unit sales 2. Prepare the production budget. Assume that the company anticipates selling 220,000 units in April. Unit selling price 3. Prepare the direct materials purchases budget. Assume the company needs 240,000 yards of fabric for production in April. Total sales revenue Cash sales Print Done Credit sales Total sales Requirement 2. Prepare the production budget. Assume that the company anticipates selling 220,000 units in April. (Round your answers to the nearest whole number.) Dille. Ca Enter any number in the edit fields and then continue to the next question. Save for Later 00:27 O Search for anything (G 4) O ENG W 14-06-2020
Expert Answer:
Answer rating: 100% (QA)
PART 1 Roans Manufacturing 1 Schedules of a Budgeted cash collections Cash Collections Budget Jan... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Veerans Manufacturing is preparing its cash budgets for the first two months of the upcoming year. The following information concerns the companys upcoming cash receipts and cash disbursements. a....
-
Roans Manufacturing is preparing its cash budgets for the first two months of the upcoming year. The following information concerns the companys upcoming cash receipts and cash disbursements. a....
-
Bretts Restaurant Supply is preparing its cash budgets for the first two months of the upcoming year. Here is the information about the companys upcoming cash receipts and cash disbursements: a....
-
Evaluate the geometric series or state that it diverges. 8 00 k=0 2k 75
-
Write equations that clearly show the mechanism for the acid-catalyzed hydrolysis of a. Maltose to glucose b. Lactose to galactose and glucose c. Sucrose to fructose and
-
The percentage rates of home ownership for 8 randomly selected states are listed below. Estimate the population variance and standard deviation for the percentage rate of home ownership with 99%...
-
Myers, Montgomery and Anderson-Cook (Response Surface Methodology 4th edition, Wiley, New York, 2016) discuss an experiment to determine the influence of five factors:$x_{1}$ - acid bath temperature...
-
Carbon steel (AISI 1010) shafts of 0.1-m diameter are heat treated in a gas-fired furnace whose gases are at 1200 K and provide a convection coefficient of 100 W/m2 K. If the shafts enter the...
-
During 2021, Smooth Ride Airlines paid salary expense of $38.3 million. At December 31, 2021, Smooth Ride accrued salary expense of $2.2 million. Smooth Ride then paid $2.9 million to its employees...
-
a. An analysis of WTI s insurance policies shows that $2,400 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,800 are available at year-end. c. Annual...
-
Bob's golf score at his local course follows the normal distribution with a mean of 92.1 and a standard deviation of 3.8. What is the probability that the score on his next round of golf will be less...
-
What is the purpose of the valuation using comparables?
-
If the firms debt-equity ratio changes over time, can the WACC method still be applied?
-
When a firm has pre-determined tax shields, how do we measure its net debt when calculating its unlevered cost of capital?
-
How would financial distress and agency costs affect a firms use of leverage?
-
What is a pro forma income statement?
-
What can happen at the cellular level when scallops are exposed to BaP and other polycyclic aromatic hydrocarbons? 2. Summarize the methods used to determine the role of the enzymes tested in...
-
Juarez worked for Westarz Homes at construction sites for five years. Bever was a superintendent at construction sites, supervising subcontractors and moving trash from sites to landfills. He...
-
Sustainability involves more than just the impact of actions on the environment. The triple bottom line recognizes that a company has to measure its impact on people, planet, and profit for its long-...
-
Krystal Fabrics manufactures a specialty monogrammed blanket. The following are the cost standards for this blanket: Direct materials (fabric)..................... 6.0 yards per blanket at $ 9.00 per...
-
For years, it has been cheaper to manufacture many products overseas (China and other countries) than in the United States. Labor is still less expensive overseas than in the U. S., but the cost...
-
The Dow Jones Industrial Average is an average of the prices of 30 industrial stocks with equal weights applied to all 30 stocks (but the sum of the weights is greater than 1). Occasionally (about...
-
Consider two binomial assets, each with price equal to 1. The first is a stock that at the end of a period pays either 3 or 0 with probabilities \(p\) and \(1-p\), respectively. The second asset is...
-
This exercise explores the sensitivity of \(\log\)-optimality to the rebalancing frequency. Consider a market consisting of a risk-free asset with zero rate of interest and a stock that over 1 year...
Study smarter with the SolutionInn App