Question: Please help me answer this question. I do not understand how to do it. thank you! Dickson Manufacturing is preparing its master budget for the

Please help me answer this question. I do not understand how to do it. thank you!

Please help me answer this question. I do not understand how to

Dickson Manufacturing is preparing its master budget for the first quarter of the upcoming year. The following data pertain to Dickson Manufacturing's operations (Click the icon to view the data.) i (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 i More Info Dickson Manufacturing Cash Collections Budget For the Quarter Ended March 31 i Data Table 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 Month follows: January February March Quarter January . 5 80, 100 Cash sales Current Assets as of December 31 (prior year)! February. . . . . . . . . 9 89, 100 Credits sales 4,460 March ..... . . . 3 82,800 Total cash collections Accounts receivable, net 49,000 April i..... .. 3 85,500 Inventory 15,000 May . . . . . . . . . . . . 3 77,400 Property, plant, and equipment, net . . 121,500 b. Sales are 30% cash and 70% credit. All credit sales are collected in the month following the sale. 43,000 c. Dickson Manufacturing has a policy that states that each month's ending inventory of finished goods should be Accounts payable 10% of the following month's sales (in units). Capital stock . . . . . 124,500 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 Retained earnings 22,900 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 Print Done month in which the work is performed. The direct labor total cost for each of the upcoming three months is as follows: January 3,510 February. . 3,834 March 3,600 f. Monthly manufacturing overhead costs are $6,500 for factory rent, $2,900 for other fixed manufacturing expenses, and $1.40 per unit for variable manufacturing overhead. No depreciation is included in these figures. All expenses are paid in the month in which they are incurred. g. Computer equipment for the administrative offices will be purchased in the upcoming quarter. In January, Print Done

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