Student Portal X , Thread View | X WP BUS-317 Topic X NWP Assessm X G Cullumber Cor X C Crane Industri X WileyPLUS: Su X C Ivanhoe Inc. Is x Course Hero X + X F -> C D a education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=5d931ade-84f2-476a-a90c-6757826cdgec#/question/2 G To # T BUS-317 Topic 07 Assignment Question 3 of 4 - /12 5 Current Attempt in Progress Cullumber Company prepares monthly cash budgets. Relevant data from operating budgets for 2022 are as follows. January February Sales $381,600 $424,000 Direct materials purchases 127,200 132,500 Direct labor 95,400 106,000 Manufacturing overhead 74,200 79,500 Selling and administrative expenses 83,740 90,100 All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60%) of direct materials purchases are paid in cash in the month of purchase, and the balance due is paid in the month following the purchase. All other items above are paid in the month incurred except for selling and administrative expenses that include $1,060 of depreciation per month. Other data: 1. Credit sales: November 2021, $265,000; December 2021, $339,200. 2. Purchases of direct materials: December 2021, $106,000. Type here to search O 52OF Sunny ~ 0 * ( 1 x 11:36 AM 11/28/2021Student Portal X , Thread View | X WP BUS-317 Topic X NWP Assessm X G Cullumber Cor X C Crane Industri X WileyPLUS: Su X C Ivanhoe Inc. Is x Course Hero X + X F -> C D a education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=5d931ade-84f2-476a-a90c-6757826cdgec#/question/2 G To # T BUS-317 Topic 07 Assignment Question 3 of 4 C D a education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=5d931ade-84f2-476a-a90c-6757826cdgec#/question/2 G To # T BUS-317 Topic 07 Assignment Question 3 of 4 - /12 3 (a) Prepare schedules for (1) expected collections from customers and (2) expected payments for direct materials purchases for January and February. Expected Collections from Customers January February November LA December January February Total collections $ Expected Payments for Direct Materials January February Type here to search 52OF Sunny ~ 0 * ( 1 x 11:37 AM 20 11/28/2021Student Portal X , Thread View | X WP BUS-317 Topic X NWP Assessm X G Cullumber Cor X C Crane Industri X WileyPLUS: Su X C Ivanhoe Inc. Is x Course Hero X + X F -> C D a education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=5d931ade-84f2-476a-a90c-6757826cdgec#/question/2 G To # T BUS-317 Topic 07 Assignment Question 3 of 4 C D a education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=5d931ade-84f2-476a-a90c-6757826cdgec#/question/2 G To # T BUS-317 Topic 07 Assignment Question 3 of 4 - /12 3 ( b). Prepare a cash budget for January and February in columnar form. CULLUMBER COMPANY Cash Budget January Feb $ $ Type here to search W 52OF Sunny ~ 0 ( 1 x 11:37 AM 20 11/28/2021Student Portal X , Thread View | X WP BUS-317 Topic X NWP Assessm X G Cullumber Cor X C Crane Industri X WileyPLUS: Su X C Ivanhoe Inc. Is x Course Hero X + X F -> C D A education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=5d93 1ade-84f2-476a-a90c-6757826cdgec#/question/2 G To # T BUS-317 Topic 07 Assignment Question 3 of 4 C D a education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=5d931ade-84f2-476a-a90c-6757826cdgec#/question/2 G To # T BUS-317 Topic 07 Assignment Question 3 of 4 - /12 to Type here to search OHICAO W 52OF Sunny ~ 0 0 1 1 x 11:38 AM 20 11/28/2021Student Portal X , Thread View | X WP BUS-317 Topic X NWP Assessm X G Cullumber Cor X C Crane Industri X WileyPLUS: Su X C Ivanhoe Inc. Is x Course Hero X + X F -> C D a education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=5d931ade-84f2-476a-a90c-6757826cdgec#/question/2 G To # T BUS-317 Topic 07 Assignment Question 3 of 4 - /12 5 $ $ e Textbook and Media Save for Later Attempts: 0 of 5 used Submit Answer Type here to search W 52OF Sunny ~ 0 * ( 1 x 11:38 AM 11/28/2021