a. o A company's sales are 35% in cash and 65% on credit. o 65% percent...
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a. o A company's sales are 35% in cash and 65% on credit. o 65% percent of credit sales are collected in the same month the sale occurred, 20% the month following the sale, and 15% in the second month following the sale. o Budgeted sales are expected to be $75,000 in January, $55, 000 in February, $20, 000 in March, and $75,000 in April. Calculate the budgeted total cash receipts in April. (2 marks) Number b. A company has budgeted production in units as follows: Quarter Production in Units First 10,000 Second 95,000 Third 95,000 Fourth 45,000 o 3 kilograms of raw materials are needed for each unit produced. o The company had 5, 000 kilograms of raw materials at the start of the year. o Raw materials inventory at the end of each quarter is equal to 10% of the next quarter's production needs. Calculate the budgeted purchases of raw materials in the second quarter. (2 marks) Number c. A company budgeted to produce 65, 000 units in October. The finished goods inventory on October 1 and October 31 were budgeted at 3, 000 and 5, 000 units, respectively. Each unit requires 2 hours of labour and the company pays an hourly rate of $20 per hour. Calculate the budgeted direct labour costs incurred in October. (2 marks) Number a. o A company's sales are 35% in cash and 65% on credit. o 65% percent of credit sales are collected in the same month the sale occurred, 20% the month following the sale, and 15% in the second month following the sale. o Budgeted sales are expected to be $75,000 in January, $55, 000 in February, $20, 000 in March, and $75,000 in April. Calculate the budgeted total cash receipts in April. (2 marks) Number b. A company has budgeted production in units as follows: Quarter Production in Units First 10,000 Second 95,000 Third 95,000 Fourth 45,000 o 3 kilograms of raw materials are needed for each unit produced. o The company had 5, 000 kilograms of raw materials at the start of the year. o Raw materials inventory at the end of each quarter is equal to 10% of the next quarter's production needs. Calculate the budgeted purchases of raw materials in the second quarter. (2 marks) Number c. A company budgeted to produce 65, 000 units in October. The finished goods inventory on October 1 and October 31 were budgeted at 3, 000 and 5, 000 units, respectively. Each unit requires 2 hours of labour and the company pays an hourly rate of $20 per hour. Calculate the budgeted direct labour costs incurred in October. (2 marks) Number
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