Question
The LaGrange Corporation had the following budgeted sales for the first half of the current year:...
The LaGrange Corporation had the following budgeted sales for the first half of the current year: Cash Sales Credit Sales January $ 40,000 $ 140,000 February $ 45,000 $ 160,000 March $ 42,000 $ 120,000 April $ 37,000 $ 122,000 May $ 47,000 $ 190,000 June $ 70,000 $ 160,000 The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled: Collections on sales: 30% in month of sale 35% in month following sale 35% in second month following sale The accounts receivable balance on January 1 of the current year was $92,000, of which $70,000 represents uncollected December sales and $22,000 represents uncollected November sales. The total cash collected during January by LaGrange Corporation would be:
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The LaGrange Corporation had the following budgeted sales for the first half of the current year:...
The LaGrange Corporation had the following budgeted sales for
the first half of the current year:
Cash Sales
Credit Sales
January
$
70,000
$
170,000
February
$
75,000
$
190,000
March
$
27,000
$
150,000
April
$
22,000
$
107,000
May
$
32,000
$
220,000
June
$
100,000
$
10,000
The company is in the process of preparing a cash budget and
must determine the expected cash collections by month. To this end,
the following information has been assembled:
Collections...
The LaGrange Corporation had the following budgeted sales for the first half of the current year:...
The LaGrange Corporation had the following budgeted sales for
the first half of the current year:
Cash Sales
Credit Sales
January
$
60,000
$
160,000
February
$
65,000
$
180,000
March
$
33,000
$
140,000
April
$
28,000
$
113,000
May
$
38,000
$
210,000
June
$
90,000
$
70,000
The company is in the process of preparing a cash budget and
must determine the expected cash collections by month. To this end,
the following information has been assembled:
Collections...
The LaGrange Corporation had the following budgeted sales for the first half of the current year:...
The LaGrange Corporation had the following budgeted sales for
the first half of the current year:
Cash Sales
Credit Sales
January
$
70,000
$
170,000
February
$
75,000
$
190,000
March
$
49,000
$
150,000
April
$
44,000
$
129,000
May
$
54,000
$
220,000
June
$
100,000
$
230,000
The company is in the process of preparing a cash budget and
must determine the expected cash collections by month. To this end,
the following information has been assembled:
Collections...
The LaGrange Corporation had the following budgeted sales for the first half of the current year:...
The LaGrange Corporation had the following budgeted sales for
the first half of the current year:
Cash Sales
Credit Sales
January
$
60,000
$
160,000
February
$
65,000
$
180,000
March
$
44,000
$
140,000
April
$
39,000
$
124,000
May
$
49,000
$
210,000
June
$
90,000
$
180,000
The company is in the process of preparing a cash budget and
must determine the expected cash collections by month. To this end,
the following information has been assembled:
Collections...
The LaGrange Corporation had the following budgeted sales for the first half of the current year:...
The LaGrange Corporation had the following budgeted sales for
the first half of the current year:
Cash Sales
Credit Sales
January
$
50,000
$
150,000
February
$
55,000
$
170,000
March
$
29,000
$
130,000
April
$
24,000
$
109,000
May
$
34,000
$
200,000
June
$
80,000
$
30,000
The company is in the process of preparing a cash budget and
must determine the expected cash collections by month. To this end,
the following information has been assembled:
Collections...
The LaGrange Corporation had the following budgeted sales for the first half of the current year:...
The LaGrange Corporation had the following budgeted sales for
the first half of the current year:
Krepps Corporation produces a single product. Last year, Krepps
manufactured 25,000 units and sold 20,000 units. Production costs
for the year were as follows:
Direct materials
$
180,000
Direct labor
$
120,000
Variable manufacturing overhead
$
210,000
Fixed manufacturing overhead
$
250,000
Sales totaled $850,000 for the year, variable selling and
administrative expenses totaled $110,000, and fixed selling and
administrative expenses totaled $170,000. There...
Mitchell Company had the following budgeted sales for the first half of next year: Cash...
Mitchell Company had the
following budgeted sales for the first half of next year:
Cash
Sales
Credit
Sales
January
$70,000
$170,000
February
$75,000
$190,000
March
$32,000
$150,000
April
$37,000
$132,000
May
$47,000
$220,000
June
$100,000
$220,000
The company is in the process of preparing a cash budget and
must determine the expected cash collections by month. To this end,
the following information has been assembled:
Collections on
credit sales:
50% in...
Shown below are the budgeted sales for ABC Company for the next six months: Sales for...
Shown below are the budgeted sales for ABC Company for the next six months:
Sales for Cash Sales on Account
January $15,000 $ 70,000
February $18,000 $ 80,000
March $14,000 $160,000
April $26,000 $120,000
May $18,000 $170,000
June $24,000 $105,000
On average, 35% of the sales on account are collected in the month of sale,
40% are collected in the month following sale, 10% are collected in the
second month following sale, and the remaining 15% is collected three months...
The following is the sales budget for the given months of Hecto, Ltd.: Cash Sales Credit...
The following is the sales budget for the given months of Hecto,
Ltd.:
Cash Sales
Credit Sales
May
$59,000
$283,000
June
$43,000
$236,000
July
$33,000
$205,000
August
$47,000
$268,000
September
$46,000
$197,000
Additional information to be used determining the expected cash
collections each month that will be used in preparing the cash
budget:
Collections on Credit sales:
50% in month of sale
20% in month following sale
30% in second month following sale
The Accounts Receivable balance on May 1...
Budgeted sales at Ikkeep Corporation over the next four months are given below: September $150,000 October...
Budgeted sales at Ikkeep Corporation over the next four months
are given below:
September
$150,000
October
$160,000
November
$180,000
December
$140,000
The company estimates that 25% of the sales are for cash, and 75%
on credit. Collections for sales on account follow a stable pattern
as follows:
50% will be collected in the month of the sale, 30% in the month
following the sale, 15% in the second month following the sale, and
the rest uncollectible. What would be the...
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