accounting- The WRT Corporation makes collections on sales according to the following schedule

.The WRT Corporation makes collections on sales according to the following schedule:30% in month of sale64% in month following sale6% in second month following saleThe following sales have been are expected:Expected Sales April$100,000 May$110,000 June$100,000 Budgeted cash collections in June should be budgeted to be:$100,400$100,600$106,400$100,0002.The manufacturing overhead budget at Amrein Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 3,900 direct labor-hours will be required in August. The variable overhead rate is $7 per direct labor-hour. The company’s budgeted fixed manufacturing overhead is $43,230 per month, which includes depreciation of $3,530. All other fixed manufacturing overhead costs represent current cash flows. The August cash disbursements for manufacturing overhead on the manufacturing overhead budget should be:$67,000$70,530$27,300$39,700

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3.Richards Corporation has the following budgeted sales for the first half of next year: Cash SalesCredit Sales January$80,000 $180,000 February$85,000 $200,000 March$36,000 $160,000 April$41,000 $136,000 May$51,000 $230,000 June$110,000 $260,000 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: 55% in month of sales 30% in month of following sales 15.0% in second month following sales The accounts receivable balance on January 1 is $68,000. Of this amount, $54,000 represents uncollected December sales and $14,000 represents uncollected November sales.The total cash collected during January would be:$241,000$300,000$120,000$229,0004.Bracken Corporation is a small wholesaler of gourmet food products. Data regarding the store’s operations follow: •Sales are budgeted at $380,000 for November, $400,000 for December, and $400,000 for January.•Collections are expected to be 80% in the month of sale, 19% in the month following the sale, and 1% uncollectible.•The cost of goods sold is 75% of sales.•The company would like to maintain ending merchandise inventories equal to 65% of the next month’s cost of goods sold. Payment for merchandise is made in the month following the purchase.•Other monthly expenses to be paid in cash are $22,200.•Monthly depreciation is $19,400.•Ignore taxes.Balance SheetOctober 31 Assets Cash$32,000 Accounts receivable, net of allowance for uncollectible accounts80,000 Merchandise inventory185,250 Property, plant and equipment, net of $608,000 accumulated depreciation1,190,000 Total assets$1,487,250 Liabilities and Stockholders’ Equity Accounts payable$250,000 Common stock880,000 Retained earnings357,250 Total liabilities and stockholders’ equity$1,487,250 December cash disbursements for merchandise purchases would be:$275,250$294,750$300,000$195,0005.Bracken Corporation is a small wholesaler of gourmet food products. Data regarding the store’s operations follow: •Sales are budgeted at $350,000 for November, $370,000 for December, and $370,000 for January.•Collections are expected to be 80% in the month of sale, 18% in the month following the sale, and 2% uncollectible.•The cost of goods sold is 75% of sales.•The company would like to maintain ending merchandise inventories equal to 80% of the next month’s cost of goods sold. Payment for merchandise is made in the month following the purchase.•Other monthly expenses to be paid in cash are $21,900.•Monthly depreciation is $19,100.•Ignore taxes.Balance SheetOctober 31 Assets Cash$29,000 Accounts receivable, net of allowance for uncollectible accounts77,000 Merchandise inventory210,000 Property, plant and equipment, net of $605,000 accumulated depreciation1,175,000 Total assets$1,491,000 Liabilities and Stockholders’ Equity Accounts payable$287,500 Common stock850,000 Retained earnings353,500 Total liabilities and stockholders’ equity$1,491,000 The difference between cash receipts and cash disbursements in December would be:$16,000$132,100$62,600$30,5506.LFM Corporation makes and sells a product called Product WZ. Each unit of Product WZ requires 3.6 hours of direct labor at the rate of $15.00 per direct labor-hour. Management would like you to prepare a Direct Labor Budget for June. The budgeted direct labor cost per unit of Product WZ would be:$15.00 per unit$31.80 per unit$8.20 per unit$54.00 per unit7.Skeete Inc. bases its selling and administrative expense budget on the number of units sold. The variable selling and administrative expense is $4.10 per unit. The budgeted fixed selling and administrative expense is $30,150 per month, which includes depreciation of $3,420. The remainder of the fixed selling and administrative expense represents current cash flows. The sales budget shows 4,000 units are planned to be sold in November.Required:Prepare the selling and administrative expense budget for November.Cash disbursement for selling and administrative expenses : ?e}ru:td”rewenssA”i”,:”n”ioptriscdeb_ta,”{}”:62″_],[0″:67″_l,ul:n1″_5,”llnu”:26″_},:{2″_3,”seal:f2″_4,”-1″:50″_1,:-4″_2,”-1″:31″_0,”:_5,”:04″”_e,lsfa”:48″_},:{7″_3,”}]90:47″_7,”59″:34″_[{“:23″_e,ru:t5″_4,”1″leit%20Tew”N”:mena,”}]seal:f7″_4,”:14″_5,”[]”:33″_},0″10:”1″”c”,48″3″:c0{“”:19″_},3″”2″:”0:{9″_5,”]]}}e”nspoes%20rermbNulety”s”:_7,”e}ru:t3″_4,”N”IOUTOL”S”:76″_:{5″_5,”}}uetr”:_1,”%24″:”1″_8,”:23″_5,”uetr”:63″_:{5″_5,”Y”NCREUR”C”:73″_:{9″_2,”}}”””:79″_”,)~(7~a:”5″_7{“”:56″_},”””:79″_”,:”5″_7{“”:30″_:{2″”_:{0″_2{“},”})%3B11%2023,16,%2037(1gb%20rr:locod-unrokgac”b”:_8,””}1)21,%2063%2017,13b(rg:”9″”_”,ONTIESQU:”6″_7{“”:55″_},”}:”9″_7,”s”seenxp%20evetirastnimiadd%20ang%20inllser%20fot%20enemrsbuis%20dshCa:”5″_7{“”:30″_:{2″”_:{0″_2{“[[“:13″_e,lsfa”:41″_},n”owpDro”d”:27″_1,:-5″_2,”{}”:75″_e,lsfa”:82″_:{8″_2,””””:22″_e,lsfa”:35″_e,ru:t6″_3,”{}”:55″_”,leab%20TedtltiUn:”9″_6,”:27″_1,”:18″_5{“:[5″_6{”

 

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