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Answers_Chapter 9 - Exercise 9-21 Sales Cash receipts From...

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Exercise 9-21 April May June Sales ............................................................ $80,000 $60,000 $90,000 Cash receipts: From cash sales ...................................... $40,000 $30,000 $45,000 From sales on account ............................ 36,000 34,000 39,000 Total cash receipts ...................................... $76,000 $64,000 $84,000 Payments of accounts payable during 20x1= (1,100,000) euros Accounts receivable, 12/31/x1 = 460,000 y Accumulated depreciation, 12/31/x1 = $ 960,000 Retained earnings, 12/31/x1 = $2,450,000 Exercise 9-22 1 Required production during the year =450,000 2 Purchases of raw material = 1,010,000 Exercise 9-23 1 Cash collections in October = $84,400 2 Cash collections in fourth quarter = $230,000 Exercise 9-24 1 Total required production = 655,720 2 Total raw-material purchases during third quarter = $2,645,000 Exercise 9-25 1 Expected Cash Collections August = 46,200 2 Expected Cash Disbursements August = $67,320 3 Expected Cash Balance August 31 =$ 21,880 Exercise 9-27 Total Sales in January 20x2 $100,000 $130,000 $160,000 Cash receipts in January, 20x2 From December sales on account ............... $ 7,125 $ 7,125 $ 7,125 From January cash sales .............................. 75,000 97,500 120,000 From January sales on account ................... 20,000 26,000 32,000
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Total cash receipts ....................................... $ 102,125 $130,625 $159,125 Exercise 9-28 1 Budgeted cash collections for December =$208,000 2 Income before taxes =$ 10,000 3 December 31 balance in accounts payable will be $153,000. Exercise 9-29 1 Direct professional labor budget for the month of June:= $144,000 2 Cash collections during June= $184,000 3 Total overhead and administrative expenses $20,000 Problem 9-30 January February March Quarter 1 Total direct-labor cost = $186,200 $158,270 $125,685 $470,155 Total manufacturing overhead $120,000 $109,000 $90,250 $319,250 Problem 9-31 January February March 1 Total cash collections =
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