The company recomputes its predetermined overhead

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114. The company recomputes its predetermined overhead rate every month. The predetermined overhead rate for January should be: A) $1.00 B) $12.20 C) $11.20 D) $13.20 Level: Easy    LO:  6    Ans:  D 115. The January cash disbursements for manufacturing overhead on the manufacturing overhead budget  should be: Use the following information to answer 116-117 Rogers Corporation is preparing its cash budget for July. The budgeted beginning cash balance is  $25,000. Budgeted cash receipts total $141,000 and budgeted cash disbursements total $139,000. The  desired ending cash balance is $30,000. The company has an open line of credit that allows it to borrow  up to $160,000 at any time, with interest not due until the following month. This open line of credit will  not have to be used until July, if at all. 116. The excess (deficiency) of cash available over disbursements for July is: Brewer, Introduction to Managerial Accounting, 3/e 143
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Brewer, Introduction to Managerial Accounting, 3/e 144
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117. To attain its desired ending cash balance for July, the company should borrow: Use the following information to answer 118-119 Muecke Inc. is working on its cash budget for April. The budgeted beginning cash balance is $40,000.  Budgeted cash receipts total $150,000 and budgeted cash disbursements total $158,000. The desired  ending cash balance is $50,000. The company has an open line of credit, with interest not due until the  month following the month in which funds are borrowed. Prior to April, this open line of credit will not  have been used. 118. The excess (deficiency) of cash available over disbursements for April will be: A) $32,000 B) $190,000 C) $48,000 D) ($8,000) Level: Easy    LO:  8    Ans:  A 119. To attain its desired ending cash balance for April, the company needs to borrow: Essay
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