· Beginning cash balance on March 1, $77 . Cash receipts from sales, $300,000. . Cash payments for direct materials, $139 Cash payments for direct labor, $72,000 -. Cash payments for overhead, $43,000. . Cash payments for sales commissions,
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Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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- Using the following information: a. Beginning cash balance on March 1, $80,00. b. Cash receipts from sales, $306,000. c. Cash payments for direct materials, $135,000. d. Cash payments for direct labor, $73,000. e. Cash payments for overhead, $41,000. f. Cash payments for sales commissions, $7,000 g. Cash payments for interest, $110 (1% of beginning loan balance of $11,000) h. Cash repayment of loan, $11,000. Prepare a cash budget for March for Gado Company. GADO COMPANY Cash Budget March Total cash available Less: Cash payments for Total cash payments Loan activity Loan balance, end of month D-pptx A Presentation3.pptx 1 Jarvis CST 141.00...pptx A Musical Theatre Hi...ppt re to searchUsing the following information: a. Beginning cash balance on March 1, $78,000. b. Cash receipts from sales, $301,000. c. Cash payments for direct materials, $131,000. d. Cash payments for direct labor, $77,000. e. Cash payments for overhead, $39,000. f. Cash payments for sales commissions, $7,000 g. Cash payments for interest, $100 (1% of beginning loan balance of $10,000) h. Cash repayment of loan, $10,000. Prepare a cash budget for March for Gado Company.Using the following information: a. Beginning cash balance on March 1, $76,000. b. Cash receipts from sales, $305,000. c. Cash payments for direct materials, $134,000. d. Cash payments for direct labor, $77,000. e. Cash payments for overhead, $41,000. f. Cash payments for sales commissions, $8,000 g. Cash payments for interest, $150 (1% of beginning loan balance of $15,000) h. Cash repayment of loan, $15,000. Prepare a cash budget for March for Gado Company. GADO COMPANY Cash Budget March Total cash available Less: Cash payments for Total cash payments Loan activity Loan balance, end of month
- Using the following information: a. Beginning cash balance on March 1, $82,000. b. Cash receipts from sales, $308,000. c. Cash payments for direct materials, $132,000. d. Cash payments for direct labor, $76,000. e. Cash payments for overhead, $40,000. f. Cash payments for sales commissions, $7,000 g. Cash payments for interest, $200 (1% of beginning loan balance of $20,000) h. Cash repayment of loan, $20,000. Prepare a cash budget for March for Gado Company. Total cash available Less: Cash payments for Total cash payments Preliminary cash balance Loan activity GADO COMPANY Cash Budget March 0 0 0Using the following information: a. Beginning cash balance on March 1, $81,000. b. Cash receipts from sales, $309,000. c. Cash payments for direct materials, $134,000. d. Cash payments for direct labor, $73,000. e. Cash payments for overhead, $43,000. f. Cash payments for sales commissions, $8,000 g. Cash payments for interest, $130 (1% of beginning loan balance of $13,000) h. Cash repayment of loan, $13,000. Prepare a cash budget for March for Gado Company. GADO COMPANY Cash Budget March Beginning cash balance Add: Cash receipts from sales Total cash available Less: Cash payments for 81,000 309,000 390,000 Direct materials 134,000 Direct labor 73,000 Overhead 43,000 Sales commissions 8,000 Interest on loan 130 Total cash payments 258,130 Ending cash balance $ 131,870 Loan activity Beginning cash balance 13,000 Repayment of Bank loan 118,870 Loan balance, end of month %24Using the following Information: a. Beginning cash balance on March 1, $78,000. b. Cash receipts from sales, $305,000. c. Cash payments for direct materials, $138,000. d. Cash payments for direct labor, $70,000. e. Cash payments for overhead, $40,000. f. Cash payments for sales commissions, $8,000 g. Cash payments for Interest, $120 (1% of beginning loan balance of $12,000) h. Cash repayment of loan, $12,000. Prepare a cash budget for March for Gado Company. Total cash available Less: Cash payments for Total cash payments Preliminary cash balance Loan activity Ending cash balance Loan balance, end of month GADO COMPANY Cash Budget March
- Using the following information: Beginning cash balance on March 1, $75,000. Cash receipts from sales, $302,000. Cash payments for direct materials, $134,000. Cash payments for direct labor, $70,000. Cash payments for overhead, $36,000. Cash payments for sales commissions, $8,000 Cash payments for interest, $180 (1% of beginning loan balance of $18,000) Cash repayment of loan, $18,000. Prepare a cash budget for March for Gado Company.What is the average collection period for the year for company ERT ( show your work) Sales-$2,600(30% cash, 70% credit); Inventory-$700;Depreciation -$1,200; Plant & Equipment $3,000; Accounts Receivable - $245; Notes Payable- $155On April 30, Holden Company had an Accounts Receivable balance of $18,000. During the month of May. total credits to Accounts Receivable were $52,000 from customer payments. The May 31 Accounts Receivable balance was $13.000. What was the amount of credit sales during May? O $52,000. O $32,000. O $47,000. $57,000. O 55,000.
- 1. During December, A Company started doing business and had gross credit trade sales of $800,000, terms 2/10 Net 30. The cost of goods sold of $480,000, selling general administration costs of $100,000, Interest Expense of $10,000; and an income tax rate of 30%. a. Prepare an income statement b. Prepare journal entries Assuming gross method and all payments for the trade sales were made within 10 days.Receiveables: A company has accounts recieveable of $6,333. Sales for the year were $9,800 . What is its average collection period? Show & expalin the work.The payment schedule of purchases made on account is as follows: 75% during the month of purchase, 15% in the month after the month of purchase, and 10% in the subsequent month. Total credit purchases were P150,000 in October and P220,000 in December. Total payments on credit purchases were P209,250 in December. What were the credit purchases in the month of November? A) P200,000 B P195,000 P292,500 D P180,000