Required : Prepare a cash budget for the Hale Company for the 2nd quarter of the year . Include April , May , June , and a quarter total in your budget . =================================================== ACCT 556 Week 6 Homework Problem
Required : Prepare a cash budget for the Hale Company for the 2nd quarter of the year . Include April , May , June , and a quarter total in your budget . =================================================== ACCT 556 Week 6 Homework Problem
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ACCT 556 Week 6 Problem Proforma Statements
The Duncan Company has just completed a number of budgets for the coming year . The cost of goods manufactured schedule , the proforma income statement and the balance sheet still have to be completed . The following information is available :
Information from recent budgets for the coming year : 1 . Projected sales are $ 1,800,000 ( 12,690 units ) 2 . Projected direct material purchases are $ 500,000 3 . Projected direct material usage is $ 495,000 4 . Projected direct labor expense is $ 400,000 5 . Projected overhead is $ 380,000 6 . Projected selling expenses are $ 120,000 7 . Projected administrative expenses are $ 300,000 8 . Projected cash collections are $ 1,785,000 9 . Projected payments for materials ( accounts payable ) are $ 520,000 10 . Projected payments for other operating expenses ( other current liabilities ) are $ 1,130,000 11 . Projected depreciation expense is $ 55,000 and is already included in mfg overhead