How much is cash balance at the end of october

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Reference no: EM132943540

Questions -

Q1. Tulum Inc. makes a Mexican chocolate mix. In the first 4 months of the coming year. Tulum expects the following unit sales:

January 22,000

February 20,000

March 30,000

April 31,000

Tulum's policy is to have 20% of next month's sale in ending inventory. On January 1, it is expected that there will be 1,300 boxes of the chocolate mixture on hand. How many boxes must be produced for the first quarter?

Q2. Bowling Company budgeted the following amounts:

Variable cost of production:

Direct materials 3 pounds @$0.60 per pound

Direct labor 0.5 hour @$16 per hour

Variable overhead 0.5 hour @$2.20 per hour fixed overhead (total):

Materials handling $6,200

Depreciation $2,600

How much is total flexible budget for 3,500 units?

How much is total flexible budget for 2,500 units?

How much is total flexible budget for 3,000 units?

Q3. Wight Inc. purchases raw materials on account for use in production. The direct materials purchases budget shows the following expected purchases on account:

April $374,400

May 411,200

June 416,000

Wight typically pays 20% on account in the month of billing and 80% the next month.

How much is required total payment in June?

How much is required total payments in May?

Q4. La Famiglia Pizzeria provided the following information for the month of October:

a. Sales are budgeted to be $157,000. About 85% of sales is cash; the remainder is on account.

b. La Famiglia expects that, om average, 70% of credit sales will be paid on the month of sale, and 28% will be paid in the following month.

c. Food and supplies purchases, all on account, are expected to be $116,000. La Famiglia pays 25% in the month of purchase and 75% in the month following purchase.

d. Most of the work is done by the owners, who typically withdraw $6,000 a month from the business as their salary. (Note: The $6,000 is a payment in total for the two owners, not per person). Various part-time workers cost $7,300 per month. They are paid for their work weekly, so on average 90% of their wages is paid in the month incurred and the remaining 10% in the next month.

e. Utilities average $5,950 per month. Rent on the building is $4,100 per month.

f. Insurance is paid quarterly; the next payment of $1,200 is due in October.

g. September sales were $181,500 and purchases of food and supplies in September equalled $130,000

h. The cash balance in October 1 is $2,147

How much is total cash needed in October to pay for food and supplies purchases?

How much is cash balance at the end of October?

How much is total cash inflows/receipts in October?

Reference no: EM132943540

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