Prepare a schedule for january and february showing budgeted

Reference no: EM13227263

Denard Shoe Company has projected sales in Shoes for the first part of the year as follows:

Denard has a desired ending balance of shoes on hand equal to 10% of the following month's expected shoe sales. On December 31, Denard had 5,000 shoes in stock.

Cash production costs are $5.00 per unit produced and each unit is sold on account for $35. Of the production costs, 20% are paid in the month in which they are incurred, 35% in the following month, and the balance in the next month. Selling and administrative expenses, including $15,000 in depreciation, amount to $80,000 per month. The accounts payable balance on December 31 totals $190,000. December production costs equaled $150,000. Prepare a schedule for January and February showing budgeted cash disbursements.

Reference no: EM13227263

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