Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
The master budget components for Land Company for the month ended June 30 appear below. Land Company produces and sells rakes for $10 each. Budgeted sales and cash disbursements for the next five months are:
Budgeted sales
Budgeted cash disbursements
April
20,000 units
$301,000
May
50,000 units
$362,000
June
30,000 units
$356,000
July
25,000 units
$332,000
August
15,000 units
$315,000
Additional information follows:
All sales are on account. The company's collection pattern is: 70% collected in the month of sale; 25% collected in the month following sale; and the remaining 5% are collected in the next month.
The accounts receivable balance on March 31 was $30,000.
Land's loan arrangement with its bank requires Land to maintain a minimum cash balance of $10,000. The cash balance at the beginning of June was $40,000.
Land desires to have enough rakes on hand at the end of each month equal to 20 percent of the following month's budgeted rake sales.
Five pounds of aluminum are required to produce each rake.
The company desires to have enough aluminum on hand at the end of each month equal to 10 percent of the following month's production needs.
Aluminum costs $0.40 per pound.
Each rake produced requires 6 minutes of direct labor.
Employees are paid $12 per hour. In addition, the cost of fringe benefits is $2.50 per hour.
MOH is applied at the rate of $0.60 per direct labor dollar.
Discuss the pros and cons of the U.S. Federal Government guaranteeing the pension funds of a private company when it declares bankruptcy. And whether the U.S. Federal Government should guarantee and state your rationale.
given the following data for harder company compute cost of goods manufactured direct materials used 120000 beginning
The 2011 financial statements of Leggett & Platt, Inc. include the following information in a footnote. What are the company's gross accounts receivable at the end of 2008?
Cheap Toys sells merchandise to the general public for cash or credit. It accepts several major credit cards. The company pays an average fee of 4% of sales to the credit card companies and 6% to the State of Florida in sales taxes.
anita vasquez received 180000 from her mothers estate. she placed the funds into the hands of a broker who purchased
Sepracor, Inc., a drug company, reported the following information. The company prepares its financial statements in accordance with GAAP.
a company issued 14 5-year bonds with a par value of 5000000 on january 1 2003. interest is to be paid seminannually on
In the space below, describe the advantages of budgeting and compute the ROI for each division below to two decimal places.
the sales manager of the walbrook company receives an annual bonus of 10 of net income after bonus and before income
Why would someone choose to use a perpetual over a period inventory system, and vice versa?
Differentiate between nonprofits and governments in regards to accounting for restricted funds. What are the potential reasons GASB issued a statement 54 clarifying the reporting and classification of funds for governmental accounting.
Upon examining the balance sheet of a large city, you notice that the total assets of the general fund far exceed those of the combined total of the city's ten separate special revenue funds.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd