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128 ratchet manufacturing anticipates total sales for august september and october o 4295915

 

128.Ratchet Manufacturing anticipates total sales for August, September, and October of $200,000, $210,000, and $220,500 respectively. Cash sales are normally 25% of total sales and the remaining sales are on credit. All credit sales are collected in the first month after the sale. Compute the amount of cash received for September.  
 
 

A.$150,000.

B.$202,500.

C.$157,500.

D.$102,500.

E.$307,500.

129.Ratchet Manufacturing anticipates total sales for August, September, and October of $200,000, $210,000, and $220,500 respectively. Cash sales are normally 25% of total sales and the remaining sales are on credit. All credit sales are collected in the first month after the sale. Compute the amount of accounts receivable to be reported on the company's budgeted balance sheet for August.  
 
 

A.$150,000.

B.$50,000.

C.$157,500.

D.$52,500.

E.$200,000.

130.Use the following information to determine the ending cash balance to be reported on the month ended June 30 cash budget.

a. Beginning cash balance on June 1, $73,000.
b. Cash receipts from sales, $413,000.
c. Budgeted cash disbursements for purchases, $268,000.
d. Budgeted cash disbursements for salaries, $35,000.
e. Other budgeted cash expenses, $57,000.
f. Cash repayment of bank loan, $32,000.
g. Budgeted depreciation expense, $34,000. 
 
 

A.$94,000.

B.$60,000.

C.$126,000.

D.$149,000.

E.$21,000.

131.Trago Company manufactures a single product and has a JIT policy that ending inventory must equal 5% of the next month's sales. It estimates that May's ending inventory will consist of 14,000 units. June and July sales are estimated to be 280,000 and 290,000 units, respectively. Compute the number of units to be produced that would appear on the company's production budget for the month of June. 
 
 

A.290,000.

B.294,500.

C.280,500.

D.280,000.

E.266,000.

132.Trago Company manufactures a single product and has a JIT policy that ending inventory must equal 5% of the next month's sales. It estimates that May's ending inventory will consist of 14,000 units. June and July sales are estimated to be 280,000 and 290,000 units, respectively. Trago assigns variable overhead at a rate of $1.80 per unit of production. Fixed overhead equals $400,000 per month. Compute the number of units to be produced and use this amount to compute the total budgeted overhead that would appear on the factory overhead budget for month of June.  
 
 

A.$920,200.

B.$904,900.

C.$930,100.

D.$922,000.

E.$878,800.

133.Glaston Company manufactures a single product using a JIT inventory system. The production budget indicates that the number of units expected to be produced are 193,000 in October, 201,500 in November, and 198,000 in December. Glaston assigns variable overhead at a rate of $0.75 per unit of production. Fixed overhead equals $150,000 per month. Compute the total budgeted overhead that would appear on the factory overhead budget for month of October. 
 
 

A.$343,000.

B.$150,000.

C.$144,750.

D.$301,125.

E.$294,750.

134.Zhang Industries sells a product for $700. Unit sales for May were 400 and each month's sales are expected to exceed the prior month's results by 3%. Compute the total sales dollars to be reported on the sales budget for month ended June 30. 
 
 

A.$280,000.

B.$297,000.

C.$271,600.

D.$288,400.

E.$364,000.

135.Zhang Industries sells a product for $700. Unit sales for May were 400 and each month's sales are expected to exceed the prior month's results by 3%. Zhang pays a sales manager a monthly salary of $3,000 and a commission of 2% of sales. Compute the projected selling expense to be reported on the selling expense budget for the manager for month ended June 30. 
 
 

A.$8,600.

B.$11,652.

C.$8,652.

D.$5,768.

E.$8,768.

136.Zhang Industries sells a product for $700. Unit sales for May were 400 and each month's sales are expected to exceed the prior month's results by 3%. Zhang pays a sales manager a monthly salary of $3,000 and a commission of 2% of sales in dollars. Assume 30% of Zhang's sales are for cash. The remaining 70% are credit sales; these customers pay in the month following the sale. Compute the budgeted cash receipts for June. 
 
 

A.$282,520.

B.$196,000.

C.$201,880.

D.$280,000.

E.$285,880.

137.Zhang Industries budgets production of 300 units in June and 310 units in July. Each finished unit requires 4 pounds of raw material K, which costs $5 per pound. Each month's ending inventory of raw materials should be 30% of the following month's budgeted production. The June 1 raw materials inventory has 360 pounds of raw material K. Compute budgeted purchases for raw material K for June. 
 
 

A.1,200 lbs.

B.1,240 lbs.

C.1,212 lbs.

D.1,220 lbs.

E.880 lbs.

 

 

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