1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Oksana_A [137]
3 years ago
6

Deitz Corporation is projecting a cash balance of $33,300 in its December 31, 2019, balance sheet. Deitz’s schedule of expected

collections from customers for the first quarter of 2020 shows total collections of $205,350. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $47,730. Other information gathered for the first quarter of 2020 is sale of equipment $3,330; direct labor $77,700, manufacturing overhead $38,850, selling and administrative expenses $49,950; and purchase of securities $15,540. Deitz wants to maintain a balance of at least $27,750 cash at the end of each quarter. Prepare a cash budget for the first quarter.
Business
1 answer:
Kisachek [45]3 years ago
7 0

Answer:

Deitz Corporation

Cash Budget

For the Quarter ended March 31, 2020:

Beginning balance                              $33,300

Cash Collections From Customers   205,350

Sale of Equipment                                   3,330

Total available cash                          $241,980

Cash Payments:

Direct materials               $47,730

Direct labor                        77,700

Manufacturing overhead  38,850

Selling & Administrative   49,950

Purchase of Securities      15,540  $(229,770)

Ending Balance                                   $12,210

Minimum Balance                                27,750

Shortfall                                              $15,540

Explanation:

Deitz Corporation uses this Cash Budget which it has prepared to understand its financial needs for the next quarter.  For example, with the minimum balance of $27,750 most likely based on past experience the corporation will start making arrangements for some outside funds to the tune of $15,540 or more to meet its cash needs for the first quarter.

You might be interested in
Contribution Margin Molly Company sells 37,000 units at $19 per unit. Variable costs are $11.59 per unit, and fixed costs are $1
yarga [219]

Answer:

(a) Contribution margin ratio = 0.39, or 39%

(b) the unit contribution margin = $7.4 per unit

(c) income from operations = $164,470

Explanation:

Total revenue = 37,000 × $19 = $703,000

Total variable cost = 37,000 × $11.59 = $428,830

Margin = $703,000 - $428,830 = $274,170

(a) the contribution margin ratio

Contribution margin ratio = $274,170/$703,000 = 0.39, or 39%

(b) the unit contribution margin

Unit contribution margin =  $19 - $11.59 = $7.4 per unit

(c) income from operations

Income from operations = $274,170 - $109,700 = $164,470

5 0
3 years ago
On july 1 of the current calendar year, plum co. paid $7,500 cash for management services to be performed over a two-year period
morpeh [17]

Dec 31              Management Services ....................................$1875

                           To Prepaid Expenses.....................................................$1875

(Being prepaid expenses recognised for the year)


6 0
3 years ago
Read 2 more answers
You earn $420 per week. you put socual security taxes
Drupady [299]
2940 would be 420 per week
4 0
3 years ago
When megan purchased several bottles of pepsi beverages and snacks to bring to her family's holiday celebration, it represented
den301095 [7]
When Megan purchased the Pepsi beverages and snacks to bring to her family's holiday celebration this represented the purchase of consumer goods. Consumer goods are anything from Pepsi products, to automobiles and refrigerators.
4 0
3 years ago
Which of the following categories of persons are usually notentitled to healthcare at the government's expense?
Alika [10]

Answer:

The correct answer is letter "A": Suspects who are being questioned by police.

Explanation:

Suspects of a crime are people who the police believe guilty of an offense based on information they have gathered that may prove that people are at fault, yet, guilt has not been proven. During a questionnaire, suspects are not the responsibility of the government. Then, in front of any medical issue caused during the interview, the suspect will have to handle the coverage of the assistance expense with <em>his or her insurance</em>.

7 0
3 years ago
Other questions:
  • True or false: capitalism is a competitive economic system in which private citizens own the factors of production
    13·1 answer
  • On May 3, 2020, Pina Company consigned 90 freezers, costing $470 each, to Remmers Company. The cost of shipping the freezers amo
    10·1 answer
  • You live in a town with 300 adults and 200 children, and you are thinking about putting on a play to entertain your neighbors an
    9·1 answer
  • The Bramble Acres Inn is trying to determine its break-even point during its off-peak season. The inn has 50 rooms that it rents
    11·1 answer
  • Avent, Inc. is a real estate investment company located in Boston, Massachusetts. Avent was approached by a property owner in No
    10·1 answer
  • According to Benjamin Lang what is the hardest thing about being an entrepreneur
    9·1 answer
  • Scenario 1 Your deliveries to retail stores have not been on time lately, and neither have the departures of loaded trucks from
    6·1 answer
  • What is a business's target market?
    6·2 answers
  • 4. The company receives money from customers. What are the elements involved in this transaction? Use the T-account rules to fin
    13·1 answer
  • Refer to the short-run data in the accompanying graph. The profit-maximizing output for this firm is...
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!