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1_ Kidman Publishers Inc. budgeted production of 71,000 diaries in 2016. Paper is required to...

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Accounting

1_ Kidman Publishers Inc. budgeted production of 71,000 diaries in 2016. Paper is required to produce a diary. Assume 92 square yards of paper are required for each diary. The estimated January 1, 2016, paper inventory is 392,000 square yards. The desired December 31, 2016, paper inventory is 359,000 square yards.

If paper costs $0.11 per square yard, determine the direct materials purchases budget for 2016. If required, round your final answer to the nearest dollar..........$

2_Kerrie Publishers Inc. collects 80% of its sales on account in the month of the sale and 20% in the month following the sale.

If sales on account are budgeted to be $558,000 for April and $480,000 for May, what are the budgeted cash receipts from sales on account for May?...........$

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