Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. exercise 22-19 (algo) schedule of cash payments lo

Exercise 22-19 (Algo) Schedule of cash payments LO P2 Zisk Company purchases direct materials on...

60.1K

Verified Solution

Question

Accounting

imageimage

Exercise 22-19 (Algo) Schedule of cash payments LO P2 Zisk Company purchases direct materials on credit. Budgeted purchases are April, $88,000; May, $118,000; and June, $128,000. Cash payments for purchases are: 75% in the month of purchase and 25% in the first month after purchase. Purchases for March are $78,000 Prepare a schedule of cash payments for direct materials for April, May, and June. QS 22-24 (Algo) Manufacturing: Cash budget LO P2 Using the following information: a. Beginning cash balance on March 1,$81,000. b. Cash receipts from sales, $310,000. c. Cash payments for direct materials, $138,000. d. Cash payments for direct labor, $71,000. e. Cash payments for overhead, $42,000. f. Cash payments for sales commissions, $8,000 g. Cash payments for interest, $190(1% of beginning loan balance of $19,000) h. Cash repayment of loan, $19,000. Prepare a cash budget for March for Gado Company

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students