Business, 28.01.2020 22:49, celestemaria0727
Marcel company projects the following sales for the first three months of the year: $11,200 in january; $12,300 in february; and $11,100 in march. the company expects 60% of the sales to be cash and the remainder on account. sales on account are collected 50% in the month of the sale and 50% in the following month. the accounts receivable account has a zero balance on january 1. round to the nearest dollar.
marcel company has the following projected costs for manufacturing and selling and administrative expenses. all costs are paid in month incurred except direct materials, which are paid in the month following the purchase, and property taxes, which are prepaid for the entire year on january 2. the accounts payable balance has a zero balance on january 1:
direct materials purchases: $3,100 in january; $3,500 in february; and $4,800 in march.
direct labor costs: $3,300 in january; $3,500 in february; and $3,600 in march.
other manuafacturing expenses: $550 in january; $1,200 in february; and $1,200 in march. the amounts include $550 of depreciation per month.
selling and admin expenses: $3,500 in january; $3,750 in february; and $3,750 in march.
property taxes: $370 per month
additional information: marcel’s beginning cash balance is $6,000, and marcel desires to maintain a minimum cash balance of $5,000
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Marcel company projects the following sales for the first three months of the year: $11,200 in janu...
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