Managerial Accounting. 2 Questions due by 3/03/2015.

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EGE1986

Business Finance

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Here are two questions for managerial accounting. Provided the questions in a Word document. Due by 3/03/2015.


Unit5Assignment.docx

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1. Turkey Treats Company makes a product that is popular at Thanksgiving, so its biggest sales month is November. The company’s projected sales for the fourth quarter of this year are: Sales October $50,000 November $100,000 December $40,000 All sales are made on credit, and the company projects that 50% of sales each month will be collected in the month that the sales are made, 30% will be collected in the month following the sales, and 20% will be collected in the second month after the sale. August sales totaled $10,000 and September sales totaled $20,000. Prepare a schedule of cash collections from sales for each month in the fourth quarter. 2. The Tin Bucket Company projects the following direct materials purchases: December 2011 January 2012 February 2012 March 2012 Purchases on Account Cash Purchases $30,000 50,000 60,000 60,000 $20,000 30,000 20,000 30,000 The company pays for the cash purchases when they are made. The company pays for 70% of purchases on account in the month that the purchases are made and 30% in the next month. Prepare a schedule of expected cash payments (cash budget) for the first quarter of 2012.
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