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Solved The dispensation of Zigby Manufacturing prepared the

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Solved The direction of Zigby Manufacturing prepared the

ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017. Assets. Cash, $, 69,000. Accounts receivable, 432,000. Raw materials inventory, 86,000. admission to this page has been denied because we believe you are using automation tools to browse the website.

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Business ‚ Accounting. examine details. The presidency of Zigby Manufacturing prepared the following estimated balance sheet for March 2017 ZIGBY‚ 

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The supervision of Zigby Manufacturing prepared the following

Answer to: The paperwork of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: a. Sales for March increase 21000 a. Sales for March affix 21,000 units. Forecasted sales in units are as follows: April 21,000, May 15,000, June 21,600 and July 21,000. Sales 256,000 units are forecasted for the entire year. The product's selling price is $25 per unit and its put in product cost is $20.10 per unit.

b. Company policy calls for a given month's ending raw materials inventory is 4,210 units, which complies as soon as the policy. The usual June 30 ending raw materials inventory is 5,600 units. Raw materials cost $20 per unit. Each finished unit requires 0.50 units of raw materials.

c. Company policy calls for a given month's ending finished goods inventory to equal 80% of the neighboring bordering month's conventional sales. The March 31 finished goods inventory is 16,800 units, which complies once the policy.

e. Overhead is allocated based as regards talk to labor hours. The predetermined adaptable overhead rate is $4.30 per take in hand labor hour. Depreciation of $37,960 per month is treated as a definite factory overhead.

f. Sales representatives' commissions are 7% of sales and are paid in the month of the sales. The sales manager's monthly salary is $4,600.

g. Monthly general and administrative expenses put in $28,000 in administrative salaries and 0.5% monthly combination in this area the long-term note payable.

h. The company expects 35% of sales to be for cash and the long-lasting 65% something like credit. Receivables are collected in full in the month following the sale (none are collected in the month of the sale).

i. All raw materials purchases are vis-а-vis tab and no payables arise from any supplementary further transactions. One month's raw materials purchases are fully paid in the next month.

j. The minimum ending cash balance for all months is $56,000. If necessary, the company borrows acceptable cash, using a short-term note to pull off the minimum. Short-term observations clarification require an engagement payment of 1% at each month-end (before any repayment). If the ending cash balance exceeds the minimum, the excess will be applied to repaying the short-term remarks payable balance.

l. No cash payments for income taxes are to be made during the second encyclopedia quarter. Income tax will be assessed at 40% in the quarter and paid in the third reference book quarter.

Prepare the following budgets and other financial guidance as required. All budgets and added financial instruction should be prepared for the second calendar quarter, except as otherwise noted below. (Round calculations stirring to the nearest combine dollar, except for the amount of cash sales, which should be rounded next to to the nearest gather together dollar.)

The general and administrative budget tote up the expense incurred by the company which are not considered as allowance of the product cost, or those that are not considered as share of the cost of goods sold. Usually, it includes rent, salaries, depreciation, insurance, depreciation, in the course of others.

Cash budgets are approximations of the inflow and outflow of a company's cash in a given get older period. Explore the components of these calculations through examples of how cash budgets are prepared.

Connect - Managerial Accounting Exam (Ch 7-9) - Orange

1 Okt 2016 The supervision of Zigby Manufacturing prepared the following estimated To prepare a master budget for April, May, and June of 2013,‚ 

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The doling out of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: ZIGBY MANUFACTURING Estimated Balance Sheet March 31,‚ 

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