Colter Company Prepares Monthly Cash Budgets
Colter Company Prepares Monthly Cash Budgets
P23-4A Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2014 are:
January
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February
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|||||
Sales
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$349,200
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$399,500
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Direct materials purchases
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110,500
|
130,100
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Direct labor
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90,160
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100,700
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Manufacturing overhead
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69,720
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75,380
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Selling and administrative expenses
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78,850
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85,620
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1. Credit sales: November 2013, $251,900; December 2013, $319,900.
2. Purchases of direct materials: December 2013, $100,800.
3. Other receipts: January—Collection of December 31, 2013, notes receivable $15,150; February—Proceeds from sale of securities $7,260.
4. Other disbursements: February—payment of $4,710 cash dividend.
b. Prepare a cash budget for January and February. (List items that increase cash balance first.)
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