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Author Question: Morgan Manufacturing is preparing its cash budget for the second quarter. The inventory manager has ... (Read 14 times)

kms5229

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on: Feb 5, 2023

Question 1

Alexa Industries has the following amounts budgeted for selling and administrative expenses for February:

Advertising$78,600
Utilities56,200
Office equipment depreciation14,800
Bad debts6,400
Entertainment13,200
What amount will Alexa report on its February cash budget for selling and administrative expenses?
◦ $169,200
◦ $154,400
◦ $156,000
◦ $148,000

Question 2

Morgan Manufacturing is preparing its cash budget for the second quarter. The inventory manager has provided the following amounts budgeted for materials purchases:

April$62,880
May44,960
June47,360

The controller reports that Morgan pays for 20% of its purchases in the month of purchase, 60% in the month following purchase, and 20% in the second month after purchase. What are Morgan's budgeted cash payments for purchases in June?
◦ $9,472
◦ $39,552
◦ $49,024
◦ $89,912
Managerial Accounting ¦ Davis ¦ 4th Edition
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Marked as best answer by kms5229 on Feb 5, 2023

furthoh

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Reply #1 on: Feb 5, 2023
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kms5229

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Reply 2 on: Feb 5, 2023
Great answer, keep it coming :)

hramirez205

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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