| Total cash receipts QS 23 16 Cash disbursements for merchandise L.O. P1 | T Mart purchased $100,000 of merchandise in August and expects to purchase $120,000 in September. Merchandise purchases are paid as follows: 25% in the month of purchase and 75% in the following month. | | Compute cash disbursements for merchandise for September. (Input all amounts as positive values. Omit the “$” sign in your response.) | T MART
Cash Disbursements for Merchandise (Budgeted)
For The Month Ended September 30 | | Cash disbursements for September purchases | $ | | Cash disbursements for August purchases | $ | |
| | Total cash disbursements | $ | QS 23 23 Sales budget L.O. P1 | Shay, Inc., is preparing its master budget for the quarter ending March 31. It sells a single product for $25 per unit. Budgeted sales for the next four months follow. | | | January | February | March | April | | Sales in units | 1,200 | | 1,000 | | 1,600 | | 1,400 | |
| | Prepare a sales budget for the months of January, February, and March. (Omit the “$” sign in your response.) | SHAY INC.
Sales Budget
For January, February, and March | | | Budgeted Unit Sales | Budgeted Unit Price | Budgeted Total Sales | | January | | $ | $ | | February | | | | | March | | | | |
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| | Totals for the quarter | | | $ | QS 23 24 Cash receipts budget L.O. P1 | Shay, Inc., is preparing its master budget for the quarter ending March 31. It sells a single product for $25 per unit. Budgeted sales for the next four months follow. | | January | February | March | April | | Sales in units | 1,200 | | 1,000 | | 1,600 | | 1,400 | |
| | In addition, sales are 40% cash and 60% on credit. All credit sales are collected in the month following the sale. The January 1 balance in accounts receivable is $10,000. Prepare a schedule of budgeted cash receipts for January, February, and March. (Input all amounts as positive values. Omit the “$” sign in your response.) | SHAY INC.
Cash Receipts Budget
For January, February, and March | | January | February | March | | $ | $ | $ | | | | | |
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| | Total cash receipts | $ | $ | $ | |
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| QS 23 25 Selling expense budget L.O. P1 | Shay, Inc., is preparing its master budget for the quarter ending March 31. It sells a single product for $25 per unit. Budgeted sales for the next four months follow. | | | January | February | March | April | | Sales in units | 1,200 | | 1,000 | | 1,600 | | 1,400 | |
| | In addition, sales commissions are 10% of sales and the company pays a sales manager a salary of $5,000 per month. Sales commissions and salaries are paid in the month incurred. | | Prepare a selling expense budget for January, February, and March. (Omit the “$” & “%” signs in your response.) | SHAY INC.
Selling Expense Budget
For January, February, and March | | | January | February | March | | $ | $ | $ | | % | % | % | |
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| | Total selling expenses | $ | $ | $ | | $ |