CALCULATOR TANDARD VIEW PRINTER VERSION BACK NE Exercise 9-17 Nieto Company\'s b

Question

CALCULATOR TANDARD VIEW PRINTER VERSION BACK NE Exercise 9-17 Nieto Company's budgeted sales and direct materials purchases are as follows. Budgeted D.M. Purchases Budgeted Sales January February March $276,100 237,500 261,400 $33,200 39,600 53,100 | Nieto's sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Nieto's purchases are 50% cash and 50% on account. Purchases on acount are paid 40% in the month of purchase, and 60% in the month following purchase Prepare a schedule of expected collections from customers for March. (Round answers to 0 decimal places, e.g. 2,500.) NIETO COMPANY Expected Collections from Customers March Total collections Prepare a schedule of expected payments for direct materials for March. (Round answers to 0 decimal places e.g. 2,500.) NIETO COMPANY Expected Payments for Direct Materials March

Explanation / Answer

(a)

NIETO COMPANY

Expected Collections from Customers

(b)

NIETO COMPANY

Expected Payments for Direct Materials

Cash sales Credit sales January 82,830 (276,100*30%) 193,270 (276,100*70%) February 71,250 (237,500*30%) 166,250 (237,500*70%) March 78,420 (261,400*30%) 182,980 (261,400*70%)

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.