E9-29A (similar to) The Monachino Compary i prepaing ts cash payments busget The
ID: 2575665 • Letter: E
Question
E9-29A (similar to) The Monachino Compary i prepaing ts cash payments busget Theto cath payments the company aricipates making duing the second quarter afthe upceoming year @Click the icon to view the cash payment indormation.) Prepare a cash payments budget for Apni, May, and June and for the quartec (f a borx is not used in the tabie leave the box empty, do not enter a zero) The Monachino Company Cash Payments Budget For the Months of April through June Quarter Cash payments for direct materials 50% of current month purchases 50% ofExplanation / Answer
Solution:
Cash Payment Budget
April
May
June
Quarter
Cash payments for direct materials
50% of current month purchases
$67,500
(April 135000/2)
$60,500
(May 121000/2)
$72,500
(June 145000/2)
50% of last month's purchases
$56,500
(March 113000/2)
$67,500
(April 135000/2)
$60,500
(May 121000/2)
Total cash disbursements for materials
$124,000
$128,000
$133,000
$385,000
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Cash Payment Budget
April
May
June
Quarter
Cash payments for direct materials
50% of current month purchases
$67,500
(April 135000/2)
$60,500
(May 121000/2)
$72,500
(June 145000/2)
50% of last month's purchases
$56,500
(March 113000/2)
$67,500
(April 135000/2)
$60,500
(May 121000/2)
Total cash disbursements for materials
$124,000
$128,000
$133,000
$385,000
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