Bruins Company Bruins follows: Company has projected sales and production in units for the second...
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Bruins Company Bruins follows: Company has projected sales and production in units for the second quarter of the year as April May June 30,000 20,000 25,000 Sales Production. 5,00 25,000 30,000 n Required: a. Cash production costs are budgeted at $6 per unit produced. Of these production costs, 40% are paid in the month in which they are incurred and the balance in the following month. Selling and administrative expenses (all paid in cash) amount to $60,000 per month. The accounts payable balance on March 31 totals $96,000, all of which will be paid in April. Prepare a schedule for each month showing budgeted cash disbursements for Bruins Company b. Assume that all units will be sold on account for $15 each. Cash collections from sales are budgeted at 60% in the month of sale, 30% in the month following the month of sale and the remaining 10% in the second month following the month of sale. Accounts receivable on March 31 totaled $255,000 $(45,000 from February's sales and the remainder from March.) Prepare a schedule for each month showing budgeted cash receipts for Bruins Company 255 5 210 arv
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