Built-Tight is preparing its master budget. Budgeted sales and cash payments follow: July August September...
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Accounting
Built-Tight is preparing its master budget. Budgeted sales and cash payments follow: July August September Budgeted sales $ 58,000 $ 74,000 $ 54,000 Budgeted cash payments for Direct materials 15,960 13,240 13,560 Direct labor 3,840 3,160 3,240 Overhead 20,000 16,600 17,000 Sales to customers are 25% cash and 75% on credit. Sales in June were $55,500. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $39,000 in cash and $4,800 in loan
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