Web6 jan. 2024 · Ans:- Little Annin Flag makers Workings for income statement Cost of Goods Manufactured Amount $ Beginning Raw material inventory 32,200.00 Raw material … WebLittle Annin Flagmakers Sales Budget (US$) April May Budgeted sales (units) 2,500 6,000 Selling price per unit $120 $120 Total Sales $ 300,000 $ 720,000 Little Annin Flagmakers Schedule of Expected Cash Collecti April May Accounts receivable Beginning balance $ 132,000 April sales $ 120,000 $ 165,000 May sales $ 288,000 June sales Total Cash …
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WebQuestion: LOAN DETAILS LAF has requested a line of credit of US$60,000 to cover production costs during the seasonal increase in business. Kent Bank uses the following terms on its lines of credit. All borrowing is done at the beginning of the month in whole dollar increments. WebCalculate the budgeted amounts for each cost category listed above for the 4,500 budgeted units. 2. Prepare a performance report using a budget based on expected (budgeted) …
WebLittle Annin Flagmakers budgets for US$30,000 ending cash balance each month and is requesting a line of credit that will allow it to adjust for its cash needs. The dividends of US$15,000 are paid each month. During the quarter, LAF planned to purchase equipment in May and June for US$47,820 and US$154,600 respectively. WebCash $37,745 Accounts receivable $132,000 Finished goods inventory $30,750 Finished goods cost per unit $75.00 Finished goods inventory (units) 410 Raw materials inventory $32,200 Raw materials (lb.) 4,600 Accounts payable $55,000 Land $520,000 Buildings and equipment $1,800,000 Accumulated depreciation ($750,000) Common stock $500,000 …
WebQuestion: Schedule of Expected Cash Collections (USD) April May June Quarter Accounts Receivable Beginning Balance S 132,000 April Sales May Sales June Sales Total Cash Collections: Accounts Receivable, June 30: Little Annin Flagmakers Production Budget April May 3,000 3,500 June 4,000 Quarter 10,500 July 5,000 August 2,000 Budgeted … WebCash is King: Master Budgets to Inform a Credit Decision1 Introduction Early one morning in March, Jordan Buford was preparing his daily work when his boss, Olivia Anton, approached him and announced, “Little Annin Flagmakers (LAF) has submitted an application for a line of credit (LOC) for April through June.
WebAccounts Payable, June 30: Little Annin Flagmakers Direct Labor Budget (USD) April May June Quarter Units to be produced DL hours per unit Total DL hours needed DL cost per …
WebLittle Annin Flagmakers Sales Budget (US$) April May June Budgeted sales (units) 2,500 6,000 3,000 Selling price per unit $120 $120 $120 Total Sales $ 300,000 $ 720,000 $ 360,000 Little Annin Flagmakers Schedule of Expected Cash Collections (US$) April May June Accounts receivable Beginning balance $ 132,000 April sales $ 120,000 $ 165,000 . grangemouth kwik fitWebIn the example of Kent Bank, the firm wants to analyze the financial situation of Little Annin Flagmakers by understanding how a drop in sales would affect the company. The analysis would showcase the effect of the change in the company's sales on the different financial statements and factors, particularly cash and financial budgets. chinese zodiac meaning of animalsWebmorrow county accident reports; idiopathic guttate hypomelanosis natural treatment; verne lundquist stroke. woodlands country club maine membership cost grangemouth land for saleWebA cash budget is a very important part of a finance ... Little Annin Flagmakers Schedule of Expected Cash Collections April May June Quarter Accounts Receivable Beginning Balance $1,32,000 $1,32,000 April Sales $1,20,000 $1,65,000 $2,85,000 May Sales $2,88,000 $3,96,000 $6,84,000 June Sales $1,44,000 $1,44,000 Total Cash Collections … chinese zodiac meaning oxWebOther Cash Outflows: Cash dividends paid each month: $15,000: Equipment purchases May: $47,820: Equipment purchases June: $154,600: Desired Ending Inventory: … grangemouth in the 1970sWebCash Balance, ending: Little Annin Flagmakers: Budgeted Income Statement (USD) Quarter Ending: June 30: Net Sales: Less: Cost of Goods Sold: Gross Margin: Less: … chinese zodiac meaningsWebLAF budgets for US$30,000 ending cash balance each month and is requesting a line of credit that will allow it to adjust for its cash needs. The dividends of US$15,000 are paid each month. During the quarter, LAF planned to purchase equipment in May and June for US$47,820 and US$154,600, respectively. grangemouth laport