Credit Sales/Overhead Costs
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Please help me with the following:
THE FOLLOWING ARE CREDIT SALES BUDGET BY BELL COMPANY:
JAN $124,000
FEB 120,000
MAR 135,000
APR 140,000
MAY 142,000
Usually, the company collects 50% of the accounts receivable in the month of sale, 30% in the month following the sale, and 18% in the second month following the sale. TWO percent are uncollectible. How much does the company anticipate as cash receipts for March?
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also, please:
Lite Manufacturing Company prepared a fixed budget of 40,000 direct labor hours, with estimated costs of $200,000 for variable overhead and $60,000 for fixed overhead. Lite then prepared a flexible budget at 38,00 labor hours. HOW MUCH IS TOTAL OVERHEAD COSTS AT THIS LEVEL OF ACTIVITY?
Thank you very much.
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Solution Summary
Solution contains calculations of cash receipts and overhead costs.
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