+
ACCT 221 WEEK 9 HOMEWORK

ACCT 221 WEEK 9 HOMEWORK

Rating:
Rating
(0)
Author: Carol 96
Description:

Click link for more description

http://theperfecthomework.com/acct-301-week-7-homework/

Logan Township acquired its water system from a private company on June 1.  No receivables were acquired with the purchase.  Therefore, total accounts receivable on June 1 had a zero balance.Logan plans to bill customers in the month following the month of sale, and 70% of the resulting billings will be collected during the billing month.  In the next following month, 90% of the remaining balance should be collectable.  The remaining uncollectible amounts will relate to citizens who have moved away.  Such amounts are never expected to be collected and will be written off.Water sales during June are estimated at $4,000,000, and expected to increase 30% in July.  August sales will be 10% less than July sales.  
 
 
(a)
For each dollar of sales, how much is expected to be collected?
 
 
 
(b)
Estimate the monthly cash collections for June, July, August, and September.
 
 
 
(c)
As of the end of August, how much will be the estimated amount of receivables from which future cash flows are anticipated?
 
 
 
 
 
 
 
 
Scalia Systems manufactures rugged handheld computers for use in adverse working environments.  Scalia tries to maintain inventory at 40% of the following month's expected unit sales.  Scalia began the year with 8,000 units in stock, based on the following unit sales projections prepared by the sales manager:
 
 
 
January
20 000
 
 
 
 
February
25 000
 
 
 
 
March
25 000
 
 
 
 
April
22 000
 
 
 
Prepare a schedule of planned unit production for January through March.
 
 
 
 
 
 
 
 
Prepare a direct materials purchasing plan for January, February, and March, based on the following facts:Lana Gonzales owns a business that assembles ceiling fan units.  Each fan requires one motor system and four blades.  Motors cost $40 each, and blades are $3.50 each.  Lana is able to reliably obtain motors as needed, and does not maintain them in inventory.  However, blades are stocked in inventory sufficient to produce 30% of the following month's expected production.  Planned production is as follows:
 
 
 
January
10 000
 
 
 
 
February
12 000
 
 
 
 
March
15 000
 
 
 
 
April
11 000
 
 

 
 
 
 
 
 
 


(more)
See More
Try a College Course Free

Sophia’s self-paced online courses are a great way to save time and money as you earn credits eligible for transfer to over 2,000 colleges and universities.*

Begin Free Trial
No credit card required

25 Sophia partners guarantee credit transfer.

221 Institutions have accepted or given pre-approval for credit transfer.

* The American Council on Education's College Credit Recommendation Service (ACE Credit®) has evaluated and recommended college credit for 20 of Sophia’s online courses. More than 2,000 colleges and universities consider ACE CREDIT recommendations in determining the applicability to their course and degree programs.

Tutorial