globalessaywriters-essay-writing agency

The Red Midget Company processes and distributes beans.

The Red Midget Company processes and distributes beans. The beans are packed in 1-pound plastic bags and sold to grocery chains for $0.50 each in boxes of 100 bags. Sales in February were 14,000 boxes and the firm anticipates selling 16,000 boxes during March. Typically 80% of the firms customers pay within the month of sale, 18% pay the month after and 2% are never collected.

The firm buys beans from local farmers. The farmers are paid $0.20 per pound, cash. Most of the processing is done automatically. Consequently, most ($80,000) of the firms facotry overhead is depreciation expense.

Need Help Writing an Essay?

Tell us about your assignment and we will find the best writer for your paper.

Write My Essay For Me

The firm advertises heavily and will publish $75,000 worth of advertisements in popular magazines during March. This is up frm Ferbuary’s $60,000 for advertisements. The firm pays for 10% of its advertising in the month the advertisments are run and 90% the next month. Following are March’s budgeted Income Statement and Statement of Costs of Goods Manufactured and Sold. All costs and expenses are paid for an incurred unless specifically indicated otherwise above. The firm will begin March with a cash balance of $25,000 and pays a monthly dividend of $15,000 to the owners.

Budgeted Income Statement

Sales $800,000

Cost of Goods Sold $540,000

Gross Margin $260,000

Administrative Salaries $80,000

Sales Commissions $69,000

Advertising $75,000

Bad debt Expense $16,000

Operating Income $20,000

Budgeted Statement of Cost of Goods Manufactured and Sold

Beginning balance direct materials $20,000

Direct materials purchased $330,000

Materials Available for use $350,000

Ending Balance direct Materials $30,000

Direct materials used $320,000

Labor costs incurred $90,000

Overhead costs $115,000

Cost of goods manufactured $525,000

Beginning finished goods balance $45,000

Goods available for sale $570,000

Ending finished goods balance $30,000

Cost of goods sold $540,000

From the information provided, prepare a cash receipt and disbursements budget for March.

Welcome to one of the most trusted essay writing services with track record among students. We specialize in connecting students in need of high-quality essay writing help with skilled writers who can deliver just that. Explore the ratings of our essay writers and choose the one that best aligns with your requirements. When you rely on our online essay writing service, rest assured that you will receive a top-notch, plagiarism-free A-level paper. Our experienced professionals write each paper from scratch, carefully following your instructions. Request a paper from us and experience 100% originality.

From stress to success – hire a pro essay writer!