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Business, 18.03.2020 04:16 alexcuevaz90

Tilson Corporation has projected sales and production in units for the second quarter of the coming year as follows: April 66,000 76,000 May 56,000 66,000 June Sales 76,000 66,000 Production Cash-related production costs are budgeted at $8 per unit produced. Of these production costs, 40 % are paid in the month in which they are incurred and the balance in the following month. Selling and administrative expenses will amount to $80,000 per month. The accounts payable balance on March 31 totals $185,000, which will be paid in April. All units are sold on account for $20 each. Cash collections from sales are budgeted at 50% in the month of sale, 35% in the month following the month of sale, and the remaining 15% in the second month following the month of sale. Accounts receivable on April 1 totaled $641,000 ($111,000 from February's sales and $530,000 from March's sales). Required: a. Prepare a schedule for each month showing budgeted cash disbursements for Tilson Corporation. b. Prepare a schedule for each month showing budgeted cash receipts for Tilson Corporation.

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