ACCT 346 Week 6 Complete Homework and DQs – Recently Taken

| October 3, 2018

ACCT 346 Managerial Accounting – DeVryRecently TakenACCT 346 Week 6 Homework AssignmentYour assignment this week is to answer the two questions below.1. Cave Hardware’s forecasted sales for April, May, June, and July are $200,000, $230,000, $190,000, and $240,000, respectively. Sales are 65% cash and 35% credit with all accounts receivables collected in the month following the sale. Cost of goods sold is 75% of sales and ending inventory is maintained at $60,000 plus 10% of the following month’s cost of goods sold. All inventory purchases are paid 22% in the month of purchase and 78% in the following month.What are the cash collections budgeted for June?2. Madden Corporation manufactures t-shirts, which is its only product. The standards for t-shirts are as follows:2a. What is the direct labor rate variance for the month? Is it favorable or unfavorable?2b. What is the direct labor efficiency variance for the month? Is it favorable or unfavorable?ACCT 346 Week 6 DQ 1 BudgetingACCT 346 Week 6 DQ 2 Standard Costs and Variance Analysis

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