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larisa86 [58]
3 years ago
13

Deitz Corporation is projecting a cash balance of $30,600 in its December 31, 2019, balance sheet. Deitz’s schedule of expected

collections from customers for the first quarter of 2020 shows total collections of $188,700. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $43,860. Other information gathered for the first quarter of 2020 is sale of equipment $3,060; direct labor $71,400, manufacturing overhead $35,700, selling and administrative expenses $45,900; and purchase of securities $14,280. Deitz wants to maintain a balance of at least $25,500 cash at the end of each quarter.
Required:

Prepare a cash budget for the first quarter.
Business
1 answer:
BabaBlast [244]3 years ago
4 0

Answer:

<u>Cash Budget for the First Quarter.</u>

Total Receipts :

Collections From Customers                          $188,700

Sale of Equipment                                              $3,060

                                                                          $191,760

Total Payments :

Direct materials                                                $43,860

Direct labor                                                        $71,400

Manufacturing overhead                                 $35,700

Selling and administrative expenses             $45,900

Purchase of securities                                      $14,280

                                                                        $210,840

Net Receipts / (Payments)                              ($19,080)

Opening Balance                                            $30,600

Closing Balance                                                $11,520

Required Balance                                            $25,500

Loan (Shortfall)                                                  $14,250

Explanation:

A cash budget shows a future estimate of future cash incomes and cash expenditures.

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Answer:

665

Explanation:

The computation fo the demand expected for the third quarter is as follows:

Oct         230

Nov        255

Dec         280          sum 765

Jan          155

Feb          155

March      205         sum 515

April         220

May          245

June         250       sum 715

Mow the third quarter moving average is

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Please refer to the attached file

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