True.
This is because managers are responsible for the overall performance of a branch and its personnel. Managers have people under their supervision and any problem that may arise in the course of a business day, they have to deal and solve in as little amount of time as possible.
Answer:
Deitz Corporation
Cash Budget
For the Quarter ended March 31, 2020:
Beginning balance $33,300
Cash Collections From Customers 205,350
Sale of Equipment 3,330
Total available cash $241,980
Cash Payments:
Direct materials $47,730
Direct labor 77,700
Manufacturing overhead 38,850
Selling & Administrative 49,950
Purchase of Securities 15,540 $(229,770)
Ending Balance $12,210
Minimum Balance 27,750
Shortfall $15,540
Explanation:
Deitz Corporation uses this Cash Budget which it has prepared to understand its financial needs for the next quarter. For example, with the minimum balance of $27,750 most likely based on past experience the corporation will start making arrangements for some outside funds to the tune of $15,540 or more to meet its cash needs for the first quarter.
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