Answer:
Cash= $183,950
Explanation:
Giving the following information:
Baylor Company began its operations on March 31 of the current year. Projected manufacturing costs for the first three months of business are $156,800, $198,200, and $217,600, respectively, for April, May, and June. Depreciation, insurance, and property taxes represent $28,800 of the estimated monthly manufacturing costs. Insurance was paid on March 31, and property taxes will be paid in November. Three-fourths of the remainder of the manufacturing costs are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month.
May:
Manufacturing cost= 198,200 - 28,800= $169,400
Cost for June= 169,400*0.25= 42,350
June:
Manufacturing cost= 217,600 - 28,800= $188,800
Cost from May= 42,350
Cost for July= 188,800*0.25= -47,200
Cash= $183,950
