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Oksana_A [137]
4 years ago
6

Deitz Corporation is projecting a cash balance of $33,300 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 $205,350. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $47,730. Other information gathered for the first quarter of 2020 is sale of equipment $3,330; direct labor $77,700, manufacturing overhead $38,850, selling and administrative expenses $49,950; and purchase of securities $15,540. Deitz wants to maintain a balance of at least $27,750 cash at the end of each quarter. Prepare a cash budget for the first quarter.
Business
1 answer:
Kisachek [45]4 years ago
7 0

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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The United States leads the ranking of countries with the highest military spending in 2021 with US$801 billion. This accounted for 38% of total global military spending that year, totaling $2.1 trillion.

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Alex73 [517]

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Which of the following refers to a set of rights to control a tangible or intangible thing?
Lyrx [107]

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Answer:

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Explanation:

Giving the following information:

Williamsburg Nursing Home is investing in a restricted fund for a new assisted-living home that will cost $6 million.

n= 15 years

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We need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

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dimaraw [331]

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