Fill in the missing values: **If a cell has a value of 0, type the 0. A blank cell will be marked as incorrect.
Fill in the missing values: **If a cell has a value of 0, type the 0. A blank cell will be marked as incorrect.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter4: Internal Control And Cash
Section: Chapter Questions
Problem 66.2C
Related questions
Question
Brindle Arts had the following Cash Budget for Quarter 1, 2022. | ||||
The company requires a minimum cash balance of | $ 50,000 | |||
Fill in the missing values: | **If a cell has a value of 0, type the 0. A blank cell will be marked as incorrect. | |||
January | February | March | Quarter 1 | |
Beginning Cash balance | $ 50,000 | $ 166,756 | $ 50,000 | |
Add cash collections | ||||
Total cash available | $ 662,638 | $ 673,643 | $ 812,693 | $ 1,931,075 |
Less total cash disbursements: | ||||
Purchases | $ 185,078 | $ 189,439 | ||
Direct labor | $ 86,875 | $ 82,875 | $ 249,750 | |
Variable manufacturing OH | $ 65,156 | $ 62,156 | $ 187,313 | |
Fixed manufacturing OH | $ 83,333 | $ 83,333 | ||
Variable S&A | $ 38,750 | $ 43,750 | $ 125,000 | |
Fixed S&A | $ 38,333 | $ 38,333 | ||
Equipment | $ 150,000 | $ 175,000 | ||
Total cash disbursements | $ 506,887 | $ 1,869,498 | ||
Cash available before financing | $ 27,143 | $ 166,756 | $ 85,577 | $ 61,577 |
Financing: | ||||
Borrowings (at beginnings of quarters) | $ 24,000 | $ - | $ 24,000 | |
Repayments | $ - | $ - | $ 24,000 | |
Interest | ||||
Total Financing | $ (25,080) | |||
Ending Cash balance | $ 51,143 | $ 60,497 | $ 60,497 |
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