Deitz Corporation is projecting a cash balance of $33,900 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 $209,050. The schedule of expected payments
for direct materials for the first quarter of 2020 shows total
payments of $48,590. Other information gathered for the first
quarter of 2020 is sale of equipment $3,390; direct labor $79,100,
manufacturing overhead $39,550, selling and administrative expenses
$50,850; and purchase of securities $15,820. Deitz wants to
maintain a balance of at least $28,250 cash at the end of each
quarter.
Prepare a cash budget for the first quarter.
DEITZ CORPORATION |
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Selling and Administrative ExpensesPurchase of SecuritiesBeginning Cash BalanceDirect LaborSale of EquipmentRepaymentsBorrowingsTotal ReceiptsCollections from CustomersDirect MaterialsReceiptsTotal DisbursementsManufacturing OverheadExcess of Available Cash Over Cash DisbursementsFinancingDisbursementsTotal Available CashEnding Cash Balance |
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AddLess: Excess of Available Cash Over Cash DisbursementsManufacturing OverheadTotal Available CashFinancingDisbursementsPurchase of SecuritiesTotal ReceiptsRepaymentsBeginning Cash BalanceSale of EquipmentBorrowingsReceiptsDirect MaterialsDirect LaborCollections from CustomersEnding Cash BalanceSelling and Administrative ExpensesTotal Disbursements |
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Excess of Available Cash Over Cash DisbursementsTotal Available CashPurchase of SecuritiesDirect LaborReceiptsEnding Cash BalanceBorrowingsDirect MaterialsBeginning Cash BalanceDisbursementsTotal DisbursementsFinancingSelling and Administrative ExpensesSale of EquipmentCollections from CustomersTotal ReceiptsManufacturing OverheadRepayments |
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Total DisbursementsEnding Cash BalanceSale of EquipmentPurchase of SecuritiesSelling and Administrative ExpensesDirect MaterialsCollections from CustomersFinancingExcess of Available Cash Over Cash DisbursementsTotal Available CashRepaymentsDisbursementsBeginning Cash BalanceTotal ReceiptsBorrowingsReceiptsDirect LaborManufacturing Overhead |
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Purchase of SecuritiesBorrowingsDirect LaborBeginning Cash BalanceTotal Available CashSale of EquipmentTotal ReceiptsDisbursementsCollections from CustomersDirect MaterialsFinancingEnding Cash BalanceTotal DisbursementsSelling and Administrative ExpensesRepaymentsExcess of Available Cash Over Cash DisbursementsManufacturing OverheadReceipts |
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BorrowingsSelling and Administrative ExpensesSale of EquipmentRepaymentsEnding Cash BalanceFinancingExcess of Available Cash Over Cash DisbursementsTotal DisbursementsTotal Available CashBeginning Cash BalancePurchase of SecuritiesDirect MaterialsReceiptsDisbursementsCollections from CustomersDirect LaborManufacturing OverheadTotal Receipts |
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AddLess: Direct MaterialsTotal ReceiptsTotal Available CashReceiptsDirect LaborFinancingBeginning Cash BalanceSale of EquipmentExcess of Available Cash Over Cash DisbursementsRepaymentsBorrowingsTotal DisbursementsSelling and Administrative ExpensesCollections from CustomersPurchase of SecuritiesDisbursementsManufacturing OverheadEnding Cash Balance |
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Ending Cash BalanceFinancingManufacturing OverheadRepaymentsCollections from CustomersDisbursementsPurchase of SecuritiesExcess of Available Cash Over Cash DisbursementsReceiptsBorrowingsSale of EquipmentTotal DisbursementsDirect LaborBeginning Cash BalanceDirect MaterialsTotal Available CashSelling and Administrative ExpensesTotal Receipts |
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Ending Cash BalanceSelling and Administrative ExpensesReceiptsTotal DisbursementsManufacturing OverheadPurchase of SecuritiesDirect MaterialsDisbursementsCollections from CustomersTotal Available CashRepaymentsBeginning Cash BalanceBorrowingsExcess of Available Cash Over Cash DisbursementsFinancingDirect LaborTotal ReceiptsSale of Equipment |
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RepaymentsCollections from CustomersBeginning Cash BalanceReceiptsTotal DisbursementsSale of EquipmentBorrowingsManufacturing OverheadPurchase of SecuritiesDirect MaterialsTotal ReceiptsTotal Available CashExcess of Available Cash Over Cash DisbursementsSelling and Administrative ExpensesDirect LaborDisbursementsFinancingEnding Cash Balance |
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Ending Cash BalanceRepaymentsPurchase of SecuritiesReceiptsManufacturing OverheadTotal DisbursementsExcess of Available Cash Over Cash DisbursementsDisbursementsTotal ReceiptsSelling and Administrative ExpensesSale of EquipmentBorrowingsCollections from CustomersDirect MaterialsDirect LaborTotal Available CashFinancingBeginning Cash Balance |
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Manufacturing OverheadDirect MaterialsSale of EquipmentBorrowingsPurchase of SecuritiesCollections from CustomersReceiptsDisbursementsDirect LaborFinancingTotal Available CashRepaymentsExcess of Available Cash Over Cash DisbursementsEnding Cash BalanceTotal DisbursementsSelling and Administrative ExpensesTotal ReceiptsBeginning Cash Balance |
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Total DisbursementsRepaymentsDisbursementsExcess of Available Cash Over Cash DisbursementsDirect LaborReceiptsBorrowingsTotal Available CashSale of EquipmentBeginning Cash BalanceManufacturing OverheadEnding Cash BalancePurchase of SecuritiesFinancingCollections from CustomersSelling and Administrative ExpensesDirect MaterialsTotal Receipts |
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Excess of Available Cash Over Cash DisbursementsBorrowingsSelling and Administrative ExpensesPurchase of SecuritiesManufacturing OverheadCollections from CustomersReceiptsTotal Available CashTotal ReceiptsDisbursementsSale of EquipmentRepaymentsTotal DisbursementsDirect LaborEnding Cash BalanceBeginning Cash BalanceDirect MaterialsFinancing |
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Direct MaterialsDirect LaborSale of EquipmentCollections from CustomersDisbursementsBorrowingsReceiptsEnding Cash BalanceTotal DisbursementsFinancingExcess of Available Cash Over Cash DisbursementsSelling and Administrative ExpensesRepaymentsBeginning Cash BalanceTotal Available CashTotal ReceiptsManufacturing OverheadPurchase of Securities |
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