I need help with the Cash Budget please Maintains a 16% open line of...
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I need help with the Cash Budget please
Maintains a 16% open line of credit for $75,000
Maintains a minimum cash balance of $20,000
Borrows on the first day of the month and repays loans on the last day of the month
Will pay a $10,000 cash dividend in July
Will purchase $1437,000 of equipment in August and $26,600 in September
July 1 cash balance is $40,000
Cash Collections are:
July $170,000
August $400,000
September $335,000
| Cash Disbursements: | |||
| July | August | September | |
| Materials | 18,000 | 19,500 | 17,700 |
| Direct Labor | 8,000 | 9,200 | 8,500 |
| MOH | 24,000 | 27,000 | 25,000 |
| Selling and Admin | 18,000 | 19,300 | 18,850 |
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