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Nadia Company expects to have a cash balance of $45,100 on January 1,...

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Accounting

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Nadia Company expects to have a cash balance of $45,100 on January 1, 2020. Nadia has budgeted the following for the first two months of the year 2020 Collections from customers: January $90,500; February $109,800. 1. Payments to suppliers: January $40,100; February $50,500. 2. Direct labour: January $29,800; February $34,900. Wages are paid in the month they are incurred 3. 4 Manufacturing overhead: January $24,900; February $30,100. Overhead costs are paid as incurred. Selling and administrative expenses: January $15,800; February $22,20o. These costs do not include depreciation and they are paid as incurred. 5. Sales of investments in January are expected to realize $10,000 in cash. Nadia Company wants to keep a minimum monthly cash balance of $20,000. 6

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