Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. oriole company expects to have a cash balance of $

Oriole Company expects to have a cash balance of $45,300 on January 1, 2022. Oriole...

80.2K

Verified Solution

Question

Accounting

Oriole Company expects to have a cash balance of $45,300 on January 1, 2022. Oriole has budgeted the following for the first two months of the year 2022: 1. Collections from customers: January $90,900; February $109,600.

2. Payments to suppliers: January $40,000; February $49,800.

3. Direct labour: January $30,300; February $35,200. Wages are paid in the month they are incurred.

4. 5. Manufacturing overhead: January $25,200; February $30,300. Overhead costs are paid as incurred. Selling and administrative expenses: January $15,800; February $22,100. These costs do not include depreciation and they are paid as incurred. 6. Sales of investments in January are expected to realize $10,100 in cash. Oriole Company wants to keep a minimum monthly cash balance of $20,000. Ignore any interest on amounts borrowed. Prepare a cash budget for January and February. Chatg ORIOLE COMPANY Cash Budget For 2022 January February

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

Consider a farm planted with corn being infested with caterpillars. During the first pesticide application out...

Psychology
1.2K views

Provide an example of how each of the five approaches to a conflict (avoiding, surrendering, persuading,...

General Management
1.2K views

How has Southwest built its resources to meets its generic strategy, competitive forces and add value...

Physics
1.2K views

A rectangular coil ABCD is rotated in uniform magnetic field with constant angular velocity about...

Geometry
1.2K views

23 Cameron deposits 120 000 in a bank account that earns 0 5 interest compounded...

Algebra
1.2K views

The 11th and 12th Fibonacci numbers are 89 and 144 What is the 13th Fibonacci...

Accounting
1.2K views

Q2 How is relevant quantitative and qualitative information used in special order decisions? Explain and...

Accounting
1.2K views

Prepare journal entries for a local government to record the following transactions, first for fund...

Accounting
1.2K views

Equipment acquired on January 8 at a cost of $113,950 has an estimated useful life...

Accounting
1.2K views

Direct Materials Used, Cost of Goods Manufactured In March, Chilton Company purchased materials costing...

Accounting
1.2K views

The following trial balance relates to Clarion as at 31 March 2015: $000 $000 Equity...

Finance
1.2K views

Consider the two (excess return) index-model regression results for stocks A and B. The risk-free...