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Relevant data from the Poster Company's operating budgets are: Quarter 1 Quarter 2 Sales $208,470 $211,539 Direct material purchases 115,300 120,832 Direct labor 75,210 73,300 25,200 25,300 Manufacturing overhead Selling and administrative expenses Depreciation included in selling and administrative 33,400 33,400 1,100 1,500 215,393 Collections from customers 240,155 Cash payments for purchases 114,295 119,253 Additional data: Capital assets were sold in January for $10,000 and $4,500 in May. Dividends of $4,600 were paid in February. The beginning cash balance was $60,359 and a required minimum cash balance is $58,000. Use this information to prepare a cash budget for the first two quarters of the year: If an amount box does not require an entry, leave it blank. The Poster Company Cash Budget For the First Two Quarters Quarter 1 Quarter 2 Beginning Cash Balance $ Add: Cash Receipts Collections from Customers Other Collections $ $ Total Receipts Total Available Cash Less: Cash Payments Purchase of Direct Material Direct Labor Manufacturing Overhead Selling and Administrative Expenses Cash Dividend $ $ Total Cash Payments Excess (Deficiency) of Available Cash Over Cash Disbursements $ Financing Add: Borrowings Less: Repayments Ending cash balance

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