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. Required: 1. Prepare a cash budget (in excel) . i need it as soon as possible

Sprinkler Corporation produces plastic garden sprinklers. The company is preparing its budget for 2015. The first step is to plan for the first quarter of that coming year. Sprinkler has collected the following information from the managers. 1. Sales: 112,500 units Sales for November 2014 102,100 units Sales for December 2014 113,000 units Expected sales for January 2015 Expected sales for February 2015 Expected sales for March 2015 Expected sales for April 2015 Expected sales for May 2015 112,500 units 116,000 units 125,000 units 137,500 units $12 Selling price per unit Sprinkler likes to keep 10 % of next month's unit sales in ending inventory. All sales are on credit. 85% of the accounts receivable are collected in the month of sale and 15 % of the accounts receivable are collected in the month after sale. Accounts receivable on December 31, 2014, totaled $183,780. Direct Materials: 2. 2 pounds of direct materials is needed to produce one unit. Sprinkler likes to keep 5 % of the materials needed for the next month's production in its ending inventory. Raw materials on hand on December 31, 2014, totaled 11,295 pounds. Direct materials cost is $1.1 per pound. Payment for materials is made within 15 days. 50% is paid in the month of purchase, and 50% is paid after the month of purchase. Accounts payable on December 31, 2014, totaled $120,595 3. Direct Labor Labor requires 12 minutes per unit for completion and is paid at a rate of $8 per hour. Manufacturing Overhead 4. Indirect materials $0.30 per labor hour Indirect labor $0.50 per labor hour $0.45 per labor hour Utilities $0.25 per labor hour $42,000 per month Maintenance Factory supervisor's salary $16,800 per month Factory Depreciation $2,675 per month Property taxes $1,200 per month Insurance $1,300 per month Repairs Selling and Administrative expenses 5. $72,000 per month $15,000 per month Salaries Advertising $1,400 per month Insurance $2,500 per month Office Depreciation $3,000 per month Other fixed costs Other Information The cash balance on December 31, 2014, totaled $100,500, but management has decided it would like to maintain a cash balance of at least $800,000 beginning on January 31, 2015 Dividends are paid each month @ $2.50 per share for 5,000 shares. The company has an open line of credit with national Bank. The terms of the agreement require borrowing to be in the increments of $1,000, and the interest rate is 8%. Sprinkler borrows on the first day of the month and repays on the last day of the month if possible. A $500,000 equipment purchase is planned for February 2015

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