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  3. swifty corporation is projecting a cash balance of

Swifty Corporation is projecting a cash balance of $32,400 in its December 31,2021, balance sheet....

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Accounting

Swifty Corporation is projecting a cash balance of $32,400 in its December 31,2021, balance sheet. Swifty's schedule of expected collections from customers for the first quarter of 2022 shows total collections of $199,800. The schedule of expected payments for direct materials for the first quarter of 2022 shows total payments of $46,440. Other information gathered for the first quarter of 2022 is sale of equipment $3,240; direct labor $75,600, manufacturing overhead $37,800, selling and administrative expenses $48,600; and purchase of securities $15,120. Swifty wants to maintain a balance of at least $27,000 cash at the end of each quarter.
Prepare a cash budget for the first quarter.
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