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Use the following information to prepare the September cash budget for PTO Manufacturing Co. The following information relates to expected cash receipts and cash payments for the month ended September 30.

1. Beginning cash balance, September 1, $41,000.
2. Budgeted cash receipts from sales in September, $264,000.
3. Raw materials are purchased on account. Purchase amounts are: August (actual), $77,000, and September (budgeted), $108,000. Payments for direct materials are made as follows: 65% in the month of purchase and 35% in the month following purchase.
4. Budgeted cash payments for direct labor in September, $34,000.
5. Budgeted depreciation expense for September, $4,000.
6. Other cash expenses budgeted for September, $60,000.
7. Accrued income taxes payable in September, $10,500.
8. Bank loan interest payable in September, $1,800

PTO MANUFACTURING COMPANY Cash Budget For Month Ended September 30 Beginning cash balance $41,000selected answer correct Cash receipts from sales 264,000selected answer correct Total cash available $305,000 Cash payments for: Direct materials 91,800selected answer incorrect Direct labor 31,000selected answer incorrect Other expenses 56,000selected answer incorrect Accrued taxes 10,700selected answer incorrect Interest on bank loan 1,700selected answer incorrect Total cash payments 191,200 Ending cash balance $113,800

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