Deitz Corporation is projecting a cash balance of $33,000 in its December 31, 2019, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2020 shows total collections of $203,500. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $47.300. Other information gathered for the first quarter of 2020 is sale of equipment $3,300; direct labor $77,000, manufacturing overhead $38,500, selling and administrative expenses $49,500; and purchase of securities $15.400. Deitz wants to maintain a balance of at least $27.500 cash at the end of each quarter. Prepare a cash budget for the first quarter. DEITZ CORPORATION Cash Budget

Deitz Corporation is projecting a cash balance of $33,000 in its December 31, 2019, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2020 shows total collections of $203,500. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $47.300. Other information gathered for the first quarter of 2020 is sale of equipment $3,300; direct labor $77,000, manufacturing overhead $38,500, selling and administrative expenses $49,500; and purchase of securities $15.400. Deitz wants to maintain a balance of at least $27.500 cash at the end of each quarter. Prepare a cash budget for the first quarter. DEITZ CORPORATION Cash Budget

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 11EB: Gear Up Co. pays 65% of its purchases in the month of purchase, 30% in the month after the purchase,...

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