WileyPLUS ? https://edugen.wil ? Q. Search n.uni WileyPLUS HE Weygandt, Accounti

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WileyPLUS ? https://edugen.wil ? Q. Search n.uni WileyPLUS HE Weygandt, Accounting Principles, 12e PRINTER VERSIONBACK NEXT ASSIGNMENT RESOURCES Deitz Corporation is projecting a cash balance of $38,640 in its December 31, 2016, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2017 shows total collections of $238,280. The schedule of expected payments for direct materials for the first quarter of 2017 shows total payments of $55,384. Other information gathered for the first quarter of 2017 is sale of equipment $3,864; direct labor $90,160, manufacturing overhead $45,080, selling and administrative expenses $57,960; and purchase of securities $18,032. Deitz wants to maintain a balance of at least $32,200 cash at the end of each quarter ACC122 ?uestion- Prepare a cash budget for the first quarter. (Do not leave any answer field blank. Enter 0 for amounts.) DEITZ CORPORATION Cash Budget O Type here to search 2:52 PM 4/27/2018

Explanation / Answer

DEITZ CORPORATION Cash Budget For the First Quarter 2017 Beginning cash balance 38640 Add: Cash receipts Collections from customers 238280 Sale of equipment 3864 Total cash receipts 242144 Total cash available 280784 Less: Cash disbursements For direct materials 55384 For direct labor 90160 For manufacturing overhead 45080 For selling and administrative expenses 57960 For purchase of securities 18032 Total cash disbursements 266616 Excess (deficiency) of cash available over disbursements 14168 Financing: Add: Borrowings 18032 Less: Repayments 0 Ending cash balance 32200

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