Topper, Inc. prepared the following cash budget for the  fourth quarter.

Required

Fill in the missing amounts, assuming that Topper desires to maintain a $15,000 minimum monthly cash  balance. Any required borrowings and repayments must be made in even increments of $1,000.

Transcribed Image Text:

October November December Quarter Beginning Cash balance $15,500 ? $ 16,500 Collections from sales 55,000 ? ? 238,600 Total cash available 71,500 96,000 120,000 ? Less disbursements Materials purchases Direct labor ? 10,000 14,000 36,000 5,000 6,000 8,000 19,000 Manufacturing overhead Selling & administrative expenses Equipment purchase 20,000 23,000 22,000 ? 29,000 30,000 ? ? ? 15,000 Dividends 5,000 5,000 Total disbursements 66,000 ? ? ? Excess (deficiency) of cash 27,000 ? ? Minimum cash balance 15,000 15,000 15,000 ? Cash available (needed) (9,500) ? 9,000 ? Financing: Borrowings Repayments ? 10,000 (10,000) (100) (100) (10,100) Interest Total financing Ending Cash balance ? (100) $15,500 $16,900 ? ?