0 Reference - X Assume the following data for Pet Transport Company: (Click the icon to view the assumptions.) (Click the icon to view budget information.) Requirements 1. Prepare a cash budget for April for Pet Transport. 2. Why do Pet Transport's managers prepare a cash budget in addition to the revenue, expenses, and operating income budget? Rectangular Snip Requirement 1. Prepare a cash budget for April for Pet Transport. Begin the cash budget by calculating the cash available, then total disbursements, and finally the effects of financing and the ending cash balance. (Round your answers to the nearest whole dollar Revenue Budget For the Month of April Units Selling price Total Revenues 580 S 190 S 110.200 215 260 55,900 $ 166,100 Cat-allac Cash Budget April 30 Dog-eriffic * More Info - Total Cash balance, beginning Add receipts Total cash available for needs Deduct disbursements Pet Transport (PT) does not make any sales on credit. PT sells only to the public and accepts cash and credit cards: 90% of its sales are to customers using credit cards, for which PT gets the cash right away, less a 2% transaction fee. Purchases of materials are on account. PT pays for half the purchases in the period of the purchase and the other half in the following period. At the end of March, PT owes suppliers $8,100. During April they plan to purchase direct materials worth $13,365. PT plans to replace a machine in April at a net cash cost of $13,900. Labor, other manufacturing costs, and nonmanufacturing costs are paid in cash in the month incurred except of course depreciation, which is not a cash flow. Depreciation is $23,000 of the manufacturing cost and $14,500 of the nonmanufacturing (fixed) cost for April. PT currently has a $2,200 loan at an annual interest rate of 24%. The interest is paid at the end of each month. If PT has more than $10,000 cash at the end of April it will pay back the loan. PT owes $5,300 in income taxes that need to be remitted in April. PT has cash of $5,900 on hand at the end of March. Manufacturing Overhead Budget For the Month of April Machine setup costs S 9,100 Processing costs 58,000 Inspection costs 480 Total $ 67,580 Direct Manufacturing Labor Costs Budget For the Month of April Output units DMLH Total Hourly produced per unit Hours Wage Rate Total 600 3 1,800 $ 14 $ 25,200 5 14 14,000 $ 39,200 Cat-allac Print Done 200 1,000 Dog-eriffic Total Total disbursements Cash excess (deficiency) Financing Repayment of loan Interest on loan Total effects of financing Ending cash balance, April 30 Nonmanufacturing Costs Budget For the Month of April Salaries $ 18,800 Other fixed costs 16,000 1,661 Sales commissions Total nonmanufacturing costs $ 36,461 Print Done