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Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest payments) for the first three months of next year. January February March Cash Receipts $ 525,000 400,000 450,000 Cash payments $ 475,000 350,000 525,000 Kayak requires a minimum cash balance of $30,000 at each month-end. Loans taken to meet this requirement charge 1% interest per month, paid at each month-end. The interest is computed based on the beginning balance of the loan for the month. Any preliminary cash balance above $30,000 is used to repay loans at month-end. The company has a cash balance of $30,000 and a loan balance of $60,000 at January 1. Prepare monthly cash budgets for January, February, and March. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign.) Render CPA is preparing direct labor budgets for the current year. The partners budget billable hours for the year as follows. Data entry Auditing Tax Consulting 2,200 hours 4,800 hours 4,300 hours 750 hours The company budgets $15 per hour to data-entry clerks, $30 per hour to audit personnel, $40 per hour to tax personnel, and $50 per hour to consulting personnel. Prepare a direct labor budget for this service company for the year. MM Company budgets sales of $30,000 for May. MM's production manager discovered a way to use more sustainable packaging. As a result, MM's product will receive better placement on store shelves and May sales are predicted to increase by 8%. Compute budgeted sales for May assuming MM switches to this more sustainable packaging. Budgeted sales