11 D Te 2 2 ABC Co. is in the final stages of preparing its master budget for 2022. The following budgeted data has been provided for the company > Budgeted sales: January February March April Budgeted sales in units 9,000 10,500 11.00 10.0XXO Sales in dollars $108.00 $126.00 $132.000 $120.co 4 5 6 2 8 9 > Cash sales 20% Credit sales (sales on account) 80% > The collection pattern for the credit sales has traditionally been as follows: Month of sale First month following sale Second month following sale 10 35% 11 50X 12 15% 13 4 > Raw Material purchases January February March April Raw material purchases $72.000 595,000 $105,000 $88.000 Note: Raw material purchases are purchased on account, with 40% paid in the month of purchase and the balance owed paid the following month > Monthly operating expenses are budgeted as follows: Direct labour Variable overhead Fixed overhead (includes $1,000 or donciation Sales commissions (paid in the current month) Advertising $4,400 per month 110% of direct labour cost $8,300 5% of sales $11,700 > Other expenditures The company will purchase and pay for equipment in following months: February $25,000 A Sales commissions and in the months) Advertising of Sales $11,700 6 . > Other expenditures The company will purchase and pay for equipment in following months February $25,000 March $12.000 Cash dividends - $10,000 are paid in March, lune, September and December > Cash balance requirements and interest The company must maintain a minimum cash balance of $15,000 each month. Money is borrowed at the beginning of the month and repaid at month end. Interest is paid each month and the rate is 12% per year The cash balance on March 1 $17,500 Required: Calculate the total expected cash collections for the month of March (5 marks) 5.0 1 Symons Manufacturing Schedule of Expected Cash Collections For the Month ending March 31, 2022 Total expected cash collections for March Calculate budgeted cash expenditures for raw materials and the accounts payable balance on March 31. (2 marks) CUKETO SAVE WO WCH Total expected cash collections for March 2 Calculate budgeted cash expenditures for raw materials and the accounts payable balance on March 31. marts) 2.0 Total Cash Expenditures Accounts payable March 31 8.0 2 Prepare the Cash Budget for March 31. (8 marks) ABC Co. Cash Budget For the Month ending March 31, 2021 Beginning Cash Balance Total Cash available Less Cash disbursements P2 P3 P4 New CK HERE TO SAVE YOUR WORK A D 2 Prepare the Cash Budget for March 31. (8 marks) ABC CO Cash Budget For the Month ending March 31, 2021 Beginning Cash Balance Total Cash available Less Cash disbursements Total Cash disbursements Excess (deficiency) Financing Total Financing Ending Cash Balance