#2. ABC Corporation has a cash balance of $30,000 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 $185,000. The schedule of expected payments for direct materials for the first quarter of 2017 shows total payments of $43,000. Other information gathered for the first quarter of 2017 is sale of equipment $3,000, direct labor $70,000, manufacturing overhead $35,000, selling and administrative expenses $45,000, and purchase of securities $14,000. ABC wants to maintain a balance of at least $25,000 cash at the end of March. Prepare a cash budget for the first quarter ABC CORPORATION Cash Budget For the Quarter Ended March 31, 2017 Beginning cash balance........ Add: Receipts Collections from customers. Sale of equipment Total receipts. Total available cash. Less: Disbursements. Direct materials Direct labor....... Manufacturing overhead