89 Brick Bros. is preparing their cash budget for 2020. They have already estimated their cash receipts and cash payments for each 0 quarter of the year. Their quarterly receipts and payments in dollars are shown below. 2 3 Total Cash Receipts 14 Total Cash Payments 21 100,000 120,000 22 150,000 160,000 23 320,000 250,000 24 300,000) 240,000 6 27 Brick Bros. currently has $20,000 in their bank. They never want to have less than $15,000 in the bank each quarter. If they have 8 less than $15,000 they will borrow against a line of credit to ensure they always have the minimum cash required. If they have 9 more than the minimum, they will pay off any outstanding loans. 1 Prepare the cash budget based on the information given. Points will be assigned for maximum and proper use of Excel formulas. Brick Bros. Cash Budget For the Year Ending December 31, 2020 Q1 Q2 Q3 Q4 "O Clothings.com manufactures three standard types of clothing: t-shirts, jeans, and socks. Data on the price and costs for the units 1 are shown below. 4 Price 5 Direct Materials *6 Direct Labor 7 Manufacturing Overhead T-shirts $15.00 $3.00 $2.50 $3.50 Jeans $35.00 $12.50 $7.00 $5.50 Socks $5.00 $1.50 $0.25 $1.00 0 It is calculated that manufacturing overhead is allocated to the three products using a rate of $2 per machine hour. It is revealed 1 that there are 150 extra machine hours to allocate to produce another product. 3 a) Calculate the machine hours used per item. T-shirts Jeans L Socks O b) Calculate each item's relevant contribution margin per machine hour. T-shirts Jeans Socks 01 c) Which item should the company produce