9 of 13 < > View Policies - / 0.75 III Current Attempt in Progress Deitz Corporation is projecting a cash balance of $37,200 in its December 31, 2019, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2020 shows total collections of $229,400. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $53,320. Other information gathered for the first quarter of 2020 is sale of equipment $3,720; direct labor $86,800, manufacturing overhead $43,400, selling and administrative expenses $55,800; and purchase of securities $17,360. Deitz wants to maintain a balance of at least $31,000 cash at the end of each quarter. Prepare a cash budget for the first quarter. DEITZ CORPORATION Cash Budget $ Question 9 of 13 < > > - / 0.75 !!! $