9:02 TEMU TEMU Assignment Overview Unit 3 Individual Project 5G UC. 48% Payments for raw materials and labor costs are paid the month after the purchase and are estimated as follows: March $220,000 April $240,000 May $225,000 June $287,000 July $350,000 August $415,000 September$242,000 October $214,000 November $222,000 Additional financial information is as follows: Administrative salaries will approximately amount to $30,000 a month. Lease payments are around $10,000 a month. A one-time new plant investment for $23,000 is expected to incur and be paid in June. Income tax payments estimated to be around $50,000 will be due in both June and September. Miscellaneous costs are estimated to be around $5,000 a month. Cash on hand on March 1 will be around $50,000, and a minimum cash balance of $50,000 shall be on hand at all times. To receive full credit on this assignment, please show all work, including formulas and calculations used to arrive at the financial values. Prepare a monthly cash budget for Middletown Construction, Inc. for the 12-month period of January through December. Use Excel to prepare the monthly cash budget with the use of this template. Based on your cash budget findings, answer the following questions in a 3-page analysis: Will the company need any outside financing? $ = Home Degree Connect Financial Aid More |||