ALL INFORMATION NEEDED GIVEN IN SCREENSHOT BELOW

QUESTION: For the second quarter of 2017, prepare a cash budget. (Round answers to 0 decimal places, e.g. 2,575.)

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Waterways Continuing Problem-10 (Part Level Submission) Waterways Corporation has recently acquired a small manufacturing operation in British Columbia that produces one of its more popular items. This plant will provide these units for resale in retail hardware stores in British Columbia and Alberta. Because the budget prepared by the plant was incomplete, Jordan Leigh, Waterways' CFO, was sent to B.C. to oversee the plant's budgeting process for the second quarter of 2017 Jordan asked the various managers to collect the following information for preparing the second-quarter budget. Sales Unit sales for February 2017 Unit sales for March 2017 Expected unit sales for April 2017 118,000 Expected unit sales for May 2017 123,000 Expected unit sales for June 2017 128,000 Expected unit sales for July 2017143,000 Expected unit sales for August 2017 168,000 Average unit selling price 98,000 110,000 $13 Based on the experience from the home plant, Jordan has suggested that the B. plant keep 10% of the next month's unit sales in ending inventory. The plant has contracts with some of the major home hardware giants, so all sales are on account; 50% of the accounts receivable is collected in the month of sale, and the balance is collected in the month after sale. This was the same collection pattern from the previous year. The new plant has no bad debts Direct Materials The combined quantity of direct materials consisting of metal plastic and rubber used in each unit is 1.40 kg. Metal plastic and rubber together amount to?1.50 per kg. Inventory of combined direct material on March 31 consisted of 16,590 kg. This plant likes to keep 10% of the materials needed for the next month in its ending inventory. Fifty percent of the payables is paid in the month of purchase, and 50% is paid in the month after purchase. Accounts Payable on March 31 will total $129,000 Direct Labour Labour requires 15 minutes per unit for completion and is paid at an average rate of $10 per hour Manufacturing Overhead Indirect materials $0.00 per labour hour Indirect labour Utilities $0.60 per labour hour $0.60 per labour hour $0.40 per labour hour Salaries Depreciation Property taxes Insurance Janitorial $45,000 per month 15,000 per month $2,250 per month $1,450 per month $2,500 per month Selling and Administrative Variable selling and administrative cost per unit is $1.50. $16,000 a month $2,300 a month $1,100 a month $3,900 a month $63,000 a month Depreciation Insurance Other fixed costs Salaries Other Information The Cash balance on March 31 will be $125,500, but waterways has decided it would like to maintain a cash balance of at least $600,000 beginning on April 30, The company has an open line of credit with its bank. The terms ofthe agreement require borrowing to be in $1,000 increments at 3% interest. Borrowing is considered to be on the first day of the month and repayments are on the last day of the month. Assume interest is paid at the end of the quarter in May, $800,000 of new equipment to update operations will be purchased. Three months' insurance is prepaid on the first day of the first month of the quarter