Assume the following data for Pet Luggage Company: i (Click the icon to view the assumptions.) Requirements 1. 2. Prepare a cash budget for April for Pet Luggage. (Click the icon to view budget information.) Why do Pet Luggage's managers prepare a cash budget in addition to the revenue, expenses, and operating income budget? ..... Requirement 1. Prepare a cash budget for April for Pet Luggage. Begin the cash budget by calculating the cash available, then total disbursements, and finally the effects of financing and the ending cash balance. (Round your answers to the nearest whole dollar. Enter "0" for repa Cash Budget Cash balance, beginning Add receipts Cash sales April 30 5,100 More Info 16,610 143,510 Credit card sales 165,220 Total cash available for needs Deduct disbursements Direct materials Direct manufacturing labor Manufacturing overhead Nonmanufacturing salaries Sales commissions Other nonmanufacturing fixed costs Machinery purchase Income taxes Total disbursements Pet Luggage (PL) does not make any sales on credit. PL sells only to the public and accepts cash and credit cards; 90% of its sales are to customers using credit cards, for which PL gets the cash right away, less a 4% transaction fee. Purchases of materials are on account. PL pays for half the purchases in the period of the purchase and the other half in the following period. At the end of March, PL owes suppliers $8,000. During April they plan to purchase direct materials worth $13,390. PL plans to replace a machine in April at a net cash cost of $13,900. Labor, other manufacturing costs, and nonmanufacturing costs are paid in cash in the month incurred except of course depreciation, which is not a cash flow. Depreciation is $23,000 of the manufacturing cost and $11,500 of the nonmanufacturing (fixed) cost for April. PL currently has a $2,900 loan at an annual interest rate of 12%. The interest is paid at the end of each month. If PL has more than $10,000 cash at the end of April it will pay back the loan. PL owes $5,600 in income taxes that need to be remitted in April. PL has cash of $5,100 on hand at the end of March. Print Done Reference - Cat-allac Dog-eriffic 580 $ 215 Revenue Budget For the Month of April Units Selling price Total Revenues 190 $ 260 $ 110,200 55,900 166,100 Total Manufacturing Overhead Budget For the Month of April Machine setup costs $ 9,100 Processing costs 60,000 480 Inspection costs $ 69,580 Total Direct Manufacturing Labor Costs Budget For the Month of April Cat-allac Dog-eriffic Output units produced 600 DMLH Total per unit 3 Hourly Hours Wage Rate 1,800 $ Total 14 $ 25,200 200 5 1,000 14,000 14 $ 39,200 Total Nonmanufacturing Costs Budget For the Month of April Salaries $ 18,200 Other fixed costs 20,000 Sales commissions 1,661 39,861 Total nonmanufacturing costs