Avery Company has prepared the following schedules and additional information: Click the icon to view the cash receipts schedule.) 2 (Click the icon to view the cash payments schedule.) A (Click the icon to view the additional information.) Complete a cash budget for Avery Company for January February and March. (Complete all input fields. Enter a "O" for any zero balances. Round all amounts entered into the cash budget to the nearest whole dollar. Enter a cash deficiency with a minus sign or parentheses. - X X at More info c e e Avery's beginning cash balance is $3,000 and Avery desires to maintain a minimum ending cash balance of $3,000. Avery borrows cash as needed at the beginning of each month in increments of $1,000 and repays the amounts borrowed in increments of $1.000 at the beginning of months when excess cash is available. The interest rate on amounts borrowed is 3% per year. Interest is paid at the beginning of the month on the outstanding balance from the previous month. Sal Ore Ore h Print Done sli c - Reference Reference Cash Receipts from Customers January February March Total January February March Total Total sales 34,100 $ 11,200 $ 10,100 $ 12.800 $ $ January February March Total Cash Payments Direct Materials Accounts Payable balance, January 1 JanuaryDirect material purchases paid in February - February-Direct material purchases paid in March $ $ 0 $ 3.700 S 4,200 4,200 $ $ 8.900 0 3,700 7,900 Total payments for direct materials 1,120 s 1,120 Cash Receipts from Customers: Accounts Receivable balance, January 1 JanuaryCash sales JanuaryCredit sales, collection of January sales in January JanuaryCredit sales, collection of January sales in February February-Cash sales FebruaryCredit sales, collection of February sales in February February-Credit sales, collection of February sales in March March-Cash sales March-Credit sales, collection of March sales in March Direct Labor: 8,080 Total payments for direct labor 2,900 3,700 3,600 10,200 1,010 $ $ 1,010 Manufacturing Overhead: 10.240 1.280 Utilities for plant 650|| 650 1.300 3.120 Property taxes on plant 3,120 $ 10,080$ 10,210 $ 12.530 S 32,820 Total cash receipts from customers Total payments for manufacturing overhead 3,120 650 650 4,420 Accounts Receivable balance, March 31: March-Credit sales, collection of March sales in April Selling and Administrative Expenses: Utilities for office $ 1.280 630 630 1.260 ( Print Done (Print ) Done Avery Company Cash Budget January, February, and March January February March Total Beginning cash balance Cash receipts Cash available Cash payments: Purchases of direct materials Direct labor Manufacturing overhead Selling and administrative expenses Interest expense Total cash payments Ending cash balance before financing Minimum cash balance desired Projected cash excess (deficiency) OCESI Dalarie des Projected cash excess (deficiency) Financing: Borrowing Principal repayments Total effects of financing Ending cash balance Avery Company has prepared the following schedules and additional information: Click the icon to view the cash receipts schedule.) 2 (Click the icon to view the cash payments schedule.) A (Click the icon to view the additional information.) Complete a cash budget for Avery Company for January February and March. (Complete all input fields. Enter a "O" for any zero balances. Round all amounts entered into the cash budget to the nearest whole dollar. Enter a cash deficiency with a minus sign or parentheses. - X X at More info c e e Avery's beginning cash balance is $3,000 and Avery desires to maintain a minimum ending cash balance of $3,000. Avery borrows cash as needed at the beginning of each month in increments of $1,000 and repays the amounts borrowed in increments of $1.000 at the beginning of months when excess cash is available. The interest rate on amounts borrowed is 3% per year. Interest is paid at the beginning of the month on the outstanding balance from the previous month. Sal Ore Ore h Print Done sli c - Reference Reference Cash Receipts from Customers January February March Total January February March Total Total sales 34,100 $ 11,200 $ 10,100 $ 12.800 $ $ January February March Total Cash Payments Direct Materials Accounts Payable balance, January 1 JanuaryDirect material purchases paid in February - February-Direct material purchases paid in March $ $ 0 $ 3.700 S 4,200 4,200 $ $ 8.900 0 3,700 7,900 Total payments for direct materials 1,120 s 1,120 Cash Receipts from Customers: Accounts Receivable balance, January 1 JanuaryCash sales JanuaryCredit sales, collection of January sales in January JanuaryCredit sales, collection of January sales in February February-Cash sales FebruaryCredit sales, collection of February sales in February February-Credit sales, collection of February sales in March March-Cash sales March-Credit sales, collection of March sales in March Direct Labor: 8,080 Total payments for direct labor 2,900 3,700 3,600 10,200 1,010 $ $ 1,010 Manufacturing Overhead: 10.240 1.280 Utilities for plant 650|| 650 1.300 3.120 Property taxes on plant 3,120 $ 10,080$ 10,210 $ 12.530 S 32,820 Total cash receipts from customers Total payments for manufacturing overhead 3,120 650 650 4,420 Accounts Receivable balance, March 31: March-Credit sales, collection of March sales in April Selling and Administrative Expenses: Utilities for office $ 1.280 630 630 1.260 ( Print Done (Print ) Done Avery Company Cash Budget January, February, and March January February March Total Beginning cash balance Cash receipts Cash available Cash payments: Purchases of direct materials Direct labor Manufacturing overhead Selling and administrative expenses Interest expense Total cash payments Ending cash balance before financing Minimum cash balance desired Projected cash excess (deficiency) OCESI Dalarie des Projected cash excess (deficiency) Financing: Borrowing Principal repayments Total effects of financing Ending cash balance