Bentfield Health Center provides a variety of medical services. The company is preparing its cash budget for the upcoming third quarter. The following transactions are expected to occur:

$($Click the icon to view the expected transactions$)$

Requirement

Prepare a combined cash budget for Bentfield Health Center for the third quarter, with a column for each month and for the quarter total. $($If an input field is not used in the table leave the input field empty; do not enter a zero. Use parentheses or a minus sign for negative ending cash balances.$)$

Bentfield Health Center

Combined Cash Budget

For the Months of July through September

Beginning balance of cash

Plus: Cash collections

Total cash available

Less: Cash payments

$\backslash$table$[[$July$],[34000],[93000],[127000],[143000]]$

Ending cash balance before financing

Financing:

Plus: New borrowings

Less: Debt repayments

Less: Interest payments

Ending cash balance

More info

a$.$ Cash collections from services in July, August, and September, are projected to be $$93,000,$$$159,000,$ and $$126,000$ respectively.

b$.$ Cash payments for the upcoming third quarter are projected to be $$142,000$ in July, $$109,000$ in August, and $$136,000$ in September.

c$.$ The cash balance as of the first day of the third quarter is projected to be $$33,000.$

d$.$ The health center has a policy that it must maintain a minimum cash balance of $$27,000.$

The health center has a line of credit with the local bank that allys it to borrow funds in months that it would not otherwise have its minimum balance. If the company has more than its minimum balance at the end of any given month, it uses the excess funds to pay off any outstanding line of credit balance. Each month, Bentfield Health Center pays interest on the prior month's line of credit ending balance. The actual interest rate that the health center will pay floats since it is tied to the prime rate. However, the interest paid during the budget period is expected to be $1\%$ of the prior month's line of credit ending balance $($if the company did not have an outstanding balance at the end of the prior month, then the health center does not have to pay any interest$).$ All line of credit borrowings are taken by the end of the month $($when the the cash balance has not met its minimum balance$),$ or paid off by the end of the month $($when the cash balance is sufficient$).$ As of the first day of the third quarter, Bentfield Health Center did not have a balance on its line of credit.

Johnson Industries manufactures three models of a product in a single plant with two departments: Cutting and Assembly. The company has estimated costs for each of the three product models, the Royal, the Zip, and the Imperial models.

$($Click the icon to view the direct labor hour information.$)($Click the icon to view the unit production information.$)$

Requirement

Prepare a direct labor budget for the upcoming year that shows the budgeted direct labor costs for each department and for the company as a whole.

Prepare the direct labor budget for the Cutting Department, then the Assembly Department, and finally the company as a whole.

Johnson Industries

Direct Labor Budget

For the Upcoming Year

Cutting Department

Units to be produced

Multiply by: Direct labor hours per unit

Total cutting hours required

Multiply by: Direct labor cost per hour

Budgeted direct labor cost

$($Click the icon to view the direct labor hour information.$)$

$($Click the icon to view the unit production information.$)$

Requirement

Prepare a direct labor budget for the upcoming year that shows the budgeted direct labor costs for each department and for the company as a whole.

Data table

$($Click the icon to view the direct labor hour information.$)$

$($Click the icon to view the unit production information.$)$

Requirement

Prepare a direct labor budget for the upcoming year that shows the budgeted direct labor costs for each department and for the company as a whole.

Johnson Industries manufactures three models of a product in a single plant with two departments: Cutting and Assembly. The company has estimated costs for each of the three product models, the Royal, the Zip, and the Imperial models.

$($Click the icon to view the direct labor hour information.$)$

$($Click the icon to view the unit production information.$)$

Requirement

Prepare a direct labor budget for the upcoming year that shows the budgeted direct labor costs for each department and for the company as a whole.

Prepare the direct labor budget for the Cutting Department, then the Assembly Department, and finally the company as a whole.

Johnson Industries

Direct Labor Budget

For the Upcoming Year