cash budget please!

D re E 3 4 PART 3 Budgets 5 6 7 8 Division N has decided to develop its budget based upon projected sales of 39,000 lamps at 9 $49.00 per lamp 13 The company has requested that you prepare a master budget for the year. This budget is to be used 14 for planning and control of operations and should be composed of: 15 1. Production Budget 16 17 2. Materials Budget 3. Direct Labor Budget 21 22 23 24 25 29 30 31 32 4. Factory Overhead Budget 5. Selling and Administrative Budget 6. Cost of Goods Sold Budget 33 37 7. Budgeted Income Statement 38 39 8. Cash Budget 40 41 Notes for Budgeting: 45 46 47 The company wants to maintain the same number of units in the beginning and ending inventories of 48 work-in-process, and electrical parts while increasing the inventory of Lamp Kits to 750 pieces and 49 decreasing the finished goods by 20% 53 54 Complete the following budgets 55 56 1 Production Budget 57 61 Planned Sales 62 Desired Ending Inventory of Finished Goods 63 Total Needed 64 Less: Beginning Inventory 65 69 Total Production 70 71 72 73 77 39000 2400 41400 3000 38,400 units 8 Cash Budget Assume actual cash receipts and disbursements will follow the pattern below: (Note: Receivables and Payables of 12/31/x1 will have a cash impact in 20x2.) 1. 23.00% of sales for the year are made in November and December. Since our customers have 60 day terms those funds will be collected be collected in January and February. 2. 89.00% of material purchases will be paid during the year, the remaining portion will be paid in Januay or February. 3. All other manufacturing and operating costs are paid for when incurred. 4. The budgeted depreciation expense is equal to 0.6% of the fixed manufacturing, selling and administrative expenses. 35. Minimum Cash Balance needed for 20x2, $180,000 I See The Light Projected Cash Budget For the Year Ending December 31, 20x2 Round dollars to two places, $##.## 3 34 $5 36 67 774 775 776 77 Beginning Cash Balance Cash Inflows: Sales Collections: Account Receivable (Sales last year not collected) Sales made and collected in 20x2 Cash Available 78 Cash Outflows: Purchases Accounts Payable (Purchases last year) Purchases made and paid for in 20x2 Other Manufacturing Costs Direct Labor Total Manufacturing Overhead Seling and Administrative Less: Depreciation Total Cash Outflows 85 86 87 88 B9 96 97 98 99 100 107 108 109 110 111 112 113 114 115 116 Budgeted Cash Balance before financing Needed Minimum Balance (10 (10 (10 Amount to be borrowed (if any) Budgeted Cash Balance (10.0 (10.1