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Chai Me, Inc. is a manufacturer of herbal tea products. The company is currently preparing its budget for September. It expects to begin the month
Chai Me, Inc. is a manufacturer of herbal tea products. The company is currently preparing its budget for September. It expects to begin the month with $3,200 in cash. The following additional information was compiled for September: Expected receipts from customers. . . $31,000 Expected payments to suppliers... Expected direct labor costs... Expected MOH costs... Expected SG&A costs... $1,500 $2,000 $1,740 $1,290 $1,460 in noncash expenses are included in the expected MOH and SG&A costs listed above. Chai's capital expenditure budget showed an expected computer upgrade in September costing $3,000. The company anticipates paying cash dividends to shareholders in the amount of $600 during September. What is the company's projected cash balance on September 30? $24,070 $22,330 $21,930 $25,530 $22,610
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