More info - X Marlin's beginning cash balance is $7,000 and Marlin desires to maintain a minimum ending cash balance of $7,000. Marlin 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 15% per year. Interest is paid at the beginning of the month on the outstanding balance from the previous month Print Done Marlin Company Cash Budget January, February, and March January 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 Help me solve this Demodocs example Get more help 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) Financing Borrowing Principal repayments Total effects of financing Ending cash balance Cash Receipts from Customers Total Total sales January February March S 10.600 S 10,200 $ 15,800 $ January February March 36,600 Total Cash Receipts from Customers: Accounts Receivable balance. January 1 s 7.420 1590 1.590 7 140 January-Cash sales January--Credit sales collection of January sales in January January-Credit sales, collection of January sales in February February--Cash sales February-Credit 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 1.530 S 1 530 11 060 2 370 14 960|| S 9.010s 10,260$ 34 230 Total cash receipts from customers ufacturing overhead ng ost Reference cast January February March Total mcd dal ng: wir Cash Payments Direct Materials: Accounts Payable balance, January 1 JanuaryDirect material purchases paid in February February-Direct material purchases paid in March Total payments for direct materials 3,000 sipal 4,100 4,100 $ act 3,000 7.100 al Direct Labor Total payments for direct labor 3,500 3,300 4,000 10,800 750 750 Manufacturing Overhead: Utilities for plant Property taxes on plant Total payments for manufacturing overhead 2.400 1,500 2.400 3,900 2,400 750 750 510 510 Selling and Administrative Expenses: Utilities for office Property taxes on office Office salaries Total payments for Selling and Admin. expenses 2. 160 1,020 2.150 13,500 4.500 4,500 4,500 5,010 6,660 5,010 16,680 12,560 12,060 $ 13,860 $ 38,480 Total cash payments Acccount balances, March 31: Prepaid Property Taxes Accounts Payable Utilities Payable $ 3.420 $ 4.900 1.260 $ Print Done
