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Crane Corporation is projecting a cash balance of $ 3 1 , 8 0 0 in its December 3 1 , 2 0 2 4

Crane Corporation is projecting a cash balance of $31,800 in its December 31,2024, balance sheet. Crane's schedule of expected collections from customers for the first quarter of 2025 shows total collections of $196,100. The schedule of expected payments for direct materials for the first quarter of 2025 shows total payments of $45,580. Other information gathered for the first quarter of 2025 is sale of equipment $3,180; direct labor $74,200, manufacturing overhead $37,100, selling and administartive expenses $47,700; and purchase of securities $14,840. Crane wants to maintain a balance of at least $26,500 cash at the end of the quarter. Prepare a cash budget for the first quarter.

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