Deitz Corporation is projecting a cash balance of $34,800 in its December 31, 2019, balance sheet. Deitz's schedule of expected collection shows total collections of $ 214,600. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payr the first quarter of 2020 is sale of equipment $3,480; direct labor $81,200, manufacturing overhead $40,600, selling and administrative en $16,240. Deitz wants to maintain a balance of at least $29,000 cash at the end of each quarter. Prepare a cash budget for the first quarter. DEITZ CORPORATION Cash Budget Deitz Corporation is projecting a cash balance of $34,800 in its December 31, 2019, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2020 shows total collections of $214,600. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $49.990. Other Information gathered for the first quarter of 2020 is sale of equipment $3,480; direct labor $81,200, manufacturing overhead $40,600, selling and administrative expenses $52.200, and purchase of securities $16.240. Deitz wants to maintain a balance of at least $29,000 cash at the end of each quarter. Prepare a cash budget for the first quarter. DEITZ CORPORATION Cash Budget 34800 Beginning Cash Balance Add : Recelets 214600 Collections from Customers 3400 Sale of Equipment 218030 Total Receipts