Question
Deitz Corporation is projecting a cash balance of $37,620in its December 31, 2016, balance sheet. Deitzs schedule of expected collections from customers for the first
Deitz Corporation is projecting a cash balance of $37,620in its December 31, 2016, balance sheet. Deitzs schedule of expected collections from customers for the first quarter of 2017 shows total collections of $231,990. The schedule of expected payments for direct materials for the first quarter of 2017 shows total payments of $53,922. Other information gathered for the first quarter of 2017 is sale of equipment $3,762; direct labor $87,780, manufacturing overhead $43,890, selling and administrative expenses $56,430; and purchase of securities $17,556. Deitz wants to maintain a balance of at least $31,350cash at the end of each quarter.
Prepare a cash budget for the first quarter.(Do not leave any answer field blank. Enter 0 for amounts.)
DEITZ CORPORATION Cash Budget For the Month Ended March 31, 2017March 31, 2017For the Quarter Ended March 31, 2017 | |
Manufacturing OverheadFinancingDirect LaborEnding Cash BalancePurchase of SecuritiesExcess of Available Cash Over Cash DisbursementsReceiptsSale of EquipmentRepaymentsSelling and Administrative ExpensesTotal Available CashTotal DisbursementsCollections from CustomersDisbursementsDirect MaterialsTotal ReceiptsBeginning Cash BalanceBorrowings | $ |
AddLess: Collections from CustomersBeginning Cash BalanceDisbursementsTotal Available CashDirect LaborSale of EquipmentBorrowingsPurchase of SecuritiesEnding Cash BalanceTotal DisbursementsDirect MaterialsManufacturing OverheadExcess of Available Cash Over Cash DisbursementsFinancingReceiptsRepaymentsSelling and Administrative ExpensesTotal Receipts | |
Direct MaterialsBorrowingsTotal Available CashPurchase of SecuritiesReceiptsCollections from CustomersManufacturing OverheadDirect LaborFinancingDisbursementsEnding Cash BalanceRepaymentsExcess of Available Cash Over Cash DisbursementsSale of EquipmentSelling and Administrative ExpensesTotal DisbursementsTotal ReceiptsBeginning Cash Balance | |
Manufacturing OverheadPurchase of SecuritiesRepaymentsReceiptsEnding Cash BalanceSale of EquipmentTotal Available CashTotal DisbursementsCollections from CustomersExcess of Available Cash Over Cash DisbursementsSelling and Administrative ExpensesTotal ReceiptsBeginning Cash BalanceDirect MaterialsBorrowingsDirect LaborDisbursementsFinancing | |
RepaymentsDirect MaterialsTotal DisbursementsTotal Available CashEnding Cash BalanceCollections from CustomersSelling and Administrative ExpensesBorrowingsExcess of Available Cash Over Cash DisbursementsDisbursementsBeginning Cash BalanceDirect LaborTotal ReceiptsFinancingReceiptsManufacturing OverheadSale of EquipmentPurchase of Securities | |
ReceiptsExcess of Available Cash Over Cash DisbursementsTotal Available CashTotal DisbursementsSelling and Administrative ExpensesBorrowingsRepaymentsTotal ReceiptsDisbursementsBeginning Cash BalanceSale of EquipmentEnding Cash BalanceFinancingManufacturing OverheadCollections from CustomersPurchase of SecuritiesDirect LaborDirect Materials | |
AddLess: Selling and Administrative ExpensesTotal DisbursementsTotal Available CashBeginning Cash BalanceExcess of Available Cash Over Cash DisbursementsEnding Cash BalanceTotal ReceiptsManufacturing OverheadFinancingDirect LaborDirect MaterialsPurchase of SecuritiesCollections from CustomersReceiptsBorrowingsDisbursementsRepaymentsSale of Equipment | |
Ending Cash BalanceExcess of Available Cash Over Cash DisbursementsPurchase of SecuritiesBeginning Cash BalanceRepaymentsSale of EquipmentSelling and Administrative ExpensesReceiptsManufacturing OverheadTotal Available CashTotal ReceiptsBorrowingsTotal DisbursementsCollections from CustomersDirect LaborDirect MaterialsDisbursementsFinancing | |
Total ReceiptsPurchase of SecuritiesExcess of Available Cash Over Cash DisbursementsBeginning Cash BalanceFinancingBorrowingsReceiptsManufacturing OverheadDirect MaterialsDisbursementsCollections from CustomersRepaymentsEnding Cash BalanceDirect LaborSale of EquipmentTotal DisbursementsSelling and Administrative ExpensesTotal Available Cash | |
Excess of Available Cash Over Cash DisbursementsEnding Cash BalanceDirect LaborManufacturing OverheadDisbursementsBorrowingsRepaymentsPurchase of SecuritiesSale of EquipmentFinancingTotal ReceiptsReceiptsSelling and Administrative ExpensesTotal Available CashTotal DisbursementsCollections from CustomersDirect MaterialsBeginning Cash Balance | |
ReceiptsDirect LaborTotal Available CashCollections from CustomersSelling and Administrative ExpensesFinancingTotal ReceiptsEnding Cash BalanceDirect MaterialsManufacturing OverheadBeginning Cash BalanceDisbursementsPurchase of SecuritiesExcess of Available Cash Over Cash DisbursementsBorrowingsRepaymentsSale of EquipmentTotal Disbursements | |
Beginning Cash BalanceRepaymentsTotal DisbursementsPurchase of SecuritiesDisbursementsSale of EquipmentSelling and Administrative ExpensesFinancingReceiptsManufacturing OverheadTotal Available CashTotal ReceiptsEnding Cash BalanceExcess of Available Cash Over Cash DisbursementsBorrowingsCollections from CustomersDirect LaborDirect Materials | |
Collections from CustomersTotal DisbursementsBorrowingsManufacturing OverheadBeginning Cash BalanceTotal ReceiptsDirect LaborSale of EquipmentDirect MaterialsEnding Cash BalanceDisbursementsReceiptsExcess of Available Cash Over Cash DisbursementsFinancingPurchase of SecuritiesRepaymentsSelling and Administrative ExpensesTotal Available Cash | |
ReceiptsEnding Cash BalanceExcess of Available Cash Over Cash DisbursementsManufacturing OverheadBeginning Cash BalanceBorrowingsPurchase of SecuritiesFinancingSelling and Administrative ExpensesTotal Available CashRepaymentsSale of EquipmentDisbursementsTotal DisbursementsTotal ReceiptsDirect LaborDirect MaterialsCollections from Customers | |
Direct MaterialsDirect LaborManufacturing OverheadDisbursementsCollections from CustomersEnding Cash BalanceExcess of Available Cash Over Cash DisbursementsFinancingReceiptsRepaymentsPurchase of SecuritiesSale of EquipmentSelling and Administrative ExpensesTotal Available CashTotal DisbursementsTotal ReceiptsBeginning Cash BalanceBorrowings | |
LessAdd: FinancingSale of EquipmentBeginning Cash BalanceTotal Available CashManufacturing OverheadTotal DisbursementsPurchase of SecuritiesReceiptsRepaymentsSelling and Administrative ExpensesCollections from CustomersTotal ReceiptsEnding Cash BalanceBorrowingsDirect LaborDirect MaterialsDisbursementsExcess of Available Cash Over Cash Disbursements | |
LessAdd: Direct LaborSelling and Administrative ExpensesTotal Available CashExcess of Available Cash Over Cash DisbursementsTotal DisbursementsDirect MaterialsBeginning Cash BalanceReceiptsTotal ReceiptsManufacturing OverheadBorrowingsCollections from CustomersDisbursementsRepaymentsEnding Cash BalanceSale of EquipmentFinancingPurchase of Securities | |
FinancingTotal DisbursementsTotal ReceiptsCollections from CustomersSelling and Administrative ExpensesEnding Cash BalanceManufacturing OverheadExcess of Available Cash Over Cash DisbursementsDirect MaterialsDisbursementsRepaymentsTotal Available CashPurchase of SecuritiesSale of EquipmentReceiptsBeginning Cash BalanceBorrowingsDirect Labor | $ |
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