Exercise 20-22 (Algo) Manufacturing: Cash budget LOP2 Use the following information to prepare the September cash budget for PTO Company. Ignore the "Loan activity" section of the budget. a. Beginning cash balance, September 1,$45,000. b. Budgeted cash receipts from September sales, $263,000. c. Direct materials are purchased on credit. Purchase amounts are August (actual), $70,000; and September (budgeted), $106,000. Payments for direct materials follow: 60% in the month of purchase and 40% in the first month after purchase. d. Budgeted cash payments for direct labor in September, $38,000. e. Budgeted depreciation expense for September, $3,900, f. Budgeted cash payment for dividends in September, $55,000. 9. Budgeted cash payment for income taxes in September, $10,900. h. Budgeted cash payment for loan interest in September, $1,400