February March 1st Qtr Prepare a Cash budget for the first quarter of 2018. Cash Receipts November December January Sales (on credit) $412,500.00 $407,000.00 collected in current month $165,000.00 $162,800.00 collected in next month $206,250.00 collected in next month Total cash receipts-sales Sales 2017 November 375,000 December 370,000 Sales 2018 January 350,000 February 425,000 March 400,000 April 395,000 May 375,000 June 350,000 July 375,000 August 385,000 September 395,000 October 405,000 November 400,000 December 365,000 Cash Disbursements November December January $42,388.88 February March 1st Qtr Total DM purchases-concentrate $33,911.10 pay in current month remaining bal in following month Total DM purchases-bottles $45,214.80 $36, 171.84 pay in current month remaining bal in following month Total disbursements for DM Total disbursements for DL Manufacturing overhead costs $53,696.69 $42,957.35 Pay in current month remaining bal in following month Total disbursements for OH Total disbursements for OH Total disbursements for Selling & Administration Total cash disbursements Cost of Goods Manufactured 1st Quarter Direct Materials: Purchases Beginning inventory Less Ending Inventory Direct Materials Used Direct Labor Overhead Beginning WIP Less Ending WIP Cost of Goods Manufactured $20,000.00 -$18,000.00 Cost of Goods Sold 1st Quarter Cost of Goods Manufactured Beginning Finished Goods Less Ending Finished Goods Cost of Goods Sold $24,000.00 -$33,180.00 Pro Forma Income Statement 1st Quarter Sales Cost of Goods Sold Gross Profit Operating Expenses Net Income Prepare the overall Cash Budget for the first quarter of 2018. The January 1st cash balance is $500,000 Overall Cash Budget 1st Quarter Cash Receipts Cash Disbursements Change in Cash $500,000.00 Beginning Cash Ending Cash February March 1st Qtr Prepare a Cash budget for the first quarter of 2018. Cash Receipts November December January Sales (on credit) $412,500.00 $407,000.00 collected in current month $165,000.00 $162,800.00 collected in next month $206,250.00 collected in next month Total cash receipts-sales Sales 2017 November 375,000 December 370,000 Sales 2018 January 350,000 February 425,000 March 400,000 April 395,000 May 375,000 June 350,000 July 375,000 August 385,000 September 395,000 October 405,000 November 400,000 December 365,000 Cash Disbursements November December January $42,388.88 February March 1st Qtr Total DM purchases-concentrate $33,911.10 pay in current month remaining bal in following month Total DM purchases-bottles $45,214.80 $36, 171.84 pay in current month remaining bal in following month Total disbursements for DM Total disbursements for DL Manufacturing overhead costs $53,696.69 $42,957.35 Pay in current month remaining bal in following month Total disbursements for OH Total disbursements for OH Total disbursements for Selling & Administration Total cash disbursements Cost of Goods Manufactured 1st Quarter Direct Materials: Purchases Beginning inventory Less Ending Inventory Direct Materials Used Direct Labor Overhead Beginning WIP Less Ending WIP Cost of Goods Manufactured $20,000.00 -$18,000.00 Cost of Goods Sold 1st Quarter Cost of Goods Manufactured Beginning Finished Goods Less Ending Finished Goods Cost of Goods Sold $24,000.00 -$33,180.00 Pro Forma Income Statement 1st Quarter Sales Cost of Goods Sold Gross Profit Operating Expenses Net Income Prepare the overall Cash Budget for the first quarter of 2018. The January 1st cash balance is $500,000 Overall Cash Budget 1st Quarter Cash Receipts Cash Disbursements Change in Cash $500,000.00 Beginning Cash Ending Cash