Prepare a budgeted statement of cash budget for the first quarter of 2018. Handley Bug Spray Manufacturing Company Cash Budget For the First Quarter, 2018 Cash collected from sales In quarter 4, 2017 In quarter 1, 2018 Cash payments Payment of material In quarter 4, 2017 In quarter 1, 2018 Payment for labor Payment for variable overhead Payment for fixed bug removal casts Payment for fixed selling and administrative expense Payment of income taxes Excess/(defiaency) of receipts over disbursements Beginning cash balance Ending cash balance 255,000 270300 68, 544 525,300