Fine Furniture Co. manufactures wooden Tables, Chairs, and Bookshelves. Management is preparing the budgets for June, and has accumulated the following information: Product Information Revenue: Tables Chairs Bookshelves Expected June sales in units 2,000 10,000 3,000 Expected July sales in units 2,500 12,000 5,000 Selling Price per unit Manufacturing Costs: $250 $40 $50 Variable Overhead per Direct Labor hour $2 $2 $2 Direct Labors per unit (at a rate of $8/hour) Direct Materials (feet of lumber per unit @ 10 5 3 $0.50/foot) Selling and Administrative Costs: 40 15 25 Sales Commission (% of sales dollars) 2% 2% 2% Shipping costs per unit $10 $5 $3 Other budgeted information Manufacturing Costs: Factory Rent $5,000 Supervisor Salary $7,000 Insurance $3,000 Factory Equipment Depreciation Selling and Administrative Costs: $6,000 Office Rent $2,000 Administrative Salaries $12,000 Property Taxes $3,000 Office Equipment Depreciation $1,000 Fine Furniture generally collects 75% of their Accounts Receivable in the period of sale, and the remainder in the period following. The beginning Cash balance for June is $400,000. The beginning balance in A/R for June is $250,000. The company purchases materials as needed in production and does not carry materials in inventory. It pays its supplier 60% of the cost of purchases in the period bought, and the remainder in the period following. All wages, manufacturing costs and selling and administrative costs are paid in the period in which they are incurred. During the month, management sold equipment for scrap for $4,000, and used the proceeds to help fund the purchase of new equipment for $20,000. What is the budgeted Cash balance for the end of June?