First Second Third Cash budget Quarter Quarter Quarter Fourth Quarter Beginning cash 10,000 $ 52,500 $ 59,500 62,500 Customer receipts 140,000 160,000 200,000 250,000 Available cash $ 150,000 $ 212,500 259,500 312,500 Less: disbursements Direct materials Direct labor 28,000 $ 30,000 41,000 48,000 14,000 16,000 20,000 25,000 Factory overhead 13,500 14,000 15,000 17,000 SG&A 31,000 31,000 33,000 33,000 Other expense and tax 11,000 12,000 13,000 15,000 Equipment purchases 250,000 225,000 Total disbursements $ 97,500 $ 353,000 $ 122,000 $ 363,000 Cash surplus (deficit) Financing: Planned borrowing tA 52,500 $ (140,500) $ 137,500 $ (50,500) 200,000 125,000 Planned repayment A (75,000) Ending cash balance $ 52,500 $ 59,500 $ 62,500 $ 74,500