Garden Depot is a retaller that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash disbursements 1st Quarter $ 300,000 $ 358,000 2nd Quarter $.420,000 $328,000 3rd Quarter 4th Quarter $ 350,000 $370,000 $318,000 $338,000 The company's beginning cash balance for the upcoming fiscal year will be $35,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter Interest payments are due on any principal at the time it is repald. For simplicity, assume that interest is not compounded. Required: Prepare the company's cash budget for the upcoming fiscal year (Cash deficiency, repayments and Interest should be indicated by a minus slgn.) Year Garden Depot Cash Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess (deficiency) of cash available over disbursements Financing Borrowings Repayments interest Total financing Ending cash balance The Production Department of Hruska Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year. Units to be produced 1st Quarter 10,900 2nd Quarter 9,900 3rd Quarter 11,989 4th Quarter 12,909 Each unit requires 0.25 direct labor-hours and direct laborers are paid $12.00 per hour. In addition, the variable manufacturing overhead rate is $2.00 per direct labor-hour. The fixed manufacturing overhead is $89,000 per quarter. The only noncash element of manufacturing overhead is depreciation, which is $29,000 per quarter. Required: 1. Calculate the company's total estimated direct labor cost for each quarter of the upcoming fiscal year and for the year as a whole 2&3. Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter of the upcoming fiscal year and for the year as a whole. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 and 3 Calculate the company's total estimated direct labor cost for each quarter of the upcoming fiscal year and for the year whole. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Total direct labor cost The Production Department of Hruska Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year Units to be produced 1st Quarter 10,900 2nd Quarter 9,900 3rd Quarter 11,900 4th Quarter 12,900 Each unit requires 0.25 direct labor-hours and direct laborers are paid $12.00 per hour. In addition, the variable manufacturing overhead rate is $2.00 per direct labor-hour. The fixed manufacturing overhead is $89,000 per quarter. The only noncash element of manufacturing overhead is depreciation, which Is $29,000 per quarter. Required: 1. Calculate the company's total estimated direct labor cost for each quartes of the upcoming fiscal year and for the year as a whole. 2&3. Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter of the upcoming fiscal year and for the year as a whole. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing quarter of the upcoming fiscal year and for the year as a whole. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Total manufacturing overhead Cash disbursements for manufacturing overhead
