Help Sa 4 Required information The following information applies to the questions displayed below) Built-Tight is preparing its master budget for the quarter ended September 30, 2017. Budgeted sales and cash payments Part 2 of 2 for product costs Tor the quarter follow Budgeted sales Budgeted cash paynents for 60,000 $76,000 $52,000 Direct materials Direct labor 16,960 14,240 14,560 4,840 4,160 4,240 21,000 17,600 18,000 Factory overhead Sales are 30% cash and 70% on credit. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $15,000 in cash: $45,800 in accounts receivable: $5,300 in accounts payable; and a $5,800 balance in loans payable. A minimum cash balance of $15,000 is required. Loans are obtained a when a cash shortage occurs. Interest is 1% per month based on the beginning-of-t each month-end. If an excess balance of cash exists, loans are repaid at the end of the month. Operating expenses are pad in the month incurred and consist of sales commissions (10% of sales), office salaries ($4,800 per month), and rent ($7,300 per month). the end of any month e and is paid at (2) Prepare a cash budget for each of the months of July, August, and September (Negative balances and Loan repayment amounts if any) should be indicated with minus sign. Enter your final answers in whole dollars.) Prev of5H Next > 4 Part 2 of 2 4 of 5 Next > Loan balance July g of month Loan balance-End of month 4 6