I need help finishing the Cash Budget statement. The numbers I can figure out are the red boxes, please help.

Waterways Continuing Problem 23 Waterways Corporation is preparing im budget for the coming year, 2017. The rst step is to plan for the rst quarter of that coming year. Waterways gathered the following information from the managers. sale: Unit sales for November 2016 112,500 Unit sales for December 2016 102,100 Expected unit sales for January 2017 113,000 Expected unit sales for February 2017 112,500 Expected unit sales for March 2017 116,000 Expected unit sales for April 2017 125,000 Expected unit sales for May 2017 137,500 Unit selling price $12 Waterways likes to keep 10% of the next month's unit sales in ending inventory. All sales are on account. 55% of the Amounts Receivable are collected in the month of sale, and 15% of me Amounts Receivable are collected in the month after sale. Accounts receivable on December 31, 2016. totaled $183,730. Direct Materials Item Amount Used per Unit Inventory, Dec. 31 Metal 1|b @ 58 per lb. 5,177.5 lbs Plastic 12 oz @ 6 per oz 3,383.125 lbs Rubber 4 oz @ 5 per oz 1,294.375 lbs 2 lbs per un 10,355.0 lbs Metal, plastic, and rubber together are 75 per pound per unit. Waterways likes to keep 5% of me materials needed for the next month in its ending inventory. Payment for materials is made wiiin 15 days. 50% is paid in the month of purchase, and 50% is paid in the month after purchase. Accounts Payable on December 31, 2016, totaled $120,595. Raw Materials on December 31, 2016, totaled 11,295 pounds. Direct Labor Labor requires 12 minutes per unit for oompletion and is paid at a rate of $3 per hour. Manufacturing Overhead Indirect materials 304 per labor hour Indirect labor 504 per labor how Utilities 454 per labor hour Maintenance 254 per labor hour alaries $42 000 per month Depreciation $16 800 per month Property taxes $2 675 per month Insurance $1 200 per month Maintenance $1 300 per month Selling and Administrative Variable selling and administrative cost per unit is $1 60 Advertising $15 ,090 a month Insurance $1 400 a month Salaries 572000 a month Depreciation $2, 500 a month Other fixed costs $3000 a month Other Information The Cash balance on December 31 , 2016 , totaled $100 , 506 , but management has decided It would like to maintain a ca to maintain a cash balance of at least $809 , 000 beginning on January 31 , 2017 . Dividends are paid each month at the rate of $2 50 per share for 5 000 shares outstanding . The company has an open line of credit with Romney's Bank . The terms of the agreement requires borrowi borrowing to be in $1 000 in cements at 8 % interest . Waterways borrows and repays on the las the first day of the month and repays on the ( day of the month . A $500 ,000 equipme ipment purchase is planned for Fe FebruaryYour answer is correct. For the first quarter of 2017, prepare a sales budget. WATERWAYS CORPORATION Sales Budget For the First Quarter of 2017 First Quarter January February March Quarter Expected unit sales 113,000 112, 500 116,000 341, 500 Unit selling price 12 12 Total sales 1,356,000 1,350,000 1,392,000 4,098,000Your answer is correct For the first quarter of 2017 prepare a production budget . For the First Quarter of 2017 First Quarter January February March Quarter Expected Unit Sale 113 090 1 12.500 Home ) 341 500 LAND ) [ Desired Ending Finished Goods Units Him From ME ) & amp ) Total Required Units 124 250 124 , 100 128 500 354 090 Less - Beg ing ning Finished Goods Units 1 1 300 L 11 600 L Required Production Units 112 950 112 850 116 900 342 700Your answer is correct. For the first quarter of 2017, prepare a direct materials budget. (Round cost per pound to 2 decimal places, e.g. 0.25 and all other answers to 0 decimal places, e.g. 2,520.) WATERWAYS CORPORATION Direct Materials Budget For the First Quarter of 2017 First Quarter January February March Quarter Units to be Produced 112,950 112,850 116,900 342,700 Direct Materials Per Unit Total Pounds Needed for Production 225,900 225,700 233,800 685,400 Add Desired Ending Direct Materials (Ibs) 11, 285 11,690 12,625 12,625 Total Materials Required 237, 185 237,390 246,425 698, 025 Beginning Direct Materials (lbs) 11,295 11,285 11,690 11,295 Direct Materials Purchases 225,890 226,105 234,735 586,730 Cost Per Pound 0.75 0.75 0.75 0.75 Total Cost of Direct Materials Purchases ; 169,417.50 169,578.75 176,051.25 515,047.50Your answer is correct. For the first quarter of 2017, prepare a direct labor budget. (Round time per unit to nearest hour, e.g. 30 minutes will be rounded to 0.5 hours) WATERWAYS CORPORATION Direct Labor Budget For the First Quarter of 2017 First Quarter January February March Quarter "Units to be Produced 112,950 112, 850 116,900 342,700 Direct Labor Time (Hours) Per Unit : 0.2 0.2 0.2 0.2 Total Required Direct Labor Hours 22,590 22,570 23,380 68,540 Direct Labor Cost Per Hour 8 8 8 tA 8 Total Direct Labor Cost 180,720 180, 560 187,040 548,320WATERWAYS CORPORATION Manufacturing Overhead Budget For the First Quart arter of 2017 First Quarter January February March Quarter Variable Costs Indirect Materials 6,777 6,771 7,014 20,562 Indirect Labor 11,295 11,285 11,690 34,270 Utilities 10,165 10,156 10,521 30,843 Maintenance 5,647 5,642 5,845 17,135 Total Variable Cost 33,884 33,854 35,070 102,810 "Fixed Costs Salaries 42,000 42,000 42,000 126, 5,000 Depreciation 16,800 16,800 16,800 50,400 Property Taxes 2,675 2,675 2,675 8,025 Insurance 1,200 1,200 1,200 3,600 Maintenance 1,300 1,300 1,300 3,900 Total Fixed Costs 63,975 63,975 63,975 191,925 Total Manufacturing Overhead 97,859 97,829 99,045 294,735 [ Direct Labor Hours 22,590 22,570 23,380 68,540 Predetermined overhead rate for the quarter - 4.30Your answer is correct. For the first quarter of 2017, prepare a selling and administrative budget. (Enter per unit expenses rounded to 2 decimal places. E.g. 1.25) WATERWAYS CORPORATION Selling and Administrative Expense Budget For the First Quarter of 2017 First Quarter January February March Quarter Budget Sales In Units 113,000 112, 500 116,000 341,500 "Variable Expenses Per Unit 1.60 1.60 1.60 1.60 Total Variable S & A Expense: 180,800 180,000 185,600 546,400 Fixed Expenses Advertising 15,000 15,000 15,000 45,000 Salaries 72,000 72,000 72,000 216,000 Depreciation 2,500 2,500 2,500 7,500 Insurance 1,400 1,400 1,400 4,200 Other 3,000 3,000 3,000 9,000 Total Fixed Expenses 93,900 93,900 93,900 281,700 Total S & A Expenses 274,700 273,900 279,500 828, 100For the first quarter of 2017, prepare a schedule for expected cash collections from customers. ( Do not leave any answer field blank. Enter 0 for amounts. ) Schedule of Expected Collections from Customers January February March Accounts receivable 183,780 January sales 1,152,600 203,400 February sales 0 1,147,500 202,500 March sales 0 0 1,183,200 Total cash collections 1,336,380 1,350,900 1,385,700 LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Your answer is correct. For the first quarter of 2017, prepare a schedule for expected payments for materials purchases. (Round answers to 0 decimal places, e.g. 2,520. Do not leave any answer field blank. Enter 0 for amounts.) Schedule of Expected Cash Payments for Purchases January February March Quarter Accounts payable 120,595 120,595 January 84,708 84,708 169,417 February 0 84,789 84,789 169,578 March 0 0 88,025 88,025 Total payments 205,303 169,498 172,814 547,615WATERWAYS CORPORATION Cash Budget For the First Quarter of 2017 First Quarter January February March Quarter Beginning Cash Balance 100,500 Ex Add Receipts Collections From Customers 1,336,380 1,350,900 1,385,700 4,072,980 Total Available Cash 1,436,880 Disbursements Direct Materials 169,498 172,815 Direct Labor 180,720 180, 560 187,040 548,320 Manufacturing Overhead Selling And Administrative Dividends 12,500 12,500 12,500 37,500 Equipment Purchase 500,000 500,000 Total Disbursements Excess ( Deficiency) Of Available Cash Over Cash Disbursements ; Financing