Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash disbursements (excluding cash disbursements for loan principal and interest payments) for the first three months of next year.

	Cash Receipts		Cash Disbursements
January	$	524,000	$	476,000
February		405,500		350,000
March		460,000		521,000

According to a credit agreement with the companys bank, Kayak promises to have a minimum cash balance of $30,000 at each month-end. In return, the bank has agreed that the company can borrow up to $140,000 at an annual interest rate of 12%, paid on the last day of each month. The interest is computed. based on the beginning balance of the loan for the month. The company repays loan principal with available cash on the last day of each month. The company has a cash balance of $30,000 and a loan balance of $60,000 at January 1.

Prepare monthly cash budgets for each of the first three months of next year. (Be certain to enter "0" wherever required. Negative balance and Loan repayment amount should be indicated with minus sign.)

KAYAK COMPANY
Cash Budget
For January, February, and March
	January	February	March
Beginning cash balance	$30,000	$30,000	?
Cash receipts	524,000	405,500	460,000
Total cash available	554,000	435,500	506,800
Cash disbursements	(476,000)	(350,000)	(521,000)
Interest expense	(600)	(126)	?
Preliminary cash balance	77,400	85,374	?
Additional loan (loan repayment)	(47,400)	(55,374)	?
Ending cash balance	$30,000	?	$30,000
Loan balance
Loan balance - Beginning of month	$60,000	$12,600	?
Additional loan (loan repayment)	(47,400)	?	?
Loan balance - End of month	$12,600	?	?

As you can see I have answered most of the question. But, Could not figure out the numbers where the ? is placed. Please make sure to give me the correct answer. Every other number on this is correct. Thank you

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The management of Zigby Manufacturing prepared the following estimated balance sheet for March, 2015:

ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2015
Assets
Cash	$	54,000
Accounts receivable		354,375
Raw materials inventory		100,495
Finished goods inventory		333,000
Total current assets		841,870
Equipment, gross		628,000
Accumulated depreciation		(164,000)
Equipment, net		464,000
Total assets	$	1,305,870
Liabilities and Equity
Accounts payable		212,195
Short-term notes payable		26,000
Total current liabilities	$	238,195
Long-term note payable		514,000
Total liabilities		752,195
Common stock		349,000
Retained earnings		204,675
Total stockholders equity		553,675
Total liabilities and equity	$	1,305,870

To prepare a master budget for April, May, and June of 2015, management gathers the following information.

a.	Sales for March total 22,500 units. Forecasted sales in units are as follows: April, 22,500; May, 19,500; June, 21,700; July, 22,500. Sales of 254,000 units are forecasted for the entire year. The products selling price is $22.50 per unit and its total product cost is $18.50 per unit.
b.	Company policy calls for a given months ending raw materials inventory to equal 50% of the next months materials requirements. The March 31 raw materials inventory is 5,025 units, which complies with the policy. The expected June 30 ending raw materials inventory is 5,400 units. Raw materials cost $20 per unit. Each finished unit requires 0.50 units of raw materials.
c.	Company policy calls for a given months ending finished goods inventory to equal 80% of the next months expected unit sales. The March 31 finished goods inventory is 18,000 units, which complies with the policy.
d.	Each finished unit requires 0.50 hours of direct labor at a rate of $10 per hour.
e.	Overhead is allocated based on direct labor hours. The predetermined variable overhead rate is $4.10 per direct labor hour. Depreciation of $30,790 per month is treated as fixed factory overhead.
f.	Sales representatives commissions are 6% of sales and are paid in the month of the sales. The sales managers monthly salary is $4,400.
g.	Monthly general and administrative expenses include $26,000 administrative salaries and 0.5% monthly interest on the long-term note payable.
h.	The company expects 30% of sales to be for cash and the remaining 70% on credit. Receivables are collected in full in the month following the sale (none is collected in the month of the sale).
i.	All raw materials purchases are on credit, and no payables arise from any other transactions. One months raw materials purchases are fully paid in the next month.
J.	The minimum ending cash balance for all months is $54,000. If necessary, the company borrows enough cash using a short-term note to reach the minimum. Short-term notes require an interest payment of 1% at each month-end (before any repayment). If the ending cash balance exceeds the minimum, the excess will be applied to repaying the short-term notes payable balance.
K.	Dividends of $24,000 are to be declared and paid in May.

l.	No cash payments for income taxes are to be made during the second calendar quarter. Income tax will be assessed at 40% in the quarter and paid in the third calendar quarter.
m.	Equipment purchases of $144,000 are budgeted for the last day of June.

Required:

Prepare the following budgets and other financial information as required. All budgets and other financial information should be prepared for the second calendar quarter, except as otherwise noted below. Round calculations up to the nearest whole dollar, except for the amount of cash sales, which should be rounded down to the nearest whole dollar:

Production Budget:

ZIGBY MANUFACTURING
Production Budget
April, May, and June 2015
	April	May	June	Total
Next month's budgeted sales (units)	19,500	21,700	22,500
Ratio of inventory to future sales	80%	80%	80%
Budgeted units sales for month		17,360	18,000
Beginning inventory (units)
Required units of available production	38,100	34,720	36,000
Beginning inventory (units)	18,000	15,600	17,360
Units to be produced	20,100	21,260	22,340	63,700

Same for this one. These numbers are correct but I am not sure about the rest. Thank you