Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest payments) for the first three months of next year. 1.16 points Cash Receipts Cash payments February 8 02:57:52 March 469 , 000 524 , 000 Skipped Kayak requires a minimum cash balance of $50,000 at each month-end. Loans taken to meet this requ charge 1%, interest per month, paid at each month-end. The interest is computed based on the beginning balance of the loan for the month. Any preliminary cash balance above $50,000 is used to repay loan to repay loans at month-end . The company has a cash balance of $50,000 and a loan balance of $100,000 at January 1. Prepare monthly cash budgets for January, February, and March. (Negative balances and Loan repayment amounts ( if any) should be indicated with minus sign.) KAYAK COMPANY Cash Budget January February March Beginning cash balance $ 50.000 Total cash available Total cash payments Preliminary cash balance Loan activity Ending cash balance Loan balance Loan balance - Beginning of month $ 100.000 Additional loan ( loan repayment ) Loan balance, end of month Check my work 2 Zisk Company purchases direct materials on credit. Budgeted purchases are April, $92,000; May, $122,000; and 4000. Cash payments for purchase purchase. Purchases for March are $82,000. for purchases are: 70% in the month of purchase and 30% in the first month after 4.2 Prepare a schedule of cash payments for direct materials for April, May, and June. 8 02:57:35 ZISK COMPANY Schedule of Cash Payments for Direct Materials April May Materials purchases Cash payments for: Total cash payments 3 asper Company has 59% of its sales on credit and 41% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $522,000 for April, $532,000 for May, and $557,000 for points Prepare a schedule of cash receipts from sales for April, May, and June 8 02:57:2 JASPER COMPANY Schedule of Cash Receipts from Sales April May June Sales 522,000 532,000 557,000 Cash receipts from : Total cash receipts 4 Electro Company manufactures transmissions for electric cars. Management reports ending finished goods inventory for the first quarter at 86,400 units. The following unit sales are budgeted during the rest of the year: second quarter, 216,000 units; third quarter, 216,000 units; and fourth quarter, 432,500 units. Company policy calls 1.16 finished goods inventory of a quarter to equal 40% of the next quarter's budgeted unit sales. point 8 02:57:10 Prepare a production budget for both the second and third quarters that shows the number of transmissions to ELECTRO COMPANY Production Budget Second Quarter Third Quarter Next period budgeted sales units Desired ending inventory units Total required units Units to produce