Marcel Company projects the following sales for the first three months of the year: $11,200 in January; $12,300 in February; and $11,100 in March. The company expects 60% of the sales to be cash and the remainder on account. Sales on account are collected 50% in the month of the sale and 50% in the following month. The Accounts Receivable account has a zero balance on January 1. Round to the nearest dollar.

Marcel Company has the following projected costs for manufacturing and selling and administrative expenses. All costs are paid in month incurred except direct materials, which are paid in the month following the purchase, and property taxes, which are prepaid for the entire year on January 2. The Accounts Payable balance has a zero balance on January 1:

Direct Materials purchases: $3,100 in January; $3,500 in February; and $4,800 in March.

Direct Labor costs: $3,300 in January; $3,500 in February; and $3,600 in March.

Other Manuafacturing expenses: $550 in January; $1,200 in February; and $1,200 in March. The amounts include $550 of depreciation per month.

Selling and Admin expenses: $3,500 in January; $3,750 in February; and $3,750 in March.

Property Taxes: $370 per month

Additional information: Marcels beginning cash balance is $6,000, and Marcel desires to maintain a minimum cash balance of $5,000

Numbers File Edit Insert Table Organize Format Arrange View Share Window Help *99% E , Tue Nov 65:17 PM Gustavo Cabrera Q ll Untitled 2Edited | 75% Zoom Add Category Insert Table Chart Text Shape Media Comment Collaborate Format Organize Sheetl Table Cell xt Arrange O) A B C direct materials, which are paid in the month following the purchase, and property taxes, which ane prepaid for the cxire ycar on January 2. The Accounts Payable balance has a zero balance on January : Direct Materials purchascs: S3,100 in Janury: $3,500 in Fbruary: and $4,800 in March Direct Labor costs: $3,300 in Januiry: $3,500 in Fcbruary: and $3,600 in March Other Mansafacturing expenses 3550 in January: S1,200 in Febnuary; and 31,200 in March. The aounts include $350 of depre ation per mont Selling and Admin expenses: $3,500 in January:3,70 in February, and $3,750 in March Property Taxes: 5370 per month Table Styles Adklitional information: Mareel's beginning cash balance is $6,000, and Marcel desires to aintain a minimum cash balance of S5,000 13 Marcel Company Cash Budget Headers & Footer 15 16 17 18 19 20 21 For the Three Months March 31 Table Name Estimated cash racoipts from Cash sales 12300 11.100 Collectiorns from accounts receivable Table Font Size Total cash recepts Estimated cash payments for: 23 24 25 26 27 28 29 Purchases of direct materials Direct labor Other manufacturing costs Selling and Admin Propery taxes Table Outline 1pt expansas 1-1 Outline table name Total cash payments Cash increase (decrease) Gridlines Cash balance at baginning of month Cash balance at end of moth Mnimum cash balance Excess (deficiency) 31 32 Alternating Row Color 34 35 Row& Column Size Text 6