Must show all work (how was the amounts found)

Fine Furniture Co. manufactures wooden Tables, Chairs, and Bookshelves. Management is preparing the budgets for June, and has accumulated the following information Tables roduct Information Revenue Chairs Bookshelves 2,000 2,500 $250 3,000 5,000 S50 Expected June sales in units Expected July sales in units Selling Price per unit 10,000 12,000 $40 Variable Overhead per Direct Labor hour Direct Labors per unit (at a rate of $8/hour) Direct Materials (feet of lumber per unit $2 10 $2 $2 0.50/foot) 40 15 25 Sales Commission (% of sales dollars) Shipping costs per unit 2% 2% S5 2% $3 Other budgeted information S5,000 $7,000 3,000 $6,000 Factory Rent Supervisor Salary Insurance Factory Equipment Depreciation Office Rent Administrative Salaries Property Taxes Office Equipment Depreciation $2,000 12,000 3,000 $1,000 Fine Furniture generally collects 75% of their Accounts Receivable in the period of sale, and the remainder in the period following. The beginning Cash balance for June is $400,000. The beginning balance in A/R for June is $250,000 The company purchases materials as needed in production and does not carry materials in inventory. It pays its supplier 60% of the cost of purchases in the period bought, and the remainder in the period following All wages, manufacturing costs and selling and administrative costs are paid in the period in which they are incurred During the month, management sold equipment for scrap for $4,000, and used the proceeds to help fund the purchase of new equipment for $20,000 What is the budgeted Cash balance for the end of June