ork: Chapter 22 Homework Score: 0 of 20 pts 5 of 54 complete HW Score: 802 E22-28 (book/static) Marcel Company has prepared the following schedules and additional information (Click the icon to view the cash receipts schedule) (Click the icon to view the cash payments schedule) (Click the icon to view the additional information) Complete a cash budget for Marcel Company for January February and March (Complete all answer boxes. Enter for any zero balances. Round al amounts entered into the cash budget to the nearest whole dollar. Enter with a minus sign or parentheses.) QUE Marcel Company Cash Budget January, February, and March January Beginning cash balance Cash receipts Cash available Cash payments Purchases of direct materials Direct labor Manufacturing overhead Seling and administrative expenses Interest expense inter any number in the edit fields and then click Check Answer 1952.ACCT.2302.W30C Principles of Manageria (1) Homework: Chapter 22 Homework 5 of 5 (4 Score: 0 of 20 pts E22-28 (book/static) Marcel Company has prepared the following schedules and additional information: (Click the icon to view the cash receipts schedule.) (Click the icon to view the cash payments schedule.) Click the icon to view the additional information.) Complete a cash budget for Marcel Company for January, February and March. (Complete all answer boxes. Enter a "0" with a minus sign or parentheses.) Direct labor Manufacturing overhead Selling and administrative expenses Interest expense Total cash payments Ending cash balance before financing Minimum cash balance desired Projected cash excess (deficiency) Financing: Borrowing Principal repayments Total effects of financing Ending cash balance Enter any number in the edit fields and then click Check Answer. 3 parts remaining Clear 147750.pdf $ 20200708_092....pdf kyoScan--7--6....pdf ccc layerHomework.aspx?homeworkld=570209898&questionid=5&flushed=fals Reference 2020 Cash Receipts from Customers January February March Total $ 34,600 Total sales 11,200 $ 12,300 $ 11,100 $ January February March Total $ 6,720 2.240 $ 2.240 7,380 Cash Receipts from Customers: Accounts Receivable balance, January 1 January-Cash sales January-Credit sales, collection of January sales in January January-Credit sales, collection of January sales in February February-Cash sales February-Credit sales, collection of February sales in February February-Credit sales, collection of February sales in March MarchCash sales March-Credit sales, collection of March sales in March Total cash receipts from customers 2,460 2,460 6,660 2.220 11,340 $ 8.960 $ 12,080 $ 32,380 Accounts Receivable balance, March 31: MarchCredit sales, collection of March sales in April $ 2.220 8/6/2020 Reference January February March Total $ 0 Cash Payments Direct Materials: Accounts Payable balance, January 1 January-Direct material purchases paid in February February-Direct material purchases paid in March Total payments for direct materials $ 3,100 $ 3,500 3,500 $ 0 3,100 6,600 Direct Labor: Total payments for direct labor 3,300 3,500 3,600 10,400 650 650 1,300 Manufacturing Overhead: Utilities for plant Property taxes on plant Total payments for manufacturing overhead 2,400 2.400 3,700 2,400 650 650 250 250 500 Selling and Administrative Expenses: Utilities for office Property taxes on office Office salaries Total payments for Selling and Admin. expenses 2,040 2.040 3,500 3,500 10.500 3,500 3,750 5,540 3,750 13,040 $ 11,240 $ 11,000 $ 11,500 $ 33,740 Total cash payments Acccount balances, March 31: Prepaid Property Taxes Accounts Payable Utilities Payable $ 3,330 $ 4,800 $ 900 i More Info Marcel's beginning cash balance is $5,000 and Marcel desires to maintain a minimum ending cash balance of $5,000. Marcel borrows cash as needed at the beginning of each month in increments of $1,000 and repays the amounts borrowed in increments of $1,000 at the beginning of months when excess cash is available. The interest rate on amounts borrowed is 8% per year. Interest is paid at the beginning of the month on the outstanding balance from the previous month. Print Done