P1 Cash disbursements schedule. Maris Brothers Inc. needs a cash disbursement schedule for the months of April, May, and June. Use the format of the Table below. 9 10 11 12 13. 14 15 16 17 18 19 20 21 22 23 Sales: February = $500,000; March = $500,000; April = $560,000; May = $610,000; June = $650,000; July = $650,000 E Purchases: Purchases are calculated as 60% of the next month's sales, 10% of purchases are made in cash, 50% of purchases are paid for 1 month after purchase, and the remaining 40% of purchases are paid for 2 months after purchase. Rent: The firm pays rent of $8,000 per month. Wages and salaries: Base wage and salary costs are fixed at $6,000 per month plus a variable cost of 7% of the current month's sales. Taxes: A tax payment of $54,500 is due in June. Fixed asset outlays: New equipment costing $75,000 will be bought and paid for in April. Interest payments: An interest payment of $30,000 is due in June. 24 25 26 Answer-fill in the blue boxes below. 27 28 29 30 Sales 31 Purchases (0.60 x sales) 32 Cash purchases (0.10) 33 Payments of A/P: 34 35 A Schedule of Projected Cash disbursements for Maris Brothers Inc. February March $500,000 May June $610,000 $650,000 Lagged 1 month (0.50) Lagged 2 months (0.40) 36 Rent payments 37 Wages and salaries 38 Fixed 39 Variable 40 Tax payments 41 Fixed-asset outlays 42 Interest payments 43 Cash dividend payments 44 Principal payments 45 Total cash disbursements $500,000 April $560,000 $8,000 $6,000 $0 $75,000 $0 $12,500 $0 $8,000 $6,000 $0 $0 $0 $0 $0 ANTE $8,000 $6,000 $54,500 $0 $30,000 $0 $0 July $650,000