PB6. LO 7.3 Relevant data from the operating budget of The Framers are: Quarter 2 Sales Direct material purchases Direct labor Manufacturing overhead Selling and administration Depreciation included in selling and administration Quarter 1 $33,948 25,312 29,948 9,322 19,283 $76,482 26,423 24,328 10,299 19,238 950 800 Collections Cash payments Cash received: other Dividend 34,324 29,349 8,000 0 76,938 20.937 500 500 Other data: Capital assets were sold in quarter 1 and $8,000 was collected in quarter 1 and $500 collected Dividends of $500 will be paid in May The beginning cash balance was $50.000 and a required minimum cash balance is $10.000. Prepare a cash budget for the first two quarters of the year. PB6. LO 7.3 Relevant data from the operating budget of The Framers are: Quarter 2 Quarter 1 $33,948 25,312 29,948 9,322 19,283 $76,482 26,423 24,328 10,299 19,238 Sales Direct material purchases Direct labor Manufacturing overhead Selling and administration Depreciation (cluded in selling and administration Collections Cash payments Cash received: other Dividend 950 34,324 29,349 8,000 0 800 76,938 20,937 500 500 Other data: Capital assets were sold in quarter 1 and $8,000 was collected in quarter 1 and $500 collected in quarter 2. Dividends of $500 will be paid in May The beginning cash balance was $50,000 and a required minimum cash balance is $10,000. Prepare a cash budget for the first two quarters of the year