please complete b1 utilizing the accounts provided answer correctly and in return i will give a thumbs up thank you
Martin Company expects to have a cash balance of $136,400 on January 1, 2020. Relevant monthly budget data for the first 2 months of 2020 are as follows: Collections from customers: January $248,200, February 5434.200. Payments for direct materials: January $156,900. February $239,900 Direct labor: January $91,300. February $135.900. Wages are paid in the month they are incurred. Manufacturing overhead: January $63,000, February $75,800. These costs include depreciation of $5.100 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $44,200, February $59,000. These costs are exclusive of depreciation. They are paid as incurred Sales of marketable securities in January are expected to realize $36,500 in cash. Martin Company has a line of credit at the focal bank that enables it to borrow up to $75 200. The company wants to maintain a minimum monthly cash balance of $59.000 - (a) Beginning Cash Balance > 136400 Add Receipts Collections from Customers 248200 Sale of Securities 36500 Total Receipts 284700 Total Available Cash 421100 Less vi Disbursements Direct Materials (156900) i Direct Labor (91300) i Manufacturing Overhead (57900) Selling and Administrative Expenses (44200) Total Disbursements (350300) i Excess (Deficiency of Available Cash over Cash Disbursements 70800 Financing Add: Borrowings 0 Repayments including interest 0 Ending Cash Balance 70800 alance $ 136.400 70.800 celts Customers 248,200 13.4.200 > > 36,500 284,700 434.200 421,100 505.000 bursements - 156.900 -239.900 -91.300 - 135.900 i Overhead -57.900 -70,700 inistrative Expenses -44,200 i 59.000 sents -350.300 i -505 500 of Available Cash over Cash Disbursements 70.800 (500) rrowings 0 59.500 payments including Interest > 0 $ 70.800 59.000 (61) Martin Company's chief financial officer feels that it is important to have data for the entire quarter especially since their financial forecasts indicate some difficult economic periods in the coming year. March information has been budgeted as follows: . Collections from customers: $375,400 Payments for direct materials: $206,200 Direct labor: Wages paid in March $117,300 Manufacturing overhead: $63,300. This includes the monthly depreciation of $5,100, Selling and administrative expenses: $50,800. This cost is exclusive of depreciation. Marketable securities of $48,400 can be sold if needed for additional cash. . . Prepare a cash budget for March assuming that the company does not sell the marketable securities, Martin Company Cash Budget For the Month Ending March 2020 $ Prepare a cash budget for March assuming that the company does not sell the marketable securities. Martin Company Cash Budget For the Month Ending March 2020 Beginning Cash Balance Borrowings Collections from Customers Direct Labor Direct Materials Disbursements Ending Cash Balance Excess (Deficiency) of Available Cash over Cash Disbursements Financing Manufacturing Overhead Receipts Repayments including interest Sale of Securities Selling and Administrative Expenses Total Available Cash Total Disbursements Total Receipts Less Add
