Please dont forget the other parts. Thanks so much!
4 of 4 (0 complete) Score: 0 of 4 pts Complete a cash budget for Marcel Company for January February and March. (Complete with a minus sign or parentheses.) HW Score: 0%, 0 of 10 pts Total h deficiency 34,600 Total January February March $ 11,200 $ 12,300 $ 11,100 $ January February March Total sales $ 6,720 2.240 $ Cash Receipts from Customers: Accounts Receivable balance, January 1 January-Cash sales JanuaryCredit sales, collection of January sales in January JanuaryCredit sales, collection of January sales in February February-Cash sales FebruaryCredit sales, collection of February sales in February February-Credit sales, collection of February sales in March March-Cash sales March-Credit sales, collection of March sales in March Total cash receipts from customers 2,240 7,380 2,480 $ 2,460 6,660 2,220 11,340 $ $ 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 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 8,960 $ 12,080 $ 32.380 Accounts Receivable balance, March 31: March-Credit sales, collection of March sales in April S 2,220 Reference - X January February March Total 0 Cash Payments Direct Materials: Accounts Payable balance, January 1 Ti material purchases paid in February - X ct material purchases paid in March s for direct materials S 3,100 More Info S 3,500 3.500 5 0 3.100 6,600 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. s for direct labor 3,300 3,500 3,600 10,400 Overhead: 650 650 Print Done on plant Total payments for manufacturing overhead 2.400 2.400 1,300 2,400 3,700 650 650 250 250 Selling and Administrative Expenses: Utilities for office Property taxes on office Office salaries Total payments for Selling and Admin. expenses 2,040 3.500 5,540 500 2,040 10.500 13,040 3,500 3.750 3,500 3.750 S 11,240S 11,000S 11,500 S 33,740 Enter any number in the edit fields and then click Check Answer. parts 3 remaining Total cash payments Acccount balances, March 31: Prepaid Property Taxes Accounts Payable Utilities Payable Check Answer S S 3,330 4,800 900 S Print Done
