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PLEASE FILL IN ACTUAL BLANKS OR MAKE VERY CLEAR! TY!!! Exercise 23-15 Deitz Corporation is projecting a cash balance of $37,170 in its December 31,
PLEASE FILL IN ACTUAL BLANKS OR MAKE VERY CLEAR! TY!!!
Exercise 23-15 Deitz Corporation is projecting a cash balance of $37,170 in its December 31, 2016, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2017 shows total collections of $229,215. The schedule of expected payments for direct materials for the first quarter of 2017 shows total payments of $53,277 Other information gathered for the first quarter of 2017 is sale of equipment $3,717; direct labor $86,730, manufacturing overhead $43,365, selling and administrative expenses $55,755; and purchase of securities $17,346. Deitz wants to maintain a balance of at least $30,975 cash at the end of each quarter. Prepare a cash budget for the first quarter. (Do not leave any answer field blank. Enter 0 for amounts.)Step by Step Solution
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