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!!!PLEASE GIVE ME THE ANSWERS TO BOTH OF THESE 2 DIFFERENT QUESTIONS - THANKS AGAIN FOR BEING AWESOME - MAKE SURE ANSWER IS NEAT AND EASY TO INPUT

Exercise 07-23 Manufacturing: Cash budget LO P2 Mike's Motors Corp. manufactures motors for dirt bikes. The company requires a minimum $30,000 cash balance at each month-end. If necessary, the company borrows to meet this requirement, at a cost of 3% interest per month (paid at the end of each month). Any cash balance above $30,000 at month-end is used to repay loans. The cash balance on July 1 is $25,000, and the company has no outstanding loans at that time. Forecasted cash receipts and forecasted cash payments (other than for loan activity) are as follows. July August September Cash Receipts $ 76,000 102,000 141,000 Cash Payments $104,000 90,900 118,400 Prepare a cash budget for July, August, and September. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.) MIKE'S MOTORS CORP. Cash Budget For July, August, and September July August September Beginning cash balance $ 25,000 $ 30,000 $ 30,000 Cash receipts 76,000 102,000 141,000 Total cash available 101.000 132,000 171,000 Cash payments (104,000) (90,900) (118,400) Interest expense 0 Preliminary cash balance (3,000) 41,100 52,600 Additional loan (loan repayment) Ending cash balance $ (3,000) $ 41,100 $ 52.600 Loan balance S 0 $ 0 Loan balance, Month-end $ 0 $ 0 $ 0 Serial Problem Business Solutions LO P1 Business Solutions's second-quarter 2020 fixed budget performance report for its computer furniture operations follows. The $173,080 budgeted expenses include $109,600 in variable expenses for desks and $24,480 in variable expenses for chairs, as well as $39,000 fixed expenses. The actual expenses include $40,100 fixed expenses. List fixed and variable expenses separately. Desk sales (in units) Chair sales (in units) Desk sales Chair sales Total expenses Income from operations Fixed Budget 137 72 $ 173,990 37,440 173,080 $ 38,350 Actual Results Variances 143 80 $180, 180 $6,190 F 42,800 5,360 F 182,010 8,930 V $ 40,970 $ 2,620 F Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. BUSINESS SOLUTIONS Flexible Budget Performance Report For Quarter Ended June 30 Flexible Budget Actual Results Variance $ 180, 180 42,800 Fav./Unf. Desk sales Chair sales Variable expenses Contribution margin Fixed expenses Income from operations