Please help answer this question: Produce a cash budget showing the expected cash balance at the end of each quarter. ( 15 marks )

The following information will help:

Case: Crawley Tyre Company manufactures plastic tyres for automated cleaning machines It is completing its financial plans for 2021 and needs assistance with the budgeting phase. You are provided with the following information that could be useful in preparing the necessary budgets and schedules for 2022. Crawley Tyre Company Statement of Financial Position December 31 st 2021 Current Assets Cash $ 200,000 Accounts receivable ( net ) 294,000 $ 494,000 Plant, Property & Equipment Land $ 100,500 Building & Equipment $ 350,000 Less Accumulated depreciation ( 118,000 ) $ 232,000 $ 332,500 Total Assets $ 826,500 Liabilities & Shareholders Equity Current Liabilities Accounts Payable $ 132,000 Shareholder's Equity Share Capital $ 400,000 Retained Earnings 294,500 $ 694,500 Total $ 826,500Sales Forecast Quarter Sales ( Units) 15,000 16,000 18,000 Sale ( $ 30.00 each) $ 450,000 $ 480,000 $ 540,000 All sales are on credit and are collected 30% in the sale quarter, and 70% in the following quarter. The company will have NO inventories at the beginning of the year in 2022. Management desires 5,000, 6,000 and 7,000 kgs of unmoulded plastic at the end of each quarter. Each wheel takes 2 kgs of plastic, including waste trimmings. Crawley Tyre should have 2,000, 2,500 and 3,000 wheel rims in stock at the end of each quarter. Finished inventory should total 1,000, 1,500 and 2,000 wheels at the end of each quarter. Manufacturing requirements per wheel are as follows: Wacmwun Variable factory overhead is applied at a rate of $3.00 per direct labour hour for each nished unit. Fixed factory overhead is $170,000 per quarter, including non-cash expenditures of $54,000, and is allocated on the total number of units completed. Direct labour charges are $20.00 per hour. Additional Information: 0 Purchases of direct materials are paid for in the quarter acquired, direct labour costs are paid for in the quarter incurred. 0 Overhead expenses are paid in the next quarter 0 The accounts payable on the balance sheet is for overhead expenses from the last quarter 2021. 0 Selling and Administrative expenses are paid quarterly and total $40,000, including $10,000 of depreciation. Q1 Q1 Q3 Q1 Q2 PLASTTC Production Requirement 16000 16500 Units Produced 16000 16500 Production Requirement 16000 16500 Direct Labour Hours 0.5 0.5 . Direct Materials ($) 128000 132000 Plastic/unit (kg) 2 2 Budgeted Hours 8000 8250 Direct Labour (5) 160000 165000 Units for Production 32000 33000 Direct Labour Charges 20 20 Total Manufacturing Overhead (5) 194000 194750 Less: Estimated Beginning Inventory 0 5000 Budget 160000 165000 Total Manufacturinng Cost (5) 482000 491750 Total 3 2000 28000 Manufacturing Cost/Unit (S) 30.1 3 29.80 Add: Estimated Ending Inventory 5000 6000 Total to be Purchased (kg) 3 7000 34000 Plastic Purchased (S) 1 1 1.000 1.02000 RIMS Manufacturing Overhead Budget Production Requirement 16000 16500 01 [1,2 113 Plastic/unit (kg) 1. 1 Variable Manufacturing Ovi 24000 24750 Units for Production 16000 16500 Fixed Manufacturing Overh 170000 170000 Less: Estimated Beginning Inventory 0 2000 Total Manufacturing Overhl 194000 194750 Total 16000 14500 Add: Estimated Ending Inventory 2000 2500 Total to be Purchased (kg) 18000 17000 Rims Purchued (5) 36000 34000 Total Materials Purchased 1.47000 1.36000 Plastic Estimated Opening Inventory (5) 0 1.5000 Rims Estimated Opening Inventory (5) 0 4000 Total Estimated Opening Inventory (3) 0 19000 Estimated Plastic Used (5) 1 1 1000 102000 Estimated Rims Used (5) 36000 34000 Estimated Total Material Used (5) 147000 135000 Less: Plastic Ending inventory (3) 1 5000 13000 Less: Rims Ending Inventory ($) 4000 5000 Less: Total Ending inventory (3) 19000 23000 Total Materials Used for Production ($) 128000 132000