Prepare a cash budget for the first quarter

urrent Attempt in Progress Crane Corporation is projecting a cash balance of $37,800 in its December 31,2021 , balance sheet. Crane's schedule of expected collections from customers for the first quarter of 2022 shows total collections of $233,100. The schedule of expected payments for direct materials for the first quarter of 2022 shows total payments of $54,180. Other information gathered for the first quarter of 2022 is sale of equipment $3,780; direct labor $88,200, manufacturing overhead $44,100, selling and administrative expenses $56,700; and purchase of securities $17,640. Crane wants to maintain a balance of at. least $31,500 cash at the end of each quarter. CRANE CORPORATION Cash Budget Sale of Equipment Borrowings Direct Labor Financing Repayments Beginning Cash Balance Selling and Administrative Expenses Manufacturing Overhead Total Receipts Direct Materials Receipts Excess of Available Cash Over Cash Disbursements Collections from Customers Total Available Cash Disbursements Total Disbursements Ending Cash Balance Purchase of Securities