q1

Blue Spruce Corporation is projecting a cash balance of $27.000 in its December 31, 2021, balance sheet. Blue Spruce's schedule of expected collections from customers for the first quarter of 2022 shows total collections of $183.000. The schedule of expected payments for direct materials for the first quarter of 2022 shows total payments of $44,000. Other information gathered for the first quarter of 2022 is as follows: sale of equipment $3,000; direct labour $64,000, manufacturing overhead $34,000; selling and administrative expenses $49,000; and purchase of securities $12,000. Blue Spruce wants to maintain a balance of at least $24.000 cash at the end of each quarter. Prepare a cash budget for the first quarter. Repayment Disbursements Direct materials Direct labour Collection from customers Total financing Borrowing Totai receipts Cash receipts Financing Ending cash balance Selling and administrative expenses Sale of equipment Collection of notes receivable Income tax expense Purchase of securities Manufacturing overhead Excess of cash reccipts over cash disbursements Total disbursements