Quarter 1 $33.948 25,312 29,948 9,322 19,283 Quarter 2 $76,482 26,423 24,328 10,299 19,238 Sales Direct material purchases Direct labor Manufacturing overhead Selling and administration Depreciation included in selling and administration Collections Cash payments Cash received: other Dividend 950 34,324 29,349 8,000 800 76,938 20,937 500 500 Other data: Capital assets were sold in quarter 1 and $8,000 was collected in quarter 1 and $500 collected in quarter 2. Dividends of $500 will be paid in May. The beginning cash balance was $50,000 and a required minimum cash balance is $10,000. Prepare a cash budget for the first two quarters of the year