Question 9

Please show how you got all of your numbers so I understand how to do the problem!

Deitz Corporation is projecting a cash balance of $35,400 in its December 31, 2019, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2020 shows total collections of $218,300. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $50,740. Other information gathered for the first quarter of 2020 is sale of equipment $3,540; direct labor $82,600, manufacturing overhead $41,300, selling and administrative expenses $53,100; and purchase of securities $16,520. Deitz wants to maintain a balance of at least $29,500 cash at the end of each quarter. Prepare a cash budget for the first quarter. DEITZ CORPORATION Cash Budget