question:

Requirement 1. Prepare a cash budget for April for Pet Gear. Begin the cash budget by calculating the cash available, then total disbursements, and finally the effects of financing and the ending cash balance. (Round your answers to the nearest whole dollar. Enter "(" for repayment of loan if excess cash does not exceed $10,000 at the end of April) Cash Budget April 30 Cash balance, beginning $ Add receipts Cash sales Credit card sales Total cash available for needs Deduct disbursements Direct materials Direct manufacturing labor Manufacturing overhead Nonmanufacturing salaries Sales commissions Other operating fixed costs Machinery purchase Income taxes Total disbursements Cash excess (deficiency) Financing Repayment of loan Interest on loan Total effects of financing $ Ending cash balance, April 30X Reference Revenue Budget For the Month of April Units Selling price Total Revenues Cat-allac 530 205 5 108,650 82, 150 Dog-eriffic 285 310 - X More info Total 190,800 Manufacturing Overhead Budget For the Month of April Pet Luggage (PL) does not make any sales on credit. PL sells only to the public and accepts cash and credit cards; 00%% of its sales are to customers using credit cards, for which PL gets the cash right away, less a 4% Machine setup costs 3,715 transaction fee. Processing costs 108,000 - Purchases of materials are on account. PL pays for half the purchases in the period of the purchase and the 465 other half in the following period. At the end of March, PL owes suppliers $8,200. During April they plan to purchase Inspection costs direct materials worth 521,280 117,180 PL plans to replace a machine in April at a net cash cost of $13,900. Total Labor, other manufacturing costs, and (operating) nonmanufacturing costs are paid in cash in the month incurred Direct Manufacturing Labor Costs Budget except of course depreciation, which is not a cash flow. Depreciation is $23,500 of the manufacturing cost and $13,500 of the operating (nonmanufacturing) cost for April. For the Month of April . PL currently has a $2,200 loan at an annual interest rate of 12%%. The interest is paid at the end of each month. If Output units DMLH Total Hourly PL has more than $7,000 cash at the end of April it will pay back the loan. PL owes $5,300 in income taxes that need to be remitted in April. PL has cash of $5,900 on hand at the end of March. produced per unit Hours Wage Rate Total Cat-allac 550 3 1,850 $ 10 5 16,500 Dog-eriffic 250 5 1,250 10 2,500 Print Done Total S 29,000 Operating (nonmanufacturing) Costs Budget For the Month of April Salaries 18,300 Other fixed costs 18,000 Sales commissions 1,908 Total operating (nonmanufacturing) costs 30,208 Print Done