Reference problem:https://www.chegg.com/homework-help/questions-and-answers/accountant-wesleyan-technology-company-wtc-fall-2020-boss-controller-asked-take-another-pa-q50463098

You are the accountant at Wesleyan Technology Company (WTC) in the Fall of 2020.

Budgeted Sales (in units) July August September October November 40,000 45,000 60,000 35,000 20,000 Per Unit Selling Price - $12.00 Cash Collections WTC sales are all on account with the following pattern of collection is: 65% Collected in the month of the sale 30% Collected in the month following the sale 5% Uncollectible June's sales were $360,000 Production Budget Ending inventory is to be equal to 15% of the following month's budgeted sales. Direct Materials 10 pounds of material is required per unit of product 10% of the following month's production for Materials on hand at month end $0.25 cost per pound of material Cash Disbursement for Materials WTC paid for purchases as follows: 55% is paid in the month the materials are purchased 45% is paid in the following month June 30 Accounts Payable balance of $33,187.50 is to be paid in full in July. Direct Labor Part of an hour of direct labor to produce one unit of product 0.1 ( or 6 minutes) WTC has a "no layoff" policy so all employees are paid for 40 hours of work each week The hourly rate per hour for regular time employees $15 The minimum number of hours to be paid each month 3,000 Manufacturing Overhead Manufacturing overhead is applied to units of product based on direct labor hours The viable overhead rate per direct hour $25 Fixed Manufacturing Overhead per month $75,000 Non-cash costs included in Fixed Manaufacturing Overhead $25,000 Selling and Administrative Expenses WTC has both fixed and variable selling and administrative expenses Rate per unit for Variable Selling and Administrative expenses $0.25 Fixed Selling and Administrative expenses per month $75,000 Non-cash costs included in Fixed Selling and Administrative expenses $15,000 Cash Budget Maintain a minimum month end cash balance of $40,000 Maintains a 15% open line of credit for $125,000 Borrowing happens on the first day of the month Repayments are made on the last day of the month Cash dividend paid in August $60,000 Equipment purchases made in Q3 2021 Equipment purchased with cash in July $55,000 Equipment purchased with cash in September $150,000 June 30 ending cash balance was $40,000 Budgeted Financial Staments WTC Balance Sheet as of June 30 showed the following balances: Accounts Receivable $137,627.00 Equipment $195,000.00 Land $50,000.00 Common Stock $300,000.00 Retained Earnings $240,567.00

Construct Cash Budget
	Quarter 3, 2021
	July	August	September	Total
Beginning Cash Balance
Add: Cash collections
Total cash available
Less: Cash disbursements
Materials
Direct labor
Manufacturing O/H
Selling and Admin
Equipment purchase
Dividend
Total disbursements
Excess (Deficiency)
Financing:
Borrowing (inflow)
Repayments (outflow)
Interest (outflow)
Total financing
Ending Cash Balance