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Relevant data from the Poster Company's operating budgets are: Quarter 1 Quarter 2 Sales $208,460 $211,538 115,290 120,832 Direct material purchases Direct labor 75,205 73,300
Relevant data from the Poster Company's operating budgets are: Quarter 1 Quarter 2 Sales $208,460 $211,538 115,290 120,832 Direct material purchases Direct labor 75,205 73,300 Manufacturing overhead 25,200 25,400 Selling and administrative expenses 33,400 33,600 Depreciation included in selling and administrative 1,500 900 Collections from customers 215,393 240,155 Cash payments for purchases 114,295 119,252 Additional data: Capital assets were sold in January for $11,000 and $4,400 in May. Dividends of $4,500 were paid in February. The beginning cash balance was $60,358 and a required minimum cash balance is $60,000. Use this information to prepare a cash budget for the first two quarters of the year: If an amount box does not require an entry, leave it The Poster Company Cash Budget For the First Two Quarters Quarter 1 Quarter 2 Add: Cash Receipts Total Receipts 44 Total Available Cash Less: Cash Payments Total Cash Payments Excess (Deficiency) of Available Cash Over Cash Disbursements Financing buldu. 10) W11000 100 Ending cash balance
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