request answer

Cash Budget Preparing the Financial Budgets Ilustration Hayes Company Assumptions 1. The January 1,2014, cash balance is expected to be $38,000. Hayes Illustration Hayes Company Assumptions 4. Direct materials alustration 9-7): 50% are paid in the quarter wishes to maintain a balance of at least $15,000. Sales (Illustration 9-3): 60% are collected in the quarter sold and 40% are collected in the following quarter. Accounts receivable of $60,000 at December 31,2013, are expected to be collocted in full in the first quarter of 2014. Short-term investments are expected to be sold for $2,000 cash in the first quarter purchased and 50% are paid in the following quarter. Accounts payable of $10,600 at December 31,2013, are expected to be paid in full in the first quarter of 2014 2. 5. Direct labor (illustration 9-9): 100% is paid in the quarter incurred. 6. Manufacturing overhead (ilustration 9-10) and selling and xxc xxm 3. administrative expenses (llustration 9-11): All items except depreciation are paid in the quarter incurred Management plans to purchase a truck in the second quarter for $10,000 cash. Continuecd 7. Of a cash bo