Required information

[The following information applies to the questions displayed below.] Built-Tight is preparing its master budget for the quarter ended September 30, 2017. Budgeted sales and cash payments for product costs for the quarter follow:

	July			August			September
Budgeted sales	$	63,500		$	79,500		$	48,500
Budgeted cash payments for
Direct materials		16,260			13,540			13,860
Direct labor		4,140			3,460			3,540
Factory overhead		20,300			16,900			17,300

Sales are 25% cash and 75% on credit. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $15,000 in cash; $45,100 in accounts receivable; $4,600 in accounts payable; and a $5,100 balance in loans payable. A minimum cash balance of $15,000 is required. Loans are obtained at the end of any month when a cash shortage occurs. Interest is 1% per month based on the beginning-of-the-month loan balance and is paid at each month-end. If an excess balance of cash exists, loans are repaid at the end of the month. Operating expenses are paid in the month incurred and consist of sales commissions (10% of sales), office salaries ($4,100 per month), and rent ($6,600 per month).

Requlred information [The following information applies to the questions displayed below Bult-Tight is preparing its master budget for the quarter ended September 30, 2017 Budgeted sales and c for product costs for the quarter follow Budgeted sales Budgeted cash paythents for $63,580 $79,580 $ 48,589 Direct materials Direct labor Factory overtead 16,268 13,548 13, 860 4,148 3,463, 548 28,3e0 16,9e017, 3e0 Sales are 25% cash and 75% on credit. All credit sales are collected in the month following the sale. The Jun sheot includes balances of $15.000 in cash: $45,.100 in accounts recovable: $4,600 in accounts payable anc balance in loans payable. A minlmum cash balance of $15.000 Is required Loans are obtalned at the end of a when a cash shortage occurs. Interest is 1% per month based on thebeginning-0dhemorth ian blance each month-end. If an excess balance of cash exists, loans are repald at the end of the month. Operating exp ped in the month Incurred and consist of sales commissions no% of sales), omice salanes ($400 per month ($6,600 per month) (t) Prepare a cash receipts budget for July. August and Septembor. Cash Receipts Budget For July. August and Sepbeenber Less ending accounts receivabie Cash receigts trom Totai cash neceipts Prex 18 maget..pg at here to search