required:

The controller of Ultramint Company wishes to improve the company scontrol system by preparing a monthly cash budget. The following information relates to the month ending July 31, 2008. June 30, 2008 cash balance. ... $ 90,000 Dividends to be declared on July 15* 24,000 Cash expenditures to be paid in July for operating expenses 73,600 Amortization expense..... 9,000 Cash collections to be received .. 178,000 Merchandise purchases to be paid in cash 112,400 Equipment to be purchased for cash. 41,000 Ulramint Company wishes to maintain a minimum cash balance of 50,000 *Dividends are payable to shareholders of record on declaration date, 30 days after declaration. a Required: Prepare a cash budget for the month ended July 31, 2008, indicating how much, if anything, Ultramint will need to borrow to meet its minimum cash requirement. The Marketing Department of Gaeber Industries has submitted the following sales forecast for the upcoming fiscal year. 1* Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted sales (units)...... 8,000 7,000 6,000 7,000 The company expects to start the first quarter with 1,600 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 20% of the next quarter's budgeted sales. The desired ending finished goods inventory for the fourth quarter is 1,700 units. In addition, the beginning raw materials inventory for the first quarter is budgeted to be 3,120 kilograms and the beginning accounts payable for the first quarter is budgeted to be $14,820. Each unit requires two kilograms of raw material that costs $4 per kilogram. Management desires to end each quarter with an inventory of raw materials equal to 20% of the following quarter's production needs. The desired ending inventory for the fourth quarter is 3,140 kilograms. Management plans to pay for 75% of raw material purchases in the quarter acquired and 25% in the following quarter. Required: 1. Prepare the company's production budget for the upcoming fiscal year. 2. Prepare the company's direct materials budget and schedule of expected cash disbursements for materials for the upcoming fiscal year