Requirements 1. Prepare Vang Company's schedule of cash receipts from customers and schedule of cash payments for the first quarter of 2024. 2. Prepare Vang Company's cash budget for the first quarter of 2024. Vang Company has provided the following budget information for the first quarter of 2024: B (Click the icon to view the budget information.) Additional data related to the first quarter of 2024 for Vang Company: i (Click the icon to view the data.) Read the requirements. - X S S 212,000 40,750 36,500 Requirement 1. Prepare Vang Company's schedule of cash receipts from customers and schedule of cash payments for the first quarter of 2024. Begin by preparing the schedule of cash receipts from customers for the first quarter of 2024. Cash Receipts from Customers Data table First Quarter 2024 Total sales Total sales Budgeted purchases of direct materials Cash Receipts from Customers: Budgeted direct labor cost Accounts Receivable balance, December 31, 2023 Budgeted manufacturing overhead costs: 1st Qur-Sales Variable manufacturing overhead Total cash receipts from customers Depreciation Insurance and property taxes Accounts Receivable balance, March 31, 2024: Budgeted selling and administrative expenses: 1st Qtr. Sales, collected in 2nd Qtr. Salaries expense Rent expense Prepare the schedule of cash payments for the first quarter of 2024 Insurance expense Cash Payments Depreciation expense First Quarter Supplies expense 2024 1,075 1,100 6,833 7.000 1,000 1,300 550 8,480 Total direct materials purchases Cash Payments Direct Materials: Accounts Payable balance, December 31, 2023 Print Done Vang Company has provided the following budget information for the first quarter of 2024 (Click the icon to view the budget information.) Additional data related to the first quarter of 2024 for Vang Company: (Click the icon to view the data.) Read the requirements. 1st Qtr.Direct material purchases Total payments for direct materials - Data table Direct Labor: Total payments for direct labor $ 212,000 40.750 Manufacturing Overhead: 36.500 1,075 Total payments for manufacturing overhead 1.100 Total sales Budgeted purchases of direct materials Budgeted direct labor post Budgeted manufacturing overhead costs: Variable manufacturing overhead Depreciation Insurance and property taxes Budgeted selling and administrative expenses: Salaries exponse Rent expense Insurance expense Depreciation expense Supplies expense 6.833 Selling and Administrative Expenses: 7.000 1,000 1,300 550 Total payments for Selling and Admin. expenses 8.480 Income Taxes: Total payments for income taxes Print Done Capital Expenditures: Vang Company has provided the following budget information for the first quarter of 2024: (Click the icon to view the budget information.) Additional data related to the first quarter of 2024 for Vang Company: (Click the icon to view the data.) Read the requirements Total payments for capital expenditures Total cash payments Data table Accounts Payable balance, March 31, 2024 1st Qtr.Direct materials purchases, paid in 2nd Qtr. $ 212,000 40.750 36,500 Total sales Budgeted purchases of direct materials Budgeted direct labor cost Budgeted manufacturing overhead costs: Variable manufacturing overhead Depreciation 1.075 1.100 6.833 Requirement 2. Prepare Vang Company's cash budget for the first quarter of 2024. Review the schedule of cash receipts from customers you prepared in Requirement 1. Review the schedule of cash payments you prepared in Requirement 1. Vang Company Cash Budget For the Quarter Ended March 31, 2024 , Beginning cash balance Cash receipts Cash available Cash payments: Purchases of direct materials Direct labor Insurance and property taxes Budgeted selling and administrative expenses: Salaries expense Rent expense Insurance expenso Depreciation expense Supplies expense 7.000 1.000 1,300 550 8,480 Manufacturing overhead Selling and administrative expenses Income taxes Print Done Capital expenditures Total cash payments Requirements 1. Prepare Vang Company's schedule of cash receipts from customers and schedule of cash payments for the first quarter of 2024. 2. Prepare Vang Company's cash budget for the first quarter of 2024. Vang Company has provided the following budget information for the first quarter of 2024: B (Click the icon to view the budget information.) Additional data related to the first quarter of 2024 for Vang Company: i (Click the icon to view the data.) Read the requirements. - X S S 212,000 40,750 36,500 Requirement 1. Prepare Vang Company's schedule of cash receipts from customers and schedule of cash payments for the first quarter of 2024. Begin by preparing the schedule of cash receipts from customers for the first quarter of 2024. Cash Receipts from Customers Data table First Quarter 2024 Total sales Total sales Budgeted purchases of direct materials Cash Receipts from Customers: Budgeted direct labor cost Accounts Receivable balance, December 31, 2023 Budgeted manufacturing overhead costs: 1st Qur-Sales Variable manufacturing overhead Total cash receipts from customers Depreciation Insurance and property taxes Accounts Receivable balance, March 31, 2024: Budgeted selling and administrative expenses: 1st Qtr. Sales, collected in 2nd Qtr. Salaries expense Rent expense Prepare the schedule of cash payments for the first quarter of 2024 Insurance expense Cash Payments Depreciation expense First Quarter Supplies expense 2024 1,075 1,100 6,833 7.000 1,000 1,300 550 8,480 Total direct materials purchases Cash Payments Direct Materials: Accounts Payable balance, December 31, 2023 Print Done Vang Company has provided the following budget information for the first quarter of 2024 (Click the icon to view the budget information.) Additional data related to the first quarter of 2024 for Vang Company: (Click the icon to view the data.) Read the requirements. 1st Qtr.Direct material purchases Total payments for direct materials - Data table Direct Labor: Total payments for direct labor $ 212,000 40.750 Manufacturing Overhead: 36.500 1,075 Total payments for manufacturing overhead 1.100 Total sales Budgeted purchases of direct materials Budgeted direct labor post Budgeted manufacturing overhead costs: Variable manufacturing overhead Depreciation Insurance and property taxes Budgeted selling and administrative expenses: Salaries exponse Rent expense Insurance expense Depreciation expense Supplies expense 6.833 Selling and Administrative Expenses: 7.000 1,000 1,300 550 Total payments for Selling and Admin. expenses 8.480 Income Taxes: Total payments for income taxes Print Done Capital Expenditures: Vang Company has provided the following budget information for the first quarter of 2024: (Click the icon to view the budget information.) Additional data related to the first quarter of 2024 for Vang Company: (Click the icon to view the data.) Read the requirements Total payments for capital expenditures Total cash payments Data table Accounts Payable balance, March 31, 2024 1st Qtr.Direct materials purchases, paid in 2nd Qtr. $ 212,000 40.750 36,500 Total sales Budgeted purchases of direct materials Budgeted direct labor cost Budgeted manufacturing overhead costs: Variable manufacturing overhead Depreciation 1.075 1.100 6.833 Requirement 2. Prepare Vang Company's cash budget for the first quarter of 2024. Review the schedule of cash receipts from customers you prepared in Requirement 1. Review the schedule of cash payments you prepared in Requirement 1. Vang Company Cash Budget For the Quarter Ended March 31, 2024 , Beginning cash balance Cash receipts Cash available Cash payments: Purchases of direct materials Direct labor Insurance and property taxes Budgeted selling and administrative expenses: Salaries expense Rent expense Insurance expenso Depreciation expense Supplies expense 7.000 1.000 1,300 550 8,480 Manufacturing overhead Selling and administrative expenses Income taxes Print Done Capital expenditures Total cash payments
