Score: 0 of 1 pt 11 of 15 (11 complete) HW Score: 55.43%, 9.42 of 17 pts S22-11 (similar to) 15 Question Help O Yordi has $11,500 in cash on hand on January 1 and has collected the following budget data: (Click on the icon to view the budget data) Assume direct labor costs and manufacturing overhead costs are paid in the month incurred. Additionally, assume Yordi has cash payments for selling and administrative expenses including salaries of $65,000 per month plus commissions that are 3% of sales, all paid in the month of sale. The company requires a minimum cash balance of $1,000. Prepare a cash budget for January and February. Round to the nearest dollar. Will Yordi need to borrow cash by the end of February? Begin by preparing the cash budget for January, then prepare the cash budget for February (Complete all input boxes. Enter a "0" for any zero balances. Round all amounts entered into the cash budget to the nearest whole dollar.) Yordi Company Cash Budget Two Months Ended January 31 and February 28 i Data Table January Beginning cash balance 11500 442,700 Cash receipts January February 454200 180.191 Cash available Cash payments: Purchases of direct materials Direct labor Manufacturing overhead Selling and administrative expenses Sales Cash receipts from customers Cash payments for direct materials purchases Direct labor costs Manufacturing overhead costs (includes depreciation of $1,700 per month) 534,000 $ 442,700 180,191 135,010 569,000 502,500 160,752 112,626 135 010 55,994 53,782 Total cash payments Ending cash balance before financing Print Done Enter any number in the edit fields and then click Check Answer. parts 2 remaining Clear All Check Answer S22-11 (similar to) Question Help Yordi has $11,500 in cash on hand on January 1 and has collected the following budget data: (Click on the icon to view the budget data) Assume direct labor costs and manufacturing overhead costs are paid in the month incurred. Additionally, assume Yordi has cash payments for selling and administrative expenses including salaries of $65,000 per month plus commissions that are 3% of sales, all paid in the month of sale. The company requires a minimum cash balance of $1,000. Prepare a cash budget for January and February. Round to the nearest dollar. Will Yordi need to borrow cash by the end of February? 4542001 180.191 Cash available Cash payments: Purchases of direct materials Direct labor Manufacturing overhead Selling and administrative expenses A Data Table Total cash payments Ending cash balance before financing Minimum cash balance desired Projected cash excess (deficiency) Financing: Borrowing Sales Cash receipts from customers Cash payments for direct materials purchases Direct labor costs Manufacturing overhead costs (includes depreciation of $1,700 per month) January 534,000 S 442,700 180,191 135,010 February 569,000 502,500 160,752 112,626 Principal repayments 55,994 53,782 Total effects of financing Ending cash balance Print Done Enter any number in the edit fields and then click Check Answer 2 parts remaining Clear All Check
