The Gavin Tire Co manufactures racing tires for bicycles. Gavin sells tires for $70 each. Gavin is planning for the next year by developing a master budget by quarters. Gavin's balance sheet for Dec 31, 2018, follows:

A. Prepare the Schedule of cash Payments and Cash budget:

	1st	2nd	3rd	4th	total
TOTAL Direct Mat purchases
	1	2	3	4	total
cash payments
direct materials:
Acc Pay bal, Dec 31,2018
1st qtr-qtr 1 direct material purchases paid in qtr 1
1st qtr- qtr 1 DMP paid in qtr 2
2nd Qtr - qtr 2 DMP in qtr 2
2nd qtr- qtr 2 DMP paid in qtr 3
3rd qtr- qtr 3 DMP paid in qtr 3
3rd qtr- qtr 3 DMP paid in qtr 4
4th Qtr- paid in qtr 4
TOTAL payments for DM
DIrect Labor
TOTAL payments for DL

ETC

B. Prepare Gavins annual financial budget for 2019, including budgeted income statement and budgeted balance sheet.

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