The treasurer of Unisyms Company has accumulated the following budget information for the first two months of the coming year: March April Sales. $450,000 March $520,000 April Manufacturing costs 290,000 march 350,000 April Selling and administrative expenses 41,400 March 46,400 April Capital additions 250,000 March --- April The company expects to sell about 35% of its merchandise for cash. Of sales on account, 80% are expected to be collected in full in the month of the sale and the remainder in the month following the sale. One-fourth of the manufacturing costs are expected to be paid in the month in which they are incurred and the other three-fourths in the following month. Depreciation, insurance, and property taxes represent $6,400 of the probable monthly selling and administrative expenses. Insurance is paid in February and a $40,000 installment on income taxes is expected to be paid in April. Of the remainder of the selling and administrative expenses, one-half are expected to be paid in the month in which they are incurred and the balance in the following month. Capital additions of $250,000 are expected to be paid in March. Current assets as of March 1 are composed of cash of $45,000 and accounts receivable of $51,000. Current liabilities as of March 1 are composed of accounts payable of $121,500 ($102,000 for materials purchases and $19,500 for operating expenses). Management desires to maintain a minimum cash balance of $20,000. Prepare a monthly cash budget for March and April. Collapse: Formatting Toolbar NormalHeading 1Heading 2Heading 3Heading 4Heading 5AddressFormatted 1234567 ArialArial BlackBook AntiquaCentury GothicComic SansCourier NewGaramondGeorgiaTahomaTimes New RomanVerdana Bold Italics Underline Strike through Subscript Superscript Align Left Align Center Align Right Direction left to right Direction right to left Numbering Bullets Indent Left Indent Right Expand: Utilities Toolbar