Total cash disbursements

cash excess (deficiency)

cash excess (needed)

the part where i got it wrong.

Your answer is partially correct. James Smith, Crane & John Fabricators' budget director, has received budget information from several managers and is preparing the company's cash budget. March Quarter January 476.200 February 559,860 Collections from sales 636,720 1,672,780 80,505 253.125 274,730 608,360 98.640 103,680 116,640 318.960 Payments for direct materials Payments for direct labor Payments for manufacturing overheads Payments for Selling & administrative expenses 78.490 78.980 80,240 237.710 111,400 116,440 123,160 351,000 In addition to the information he received from these managers, James knows the following: In addition to the information he received from these managers, James knows the following: . . Crane & John plans to have $32,400 in its cash account on January 1. Crane & John plans to purchase and pay cash for a piece of land in January at a cost of $85.000, Crane & John plans to make a cash purchase of equipment in March at a cost of $28.000. Crane & John's income taxes from last quarter totaling $26.400 will be paid in January Crane & John is required to maintain a minimum cash balarice of $50,000 in its account at First National Bank . Crane & John has negotiated with the First National Bank to provide a $175.000 line of credit that can be borrowed against in $1,000 increments on the first day of the month. Any repayments on the line of credit must also be made in 51.000 increments and are made on the last day of the month when cash is available. The annual interest rate on this line of credit is 6%. Any time a principal payment is made, allaccrued interest to date is repaid Prepare Crane & Hill's cash budget for the first quarter. (Round answers to decimal places.es: 5.275. Enter answers in necessary fields only. Leave other fields blank. Do not enter 0. Enter negative amounts using either a negative sign preceding the number 03.-45 or parentheses 43.145) 46F Le January February Beginning cash balance 32400 50165 Collections from sales 476200 559860 508600 610025 Total cash available to spend Less Disbursements 80505 253125 i Payments for direct materials 98640 103680 Direct labor 78490 78980 1 Manufacturing overhead 116440 111400 Selling & administrative expenses 46" Land and Equipment purchases 85000 Income taxes 26400 i Total cash disbursements 480435 552225 30165 58,800 Cash excess (deficiency) (50,000) (50,000) Minimum cash balance (19,835) 8,800 Cash excess (needed) Financing 22000 Borrowings -7000 i Repayments 46F 85000 28000 113000 26400 26400 1 480435 552225 628770 1661430 30165 58.800 58,550 46750 (50,000) (50,000) (50.000) (50.000) 8.550 (3.250) (19.835 8,800 22000 22000 -25000 -7000 - 14000 Oriole & Crane Fabricators produces commemorative bricks that organizations use for fundraising projects. Paul Oriole, the company's vice president of marketing, has prepared the following sales forecast for the first six months of the coming year. The company plans to sell the bricks for $24 each. March April May June January 25,000 February 28,000 32.000 34.000 26,000 35,000 Oriole & Hill Fabricators' marketing department has identified the following monthly expenses that will be needed to support the company's sales and administrative functions. Depreciation $14.000 Sales staff salaries $29,000 Advertising $2.300 Executive salaries $36.000 Advertising $2,300 Executive salaries $36,000 Miscellaneous $1,600 In addition to these monthly expenses, the company will pay a commission to its salespeople equal to 8% of the sales revenue from each brick sold. The company expects bad debt expense to be 2% of sales revenue. Prepare Oriole & Hill's selling and administrative expense budget for the first quarter of the coming year