View Policies Current Attempt in Progress Crane Corporation is projecting a cash balance of $33,900 in its December 31, 2019. balance sheet.Crane's schedule of expected collections from customers for the first quarter of 2020 shows total collections of $209,050. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $48,590. Other information gathered for the first quarter of 2020 is sale of equipment $3.390, direct labor $79.100, manufacturing overhead $39,550, selling and administrative expenses $50.850; and purchase of securities $15,820. Crane wants to maintain a balance of at least $28.250 cash at the end of each quarter. Prepare a cash budget for the first quarter, CRANE CORPORATION Cash Budget $ Question 5 of 6 ./3 !!! CRANE CORPORATION Cash Budget Question 5 of 6 -13 : Question 5 of 6 > -/3 E 1 eTextbook and Media