Vaughn Corporation is projecting a cash balance of $29,000 in its December 31,2021 , balance sheet. Vaughn's schedule of expected collections from customers for the first quarter of 2022 shows total collections of $181,000. The schedule of expected payments for direct materials for the first quarter of 2022 shows total payments of $40,000. Other information gathered for the first quarter of 2022 is as follows: sale of equipment $2,000; direct labour $69,000, manufacturing overhead $39,000; selling and administrative expenses $44,000; and purchase of securities $14,000. Vaughn wants to maintain a balance of at least $28,000 cash at the end of each quarter. Prepare a cash budget for the first quarter. Activate W Go to Settings