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Deitz Corporation is projecting a cash balance of $33,150 in its December 31, 2016, balance sheet. Deitzs schedule of expected collections from customers for the first quarter of 2017 shows total collections of $204,425. The schedule of expected payments for direct materials for the first quarter of 2017 shows total payments of $47,515. Other information gathered for the first quarter of 2017 is sale of equipment $3,315; direct labor $77,350, manufacturing overhead $38,675, selling and administrative expenses $49,725; and purchase of securities $15,470. Deitz wants to maintain a balance of at least $27,625 cash at the end of each quarter.

Prepare a cash budget for the first quarter.

DEITZ CORPORATION Cash Budget