Wilson Inc. budgeted for fixed selling and administrative expenses below. The variable selling and administrative rate based on budgeted units is $11/hour.

• Please prepare the Selling and Administrative Expense Budget.

  The beginning cash balance has been provided and equipment purchases and dividends has been provided.

• Please prepare the cash budget.

• Cash Budget
  For the Year Ended December 31, 2019
  	Q1	Q2	Q3	Q4
  Cash balance, beginning	$42,500
  Add Receipts:
  Collection from customers
  Total Cash available before current financing
  Deduct disbursements
  Direct materials
  Direct labour
  Manufacturing overhead
  Selling and administrative
  Equipment purchases	60,000	50,000	10,000	20,000
  Dividends	500	500	500	500
  Total Disbursements
  Excess (deficiency) of cash available over disbursements

Fixed selling and administrative expenses based on units sold:
Advertising	$3,000
Executive Salaries	850
Q2 Insurance	100
Q3 Insurance	2,000
Q4 Property taxes	4,300
Depreciation	10,000