Yogi has $15,500 in cash on hand on January 1 and has collected the foliowing budget data: (Click on the icon to view the budget data.) Assume direct labor costs and manufacturing overhead costs are paid in the month incurred. Additionally, assume Yogi has cash payments for selling and administrative expenses including salaries of $55,000 per month plus commissions that are 2% of sales, all paid in the month of sale. The company requires a minimum cash balance of $10,000. Prepare a cash budget for January and February. Round to the nearest dollar. Will Yogi need to borrow cash by the end of February? Begin by preparing the cash budget for January, then prepare the cash budpet for Fobruary. (Complete all input fiolds. Enter a "0" for any zero balances. Round all amounts entered into the cash budget to the nearest wholo dollar.) Begin by preparing the cash budget for January, then prepare the cash budget for Fobruary. (Comploto all input fields. Enter a " 0 " for any zero balances. Round all amounts ontered into the cash budget to the nearest whole dollar.) Purchases of direct materials Direct labor Manufacturing overhead Selling and administrative expenses Total cash payments Ending cash balance before fitnancing Minimum cash balance desired Projected cash excess (defitciency) Financing: Borrowing Princinal renavments Total cash payments Ending cash balance before fi nancing Minimum cash balance desired Projected cash excess (defi Financing: Borrowing Principal repayments Total effects of financing Ending cash balance Yogi has $15,500 in cash on hand on January 1 and has collected the foliowing budget data: (Click on the icon to view the budget data.) Assume direct labor costs and manufacturing overhead costs are paid in the month incurred. Additionally, assume Yogi has cash payments for selling and administrative expenses including salaries of $55,000 per month plus commissions that are 2% of sales, all paid in the month of sale. The company requires a minimum cash balance of $10,000. Prepare a cash budget for January and February. Round to the nearest dollar. Will Yogi need to borrow cash by the end of February? Begin by preparing the cash budget for January, then prepare the cash budpet for Fobruary. (Complete all input fiolds. Enter a "0" for any zero balances. Round all amounts entered into the cash budget to the nearest wholo dollar.) Begin by preparing the cash budget for January, then prepare the cash budget for Fobruary. (Comploto all input fields. Enter a " 0 " for any zero balances. Round all amounts ontered into the cash budget to the nearest whole dollar.) Purchases of direct materials Direct labor Manufacturing overhead Selling and administrative expenses Total cash payments Ending cash balance before fitnancing Minimum cash balance desired Projected cash excess (defitciency) Financing: Borrowing Princinal renavments Total cash payments Ending cash balance before fi nancing Minimum cash balance desired Projected cash excess (defi Financing: Borrowing Principal repayments Total effects of financing Ending cash balance
