Question1 Deitz Corporation is projecting a cash balance of $37,620 in its Decem

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Question1 Deitz Corporation is projecting a cash balance of $37,620 in its December 31, 2016, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2017 shows total collections of $231,990. The schedule of expected payments for direct materials for the first quarter of 2017 shows total payments of $53,922. Other information gathered for the first quarter of 2017 is sale of equipment $3,762; direct labor $87,780, manufacturing overhead $43,89o, selling and administrative expenses $56,430; and purchase of securities $17,556. Deitz wants to mabaance of at least $31,350 cash at the end of each quarter. Prepare a cash budget for the first quarter. (Do not leave any answer field blank. Enter 0 for amounts.) DEITZ CORPORATION Cash Budget For the Month Ended March 31, 2017 For the Quarter Ended March 31, 2017 March 31, 2017 n Wiley & Sons _Inc. Version 4.24

Explanation / Answer

Dear Student Thank you for using Chegg Please find below the answer Statementshowing Computations Paticulars Amount Cash Balance            37,620.00 Add Cash receipts Expected cash collections         231,990.00 Sale of equipment              3,762.00 Total cash collections         235,752.00 Cash Payments: Direct Materials            53,922.00 Direct Labour            87,780.00 Manufacturing overhead            43,890.00 Selling and admin expenses            56,430.00 Purchase of securities            17,556.00 Total cash payments         259,578.00 Ending Cash balance = 37620 + 235752 - 259578            13,794.00 Desired ending cash balance            31,350.00 Loan taken = 31350 - 13794            17,556.00

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