Walter Company has the following information for the month of March: Cash balanc

Question

Walter Company has the following information for the month of March: Cash balance, March 1 Collections from customers Paid to suppliers Manufacturing overhead Direct labor Selling and administrative expenses $ 17,520 40.450 23.100 6,900 8,650 5,000 Walter pays all expenses in the month incurred. Manufacturing overhead includes $1,600 for machinery depreciation, but the amount for selling and administrative expenses is exclusive of depreciation. Additionally, Walter also expects to buy a piece of property for $7,800 during March. Walter can borrow in increments of $1,000 and would like to maintain a minimum cash balance of $10,000 Required: Prepare Walter's cash budget for the month of March. Beginning Cash Balance Budgeted Cash Receipts Budgeted Cash Payments Preliminary Cash Balance Cash Borrowed Ending cash balance

Explanation / Answer

Beginning cash balance 17520 Budgeted cash receipts 40450 Budgeted cash payments 49850 =23100+6900+8650+5000-1600+7800 Preliminary cash balance 8120 Cash borrowed 2000 Ending cash balance 10120

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