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 S 16,770 37,950 22,600 6,400 8,400 4,500 Walter pays all expenses in the month incurred. Manufacturing overhead includes $1.350 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 $7,300 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 16770 Budgeted cash receipts 37950 Budgeted cash payments 47850 =22600+6400+8400+4500-1350+7300 Preliminary cash balance 6870 Cash borrowed 4000 Ending cash balance 10870

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