Vaughn Corporation is projecting a cash balance of $37,200 in its December 31, 2021, balance sheet....

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Vaughn Corporation is projecting a cash balance of $37,200 in its December 31, 2021, balance sheet. Vaughn's schedule of expected collections from customers for the first quarter of 2022 shows total collections of $229,400. The schedule of expected payments for direct materials for the first quarter of 2022 shows total payments of $53,320. Other information gathered for the first quarter of 2022 is sale of equipment $3,720; direct labor $86,800, manufacturing overhead $43,400, selling and administrative expenses $55,800; and purchase of securities $17,360. Vaughn wants to maintain a balance of at least $31,000 cash at the end of each quarter. Prepare a cash budget for the first quarter. VAUGHN CORPORATION Cash Budget $ Vaughn Corporation is projecting a cash balance of $37,200 in its December 31, 2021, balance sheet. Vaughn's schedule of expected collections from customers for the first quarter of 2022 shows total collections of $229,400. The schedule of expected payments for direct materials for the first quarter of 2022 shows total payments of $53,320. Other information gathered for the first quarter of 2022 is sale of equipment $3,720; direct labor $86,800, manufacturing overhead $43,400, selling and administrative expenses $55,800; and purchase of securities $17,360. Vaughn wants to maintain a balance of at least $31,000 cash at the end of each quarter. Prepare a cash budget for the first quarter. VAUGHN CORPORATION Cash Budget $