Assume the following data for Animal Transport Company: Requirements 1. Prepare a cash budget for April for
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Assume the following data for Animal Transport Company:
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Requirements 1. Prepare a cash budget for April for Animal Transport. 2. Why do Animal Transport's managers prepare a cash budget in addition to the revenue, expenses, and operating income budget? Cash balance, beginning 5,600 Add receipts Cash sales 16,610 Credit card sales 146,500 Total cash available for needs 168,710 Deduct disbursements Direct materials Direct manufacturing labor Manufacturing overhead Nonmanufacturing salaries Sales commissions Other nonmanufacturing fixed costs Machinery purchase Income taxes Total disbursements Requirements 1. Prepare a cash budget for April for Animal Transport. 2. Why do Animal Transport's managers prepare a cash budget in addition to the revenue, expenses, and operating income budget? Cash balance, beginning 5,600 Add receipts Cash sales 16,610 Credit card sales 146,500 Total cash available for needs 168,710 Deduct disbursements Direct materials Direct manufacturing labor Manufacturing overhead Nonmanufacturing salaries Sales commissions Other nonmanufacturing fixed costs Machinery purchase Income taxes Total disbursements
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