Claudia Castro$-$Diaz

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Question

Part $1$ of $3$

Completed: $8$ of $9|$ My score: $122/154$ pts $(79\mathrm{.}22\%)$

Yosko has $$14,500$ in cash on hand on January $1$ and has collected the following budget data:

$($Click on the icon to view the budget data.$)$

Assume direct labor costs and manufacturing overhead costs are paid in the month incurred. Additionally, assume Yosko has cash payments for selling and administrative expenses including salaries of $$55,000$ per month plus commissions that are $2\%$ of sales, all paid in the month of sale. The company requires a minimum cash balance of $$10,000.$ Prepare a cash budget for January and February. Round to the nearest dollar. Will Yosko need to borrow cash by the end of February?

Data table

$\backslash$table$[[,$January,February$],[$Sales$,$$$,530,000,$$$,561,000],[$Cash receipts from customers,,$442,500,,502,000],[$Cash payments for direct materials purchases,,$180,856,,161,104],[$Direct labor costs,,$135,470,,112,626],[$Manufacturing overhead costs $($includes depreciation of $$900$ per month$),,55,492,,53,566]]$

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Yosko has $$14,500$ in cash on hand on January $1$ and has collected the following budget data:

$($Click on the icon to view the budget data.$)$

Assume direct labor costs and manufacturing overhead costs are paid in the month incurred. Additionally, assume Yosko has cash payments for selling and administrative expenses including salaries of $$55,000$ per month plus commissions that are $2\%$ of sales, all paid in the month of sale. The company requires a minimum cash balance of $$10,000.$ Prepare a cash budget for January and February. Round to the nearest dollar. Will Yosko need to borrow cash by the end of February?

Data table

$\backslash$table$[[,$January,February$],[$Sales$,$$$,530,000,$$$,561,000],[$Cash receipts from customers,,$442,500,,502,000],[$Cash payments for direct materials purchases,,$180,856,,161,104],[$Direct labor costs,,$135,470,,112,626],[$Manufacturing overhead costs $($includes depreciation of $$900$ per month$),,55,492,,53,566]]$