Current Attempt in Progress

Crane Corporation is projecting a cash balance of $31,200 in its December 31, 2021, balance sheet. Cranes schedule of expected collections from customers for the first quarter of 2022 shows total collections of $192,400. The schedule of expected payments for direct materials for the first quarter of 2022 shows total payments of $44,720. Other information gathered for the first quarter of 2022 is sale of equipment $3,120; direct labor $72,800, manufacturing overhead $36,400, selling and administrative expenses $46,800; and purchase of securities $14,560. Crane wants to maintain a balance of at least $26,000 cash at the end of each quarter. Prepare a cash budget for the first quarter.

CRANE CORPORATION Cash Budget choose the accounting period