Exercise $20-22($Algo$)$ Manufacturing: Cash budget LO P$2$

Use the following information to prepare the September cash budget for PTO Company. Ignore the "Loan activity" section of the budget.

a$.$ Beginning cash balance, September $1,$$$41,000.$

b$.$ Budgeted cash receipts from September sales, $$259,000.$

c$.$ Direct materials are purchased on credit. Purchase amounts are August $($actual$),$ $$77,000$; and September $($budgeted$),$ $$102,000.$ Payments for direct materials follow: $65\%$ in the month of purchase and $35\%$ in the first month after purchase.

d$.$ Budgeted cash payments for direct labor in September, $$35,000.$

e$.$ Budgeted depreciation expense for September, $$3,200.$

f$.$ Budgeted cash payment for dividends in September, $$53,000.$

g$.$ Budgeted cash payment for income taxes In September, $$10,800.$

h$.$ Budgeted cash payment for loan Interest in September, $$1,300.$

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