Exercise 21-15 Your answer is partially correct. Try again. Deitz Corporation is projecting a cash balance of$41,580 in its December 31, 2016, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2017 shows total collections of $256,410. The schedule of expected payments for direct materials for the first quarter of 2017 shows total payments of $59,598. Other information gathered for the first quarter of 2017 is sale of equipment $4,158; direct labor $97,020, manufacturing overhead $48,510, selling and administrative expenses $62,370; and purchase of securities $19,404. Deitz wants to maintain a balance of at least $34,650 cash at the end of each quarter. Prepare a cash budget for the first quarter. (Do not leave any answer field blank. Enter O for amounts.) DEITZ CORPORATION Cash Budget For the Quarter Ended March 31, 2017 Beginning Cash Balance Add Receipts Collections from Customers Sale of Equipment Total Receipts Total Available Cash Less 1.1 Disbursements Direct Materials Direct Labor Manufacturing Overhead Selling and Administrative Expenses Purchase of Securities Total Disbursements Excess of Available Cash Over Cash Disbursements Financing Add LI Borrowings Less 11 Repayments Ending Cash Balance