Given the information provided in the tab "Data for Question 14", create a monthly cash budget for the firm for January, February and March of 2022. For each month, calculate the cash surplus or deficit relative to the target cash balance and place your answers below.

Jan-22:

Feb-22:

March-22:

Data needed:

Target Monthly Cash Balance $25,000 Sales Collection: Upfront with 1% discount 1 Month with 0.5% discount 2 Months with no discount Uncollectable 37% 28% 34% 1% Cost of Materials 44% of current month's sales Material costs are paid after one month with no discount Other variable costs 26% of current month's sales Other variable costs include Labor, S&A, taxes, and other expenses and are paid during the month they are incurred sts Fixed 12% of current month's sales Fixed costs are paid during the month they are incurred November 2021 Sales December 2021 Sales Initial cash balance left Dec 31, 2021 $185,000 $195,000 $28,400 Jan-22 $200,000 Feb-22 $230,000 Mar-22 $220,000 Projected Gross Sales