Hello, based on the information provided, please calculate the missing information needed for the cash budget below.

Background Information: Texas Rex sells t-shirts. Expected sales for each quarter is 1000, 1200, 1500, and 2000 t-shirts at $10.00 each. They anticipate no price change. A production budget tells management how many units must be produced to satisfy anticipated sales and ending inventory needs. Assume the company requires 20% of the next quarters sales in ending inventory and that beginning inventory of t-shirts for the first quarter of the year was 180.nThe Direct Materials Budget tells management how much must be bought to support production and the cost of those purchases. Plain t-shirts cost $3.00 each, and ink (for the screen printing) cost $0.20 per ounce. The factory needs one plain t-shirt and five ounces of ink for each logoed t-shirt that it produces. Texas Rexs policy is to have 10% of the following quarters needs in ending inventory. The factory has 58 plain t-shirts and 390 ounces of ink on hand on January 1. At the end of the year, the desired ending inventory is 106 plain t-shirts and 530 ounces of ink. The Direct Labor Budget shows how many hours are required for production and the total cost of those hours. It takes 0.12 hours to produce one t-shirt. The average wage cost per hour is $10. The overhead budget shows forecasted variable and fixed overhead costs for the coming year. For Texas Rex the variable overhead rate is $5 per direct labor hour. Fixed overhead is budgeted at $1645 per quarter. Assume the variable Selling and Administrative Expenses are $0.10 per unit. Administrative salaries are $1420 per quarter. Utilities are $50 per quarter. Depreciation is $150 per quarter. Advertising for Quarters 1 through 4 are $100, $200, $800, $500, respectively.

The Cash Budget is critically important to the survival of businesses. It tells management how much cash is available and shortfalls of cash need to be anticipated and handled through expense reductions or financing.

Assume that Texas Rexs beginning cash balance is $5200. The company requires a $1000 minimum cash balance for the end of each quarter. Money can be borrowed in increments of $1000. Interest is 12% per year. Borrowings take place at the beginning of a quarter and repayments occur at the end of a quarter.

Budgeted depreciation is $540 per quarter for overhead and $150 per quarter for selling and administrative expenses. The company plans to purchase additional screen printing equipment at a cost of $6500 in the first quarter. Corporate income taxes are expected to be $3469 and will be paid at the end of the fourth quarter.

Texas Rex, Inc.

Cash Budget

For the year ending December 31, 2018

Q1 Q2 Q3 Q4 Total

Beginning Cash Balance

Cash Collections _______ _______ ________ _______ ________

Total Cash Available

Less Cash Payments for:

Raw Materials

Direct Labor

Overhead

S & Adm Expenses

Income Taxes

Equipment _______ _______ ________ _______ ________

Total Disbursements

Excess (deficiency) of cash

Financing:

Borrowings

Repayments

Interest _______ _______ ________ _______ ________

Total Financing

Ending Cash Balance