Please solve requirement 4

Requirement 2. Snows is interested in maintaining a minimum cash balance of $160,000 at the end of each month. Will Snows be in a position to pay the $16 Yes, Snows will be in a position to pay the $165,000 dividend on January 31. Requirement 3. Why do Snows's managers prepare a cash budget in addition to the revenue, expenses, and operating income budget? Snows's managers prepare a cash budget in addition to the operating income budget to plan cash flows to ensure that the company has adequate cash to pa Requirement 4. Prepare a budgeted balance sheet for January 31, 2018 by calculating the January 31, 2018 balances in (a) cash (b) accounts receivable (c) Snows, Inc. Budgeted Balance Sheet January 31, 2018 Assets: Accounts receivable Cash Inventory Property, plant and equipment 549,250 278,455 400580 852,000 2080285 Total Liabilities and Stockholders' Equity: Accounts payable Long term liabilities Stockholders' equity 321,825 180,000 1578460 2080285 Total Snows, Inc., manufactures and sells snowboards. Snows manufactures a single model, the Pipex. In late 2017, Snows's management accountant gathered the following data to prepare budgets for January 2018: Click the icon to view the budgeted balances and additional information pertaining to the cash budget.) (Click the icon to view the additional variable and fixed manufacturing cost information.) Requirement 1. Prepare a cash budget for January 2018. Show supporting schedules for the calculation of collection of receivables and payments of accounts payable, and for disbursements for fixed manufacturing and nonmanufa Begin by preparing the supporting schedule for the calculation of collection of receivables. Schedule of Cash Collections From December 2017 sales $ 1,163,500 Data Table From January 2018 sales 295,750 s 1.459.250 Total collections Materials and Labor Requirements Next prepare the supporting schedule for the payments of accounts payable. Direct materials Schedule of Cash Payments for Accounts Payable Wood 9 board feet (b.f.) per snowboard From December 2017 purchases 510,000 Fiberglass 7 yards per snowboard From January 2018 purchases 107,275 Direct manufacturing labor 8 hours per snowboard 617275 Snows' CEO expects to sell 1,300 snowboards during January 2018 at an estimated retail price of $650 per board. Further, the CEO expects 2018 beginning inventory of 600 snowboards and would like to end January 2018 with 600 snowboards in stock. Total cash payments for accounts payable Prepare the supporting schedule for disbursements for fixed manufacturing and nonmanufacturing Schedule of Cash Payments for Fixed Overhead Fixed manufacturing overhead 27,000 Fixed nonmanufacturing overhead 36,800 Total cash payments for fixed overhead Prepare a cash budget for January 2018. (If a box is not used in the table leave the box empty; de 9,800 Direct Materials Inventories Beginning Inventory 1/1/2018 Ending Inventory 1/31/2018 2,020 b.1. 1,520 b.f. 1,020 yards 2,020 yards Wood Fiberglass Other data include: 2017 Unit Price 2018 Unit Price Wood $ 30.00 per b.f. $ 32.00 per b.f. Fiberglass $ 6.00 per yard $ 7.00 per yard Direct manufacturing labor $ 26.00 per hour $ 27.00 per hour The inventoriable unit cost for ending finished-goods inventory on December 31, 2017, is $250.00 Assume Snows uses a FIFO inventory method for both direct materials and finished goods. Ignore work in process in your calculations. 12,000 1,459,250 1,471,250 Print Done S Snows, Inc. Cash Budget For Month Ending January 31, 2018 Cash balance, beginning $ Add receipts Collections from customers S Total cash available for needs Deduct disbursements Cash dividends Direct manufacturing labor Direct materials Fixed manufacturing overhead costs Fixed nonmanufacturing overhead costs Variable marketing costs Variable manufacturing overhead costs $ Total disbursements $ Cash balance, ending 165,000 280,800 617,275 9,800 27,000 9,720 83,200 1,192,795 278,455 Reference More Info Revenue Budget For January 2018 Units Selling price Total revenues 1,300 $ 650 $ 845,000 Snowboards Variable manufacturing overhead is $8 per direct manufacturing labor-hour. There are also $20,800 in fixed manufacturing overhead costs budgeted for January 2018. Snows combines both variable and fixed manufacturing overhead into a single rate based on direct manufacturing labor-hours. Variable marketing costs are allocated at the rate of $270 per sales visit. The marketing plan calls for 36 sales visits during January 2018. Finally, there are $33,000 in fixed nonmanufacturing costs budgeted for January 2018 Direct Materials Purchases Budget For January 2018 Materials Print Done Wood Fiberglass Total Physical Units Budget To be used in production 11,700 b.f. 9,100 yards Data Table 1,520 b.. 2,020 yards Add target ending inventory Total requirement 13,220 b.f. 2,020 b.f. Budgeted balances at January 31, 2018 are as follows: Deduct beginning inventory 11,120 yards 1,020 yards 10,100 yards Cash ? Purchases to be made 11,200 b.f. Accounts receivable ? Cost Budget ? $ 358,400 $ 70,700 $ 429,100 Purchases $ 852,000 Inventory Property, plant, and equipment (net) Accounts payable Long-term liabilities Stockholders' equity ? 180,000 Direct Manufacturing Labor Costs Budget For January 2018 Output Units DMLH Total Produced per Unit Hours Wage Rate 1,300 8 10,400 $ 27 ? Hourly Total Selected budgeted information for December 2017 follows: Cash balance, December 31, 2017 $ Snowboards $ 280,800 12,000 Total labor hours 1,790,000 = Variable manufacturing overhead rate Budgeted sales Budgeted materials purchases Variable manufacturing overhead costs $ 83,200 680,000 10,400 Ending Inventories Budget For January 2018 Quantity Cost per unit Total Customer invoices are payable within 30 days. From past experience, Snows's accountant projects 35% of invoices will be collected in the month invoiced, and 65% will be collected in the following month. Accounts payable relates only to the purchase of direct materials. Direct materials are purchased on credit with 25% of direct materials purchases paid during the month of the purchase, and 75% paid in the month following purchase. Fixed manufacturing overhead costs include $11,000 of depreciation costs and fixed nonmanufacturing overhead costs include $6,000 of depreciation costs. Direct manufacturing labor and the remaining manufacturing and nonmanufacturing overhead costs are paid monthly Direct materials Wood 1,520 $ 32 $ 48,640 Fiberglass 2,020 7 14,140 Finished goods All property, plant, and equipment acquired during January 2018 were purchased on credit and did not entail any outflow of cash. There were no borrowings or repayments with respect to long-term liabilities in January 2018. On December 15, 2017, Snows's board of directors voted to pay a $165,000 dividend to stockholders on January 31, 2018. Snowboard 600 379,800 $ 633 $ 442,580 Total ending inventory Print Done that| a plan to bol Print Done aila