Deitz Corporation is projecting a cash balance of $30,600 in its December 31, 2019, balance sheet....

  

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Deitz Corporation is projecting a cash balance of $30,600 in its December 31, 2019, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2020 shows total collections of $188,700. The schedule of expected payments fo direct materials for the first quarter of 2020 shows total payments of $43,860. Other information gathered for the first quarter of 2020 is sale of equipment $3,060; direct labor $71,400, manufacturing overhead $35,700, selling and administrative expenses $45,900; and purchase of securities $14.280. Deitz wants to maintain a balance of at least $25,500 cash at the end of each quarter. Prepare a cash budget for the first quarter. Beginning Cash Balance DEITZ CORPORATION Cash Budget For the Quarter Ended March 31, 2020 Deitz Corporation is projecting a cash balance of $30,600 in its December 31, 2019, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2020 shows total collections of $188,700. The schedule of expected payments fo direct materials for the first quarter of 2020 shows total payments of $43,860. Other information gathered for the first quarter of 2020 is sale of equipment $3,060; direct labor $71,400, manufacturing overhead $35,700, selling and administrative expenses $45,900; and purchase of securities $14.280. Deitz wants to maintain a balance of at least $25,500 cash at the end of each quarter. Prepare a cash budget for the first quarter. Beginning Cash Balance DEITZ CORPORATION Cash Budget For the Quarter Ended March 31, 2020

Answer rating: 100% (QA)

Cash budget For first quarter Beginning cash balance 30600 Cash receipts Cash collection from cu... View the full answer