Business, 19.05.2020 17:57 munchyswish

Blue Corporation is projecting a cash balance of $36,450 in its December 31, 2016, balance sheet. Blue’s schedule of expected collections from customers for the first quarter of 2017 shows total collections of $224,775. The schedule of expected payments for direct materials for the first quarter of 2017 shows total payments of $52,245. Other information gathered for the first quarter of 2017 is sale of equipment $3,645; direct labor $85,050, manufacturing overhead $42,525, selling and administrative expenses $54,675; and purchase of securities $17,010. Blue wants to maintain a balance of at least $30,375 cash at the end of each quarter.

Prepare a cash budget for the first quarter.

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Blue Corporation is projecting a cash balance of $36,450 in its December 31, 2016, balance sheet. Bl...