Deitz Corporation is projecting a cash balance of $33,900 in its December 31, 2016, balance...
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Deitz Corporation is projecting a cash balance of $33,900 in its December 31, 2016, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2017 shows total collections of $209,050. The schedule of expected payments for direct materials for the first quarter of 2017 shows total payments of $48,590. Other information gathered for the first quarter of 2017 is sale of equipment $3,390; direct labor79,100, manufacturing overhead $39,550, selling and administrative expenses $50,850; and purchase of securities $15,820. Deitz wants to maintain a balance of at least 28,250 cash at the end of each quarter Prepare a cash budget for the first quarter. (Do not leave any answer field blank. Enter 0 for amounts.) DEITZ CORPORATION Cash Budget
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