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Exercise 13-15 Blue Corporation is projecting a cash balance of $38,460 in its December 31,...

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Exercise 13-15 Blue Corporation is projecting a cash balance of $38,460 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 $237,170. The schedule of expected payments for direct materials for the first quarter of 2017 shows total payments of $55,126. Other information gathered for the first quarter of 2017 is sale of equipment $3,846; direct labor $89,740, manufacturing overhead $44,870, selling and administrative expenses $57,690; and purchase of securities $17.948. Blue wants to maintain a balance of at least $32,050 cash at the end of each quarter, Prepare a cash budget for the first quarter. (Do not leave any answer field blank. Enter o for amounts.) BLUE CORPORATION Cash Budget

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