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Exercise 24-15 Deitz Corporation is projecting a cash balance of $32,400 in its December 31,...

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Accounting

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Exercise 24-15 Deitz Corporation is projecting a cash balance of $32,400 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 $199,800. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $46,440. Other information gathered for the first quarter of 2020 is sale of equipment $3,240; direct labor $75,600, manufacturing overhead $37,800, selling and administrative expenses $48,600; and purchase of securities $15,120. Deitz wants to maintain a balance of at least $27,000 cash at the end of each quarter Prepare a cash budget for the first quarter DEITE CORPORATION Cash Budget

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