Oriole Company expects to have a cash balance of $45,300 on January 1, 2022. Oriole...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Oriole Company expects to have a cash balance of $45,300 on January 1, 2022. Oriole has budgeted the following for the first two months of the year 2022: 1. Collections from customers: January $90,900; February $109,600.
2. Payments to suppliers: January $40,000; February $49,800.
3. Direct labour: January $30,300; February $35,200. Wages are paid in the month they are incurred.
4. 5. Manufacturing overhead: January $25,200; February $30,300. Overhead costs are paid as incurred. Selling and administrative expenses: January $15,800; February $22,100. These costs do not include depreciation and they are paid as incurred. 6. Sales of investments in January are expected to realize $10,100 in cash. Oriole Company wants to keep a minimum monthly cash balance of $20,000. Ignore any interest on amounts borrowed. Prepare a cash budget for January and February. Chatg ORIOLE COMPANY Cash Budget For 2022 January February
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
