Question

edule of cash receipts, schedule of cash 40A Preparing a financial budget schedule of cash receipts payments, cash budget 90 Humble Company has provided the following budget information of 2016: ed the following budget information for the first quarter 39 Total sales $ 208,000 Budgeted purchases of direct materials 40,150 Budgeted direct labor cost 37,300 Budgeted manufacturing overhead costs: Variable manufacturing overhead 1,119 Depreciation 1,000 Insurance and property taxes 6,833 Budgeted selling and administrative expenses: Salaries expense 6,000 Rent expense 1,500 Insurance expense 1,700 Depreciation expense 200 Supplies expense 10,400

Answer 1

Schedule of budgeted cash receipts
For the first quarter of 2016
	$
Total sales	2,08,000
Total cash receipts	2,08,000
Schedule of budgeted cash payments
For the first quarter of 2016
	$
Purchase of direct materials	40,150
Direct labor cost	37,300
Manufacturing overhead costs:
Variable manufacturing overhead	1,119
Insurance and property taxes	6,833
Selling and administrative expenses:
Salaries expense	6,000
Rent expense	1,500
Insurance expense	1,700
Supplies expense	10,400
Total cash payments	1,05,002
Cash budget
For the first quarter of 2016
Beginning cash balance	-
Cash receipts	2,08,000
Cash payments	1,05,002
Ending cash balance	1,02,998