Preparing Cash Budget
Garcia Company has the following information for the month of March.
Cash balance, March 1 | $15,575 |
Collections from customers | 34,650 |
Paid to suppliers | 22,300 |
Manufacturing overhead | 6,100 |
Direct labor | 8,250 |
Selling and administrative expenses | 4,200 |
Garcia pays wages in the month incurred. Manufacturing overhead includes $1,200 for machinery depreciation, but the amount for selling and administrative expenses is exclusive of depreciation. Additionally, Garcia also expects to sell a piece of property for $15,000 during March.
Required:
Prepare Garcia’s cash budget for the month of March.
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