Please help! I canât figure out the rest of the amountswhere I placed question marks. Please explain how to get theanswers. Thank you!
Topper, Inc. prepared the following cash budget for thefourth quarter. Fill in the missing amounts, assuming that Topperdesires to maintain a $15,000 minimum monthly cash balance and allequipment was purchased during December. Any required borrowingsand repayments must be made in even increments of$1,000
October November December Quarter
Beginning cashbalance 16,030 15,130 19,940 16,030
Collections fromsales 56,590 82,090 103,950 242,630
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Total cashavailable 72,620 97,220 123,890 258,660
Less disbursements
Materialspurchases 12,330 9,340 14,460 36,130
Directlabor 5,160 6,020 8,360 19,540
Manufacturingoverhead 19,990 23,490 21,820 65,300
Selling &AdminExp. 29,010 29,340 ??? ???
Equipmentpurchase 15,170 15,170
Dividends 4,800 4,800
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Totaldisbursements 66,490 68,190 ??? ???
------------------------------------------------------------------------------
Excess (deficiency) ofcash 6,130 29,030 ??? ???
Minimum cashbalance 15,000 15,000 15,000 15,000
------------------------------------------------------------------------------
Cash available(needed) (8,870) 14,030 13,430 ???
Financing:
Borrowings 9,000 9,000
Repayments (9,000) (9,000)
Interest (90) (90)
------------------------------------------------------------------------------
Totalfinancing 9,000 (9,090) (90)
--------------------------------------------------------------------------------
Ending cashbalance 15,130 19,940 ??? ???
Please help! I canât figure out the rest of the amountswhere I placed question marks. Please explain how to get theanswers. Thank you!
Topper, Inc. prepared the following cash budget for thefourth quarter. Fill in the missing amounts, assuming that Topperdesires to maintain a $15,000 minimum monthly cash balance and allequipment was purchased during December. Any required borrowingsand repayments must be made in even increments of$1,000
October November December Quarter
Beginning cashbalance 16,030 15,130 19,940 16,030
Collections fromsales 56,590 82,090 103,950 242,630
---------------------------------------------------------------------------
Total cashavailable 72,620 97,220 123,890 258,660
Less disbursements
Materialspurchases 12,330 9,340 14,460 36,130
Directlabor 5,160 6,020 8,360 19,540
Manufacturingoverhead 19,990 23,490 21,820 65,300
Selling &AdminExp. 29,010 29,340 ??? ???
Equipmentpurchase 15,170 15,170
Dividends 4,800 4,800
------------------------------------------------------------------------------
Totaldisbursements 66,490 68,190 ??? ???
------------------------------------------------------------------------------
Excess (deficiency) ofcash 6,130 29,030 ??? ???
Minimum cashbalance 15,000 15,000 15,000 15,000
------------------------------------------------------------------------------
Cash available(needed) (8,870) 14,030 13,430 ???
Financing:
Borrowings 9,000 9,000
Repayments (9,000) (9,000)
Interest (90) (90)
------------------------------------------------------------------------------
Totalfinancing 9,000 (9,090) (90)
--------------------------------------------------------------------------------
Ending cashbalance 15,130 19,940 ??? ???
