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zachspencer6444
17.10.2020 •
Business
Danner Company expects to have a cash balance of $47,700 on January 1, 2020. Relevant monthly budget data for the first 2 months of 2020 are as follows.Collections from customers: January $90,100, February $159,000.Payments for direct materials: January $53,000, February $79,500.Direct labor: January $31,800, February $47,700. Wages are paid in the month they are incurred.Manufacturing overhead: January $22,260, February $26,500. These costs include depreciation of $1,590 per month. All other overhead costs are paid as incurred.Selling and administrative expenses: January $15,900, February $21,200. These costs are exclusive of depreciation. They are paid as incurred.Sales of marketable securities in January are expected to realize $12,720 in cash. Danner Company has a line of credit at a local bank that enables it to borrow up to $26,500. The company wants to maintain a minimum monthly cash balance of $21,200. Prepare a cash budget for January and February.
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Ответ:
See attachment
Explanation:
A cash budget is simply referred to as a budget hat consist of the expected cash receipts and the cash payments for a particular period. These cash receipts and payments consists of revenues gotten and the expenses that were paid.
The cash budget for January and February has been prepared.
Ответ:
This is a True statement.
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- Hannah ❤