January February Colter Company prepares monthly cash budge.docx
Danner Company expects to have a cash balance of $64-216 on January 1-.docx
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Danner Company expects to have a cash balance of $64,216 on January 1, 2014. Relevant monthly budget data for the first 2 months of 2014 are as follows. Collections Collections from customers: January $118,660, February $209,400. Payments for direct materlals: January $69,800, February $97,720 ufacturind anuary $41.685: January se 560, Febru Selling and adminlstrative expenses: January $20,940, February $27,920. These costs are exclusive of depreciation. They are pald as Incurred e36 per DIrect labor: January $41,880, February $62,820. Wages are pald in the month they are Incurred. Manufacturing overhead: January $29,316, February $34,900. These costs Include of $1,396 per month. All other overhead costs are pald as Incurred. are pald as depreciation month. All rhead cos Sales of marketable securitles In January are expected to realize $13,960 In cash. Danner Company has a line of credit at a local bank that enables it to borrow up to $34,900. The company wants to malntaln a minlmum monthly cash balance of $27,920. securities at enables t to borrow monthly ca bank that maintaln a a minimum Prepare a cash budget for January and February DANNER COMPANY Cash Budget For the Two Months Ending February 28, 2014 Jan Solution Statement showing cash budget for January and February Particulars January February Opening Balance                         64,216.00                        36,296.00 Collections from customers                       118,660.00                      209,400.00 Payment for Direct Materials                       (69,800.00)                      (97,720.00) Direct Labour                       (41,880.00)                      (62,820.00) Manufacturing Overhead excluding depreciation since depr is non cash expense                       (27,920.00)                      (33,504.00) Selling and admin exp                       (20,940.00)                      (27,920.00) Sales of Marketable securities                         13,960.00                                        -  Closing bal before adj                         36,296.00                        23,732.00 Minimum Balance required                         27,920.00                        27,920.00 Loan taken                                         -                            4,188.00 Balance at end                         36,296.00                        27,920.00 .
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Danner Company expects to have a cash balance of $64-216 on January 1-.docx
- Danner Company expects to have a cash balance of $64,216 on January 1, 2014. Relevant monthly budget data for the first 2 months of 2014 are as follows. Collections Collections from customers: January $118,660, February $209,400. Payments for direct materlals: January $69,800, February $97,720 ufacturind anuary $41.685: January se 560, Febru Selling and adminlstrative expenses: January $20,940, February $27,920. These costs are exclusive of depreciation. They are pald as Incurred e36 per DIrect labor: January $41,880, February $62,820. Wages are pald in the month they are Incurred. Manufacturing overhead: January $29,316, February $34,900. These costs Include of $1,396 per month. All other overhead costs are pald as Incurred. are pald as depreciation month. All rhead cos Sales of marketable securitles In January are expected to realize $13,960 In cash. Danner Company has a line of credit at a local bank that enables it to borrow up to $34,900. The company wants to malntaln a minlmum monthly cash balance of $27,920. securities at enables t to borrow monthly ca bank that maintaln a a minimum Prepare a cash budget for January and February DANNER COMPANY Cash Budget For the Two Months Ending February 28, 2014 Jan Solution Statement showing cash budget for January and February Particulars January February Opening Balance                         64,216.00                        36,296.00 Collections from customers                       118,660.00                      209,400.00 Payment for Direct Materials                       (69,800.00)                      (97,720.00) Direct Labour                       (41,880.00)                      (62,820.00) Manufacturing Overhead excluding depreciation since depr is non cash expense                       (27,920.00)                      (33,504.00) Selling and admin exp                       (20,940.00)                      (27,920.00) Sales of Marketable securities                         13,960.00                                        -   Closing bal before adj                         36,296.00                        23,732.00 Minimum Balance required                         27,920.00
-                        27,920.00 Loan taken                                         -                            4,188.00 Balance at end                         36,296.00                        27,920.00