Your answer is partially correct Try again Swifty Inc prepar

Your answer is partially correct. Try again Swifty, Inc. prepared the following cash budget for the fourth quarter. Fill in the missing amounts, assuming that Swifty desires to maintain a $15,000 minimum monthly cash balance and all equipment was purchased during December. Any required borrowings and repayments must be made in even increments of $1,000. (Enter answers in necessary fields only. Leave other fields blank. Do not enter 0.) October November December Quarter Beginning cash balance Collections from sales Total cash available Less disbursements $15,100 26 97,770 $16,100 242,380 58480 $1610 $20,74 55,980 03730 72,080 124,470 9,620 6,200 22,380 29,740 14,080 7,860 21,930 35,630 Materials purchases Direct labor Manufacturing overhead Selling & administrative expenses Equipment purchase 6960 5,240 19,920 28,890 19,300 0 105352 14,750 Dividends 4970 59660 4,970 4,970 Total disbursements 65,980 1127600 154920 Excess (deficiency) of cash 29,830 30450 Minimum cash balance 15,000 15,000 15,000 15000 8,900 148304,90 Cash available (needed) Financing: Borrowings 9,000 -9,000 90 90 Repayments Interest 90 Total financing 9,090 Ending cash balance $15,100 $20,740 Question Attempts: 1 of 5 used

Solution

october November December Quarter Beginning cash balance 16,100 15,100 20,740 16,100 collections from sales 55,980 82,670 103,730 242,380 total cash available 72,080 97,770 124,470 258,480 less disbursements material purchases 11,930 9,620 14,080 35,630 direct labor 5,240 6,200 7,860 19,300 manufacturing overhead 19,920 22,380 21,930 64,230 selling & administrative expenses 28,890 29,740 30,930 89,560 Equipment purchases 14,750 14,750 Dividends 4,970 4,970 total disbursements 65,980 67,940 94,520 228,440 excess(Deficiency)of cash 6,100 29,830 29,950 30,040 Minimum cash balance 15,000 15,000 15,000 15,000 Cash available (needed) -8,900 14,830 14,950 15,040 Financing: Borrowings 9,000 9,000 Repayments -9,000 -9000 interest -90 -90 total financing 9,000 -9090 -90 ending cash balance 15,100 20,740 14,950 14,950