Questions #41-852 Wilbur Company is preparing a cash budget for the last quarter of the year 2017. The following budgeted information is available: August SeptemberOctober November December $200,000 $250,000 $180,000 $210,000 $240,000 Sales Direct Material Purchases Direct Labor Costs Overhead Costs $30,000 $45,000 $40,000 $42,000 $43,000 $62,000 $67,000 $68,000 $64,000 $66,000 62,000 $62,000 $62,000 $62,000 $62,000 $50,000 $50,000 $50,000 $50,000 $5,000 Selling and Administrative Costs Additional information will be given in the questions. Prepare a (1) schedule of cash collections (2) schedule of cash payments for materials; and (3) a cash budget
(1)statement showing cash collections for the last quarter of 2017
particulars amount
october 180000
november 210000
december 240000
total 630000
(2) schedule of cash payments for materials
particulars amount
october 40000
november 42000
december 43000
total 125000
(3) schedule of cash budget
particulars amount
opening balance 22000
october net inflow -40000
november net inflow -8000
december net inflow 19000
total -7000
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