+II 12 Print E Screen Lock Pause Break Backspace 10/22/2021 Chapter 6 - Homework-sehrish bashir 5. Assume the following data for Pet Luggage Company: 8(Click the icon to view the assumptions.) Nun (Click the icon to view budget information.) Requirements B. 1. Prepare a cash budget for April for Pet Luggage. 2. Why do Pet Luggage's managers prepare a cash budget in addition to the revenue, expenses, and operating income budget? Home 8. Requirement 1. Prepare a cash budget for April for Pet Luggage. 4. Begin the cash budget by calculating the cash available, then total disbursements, and finally the effects of financing and the ending cash balance. (Round your answers to the nearest whole dollar. Enter "0" for repayment of loan if excess cash does not exceed $10,000 at the end of April.) 5. 1. End 3. Pg Dn Chapter 6 - Homework-sehrish bashir 10/22/2021 8: More Info • Pet Luggage (PL) does not make any sales on credit. PL sells only to the public and accepts cash and credit cards; 90% of its sales are to customers using credit cards, for which PL gets the cash right away, less a 4% transaction fee. • Purchases of materials are on account. PL pays for half the purchases in the period of the purchase and the other half in the following period. At the end of March, PL owes suppliers $8,400. During April they plan to purchase direct materials worth $13,005. su Del PL plans to replace a machine in April at a net cash cost of $13,100. • Labor, other manufacturing costs, and (operating) nonmanufacturing costs are paid in cash in the month incurred except of course depreciation, which is not a cash flow. Depreciation is $20,000 of the manufacturing cost and $12,000 of the operating (nonmanufacturing) cost for April. PL currently has a $2,700 loan at an annual interest rate of 12%. The interest is paid at the end of each month. If PL has more than $7,000 cash at the end of April it will pay back the loan. PL owes $5,100 in income taxes that need to be remitted in April. PL has cash of $5,400 on hand at the end of March. ed costs 9: Reference sts Revenue Budget For the Month of April Units Selling price Total Revenues 110,200 Cat-allac 580 $ $ 06 215 006s Dog-eriffic 166,100 Total $ flon Manufacturing Overhead Budget For the Month of April 9,100 Machine setup costs 2$ Processing costs 480 Inspection costs 67,580 Total $4 Direct Manufacturing Labor Costs Budget For the Month of April Total Hourly DMLH Output units Total Hours Wage Rate produced per unit 14 $ 25,200 3 Cat-allac $ 10.0.0 S 14 5 Dog-eriffic $ 39,200 Total Operating (nonmanufacturing) Costs Budget For the Month of April $ 18,400 Salaries 000'9L 1,661 Other fixed costs Sales commissions ht $ 36,061 Total operating (nonmanufacturing) costs 14/16 https://xlitemprod.pearsoncmg.com/api/v1/print/highered