Blue Spruce Company expects to have a cash balance of $45,100 on January 1, 2022. Blue Spruce has budgeted the following for the first two months of the year 2022: Collections from customers: January $89,900: February $109,500. Payments to suppliers: January $40,000: February $50,300. Direct labour: January $29.900, February $34,900. Wages are paid in the month they are incurred. 4 Manufacturing overhead: January $24,800, February $30,300. Overhead costs are paid as incurred. Selling and administrative expenses: January $16,000; February $22,100. These costs do not include depreciation and they are paid as incurred. 1. 2 3. 5 6. Sales of investments in January are expected to realize $10.100 in cash. Blue Spruce Company wants to keep a minimum monthly cash balance of $20,000. Ignore any interest on amounts borrowed. Prepare a cash budget for January and February. BLUE SPRUCE COMPANY Cash Budget For 2022 $ January THOMA S February 111

Blue Spruce Company expects to have a cash balance of $45,100 on January 1, 2022. Blue Spruce has budgeted the following for the first two months of the year 2022: Collections from customers: January $89,900: February $109,500. Payments to suppliers: January $40,000: February $50,300. Direct labour: January $29.900, February $34,900. Wages are paid in the month they are incurred. 4 Manufacturing overhead: January $24,800, February $30,300. Overhead costs are paid as incurred. Selling and administrative expenses: January $16,000; February $22,100. These costs do not include depreciation and they are paid as incurred. 1. 2 3. 5 6. Sales of investments in January are expected to realize $10.100 in cash. Blue Spruce Company wants to keep a minimum monthly cash balance of $20,000. Ignore any interest on amounts borrowed. Prepare a cash budget for January and February. BLUE SPRUCE COMPANY Cash Budget For 2022 $ January THOMA S February 111

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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