Runnin-Low Co. is preparing the Cash Budget for the upcoming period, and is concerned about their...
Runnin-Low Co. is preparing the Cash Budget for the upcoming period, and is concerned about their ability to meet their financial obligations in the short term. Following is information relating to Runnin-Low’s financial performance:
|
Beginning-of-period balances: |
|
|
Accounts Receivable |
$6,000 |
|
Accounts Payable |
$3,000 |
|
Accumulated Factory Depreciation |
$6,000 |
|
Cash |
$4,500 |
|
Estimates for end-of-period balances |
|
|
Accounts Receivable |
$7,500 |
|
Accounts Payable |
$2,000 |
|
Accumulated Factory Depreciation |
$8,000 |
|
Budgeted activity levels for the period: |
|
|
Sales |
$75,000 |
|
Purchases of Direct Materials |
$28,000 |
|
Direct Labor Wages |
$12,000 |
|
Manufacturing Overhead |
$13,000 |
|
Selling and Administrative Expenses |
$9,000 |
Except for purchases of direct materials, all expenses are paid as incurred. What is the budgeted ending cash balance for the period?
Select one or more:
a. $17,000
b. $19,250
c. $0
d. $12,500
e. $28,000
Homework Answers
Calculate ending Cash balance
| Beginning Cash balance | 4500 |
| Cash receipt from customer (6000+75000-7500) | 73500 |
| Cash paid to supplier (3000+28000-2000) | -29000 |
| Direct labor wages | -12000 |
| Manufacturing overhead (13000-2000) | -11000 |
| Selling and administrative expense | -9000 |
| Ending Cash balance | 17000 |
So answer is a) $17000
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