The treasurer of unisyms company has accumulated the following budget

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The treasurer of Unisyms Company has accumulated the following budget information for the first two months of the coming year:

 

	March	April
Sales.	$450,000	$520,000
Manufacturing costs	290,000	350,000
Selling and administrative
expenses	41,400	46,400
Capital additions	250,000	—

The company expects to sell about 35% of its merchandise for cash. Of sales on account, 80% are expected to be collected in full in the month of the sale and the remainder in the month following the sale. One-fourth of the manufacturing costs are expected to be paid in the month in which they are incurred and the other three-fourths in the following month. Depreciation, insurance, and property taxes represent $6,400 of the probable monthly selling and administrative expenses. Insurance is paid in February and a $40,000 installment on income taxes is expected to be paid in April. Of the remainder of the selling and administrative expenses, one-half are expected to be paid in the month in which they are incurred and the balance in the following month. Capital additions of $250,000 are expected to be paid in March.

Current assets as of March 1 are composed of cash of $45,000 and accounts receivable of $51,000. Current liabilities as of March 1 are composed of accounts payable of $121,500 ($102,000 for materials purchases and $19,500 for operating expenses). Management desires to maintain a minimum cash balance of $20,000.

Prepare a monthly cash budget for March and April.

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Unisyms Company				Unisyms Company
Schedule of Collections from Sales				Cash Budget
For Two Months Ending April 30				For Two Months Ending April 30
	March	April			March	April
Cash Sales:	$157,500	$182,000		Estimated Cash receipts from:
				Cash Sales	$157,500	$182,000
Sales on Account:				Collections of accounts receivable	$285,000	$328,900
Collection from month prior sales	$51,000	$58,500		Total cash receipts	$442,500	$510,900
Collection from current month’s sales	$234,000	$270,400		Estimated cash payments for:
Total Sales on Account	$285,000	$328,900		Manufacturing costs	$174,500	$305,000
				Selling and administrative expenses	$37,000	$37,500
				Capital additions	$250,000
Unisyms Company				Note Payable
Schedule of Payments for Manufacturing Costs				Dividends
For Two Months Ending April 30				Income taxes		$40,000
	March	April		Total cash payments	$461,500	$382,500
Payments of prior month’s manufacturing costs	$102,000	$217,500		Cash increase (decrease)	($19,000)	$128,400
Payments of current month’s manufacturing costs	$72,500	$87,500		Cash balance at beginning of month	$45,000	$26,000
Total Payments	$174,500	$305,000		Cash balance at end of month	$26,000	$154,400
				Minimum cash balance	$20,000	$20,000
				Excess (deficiency)	$6,000	$134,400
Unisyms Company
Schedule of Payments for Selling & Admin Expenses
For Two Months Ending April 30
	March	April
Payments of prior month’s manufacturing costs	$19,500	$17,500
Payments of current month’s manufacturing costs	$17,500	$20,000
Total Payments	$37,000	$37,500
	March	April
Sales:	$450,000	$520,000
Manufacturing Costs:	$290,000	$350,000
Selling & Admin Expenses:	$41,400	$46,400
Capital Additions:	$250,000
Total Sales on Account:	$292,500	$338,000
March 1 Current Assets:
Cash:	$45,000
Accounts Receivable:	$51,000
March 1 Current Liabililities:
Accounts Payable:	$121,500
Materials Purchased:	$102,000
Operating Expenses:	$19,500