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Prepare a cash budget for january and february

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Question - Nadia Company expects to have a cash balance of $44,500 on January 1, 2020. Nadia has budgeted the following for the first two months of the year 2020:

1. Collections from customers: January $89,600; February $110,400.

2. Payments to suppliers: January $39,600; February $49,900.

3. Direct labour: January $29,900; February $34,700. Wages are paid in the month they are incurred.

4. Manufacturing overhead: January $25,100; February $30,300. Overhead costs are paid as incurred.

5. Selling and administrative expenses: January $16,100; February $22,100. These costs do not include depreciation and they are paid as incurred.

6. Sales of investments in January are expected to realize $10,100 in cash. Nadia Company wants to keep a minimum monthly cash balance of $20,000.

Required - Prepare a cash budget for January and February.

Reference no: EM133166395

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