Reference no: EM131735255
WileyPLUS Problem
Nadia Company expects to have a cash balance of $44,900 on January 1, 2016. Nadia has budgeted the following for the first two months of the year 2016:
1. Collections from customers: January $90,200; February $110,200.
2. Payments to suppliers: January $39,900; February $50,100.
3. Direct labour: January $30,200; February $34,800. Wages are paid in the month they are incurred.
4. Manufacturing overhead: January $25,000; February $29,900. Overhead costs are paid as incurred.
5. Selling and administrative expenses: January $16,200; February $21,900. 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.
Prepare a cash budget for January and February.
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