Sabuero, Arturo Jr.

B BSIE – 3B

A.

Quincy Company
Schedule of Collections from Sales
For the Three Months Ending March 31

__________________________________________________January__ _February___ March___

Cash Collections from prior months sales $97,500 $114,000 $120,000

Cash collections from current month sales 76,000 80,000 84,000
Total cash collections from sales $173,500 $194,000 $204,000

B.

Quincy Company
Schedule of Payments for Manufacturing Costs
For the Three Months Ending March 31

__________________________________________________January__ _February___ March___

Payment of prior months costs $36,700 $36,800 $46,400

Payment of current months costs 55,200 69,600 85,200
Total manufacturing cost cash payments $91,900 $106,400 $131,600

C.

Quincy Company
Cash Budget
For the Three Months Ending March 31

__________________________________________________January__ _February___ March___

Estimated cash receipts $173,500 $194,000 $204,000

Less estimated cash payments for:
Manufacturing costs $(91,900) $(106,400) $(131,600)
Selling and administrative expenses (72,000) (70,000) (75,000)
Total Cash payments $(163,900) $(176,400) $(206,600)
Cash Increase (decrease) $ 9,600 $ 17,600 $ (2,600)
Plus cash balance at beginning of month 26,000 35,600 53,200
Cash balance at the end of month $ 35,600 $ 53,200 $ 50,600
Less minimum cash balance (20,000) (20,000) (20,000)
Excess (Deficiency) $ 15,600 $ 33,200 $ 30,600