Unformatted text preview: Wages total $20,000 each month and are paid on the last day of the month. Overhead is budgeted at $15,000 per month which includes $2,000 of depreciation. A new machine was purchased in July costing $4,000. A dividend of $1,100 was declared on June 30 and paid on July 15. The cash balance on July 1 is $27,000. Answer the following questions related to the cash budgeting process. Uncollectible sales for May = Cash sales for July = Cash receipts from accounts receivable in July = Total cash available in July = July cash payments for direct material purchases = Total disbursements for July = Anticipated cash balance on July 31 =...
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- Fall '07
- Managerial Accounting, raw material