Use the following information to prepare the September cash budget for Wellow Company. It should show expected cash rece

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Use the following information to prepare the September cash
budget for Wellow Company. It should show expected cash receipts
and cash disbursement for the month and the cash balance expected
on September 30.

a. Beginning cash balance on September 1 is $70,000.
b. Cash receipts from sales are expected to be
$1,750,000.
c. Cash payments for direct materials and direct labor are
expected to be $346,000 and 650,000, respectively.
d. Cash selling and administrative expenses
budgeted for September are $370,000.
e. Bank loan interest due in September: 9,000.
f. Budgeted cash disbursements for salaries in September:
$242,000.
g. Budgeted depreciation, the only fixed overhead
estimated for September : $24,000. .
h. Loan payment of $60,000 should be made if the preliminary
cash balance is greater than $180,000.