The treasurer of unisyms company has accumulated the following budget

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The treasurer of Unisyms Company has accumulated the following budget information for the first two months of the coming year:








Manufacturing costs



Selling and administrative    



Capital additions



The company expects to sell about 35% of its merchandise for cash. Of sales on account, 80% are expected to be collected in full in the month of the sale and the remainder in the month following the sale. One-fourth of the manufacturing costs are expected to be paid in the month in which they are incurred and the other three-fourths in the following month. Depreciation, insurance, and property taxes represent $6,400 of the probable monthly selling and administrative expenses. Insurance is paid in February and a $40,000 installment on income taxes is expected to be paid in April. Of the remainder of the selling and administrative expenses, one-half are expected to be paid in the month in which they are incurred and the balance in the following month. Capital additions of $250,000 are expected to be paid in March.

Current assets as of March 1 are composed of cash of $45,000 and accounts receivable of $51,000. Current liabilities as of March 1 are composed of accounts payable of $121,500 ($102,000 for materials purchases and $19,500 for operating expenses). Management desires to maintain a minimum cash balance of $20,000.

Prepare a monthly cash budget for March and April.



Unisyms Company   Unisyms Company
Schedule of Collections from Sales   Cash Budget
For Two Months Ending April 30   For Two Months Ending April 30
  March April     March April
Cash Sales: $157,500 $182,000   Estimated Cash receipts from:    
             Cash Sales $157,500 $182,000
Sales on Account:            Collections of accounts receivable $285,000 $328,900
     Collection from month prior sales $51,000 $58,500             Total cash receipts $442,500 $510,900
     Collection from current month’s sales $234,000 $270,400   Estimated cash payments for:    
Total Sales on Account $285,000 $328,900        Manufacturing costs $174,500 $305,000
        Selling and administrative expenses $37,000 $37,500
        Capital additions $250,000  
Unisyms Company   Note Payable    
Schedule of Payments for Manufacturing Costs   Dividends    
For Two Months Ending April 30   Income taxes   $40,000
  March April        Total cash payments $461,500 $382,500
Payments of prior month’s manufacturing costs $102,000 $217,500   Cash increase (decrease) ($19,000) $128,400
Payments of current month’s manufacturing costs $72,500 $87,500   Cash balance at beginning of month $45,000 $26,000
Total Payments $174,500 $305,000   Cash balance at end of month $26,000 $154,400
        Minimum cash balance $20,000 $20,000
        Excess (deficiency) $6,000 $134,400
Unisyms Company        
Schedule of Payments for Selling & Admin Expenses        
For Two Months Ending April 30        
  March April        
Payments of prior month’s manufacturing costs $19,500 $17,500        
Payments of current month’s manufacturing costs $17,500 $20,000        
Total Payments $37,000 $37,500        
  March April        
Sales: $450,000 $520,000        
Manufacturing Costs: $290,000 $350,000        
Selling & Admin Expenses: $41,400 $46,400        
Capital Additions: $250,000          
Total Sales on Account: $292,500 $338,000        
March 1 Current Assets:            
Cash: $45,000          
Accounts Receivable: $51,000          
March 1 Current Liabililities:            
Accounts Payable: $121,500          
Materials Purchased: $102,000          
Operating Expenses: $19,500          
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