Mary's Dairy has the following information available for the preparation of the cash budget for the second quarter:
Cost of Goods Sold is 80% of Sales; all cash
Operating expenses is 8% of Sales; all cash
Income tax rate is 30%
The minimum cash balance for any month is $10,000.
Prepare a cash budget for each month in the second quarter for this company.No additional equipment will be purchased this quarter.

Question

Mary's Dairy has the following information available for the preparation of the cash budget for the second quarter:
  Cost of Goods Sold is 80% of Sales; all cash
Operating expenses is 8% of Sales; all cash
  Income tax rate is 30%
The minimum cash balance for any month is $10,000.
Prepare a cash budget for each month in the second quarter for this company.No additional equipment will be purchased this quarter.

Quizplus · Accepted Answer

The Answer of Mary's Dairy has the following information available for the preparation of the cash budget for the second quarter:
  Cost of Goods Sold is 80% of Sales; all cash
Operating expenses is 8% of Sales; all cash
  Income tax rate is 30%
The minimum cash balance for any month is $10,000.
Prepare a cash budget for each month in the second quarter for this company.No additional equipment will be purchased this quarter.

Mary's Dairy Has the Following Information Available for the Preparation