The treasurer of unisyms company has accumulated the following budget

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I already have the question completed to my best ability, but am just looking for someone to double check it.
Here’s the question again in case it didn’t go through on the little bar above, and my answer is posted below:

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

 

March

April

Sales.

$450,000

$520,000

Manufacturing costs

 290,000

  350,000

Selling and administrative
 
 

  expenses

   41,400

  46,400

Capital additions

 250,000

 
 
 

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.
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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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