Managerial Accounting
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Francis Manufacturing Co. is currently preparing its cash budget for next month and has gathered the following info.:
Expected cash receipts.....................$39,400
Expected disbursements:
Direct materials...........................$12,000
Direct labor...............................$9,000
Manufacturing overhead.....................$11,500
Selling and administrative expenses........$22,000
The beginning cash balance will be $6,000 and the company requires a minimum cash balance at the end of the month of $5,000. How much will the company NEED TO BORROW to meet its cash needs for the month?
A)$9,100
B)$14,100
C)$20,100
D)None of the above.
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