MBA 6100 â Case Study #2Requirement #1Given the following information for Jawa Corp. prepare a full cash budget for the months of April, May,and June.Sales in UnitsFebMarAprMayJuneJuly10,00012,00015,10016,25016,67516,000All units are sold at a price of $24.75, with a per unit cost of $13.50. Sales are collected as follows: 60%month of sale, 30% month after sale and remainder 2 nd month after sale. Purchases of materials, whichaccount for 50% of the product cost (remainder of the product cost is Factory worker wages) are paid for75% month of purchase and 25% month after purchase. Materials are purchased a month in advance.In addition the following are paid monthly: Building Lease $21,750, Office salaries $10,500,Management Salaries $20,000, Trash removal $1,500, Utilities based on a rate of 20 cents per unit,Payroll taxes at the rate of 7.65% (paid on all wages), Equipment maintenance based on a rate of 35cents per unit.The company will also be making the following payments: May Insurance payment for the months ofMay-July $15,000, In April Income tax deposit of $30,000, the company will declare a quarterly dividendin May to be paid June 15th of $25,000, Employee first aid training at a cost of $2,500 is planned for July.Depreciation is $21,265 per month based on straight line and Income taxes are based on an averageeffective tax rate of 11.50%.At the start of April the company had a cash balance of $35,450.Requirement #2Based on the previous information prepare a traditional income statement (in proper format) for themonth of June.Requirement #3The company likes to maintain a cash balance of $30,000 at all times. They are considering purchasingnew machinery at the beginning of July at a cost of $175,000. Do they have a sufficient amount of cashon hand to make this purchase or would they need to make arrangements for any financing?Requirement #4Given that the company has the following dividend policy:Dividends are paid quarterly based on the annual rate of $2.00 per share.How many shares of stock are currently outstanding?
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