(Answered) Deitz corporation is projecting a cash balance of 37620 in

Accounting

Deitz Corporation is projecting a cash balance of $37,620 in its December 31, 2016, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2017 shows total collections of $231,990. The schedule of expected payments for direct materials for the first quarter of 2017 shows total payments of $53,922. Other information gathered for the first quarter of 2017 is sale of equipment $3,762; direct labor $87,780, manufacturing overhead $43,890, selling and administrative expenses $56,430

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