Items 2-7 are based on the following information Pasal Company has just prepared its master budget for the year 2015. Some of the information used in the preparation of such budget is as follows: 1....

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Extracted text: Items 2-7 are based on the following information Pasal Company has just prepared its master budget for the year 2015. Some of the information used in the preparation of such budget is as follows: 1. Budgeted sales: January P 480,000 February 520,000 March 560,000 April 500,000 May 576,000 June 640,000 2. Twenty percent of total sales is cash sales. The collections pattem for the sales on credit is as follows: 30% in the month of sale 40% in the month after the month of sale 25% in the second month after the month of sale 3. Pasol Company's gross margin rate is 60% of sales. 4. Accounts payable arising from merchandise purchases is paid for in the month following the purchase 5. The company desires an inventory at the end of each month equal to 30% of the next month's sales in units. 6. The variable operating expenses (other than cost of goods sold) are 10% of sales and are paid for in the month following the sale. 7. The annual fixed operating expenses are as follows: Depreciation P 336,000 Advertising 576,000 Insurance 144,000 Salaries 864,000 Property taxes 192,000 8. All of the fixed operating expenses are incurred uniformly throughout the year. Cash fixed operating expenses are paid in the month of incurrence, except for: - Insurance – paid quarterly in January, April and July


Extracted text: - Property taxes - paid twice a year in April and October 2. The budgeted cash collections in March for the sales made in March is 3. The budgeted cash receipts for the month of April is 4. The budgeted purchases of merchandise for February is 5. The budgeted cash disbursements for operating expenses (other than cost of goods sold) during the month of April is 6. The budgeted cash disbursements to be made in April for merchandise purchases is 7. Assume that the expected cash balance at the beginning of April is P 51,600. How much is the hudgeted cash balance as of April 30?