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master electronics company uses flexible budgets that are based on the following dat 647736

At the beginning of the 2008 school year, Monroe Baker decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget:

Cash balance, September 1 (from a summer job)

$6,500

Purchase season football tickets in September

140

Additional entertainment for each month

225

Pay fall semester tuition on September 3

3,500

Pay rent at the beginning of each month

350

Pay for food each month

215

Pay apartment deposit on September 2 (to be returned Dec. 15)

600

Part time job earnings each month (net of taxes)

800

a. Prepare a cash budget for September, October, November, and December.

b. Are the budgets prepared as static budgets or flexible budgets?

c. What are the budget implications for Monroe Baker?

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