n March 1 of the current year, Spicer Corporation compiled information to prepare a cash budget for March, April, and May. All of the ompany's sales are made on account The following information has been provided by Spicer's management. Month Credit Sales January February March $ 300,000 (actual) 400,000 (actual) 464,000 (estimated) 625,000 (estimated) 800,000 (estimated) April May The company's collection activity on credit sales historically has been as follows. Collections in the month of the sale Collections one month after the sale 50% 30 Collections two months after the sale Uncollectible accounts 15 5. Spicer's total cash expenditures for March, April, and May have been estimated at $1,200,000 (an average of $400,000 per month). Its cash balance on March 1 of the current year is $500,000. No financing or investing activities are anticipated during the second quarter. Compute Spicer's budgeted cash balance at the ends of March, April, and May. Cash balance on March 31 Cash balance on April 30 Cash balance on May 31

Is participative budget more favorable than impose budget? Justify your answer

How do you maintain accurate and complete reporting of a budget? And how do you set up guardrails for a budget?

Why are budgets so important for all organizations, and what are some advantages and disadvantages to budgeting?