Garfield Corp. expects to sell 1,300 units of its pet beds in March and 600 units in April. Each unit sells for $150. Garfield's ending inventory policy is 10 percent of the following month's sales. Garfield pays its supplier $50 per unit. Compute Garfield's budgeted purchases for March Total Cost of Budgeted Purchases References eBook & Resources

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Cash budget

A cash budget is an estimate of an organization's cash flow for the future period. A cash budget forecasts future cash receipts and payments from various sources for a fiscal year. A cash budget can be created once a month or once a week to determine the organization's cash position and ensure its performance in relation to the budget. It aids in determining whether the company has enough cash and cash equivalents to meet its operational needs in the future. If cash receipts are insufficient to cover future expenses, an organization may plan to obtain funds from other sources. After estimating the sales, purchase, and capital expenditure budgets for the year, management develops a cash budget. These budgets are created to ensure that an organization's cash flow is managed. It is important to note that only cash transactions are recorded when actual cash enters and exits an organization.