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Morgan's Fine Meats Co. has the following information for the second quarter of 2012:
The minimum cash balance for any month is $10,000.
Prepare a cash budget for the second quarter of 2012, showing any excess cash or any financing needed. Any interest on the financing will be deferred until the fiscal year end in December. Assume that any cash in excess of the $10,000 is invested and deducted from the cash account.
Forming Department
A specific section of a manufacturing or production facility where raw materials are shaped or formed into parts for further assembly or processing.
Solver
A software tool that finds the optimal solution to a mathematical model or equation, often used in optimization and decision-making processes.
Number of Hours
The total amount of time, counted in hours, spent or required for a particular activity or process.
Monthly Profit
The net amount of money gained by a business during a one-month period after all expenses have been paid.
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