Business, 05.08.2020 04:01 jruiz33106

Tom and Lynda also inform you that the monthly individual membership fee is $100and that the monthly family membership fee is $160. Hercules offers a 10% discount if amember pays the entire year’s fee in a lump sum. About 180 individuals and 60 families takeadvantage of this offer – these numbers are spread evenly throughout the year. Herculespays for 60% of its purchases during the month of the purchase, and the remainder thenext month. Other variable costs (paid in cash) amount to $25 per month for each individualmembership and $45 per month for each family membership. Hercules also incurs$41,000 (which includes $12,500 in depreciation) toward fixed costs each month. Finally, Tom and Lynda inform you that they have to pay $20,000 toward the purchase of newequipment in September, and that they take out $15,000 each month as their profit. Finally, Hercules began September with a cash balance of $6,000.Required:What is Hercules’ cash budget for September?

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