1 Allocate the annual budget, on a quarterly basis, over the year, given the information below:

(a) Sales - 30% of sales occur in December. The balance of sales occur equally over the remaining 11 months

(b) Rental income is earned equally over the year

(c) 25% of grants and donations are received in March, June, Sept and Dec

(d) User fees are earned in June and July - 25% in June and 75% in July

(e) Miscellaneous revenue is earned completely in December

(f) Salaries are paid equally over the year

(g) Wages allow the company to hire 4 summer students over the months of May to August (an equal amount is spent each month during that period)

(h) Benefits expense is 10.34% of monthly budgeted salaries

(i) Monthly materials expense in incurred in the same proportion as sales [see (a)]

(j) Contracted services are incurred equally in August and September

(k) Utilities, rent and insurance expenses are incurred equally in each month

(l) 50% of advertising expenses are incurred in Nov and Dec. The remaining 50% is spent equally over the balance of the year.

(m) Travel expenses are incurred 50% in May and 50% in October

(n) The years total supplies are purchased in January

NOTE: Total budget allocations must agree with the total 2020 budget provided. Any required rounding should be done in the last quarter allocation.