1. Office Furniture sells computer desks. The following estimates were made for 2023 . Selling price to each retailer is $150 per desk. Expected demand (units) Inventory on April 1 is 3,000 desks. Planned ending inventory for each month is 40 percent of the sales for next month. Materials and Labour requirement for each desk: Two keyboard tracks cost $1.75 per pair of tracks Twenty-seven sq ft of flat top surface for top, sides, and keyboard tray. Each square foot of flat top surface will cost $2.50. Fifteen dowels at $0.75 per dowel. Four legs and mounting plates are purchased for $5.25 per package of four and mounting plates 30 minutes of labour. Labour cost is $20 per hour plus benefits of 28%. April 1, beginning inventory of desk components: 1,200 pairs of keyboard tracks 14,000sqft of flat top surface 16,000 dowels 1,000 of legs with mounting plates Planned ending inventory for each month for each component is 25 percent of production needs for the subsequent month. Collection of sales is 25% in the month of sale 40% in the subsequent month and 35% two months after sale. Retailers who pay in the month of sale receive a 5% discount. Budgeted sales for January, February, and March were 1,000, 1,500, and 2,000 units respectively. Payment of purchases are 20% in the month of purchase 35% in the subsequent month and 45% two months after purchase. A 10 percent discount is provided by suppliers for purchases paid in the month of purchase. Purchases of 1,000 pair of keyboard tracks, 6,000sqft of flat top surface, 1,200 dowels and 2,500 legs with mounting plates were made for each month of January, February, and March The selling price per desk has not changed since the beginning the year. The cost per unit for months January, February and March is the same as the cost per unit for April. Variable manufacturing overhead rate is $6 per labour hour. Budgeted fixed manufacturing overhead is $25,000 per month including depreciation of $5,000. Fixed manufacturing overhead per month is allocated to each unit based on the budgeted number of units produced each month. $4,500 loan payment per month. $4,500 loan payment per month. Operating expenses $130,000 per month. Capital expenditures of $60,000 are planned for August. Prepare: a. Revenue budget for April to September. Include total column b. Budgeted production for April to September. Include total column c. Budgeted purchases (Quantity and dollars) for April to September for each component. Include total column for each item purchased. d. Budgeted cash collections for April to September. e. Labour budget for April to September. Asstining each worker will work 35-hour work week how many workers will be needed each month. f. Budgeted cash payments for April to September. g. Balance in accounts payable and accounts receivable at the end of September. h. Cost per unit for each month using full costing. i. Cost of ending inventory for each ingredient and for finished product on September 30. Round cost per finished good to three decimal places. j. Cost of goods sold for each month April to September. Include total column for the period. k. Gross profit and gross profit margin for each month April to September. Include total column for the period. I. Beginning cash April 1 is $15,000. Prepare cash budget for April to September and in total for the period. Minimum cash balance each month should be $15,000. Advise if any borrowings is required. If any borrowings is required interest rate is 6.5%. Repayment will occur when funds are available m. Rework amounts assuming selling price changes to $125 per unit 1. Office Furniture sells computer desks. The following estimates were made for 2023 . Selling price to each retailer is $150 per desk. Expected demand (units) Inventory on April 1 is 3,000 desks. Planned ending inventory for each month is 40 percent of the sales for next month. Materials and Labour requirement for each desk: Two keyboard tracks cost $1.75 per pair of tracks Twenty-seven sq ft of flat top surface for top, sides, and keyboard tray. Each square foot of flat top surface will cost $2.50. Fifteen dowels at $0.75 per dowel. Four legs and mounting plates are purchased for $5.25 per package of four and mounting plates 30 minutes of labour. Labour cost is $20 per hour plus benefits of 28%. April 1, beginning inventory of desk components: 1,200 pairs of keyboard tracks 14,000sqft of flat top surface 16,000 dowels 1,000 of legs with mounting plates Planned ending inventory for each month for each component is 25 percent of production needs for the subsequent month. Collection of sales is 25% in the month of sale 40% in the subsequent month and 35% two months after sale. Retailers who pay in the month of sale receive a 5% discount. Budgeted sales for January, February, and March were 1,000, 1,500, and 2,000 units respectively. Payment of purchases are 20% in the month of purchase 35% in the subsequent month and 45% two months after purchase. A 10 percent discount is provided by suppliers for purchases paid in the month of purchase. Purchases of 1,000 pair of keyboard tracks, 6,000sqft of flat top surface, 1,200 dowels and 2,500 legs with mounting plates were made for each month of January, February, and March The selling price per desk has not changed since the beginning the year. The cost per unit for months January, February and March is the same as the cost per unit for April. Variable manufacturing overhead rate is $6 per labour hour. Budgeted fixed manufacturing overhead is $25,000 per month including depreciation of $5,000. Fixed manufacturing overhead per month is allocated to each unit based on the budgeted number of units produced each month. $4,500 loan payment per month. $4,500 loan payment per month. Operating expenses $130,000 per month. Capital expenditures of $60,000 are planned for August. Prepare: a. Revenue budget for April to September. Include total column b. Budgeted production for April to September. Include total column c. Budgeted purchases (Quantity and dollars) for April to September for each component. Include total column for each item purchased. d. Budgeted cash collections for April to September. e. Labour budget for April to September. Asstining each worker will work 35-hour work week how many workers will be needed each month. f. Budgeted cash payments for April to September. g. Balance in accounts payable and accounts receivable at the end of September. h. Cost per unit for each month using full costing. i. Cost of ending inventory for each ingredient and for finished product on September 30. Round cost per finished good to three decimal places. j. Cost of goods sold for each month April to September. Include total column for the period. k. Gross profit and gross profit margin for each month April to September. Include total column for the period. I. Beginning cash April 1 is $15,000. Prepare cash budget for April to September and in total for the period. Minimum cash balance each month should be $15,000. Advise if any borrowings is required. If any borrowings is required interest rate is 6.5%. Repayment will occur when funds are available m. Rework amounts assuming selling price changes to $125 per unit