1) Save this file in EXCEL FORMAT on your PC, not in the Cloud. Your submission must be through eCampus and must be an EXCEL file (.xlsx). Be sure to save your 8 file before submitting to ensure your final changes are included. 9 2) Do not change rows or columns on this spreadsheet. The input areas in yellow and green are what will be graded. 3) ALL answers must be rounded using the ROUND function. Answers in YELLOW must be rounded to the nearest WHOLE NUMBER. Answers in GREEN must be 10 rounded to the nearest CENT (2 decimals). 11 4) You are REQUIRED to use Excel formulas and cell references in this spreadsheet to receive full credit. 12 13 14 Requirement 1: 15 Perfect Plants, Inc. makes large, outdoor decorative flower containers that have the look of clay but are made from a polyresin 16 material that is much more durable. The controller for the company is working on the budget for the coming fiscal year, which 17 begins April 1 18 19 Sales (units) are expected to increase each month by: 10% 20 21 Complete the Sales Budget for April - June and the quarter in total. 22 23 Sales Budget April May June 1st Quarter July August 24 Sales in units 3,400 25 Price per unit $ 75 $ 75$ 75 S 75 26 Total sales 27 28 29 Requirement 2: 30 Desired ending inventory: 15% of next months expected sales 31 32 Complete the Production Budget for April - June and the quarter in total. 33 34 Production Budget April May June 1st Quarter July Aug 35 Sales in units 36 Desired ending inventory 37 Total required 38 Beginning inventory 39 Total units to produce 40 41 42 Hint: The next three budgets are all manufacturing cost budgets, and use units to be produced, not sold. 43 Requirement 3: 44 The standard quantity of polyresin: 4 pounds per unit 45 The standard cost for polyresin: $ 5 per pound 46 Desired direct materials ending inventory: 20% of next months production Hint: You will need to calculate July's sales in units in order to calculate the desired ending inventory for June. April May June 1st Quarter July Aug Hint: You will need to calculate units to be produced for July in order to calculate the material needs for June. 49 50 Direct Materials Purchases Budget 51 Units to be produced 52 Pounds of direct material per unit produced 53 Total pounds needed for production 54 Desired ending inventory 55 Total material requirement 56 Beginning inventory 57 Total pounds to purchase 58 Cost per pound 59 Total cost of direct materials 60 61 62 Requirement 4: 63 Standard labor hours required: 64 Standard labor rate: 65 66 Complete the Direct Labor Budget below: 67 68 Direct Labor Budget 69 Units to be produced 70 Direct labor hours per unit 71 Total direct labor hours 72 Direct labor rate per hour 73 Total cost of direct labor 74 1 per unit 14 per hour $ April May June 1st Quarter
