10 points Vidal Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During May, the kennel budgeted for 3,700 tenant-days, but its actual level of activity was 3,690 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for May: Vidal Kennel uses tenant-days as its measure of activity, an animal housed in the kennel for one day is counted as one tenant-day. During May, the kennel budgeted for 3,700 tenant-days, but its actual level of activity was 3,690 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for May Data used in budgeting: Fixed-Element Variable element per Month per tenant-day Revenue $ 26.40 $ $ Wages and salaries Food and supplies Facility expenses Administrative expenses Total expenses 2,500 1,300 8,600 6,800 19,200 6.10 9.70 2.60 0.40 18.80 $ Actual results for May Revenue Wages and salaries Food and supplies Facility expenses Administrative expenses $ 92,626 $ 23,919 $ 37,833 $ 18,594 S 8,386 Requirement: Prepare a flexible performance report for the month of May. Requirement: a) Prepare a sales budget for the month of July, August and 10 points September (2 marks). b) Prepare a cash collection from sales schedule for the month of July, August and September (2 marks). c) Prepare a production budget for the month of July, August and September (3 marks). d) Prepare raw materials purchase budget for the month of July, August and September (3 marks). ABC Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations: Budgeted selling price per unit $ 92 Budgeted unit sales (all on credit): July... 9,000 August... 11,300 September... 10,400 October 10,800 November 10,500 Raw materials requirement per unit of output 4 pounds Raw materials cost $ 1.00 per pound Credit sales are collected: 40% in the month of the sale 60% in the following month Raw materials purchases are paid: 30% in the month of purchase 70% in the following month The ending finished goods inventory should equal 20% of the following month's sales. Some 2000 units of finished goods was brought out from June. The ending raw materials inventory should equal 30% of the following month's raw materials production needs. Some 13,000 pounds of raw materials were brought out from June. At the end of June, accounts payable for raw materials purchases amounted to $8000