1.Revise the following budgets:a.Sales budget,b.Production budget

2.Describe how the following budgets will be affected (without revising the budgets):

a.Direct materials budget

b.Direct labor budget

c.Manufacturing overhead budget

d.Cost of goods sold budget

e.Selling and administrative expense budget

qattachments_d899f06187bd0298003b86b9c3f97b2473ca4b3c Applied Learning Cost of Goods Sold Budget For the Year Ended December 31, 2019 Beginning inventory Tablets produced and sold in 2019 Total budgeted cost of goods sold First Second Quarter Quarter $40,000 34200 $171,000 $74,200 $171,000 Page 1 Third Quarter Fourth Quarter $182,400 $182,400 $136,800 $136,800 Total $40,000 524400 $564,400 qattachments_220bd7d442b3f966228f2011ca5c6d2c7edc7414 Applied Learning Direct Labor Budget For the Year Ended December 31, 2019 Budgeted tablets to be produced Direct labor hours per unit Direct labor hours needed for production Direct labor cost per hour Budgeted direct labor cost First Second Third Fourth Quarter Quarter Quarter Quarter 375 765 740 630 2 2 2 2 750 1530 1480 1260 $14 $14 $14 $14 $10,500 $21,420 $20,720 $17,640 Page 1 qattachments_220bd7d442b3f966228f2011ca5c6d2c7edc7414 Total 2510 2 5020 $14 $70,280 Page 2 qattachments_3c87dc30095456867160958b2d2d204e0d0f2ade Applied Learning Direct Materials Budget For the Year Ended December 31, 2019 Budgeted tablets to be produced Direct materials cost per unit Direct materials needed for production Plus: Desired direct materials in ending inventory Total direct materials needed Less: Direct materials in beginning inventory Budgeted purchases of direct materials Page 1 First Second Quarter Quarter 375 765 $120 $120 $45,000 $91,800 36720 35520 81720 127320 24000 36720 $57,720 $90,600 qattachments_3c87dc30095456867160958b2d2d204e0d0f2ade Third Fourth Quarter Quarter Total 740 630 2510 $120 $120 $120 $88,800 $75,600 $301,200 30240 36600 36600 119040 112200 337800 35520 30240 24000 $83,520 $81,960 $313,800 Page 2 qattachments_2d2a4c4d7cf27f36242def70fa004521338cb408 Applied Learning Manufacturing Overhead Budget For the Year Ended December 31, 2019 Budgeted tablets to be produced VOH cost per tablet Budgeted VOH Budgeted FOH Depreciation Utilities, insurance, property taxes Total budgeted FOH Budgeted manufacturing overhead costs First Second Third Fourth Quarter Quarter Quarter Quarter 375 765 740 630 $50 $50 $50 $50 $18,750 $38,250 $37,000 $31,500 2500 2500 2500 2500 16325 16325 16325 16325 18825 18825 18825 18825 $37,575 $57,075 $55,825 $50,325 Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate 750 Page 1 1530 1480 1260 qattachments_2d2a4c4d7cf27f36242def70fa004521338cb408 Total 2510 $50 $125,500 10000 65300 75300 $200,800 5020 $200,800 $40 Page 2 qattachments_d05962e4eeffa4dd2b1222e7e138f38fae122e9d Applied Learning Production Budget For the Year Ended December 31, 2019 Budgeted tablets to be sold Plus: Total tablets needed Less: Budgeted tablets to be produced Desired tablets in ending inventory Tablets in beginning inventory Page 1 First Second Third Quarter Quarter Quarter 350 750 800 225 240 180 575 990 980 200 225 240 375 765 740 qattachments_d05962e4eeffa4dd2b1222e7e138f38fae122e9d Fourth Quarter Total 600 2500 210 210 810 2710 180 200 630 2510 Page 2 qattachments_a74882a53125b22f0c0c790d314723abe5a8f8ac Applied Learning Sales Budget For the Year Ended December 31, 2019 First Quarter Budgeted tablets to be sold Sales price per unit Total sales Second Quarter 350 $400 $140,000 Third Quarter 750 $400 $300,000 Page 1 Fourth Quarter 800 $400 $320,000 Total 600 $400 $240,000 2500 $400 $1,000,000 qattachments_4bb7ab991b89625d044c3e1be8e34815a03ca662 Applied Learning Selling and Administrative Expense Budget For the Year Ended December 31, 2019 First Second Third Quarter Quarter Quarter $31,000 $31,000 $31,000 23000 23000 23000 2900 2900 2900 2000 2000 2000 2800 6000 6400 $61,700 $64,900 $65,300 Salaries Expense Rent Expense Insurance Expense Depreciation Expense Supplies Expense* Total budgeted selling and administrative expense * Supplies expense is 2% of sales revenue. Page 1 qattachments_4bb7ab991b89625d044c3e1be8e34815a03ca662 Fourth Quarter Total $31,000 $124,000 23000 92000 2900 11600 2000 8000 4800 20000 $63,700 $255,600 Page 2