6. Prepare the cash budget for April. Assume the company does not use short-term financing to maintain a minimum cash balance. 7. Prepare the budgeted income statement for April. 8. Prepare the budgeted balance sheet at April 30, 2018. Print Done Assets Current Assets Cash Accounts Receivable 50,700 15,500 12,000 $ 78,200 Merchandise Inventory Total Current Assets Property, Plant, and Equipment: Equipment and Fixtures Less: Accumulated Depreciation 80,500 (12,900) $ 67,600 145,800 8,600 Total Assets Liabilities Current Liabilities: Accounts Payable Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 38,000 99,200 137,200 145,800 $ Print Done Total cash payments Ending cash balance Requirement 7. Prepare the budgeted income statement for April Review the sales budget you prepared above. Review the selling and administrative expense budget you prepared above. Review the inventory, purchases, and cost of goods sold budget you prepared above. Alliance Printing Supply Budgeted Income Statement For the Month Ended April 30, 2018 Gross Profit Selling and Administrative Expenses: Total Selling and Administrative Expenses Choose from any list or enter any number in the input fields and then continue to the next question (Click the icon to view Total Current Assets Property, Plant, and Equipment: Total Assets Liabilities Current Liabilities: Total Liabilities Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity Suppose Fine Cuisine restaurant is considering whether to (1) bake bread for its restaurant in-house or (2) buy the bread from a local bakery. The chef estimates that variable costs of making each loaf include $0.52 of ingredients, $0.27 of variable overhead (electricity to run the oven), and $0.76 of direct labor for kneading and forming the loaves. Allocating fixed overhead (depreciation on the kitchen equipment and building) based on direct labor, Fine Cuisine assigns $1.06 of fixed overhead per loaf. None of the fixed costs are avoidable. The local bakery would charge $1.68 per loaf. Requirement 1. Prepare the sales budget for April Alliance Printing Supply Sales Budget For the Month Ended April 30, 2018 Total budgeted sales 89000 Requirement 2. Prepare the inventory, purchases, and cost of goods sold budget for April. Alliance Printing Supply Inventory, Purchases, and cost of Goods Sold Budget For the Month Ended April 30, 2018 Cost of goods sold 35600 Plus: Desired ending merchandise inventory 22400 Total merchandise inventory required 58000 Less: Beginning merchandise inventory 12000 46000 Budgeted Purchases Requirement 3. Prepare the selling and administrative expense budget for April. Choose from any list or enter any number in the input fields and then continue to the next question 6. Prepare the cash budget for April. Assume the company does not use short-term financing to maintain a minimum cash balance. 7. Prepare the budgeted income statement for April. 8. Prepare the budgeted balance sheet at April 30, 2018. Print Done Assets Current Assets Cash Accounts Receivable 50,700 15,500 12,000 $ 78,200 Merchandise Inventory Total Current Assets Property, Plant, and Equipment: Equipment and Fixtures Less: Accumulated Depreciation 80,500 (12,900) $ 67,600 145,800 8,600 Total Assets Liabilities Current Liabilities: Accounts Payable Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 38,000 99,200 137,200 145,800 $ Print Done Total cash payments Ending cash balance Requirement 7. Prepare the budgeted income statement for April Review the sales budget you prepared above. Review the selling and administrative expense budget you prepared above. Review the inventory, purchases, and cost of goods sold budget you prepared above. Alliance Printing Supply Budgeted Income Statement For the Month Ended April 30, 2018 Gross Profit Selling and Administrative Expenses: Total Selling and Administrative Expenses Choose from any list or enter any number in the input fields and then continue to the next question (Click the icon to view Total Current Assets Property, Plant, and Equipment: Total Assets Liabilities Current Liabilities: Total Liabilities Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity Suppose Fine Cuisine restaurant is considering whether to (1) bake bread for its restaurant in-house or (2) buy the bread from a local bakery. The chef estimates that variable costs of making each loaf include $0.52 of ingredients, $0.27 of variable overhead (electricity to run the oven), and $0.76 of direct labor for kneading and forming the loaves. Allocating fixed overhead (depreciation on the kitchen equipment and building) based on direct labor, Fine Cuisine assigns $1.06 of fixed overhead per loaf. None of the fixed costs are avoidable. The local bakery would charge $1.68 per loaf. Requirement 1. Prepare the sales budget for April Alliance Printing Supply Sales Budget For the Month Ended April 30, 2018 Total budgeted sales 89000 Requirement 2. Prepare the inventory, purchases, and cost of goods sold budget for April. Alliance Printing Supply Inventory, Purchases, and cost of Goods Sold Budget For the Month Ended April 30, 2018 Cost of goods sold 35600 Plus: Desired ending merchandise inventory 22400 Total merchandise inventory required 58000 Less: Beginning merchandise inventory 12000 46000 Budgeted Purchases Requirement 3. Prepare the selling and administrative expense budget for April. Choose from any list or enter any number in the input fields and then continue to the next