{'9 ACCT 3224 | Fall 2023 . , .. g. Budgeting Assignment him-"ii "I???\" '111 ' I Sections 2 and 3 Instructions: . Due by December 3, 2023, at 11:59 PM. . Must be done in groups of 5 to 5 using Excel or a similar worksheet program. Each group must hand in a printout and upload the Excel le on D2L. . I will be using software to detect plagiarism [copying of other people's work}. Any instance of plagiarism will result in a mark of ZERD and additional sanctions as per MRU policies. Arragon Ltd. is a company that manufactures and sells a single product called Zoltar. For planning and control purposes they utilize a monthly master budget, which is developed in advance of the budget year. Their scal year end is April 30. The sales forecast consisted of these few lines: .. For the year ended April 3t], 2523: 500.1300 units at $2100 each* .. For the year ended April 35, 2524: EBDDUD units at $2B.DD each a For the year ended April 30, 2525: ESE-[1,500 units at $29.00 each *Sales for the year ended April 312], 2523 are based on actual sales to date and budgeted sales for the duration of the year. Your investigations of the company's records have revealed the following information: 1. Sales are seasonal with January, May. July and September being the slowest months with only 5% of sales for each month. February, March, August and December each contribute 3% to the total sales. April and .June each account for 15% of total sales. Sales in IDctober account for 13% of the total and peak at 15% in November. This pattern of sales is consistent with 2523 and is not expected to change in the next two years. *Sales for the year ended April 3D, 2G23 are based on actual sales to date and budgeted sales for the duration of the vear. Your investigations of the company's records have revealed the following information: 1. Sales are seasonal with January, lvlav. Julv and September being the slowest months with onlyr 5% of sales for each month. February, March. August and December each contribute 3% to the total sales. April and June each account for 1D% of total sales. Sales in IIZlctober account for 13% of the total and peak at 15% in November. This pattern of sales is consistent with 2(123 and is not expected to change in the next two years. 2. Sales are on a cash and credit basis. with 4D% collected during the month of the sale, 45% the following month. and 14% the month thereafter, with 1% of total sales considered uncollectible [bad debt expense}. Sales in March and April 2D23 are expected to be $1 .296,DDD and $1,82 respectivelv. This collection pattern is consistent with 223 and is not expected to change in the next two years. 3. From previous experience. management has determined that an ending inventory equal to 25% of the next month's sales is required to t the buyer's demands