ACC75012 Project Student W21(M[Protected View] - Excel Tell me what you want to do. File Home Insert Page Layout Formulas Data Review View 2 Share 0 PROTECTED VIEW Be careful files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected Vicw. Enable Editing X H37 f 756000 G M N o P 5 T U 7 A E F H 1 J K L 3 Fine Office Company Maricing Rubric Tab Max. Points Group Points 5 Fine Office Company makes office furniture for offices. They are in the process of preparing Sales 5. Master Budget including the Operating budget. Cast Statement, Income Statement Production 10 7 and Balance Sheet for 2021. The yearly budget is broken into quarters. The year endis Dir. Materials 131 0 3 31st December 2021. Your group has been requested to compile a master budget for the Dir. Labour 5 0 9 fiscal year 2021. Manufacturing OH 18 o 10 Package Is to include the following budgets; Cost of Ending Finished inv. . 12 0 11 1. Sales budget for each quarter and for the year COGS 14 0 12 2. Production budget for each quarter and for the year Selling Admin & 17 a 13 3. Purchasing Budget for each cuarter and for the year US 18 0 14 4. Direct labour budget for each quarter and for the year CVP I/S 10 0 15 5. Manufacturing overhead budget for each quarter and for the year Cash 32 16 G. Sciling and Administration budget Cash Worksheets 14 0 17 7. Worksheets for Collections and Disbursements B/S 24 0 18 8.Budgeted Income Statement Total 200 7 19 9. CVD income Statement 2010. Budgeted Cash Statement 2 11. Budgeted Balance Sheel details: 23. Fine 22 Additioncorreny produces two products P100 and 200 24. sales price per 100 IS S000 2. Sales prica per 200 is $090 26. There are 300 units from P100 in finished goods inventory at the end of 2020 with a value of $ 350,000 and soo units fram P200 at the end 27 of 2000 val. 300,000. At the end of each cuarter, Fine Office Company requires ending inventory to be equal to 5% of the following quarter's buttgated sales in units 28 The required ending inventory for Dec 31, 2021 se 500 units for P100 and 400 units for P200 29. Each 200 units 60 34. ft. of steel during the manufacturing process. The cost of steel for 2021 is estimated to be s sper soft 30 Each P200 unit uses 90 sq. ft. of steel during the manufacturing process. 31. Fine Office Company currently hes 30,000 sq. ft. of steel in the beginning inventory. At 32 the end of each quarter, Fine Office Company wants to have 43,000 sq. ft. ofending 33 inventory. 34 . Each product requires 4.B machine hours and D2.4 direct labour hesta produce 35 Direct Labour costs $16.B per direct labour hour 36. Fine Office Company allocales metuscturing overhead wis based on the estimated machine 37 hours. Estimated manufacturing overhead cost for 2021 are $ 750,000 and are all variable . 28 . For each quarter, it is estimated that 40 of sales will be cash and 00 29 % the quarter of the 40 following quarter, Credit sales from 04 2020 were will be credit sales. Of the credit cales, 80% pay in and 20 pay in the $1,300,000 41. Direct labour costs and manufacturing overhead casts are paid for in cash in the quarter they 42 occurred. 43. Assume operating experises our evenly throughout the year and are all paid in cost. 44. For each quarter, 10 of material purchases are paid for in cash in the quarter of 45 the purchase and 30% are paid in the following quarter. Purchases of materials from Instructions Sales Budget Production Budget Direct materials Budget Direct Labour budget Manutacturing... | Ready > 1 + 795 ACC75012 Project Student W21(M) [Protected View] - Excel File Home Insert Page Layout Formulas Data Review View Tell me what you want to do Share O PROTECTED VIEW Bc cancful files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected Vicw. Enable Editing H37 > f 756000 J L M N o P R 5 T U 37001 0912 A B D E F H 1 45 the purchase and 30% are paid in the following quarter. Purchases of materials from % 46 04 2020 were $1,500,000 47 48 Fine Office Company 49 50 Additional details continued: 51 . Fine Office Company will pay $60,000 in dividends in 24 52. Currently, the cash balance in the bank is $15.000. Fine Office Comaany wants to maintain 53 minimum cash balance of $10,000 in the bank for each quarter, 54. Budgeted sales volumes are 55 P100 01 51001 QZ 5320 03 5400 36 200 01 6192 O2 03 6480 94 57. Selling and Administration expenses for the budgeted year are as follows: 58 Variable Cost: .54 Delivery costs are based on 5 0.3 per sales unit. 60 Commissions are based on 0.1% of sales value. 61 62 Fixed Costs: $ 53 Accounting & professional services 3300 04 Administrative Sales salarios 140000 Advertising 20000 56 Computer costs 9000 67 Depreciation 700.00 office Supplies 5000 69 Printing 3000 70 Insurance 4000 71 Property taxes 2000 72 Rent 40000 73 Utilities 3400 74 Total Fixed Costs 2009 100000 10. Fine Office Company will purchase a new machine on 1/1/2021 worth you and will make two equal payments. The first payment will be in z and the second in 04. Assume the machine was 78 purchased at the beginning of the year. 79. Taxation is 30% on taxable income and paid at the end of Q4 cachycar. 30. Balance sheet information as at 31st December 2020 is as follows: R1 PPE $100,000 Accumulated Depreciation $100,000 22 Common Stock $500,000 Retained Earnings $145,000 89. For Oost ur goods sold (UCGS): 54 Add total costs of production +Beginning Finished goods-Encing Finished goods Inventory 3. Interest of SL 9000 cn loans is paid in total at the end of the year and is a fixed cost 87 Instructions Sales Budget Production Budget Direct materials Budget Direct Labour budget Manufacturing... > Reacy 1 + 795 ACC75012 Project Student W21(M[Protected View] - Excel Tell me what you want to do. File Home Insert Page Layout Formulas Data Review View 2 Share 0 PROTECTED VIEW Be careful files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected Vicw. Enable Editing X H37 f 756000 G M N o P 5 T U 7 A E F H 1 J K L 3 Fine Office Company Maricing Rubric Tab Max. Points Group Points 5 Fine Office Company makes office furniture for offices. They are in the process of preparing Sales 5. Master Budget including the Operating budget. Cast Statement, Income Statement Production 10 7 and Balance Sheet for 2021. The yearly budget is broken into quarters. The year endis Dir. Materials 131 0 3 31st December 2021. Your group has been requested to compile a master budget for the Dir. Labour 5 0 9 fiscal year 2021. Manufacturing OH 18 o 10 Package Is to include the following budgets; Cost of Ending Finished inv. . 12 0 11 1. Sales budget for each quarter and for the year COGS 14 0 12 2. Production budget for each quarter and for the year Selling Admin & 17 a 13 3. Purchasing Budget for each cuarter and for the year US 18 0 14 4. Direct labour budget for each quarter and for the year CVP I/S 10 0 15 5. Manufacturing overhead budget for each quarter and for the year Cash 32 16 G. Sciling and Administration budget Cash Worksheets 14 0 17 7. Worksheets for Collections and Disbursements B/S 24 0 18 8.Budgeted Income Statement Total 200 7 19 9. CVD income Statement 2010. Budgeted Cash Statement 2 11. Budgeted Balance Sheel details: 23. Fine 22 Additioncorreny produces two products P100 and 200 24. sales price per 100 IS S000 2. Sales prica per 200 is $090 26. There are 300 units from P100 in finished goods inventory at the end of 2020 with a value of $ 350,000 and soo units fram P200 at the end 27 of 2000 val. 300,000. At the end of each cuarter, Fine Office Company requires ending inventory to be equal to 5% of the following quarter's buttgated sales in units 28 The required ending inventory for Dec 31, 2021 se 500 units for P100 and 400 units for P200 29. Each 200 units 60 34. ft. of steel during the manufacturing process. The cost of steel for 2021 is estimated to be s sper soft 30 Each P200 unit uses 90 sq. ft. of steel during the manufacturing process. 31. Fine Office Company currently hes 30,000 sq. ft. of steel in the beginning inventory. At 32 the end of each quarter, Fine Office Company wants to have 43,000 sq. ft. ofending 33 inventory. 34 . Each product requires 4.B machine hours and D2.4 direct labour hesta produce 35 Direct Labour costs $16.B per direct labour hour 36. Fine Office Company allocales metuscturing overhead wis based on the estimated machine 37 hours. Estimated manufacturing overhead cost for 2021 are $ 750,000 and are all variable . 28 . For each quarter, it is estimated that 40 of sales will be cash and 00 29 % the quarter of the 40 following quarter, Credit sales from 04 2020 were will be credit sales. Of the credit cales, 80% pay in and 20 pay in the $1,300,000 41. Direct labour costs and manufacturing overhead casts are paid for in cash in the quarter they 42 occurred. 43. Assume operating experises our evenly throughout the year and are all paid in cost. 44. For each quarter, 10 of material purchases are paid for in cash in the quarter of 45 the purchase and 30% are paid in the following quarter. Purchases of materials from Instructions Sales Budget Production Budget Direct materials Budget Direct Labour budget Manutacturing... | Ready > 1 + 795 ACC75012 Project Student W21(M) [Protected View] - Excel File Home Insert Page Layout Formulas Data Review View Tell me what you want to do Share O PROTECTED VIEW Bc cancful files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected Vicw. Enable Editing H37 > f 756000 J L M N o P R 5 T U 37001 0912 A B D E F H 1 45 the purchase and 30% are paid in the following quarter. Purchases of materials from % 46 04 2020 were $1,500,000 47 48 Fine Office Company 49 50 Additional details continued: 51 . Fine Office Company will pay $60,000 in dividends in 24 52. Currently, the cash balance in the bank is $15.000. Fine Office Comaany wants to maintain 53 minimum cash balance of $10,000 in the bank for each quarter, 54. Budgeted sales volumes are 55 P100 01 51001 QZ 5320 03 5400 36 200 01 6192 O2 03 6480 94 57. Selling and Administration expenses for the budgeted year are as follows: 58 Variable Cost: .54 Delivery costs are based on 5 0.3 per sales unit. 60 Commissions are based on 0.1% of sales value. 61 62 Fixed Costs: $ 53 Accounting & professional services 3300 04 Administrative Sales salarios 140000 Advertising 20000 56 Computer costs 9000 67 Depreciation 700.00 office Supplies 5000 69 Printing 3000 70 Insurance 4000 71 Property taxes 2000 72 Rent 40000 73 Utilities 3400 74 Total Fixed Costs 2009 100000 10. Fine Office Company will purchase a new machine on 1/1/2021 worth you and will make two equal payments. The first payment will be in z and the second in 04. Assume the machine was 78 purchased at the beginning of the year. 79. Taxation is 30% on taxable income and paid at the end of Q4 cachycar. 30. Balance sheet information as at 31st December 2020 is as follows: R1 PPE $100,000 Accumulated Depreciation $100,000 22 Common Stock $500,000 Retained Earnings $145,000 89. For Oost ur goods sold (UCGS): 54 Add total costs of production +Beginning Finished goods-Encing Finished goods Inventory 3. Interest of SL 9000 cn loans is paid in total at the end of the year and is a fixed cost 87 Instructions Sales Budget Production Budget Direct materials Budget Direct Labour budget Manufacturing... > Reacy 1 + 795