After two years study at UCW, you finally graduate and start a job as Junior accountant at Godox Inc. Your manager is responsible for the nationwide distribution of creator design sets. Because of the new social media influence among current generation, the company has grown rapidly, and the prompt growth forces the management team to improve their efficiency and manage their production effectively. You have just been given responsibility for all planning and budgeting of the entire lighting set division. Today is your first day, you have just given an assignment to prepare master budget for the manager, who needs to present the budget and discuss the financial objectives with the shareholders tomorrow. During your job interview, you clearly stated that you gained managerial accounting knowledge and hand on experience during your MBA study. Your first assignment is to prepare a master budget for the next fiscal year, starting January 1, 2021. Your co-work has left a pile of files on your desk including the past sale records, product information, manufacture schedule and supplier pricing list. Now, you realized that you should have pay more attention during the lecture. Now, you dont know where to start. Fortunately, you remember that you still kept a copy spreadsheet of the master budget template in your laptop from the accounting course. Note: The company desires a minimum ending cash balance each quarter on $2,000,000. The Godox products are sold to retailers for $125 each and the sales have been in demand due to the Covid-19. However, the marketing department has been conservative toward the end of the year due market saturation. The marketing department has just sent you their forecasted quarter sales and marketing budget. Quarter 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 Sales in Unit 30,000 35,000 40,000 55000 50000 55,000 Marketing Expenses $35,000 $20,000 $20,000 $35,000 $35,000 $25,000 Ending finished goods inventories are supposed to be equal to 20% of the next quarters sales in units. Godox currently does its own assembly production in house. Each unit consists of 2 LED panels and the cost of each is $15. Each unit needs 0.50 labour hour from assemble to finish package. The hourly pay rate to the assembling workers is $15 per hour. The production manager also required desired direct material ending inventory to 30% of the next quarter production. Purchases are paid for in the following manner: 50% in the quarter of the purchase and the remaining 50% paid in the quarter following the purchase. All sales to the distributors are made on credit terms with no discount (for now), and payable within 45 days. The Godox has determined that only 50% of sales are collected by the end of the quarter in which the sale occurred. An additional 50% is collected in the quarter following the sale. Bad debts have been negligible, supporting the credit terms as favorable. Below is a display of the Godox division quarterly manufacture overhead and selling and administrative expenses: Manufacture Overhead Indirect Labour $ 2.50 per labour hour Indirect Materials $ 0.75 per labour hour Wages and Salaries $ 6,000.00 Utilities $ 6,000.00 Insurance $ 5,000.00 Depreciation $ 5,000.00 Selling and Administrative Variable: Sales Commissions $ 1.00 Freight $ 0.50 Fixed: Wages and Salaries $62,000 Utilities $18,000 Insurance $3,200 Depreciation $5,500 Miscellaneous $8,000 Labour, Manufacture Overhead, and Selling and Administrative expenses are all paid during the quarter, in cash, with the exception of depreciation (of course). Godox will make a purchase of a parcel of land during the second quarter of 2021 for $3,500,000 cash. Godoxs balance sheet at the end of the fourth quarter last year is shown below: Assets Cash $35,000 Uncollected Accounts receivable in Q4 this year: $250,000 Liabilities Accounts payable $85,000 An agreement with Bank of the West allows Godox to borrow up to a total loan amount of $3,500,000. The interest rate on these loans is 12% annually (pretty high considering market rates) but the interest is not compounded, meaning this is simple interest only. Required: Prepare a master quarterly budget for 2021. Include the following budget schedules and financial statements:

1) Cash Budget. Show the cash budget by a quarter.

see attached excel sheet sample of what I need please

Paste BIU- Format Painter Merge & Center $ - %. 00 Font Alignment Clipboard E68 Number H 338.000 Given from last year 15.000 Given by Management 01 02 Q3 04 Q1 60000 108000 72000 126000 84000 144000 96000 162000 258000 108000 AR 198000 228000 01 02 03 Q4 01 8 9 70 11 12 3 14 15 16 Sales 18 Schedule of Collection 19 Account Receivable 60000 First Quarter 27 Second Quarter 22 Third Quarter 23 Fourth Quarter 24 Total Collections SE-05 25 25 Purchase 27 Schedule of Payments 25 Account Payable 10600 29 First Quarter 30 Second Quarter 31 Third Duarter 32 Fourth Quarter 33 Total Payment 1E+05 134 35 35 Beginning Cash Balance 37 Add Cash Receipts 38 Collections from Customers Sale of Investment Given 20 Total Receipts 41 Total Avatable Cash Less Cash Disbursement Direct Materials 45 Direct Labour 45 MOH 26 5&GA Purchase of Truck 23 Income Tax Expense Given Total Disbursements 50 Ecess Deficiency of Available Cast 51. Financing (borrowing or repayment 33 Pepe 54 Ending Cash Balance 10600 12600 12800 14600 4600 16600 16600 18600 35200 23200 18600 AP 27200 31200 21 22 04 38000 25500 e3 15000 19400 198000 228000 258000 2000 170000 200000 198050 223500 228000 243000 258000 277400 27200 31200 35200 22200 DD FIL 5530D 40000 53300 45000 62300 not including deprecation 47000 not including deprecahon Given 56300 43000 1000 3000 211500 12000 Total MC Total sa 3000 182500 3000 220500 22500 3000 12 000 239500 37900 25500 52 Borg 3000 16000 15.000 minimo 15000 - 12000 paid back the loan plus interest expense Dash BS Interest Ext 12113 25500 300 19400 15000 37900 KH Master Budget Budgeted 15 Cash Budget 10'C Mostly cloudy esc 14