Are you able to answer the following set of questions set forth in the attached Excel spreadsheet? This is due Friday, Oct. 23 by 11:59PM CST. Please reference the Excel file for the stated 10 questions that need addressed. Thanks

You will be graded on the accuracy of your answer and usage of cell referencing in the DATA area. Covers material in chapter 9. This project covers material in chapter 9 and I have extensive budget demonstrations in the chapter 9 course documents folder. I have a template set up on the solution worksheet that you should use to complete the required budgets that are stated on the solution worksheet tab along with a what if question and article questions. You need to use cell references in the development of your budgets. You must use this worksheet to reference the data that is being inputted onto the budgets on the solution worksheet. The budget director for Bird House Unlimited, Inc., has gathered the following data for use in developing the budgeted income statement for November 20XX. Estimated sales for November Bird House 28,600 units at $33 per unit Bird Feeder 24,000 units at $37 per unit Direct materials Estimated inventories at November 1(beginning) Wood Plastic Estimated inventories at November 30th(ending) Wood Plastic 3500 feet 2800 pounds Direct materials used in production: In the manufacture of a Bird House: Wood Plastic 0.80 feet per unit of product 0.50 pounds per unit of product In the manufacture of a Bird Feeder: Wood Plastic 1.20 feet per unit of product 0.75 pounds per unit of product 2600 feet 3200 pounds Estimated cost of direct materials Wood Plastic $6.00 per feet $0.90 per pound Work in process-given in total of the 2 products Estimated inventories at November 1(beginning) Estimated inventories at November 30th(ending) $2,000 $3,000 Finished Goods Estimated inventories at November 1(beginning) Bird House Bird Feeder 4,000 units 2,500 units at at $13 per unit $14 per unit Estimated inventories at November 30th(ending) Bird House Bird Feeder 5,000 units 2,000 units at at $13 per unit $14 per unit Direct Labor Requirements: Bird House Fabrication Department Assembly Department 0.25 hour 0.3 hour at at $15 per hour $12 per hour Fabrication Department Assembly Department 0.45 hour 0.35 hour at at $15 per hour $12 per hour Bird Feeder Estimated Manufacturing Overhead Costs for November Indirect Factory Wages Depreciation of Plant and Equipment Power and Light Insurance and property tax $2,000 1,000 4,000 3,000 Estimated operating expenses for November Sales salaries expense Advertising expense Office salaries expense Depreciation expense-office equipment Telephone expense-selling Telephone expense-administrative Travel expense-selling Office supplies expense Miscellaneous Administrative expense $2,000 10,000 5,000 4,000 5,000 2,000 2,000 3,000 6,000 Estimated other income and expense for November Interest Revenue Interest Expense $14,000 10,000 Estimated tax rate 30% Grading Rubric for Project 4 Project 4 Objectives: Possible points 1. Prepare a sales budget for November 2. Prepare a production budget for November. 3. Prepare a supporting schedule to determine required material for production and a direct materials purchase budget for November 4. Prepare a direct labor cost budget for November. 5. Prepare a factory overhead cost budget for November 6. Prepare a cost of goods sold budget for November. 7. Prepare a selling and administrative budget for November, set up based on categorization of expenses into selling and administrative costs. 8. Prepare a budgeted income statement for November. 0.5 1 0.5 2 1. Develop operating budgets 2. Analyze the cash flow of the company. 3. Analyze how changes in cost or revenue impact the budgets. 4. Provide recommendations to management. 2 2 1 2 9. What if the company decides to start a new advertising campaign 1 10. Article answers-.5 each 3 Total 15 If you type in any numbers in the solution, I will take off 5 pts., since we use Excel so that we can update budgets or do what if analysis without retyping numbers. Name: Type you name here Required: Prepare the following budgets using cell references and formulas in the shaded cells below. You should not have any numbers typed into the budgets below, since you will be performing what if analysis. I know that my budget format for November is different than the textbook, but conceptually it is the same. 1. Prepare a sales budget for November. 2. Prepare a production budget for November. 3. Prepare a supporting schedule to determine required material for production and a direct materials purchase budget for November. 4. Prepare a direct labor cost budget for November. 5. Prepare a factory overhead cost budget for November. 6. Prepare a cost of goods sold budget for November. 7. Prepare a selling and administrative budget for November, set up based on categorization of expenses into selling and administrative costs. 8. Prepare a budgeted income statement for November. 9. What if the company decides to start a new advertising campaign that will increase the total advertising expense to a total of $15,000 and the estimated sales of bird house would increase to 30,000 units and Bird Feeders would increase to 26,000 units. Make these changes on the data sheet and if you have linked your data correctly to these budgets the budgets should update immediately. What budgets changed? What would be the new budgeted income? Would you recommend this advertising campaign? Why? 10. Read the following article: Wolf, R. (2015). BROKEN BUDGETS? Strategic Finance, 96(12), 22-29. Retrieved from http://sfmagazine.com/post-entry/broken-budgets-2/ Answer the following questions based on the article cited above: a. What is the role of budgeting? b. What is the role of forecasting? c. What do successful companies set the foundation for an effective planning process begin with? d. What should be included in an effective planning blueprint? e. What hampers the execution of a business strategy? f. What 2 planning alternatives are some companies changing to? Enter the appropriate cell references or formulas in the shaded cells below. 1. Bird House Unlimited, Inc. Sales Budget For the Month Ending November 30, 20XX Unit Sales Volume Bird House Bird Feeder Total revenue from sales Unit Selling Price Total Sales 28,600 2. Bird House Unlimited, Inc. Production Budget For the Month Ending November 30, 20XX Units Bird House Bird Feeder Expected units to be sold Plus desired inventory, November 30, 20XX Total Less estimated inventory, November 1, 20XX Total units to be produced 3. Bird House Unlimited, Inc. Schedule to determine the required material for production For the Month Ending November 30, 20XX Bird House Bird Feeder Required units for production: Wood required per unit(feet) Wood required for production(feet) Required units for production: Plastic required per unit(Pounds) Plastic required for production(pounds) Bird House Unlimited, Inc. Direct Materials Purchases Budget For the Month Ending November 30, 20XX Wood Plastic Total Assembly Department Total Required units for production: Bird House Bird Feeder Plus desired ending inventory, November 30, 20XX Total Less estimated beginning inventory, November 1, 20XX Total units to be purchased Cost per material Total direct materials to be purchased 4. Bird House Unlimited, Inc. Direct Labor Cost Budget For the Month Ending November 30, 20XX Fabrication Department Hours required for production: Bird House Bird Feeder Total Hourly rate Total direct labor cost 5. Bird House Unlimited, Inc. Manufacturing Overhead Cost Budget For the Month Ending November 30, 20XX Units to be produced x hours required per unit Indirect factory wages Depreciation of plant and equipment Power and light Insurance and property tax Total 6. Hint: Do not forget you have 2 products and 2 direct materials, so you will need to combine this information below. Bird House Unlimited, Inc. Cost of Goods Sold Budget For the Month Ending November 30, 20XX Direct materials: Direct materials inventory, November 1, 20XX Direct materials purchases Cost of direct materials available for use Less: Direct materials inventory, November 30, 20XX Cost of direct materials placed in production Direct labor Manufacturing overhead Total manufacturing costs Work in process inventory, November 1, 20XX See Direct Materials Purchases Budget See Direct Labor Cost Budget See Factory Overhead Cost Budget Subtotal Less work in process inventory, November 30, 20XX Cost of goods manufactured Finished goods inventory, November 1, 20XX Cost of finished goods available for sale Less finished goods inventory, November 30, 20XX Cost of goods sold 7. Bird House Unlimited, Inc. Selling and Administrative Expenses Budget For the Month Ending November 30, 20XX Selling expenses: Sales salaries expense Advertising expense Telephone expense - selling Travel expense - selling Total selling expenses Administrative expenses: Office salaries expense Depreciation expense - office equipment Telephone expense - administrative Office supplies expense Miscellaneous administrative expense Total administrative expenses Total operating expenses 8. Bird House Unlimited, Inc. Budgeted Income Statement For the Month Ending November 30, 20XX Sales Revenue Less: Cost of goods sold Gross Margin Operating expenses: Selling expenses Administrative expenses Total operating expenses Income from operations Other income: Interest revenue Other expenses: Interest expense Income before income tax Income tax expense Net income 9. What if the company decides to start a new advertising campaign that will increase the total advertising expense to a total of $15,000 and the estimated sales of bird house would increase to 30,000 units and Bird Feeders would increase to 26,000 units. Make these changes on the data sheet and if you have linked your data correctly to these budgets the budgets should update immediately. What budgets changed? What would be the new budgeted income? Would you recommend this advertising campaign? Why? Please make sure you change your data back to the original information before you submit. 10. Read the following article: Wolf, R. (2015). BROKEN BUDGETS? Strategic Finance, 96(12), 22-29. Retrieved from http://sfmagazine.com/post-entry/broken-budgets-2/ Answer the following questions based on the article cited above: a. What is the role of budgeting? b. What is the role of forecasting? c. What do successful companies set the foundation for an effective planning process begin with? d. What should be included in an effective planning blueprint? e. What hampers the execution of a business strategy? f. What 2 planning alternatives are some companies changing to? Other income - Other expenses