AutoSave . Off H Document7 - Word cristine ostrich CO X File Home Insert Design Layout References Mailings Review View Help Search Share Comments & Cut Find Calibri (Body) 11 ~ A" A Aa Ap AaBbCcDd AaBbCcDd AaBbCc AaBbCcD Aa B AaBbCcD AaBbCcDd Replace Paste [A Copy BIU ab X X A LA 1 Normal 1 No Spac... Heading 1 Heading 2 Title Subtitle Subtle Em... Dictate Format Painter Select v Clipboard Font Paragraph Styles Editing Voice Budget #5 Computer Accessories Selling and Administrative Expenses Budget For the year ending December 31, 2020 First Quarter Second Third Fourth Annual Total Quarter Quarter Quarter Budgets Sales Units from Budget #1 Budgets Sales Dollars from Budget #1 Variable selling and admin. expenses: Bad Debts Variable selling and admin. expenses Total variable selling and admin. Expenses Fixed Selling and administrative Expenses Total selling and administrative expenses + 66 words Focus 100% 7:46 PM W 11/17/2020Fiie Toois View Documentl , Word Computer Accessories assembles a computer networking Variable overhead/labor hour 0.8 hour $5 $4 device from kits of imported components. Total Variable Standard cost per unit $65 You have been asked to develop a quarterly and annual operating budget and a pro forma income statements for the year ending December 31, 2020. Fixed overhead 005' per quarter You have obtained the following information: used cash $30,000 Manufacturing Depreciation per quarter $4,000 Beginning-ofyear balances Selling and administrative costs are paid in month incurred unless it is an Cash $20,000 noncash expense Accounts receivables (previous fourth quarter's sales) $61,200 Variable cost per unit $4 Raw materials 653 Kits Fixed selling and administrative cost Finished Goods 510 Units per quarter used cash $22,000 Accounts payable(purchases made in previous fourth Selling and administrative quarter) $33,255 depreciation per quarter $3,000 Additional information: All cash payments except purchases are made Desired end-of-year inventory quarterly as incurred. balances Raw materials 500 kits Portion of sales collected Finished goods 270 units Collected in the quarter of sale 71% ' Subsequent quarter 28% Desrred end-ofquarter balances Bad debts 1% Raw materials as a portions of the following quarter's production 20% Portion of purchases paid Finished goods as a portion of the Paid in the quarter of purchases 66% following quarter's sales 15% Subsequent quarter 34% Manufacturing costs other than raw materials are paid in month incurred unless it is Unit selling price $115 an noncash expense Total Sales forecast Unit cost Quarter First Second Third Fourth Unit of price per per _ Variable Standard cost per unit input input unit Unrt sales 31000 21500 2700 3200 Raw materials 1 kit $45 $45 Direct labor hours at rate 0.8 hour $20 $16 Screens 1-2 or 2 In: Focus E 47 + 140% IIEIE i 7-. a e e a emancisgrmel