AutoSave . Off H Document7 - Word cristine ostrich CO X File Home Insert Design Layout References Mailings Review View Help Search Share Comments X Cut [A Copy Calibri (Body) 11 ~ A" A Aa Ap AaBbCcDd AaBbCcDd AaBbCc AaBbCcD Aa B AaBbCCD AaBbCcDd Find Replace Paste Format Painter BIU ab X X A LA 1 Normal 1 No Spac... Heading 1 Heading 2 Title Subtitle Subtle Em... Select v Dictate Clipboard Font Paragraph Styles Editing Voice Budget #3 Computer Accessories Purchases Budget For the year ending December 31, 2020 Second Third Fourth First Quarter Quarter Quarter Quarter Annual Total Budgeted production in units Desired ending inventory of kits Total Requirements Less Beginning Inventory Kits Purchase requirements in kits Cost per kit Total purchases of kits in dollars 0 words CO Focus + 100% W 7:37 PM 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