Based on the sales assumptions provided by Emily in the Assumption worksheet, as well as the remaining stations provided to you in Budgeting Astigmentitions you have been do Complete the 2021 master budget which will allow further cost volume profit analysis upon Emily's chan ASSUMPTIONS Daily Health Boost Manufacturing Inc Balance Sheet As at December 31, 2020 Lsbilities & Stuwchodders Bigoty Assets 3 Accounts Payable Income tases payable Basklon payable $ 38,000 4,000 Cost per 5.100 30.03 13.350 $8.90 120,450 32.100 6.200 15 000 57.100 170,000 grams 1,500 cases Current Assets Cash Accounts Receivable Raw Materials inventory Finished Goods Inventory Total current assets 1 and buildings and equipment Land Buildings and equipment Less Accumulated Depreciation 100,000 860,000 180,000 Shareholder at Common shares Retained Earrings Total shareholders 225.000 612150 847150 680 000 780.000 ulated Depreciation Total land, buildings and equipment Total assets 100.000 860,000 180,000 680,000 780,000 $ 900.450 Shurches Cooda Record Toolshareholdes Tocals and see 23.00 25 First 2021 Estimated Sales Units (cases of 24 Daily Health Boost cans) Selling Price per unit Second Thed For 25.190 22.000 21000 34.000 Collection of credit sales collected in the quarter of sale collected in the following quarta grice per unit 20.30 Collection of credit sales collected in the quarter of sale 60% collected in the following quarter 40% Accounts Receivable Dec 31, 2020 will be collected in the first quarter of 2021 red Minimum Inventories Finished Goods Direct Materials 25% of next quarter's sales in units 20% of next quarter's Direct Materials (in grum) to meet production (in) Manufacturing Costs Variable Costs Direct material Direct Labour Variable Manufacturing Overhead 80 gram 0.20 hours 2.50 Jof Direct Labour hours S s 0.03 perum 20.00 per hour $ Fixed Costs Factory Rent Factory Insurance Supervisory Salaries Depreciation uluu per quarter 13.375 2.000 22.000 S 10.000 Payment assumptions 70 quarter of purchase 30squarter following the quarter of purchase Direct Material Purchases Direct Material Purchases arounts Payable Dec. 31. 2020 will be paid in the first quarter of 2021 month expensad/ incurred varies - sex below Selling & Administrative Costs: Variable: Sales Commission First Fixed Advertising Executive salaries Insurance Property taxes Depreciation Is 1.20 per unit sold Expense per Quarter s 22.000 S 60,000 8.000 4.550 2.000 Cash Dibunenes per Second Third 27.000 22.000 600,000 0.000 60.000 39,000 TI 3.000 Fourth 22.000 100005 1 9,1005 32.000 1.200 Cash & Financing 20,000 Minimum Opening Cash Balance cach quarter Financing Maximum Revolving Bank Line of Credit Line of Credit borrowings Line of Credit repayments annul interest rate Quarterly interest rate 5200,000 assumed to occur, when necessary, at the beginning of the quarter assured to occur when possible at the end of the quarter paid at the end of quarter based on the line of credit balance at the be 1.50% Quarter of Ray First Second 5 20.000 $ $ 5 5 12.000 S 12.000 12.0005 5 19.00 30.000 S JOJOS 30, 250 of Quarterly Net Income before income tax expense Other Purchases. Expenses and Payment Equipment Purchases Cash Dividends Income tax instalment payments Income tax expense (refiand) Based on the sales assumptions provided by Emily in the Assumption worksheet, as well as the remaining stations provided to you in Budgeting Astigmentitions you have been do Complete the 2021 master budget which will allow further cost volume profit analysis upon Emily's chan ASSUMPTIONS Daily Health Boost Manufacturing Inc Balance Sheet As at December 31, 2020 Lsbilities & Stuwchodders Bigoty Assets 3 Accounts Payable Income tases payable Basklon payable $ 38,000 4,000 Cost per 5.100 30.03 13.350 $8.90 120,450 32.100 6.200 15 000 57.100 170,000 grams 1,500 cases Current Assets Cash Accounts Receivable Raw Materials inventory Finished Goods Inventory Total current assets 1 and buildings and equipment Land Buildings and equipment Less Accumulated Depreciation 100,000 860,000 180,000 Shareholder at Common shares Retained Earrings Total shareholders 225.000 612150 847150 680 000 780.000 ulated Depreciation Total land, buildings and equipment Total assets 100.000 860,000 180,000 680,000 780,000 $ 900.450 Shurches Cooda Record Toolshareholdes Tocals and see 23.00 25 First 2021 Estimated Sales Units (cases of 24 Daily Health Boost cans) Selling Price per unit Second Thed For 25.190 22.000 21000 34.000 Collection of credit sales collected in the quarter of sale collected in the following quarta grice per unit 20.30 Collection of credit sales collected in the quarter of sale 60% collected in the following quarter 40% Accounts Receivable Dec 31, 2020 will be collected in the first quarter of 2021 red Minimum Inventories Finished Goods Direct Materials 25% of next quarter's sales in units 20% of next quarter's Direct Materials (in grum) to meet production (in) Manufacturing Costs Variable Costs Direct material Direct Labour Variable Manufacturing Overhead 80 gram 0.20 hours 2.50 Jof Direct Labour hours S s 0.03 perum 20.00 per hour $ Fixed Costs Factory Rent Factory Insurance Supervisory Salaries Depreciation uluu per quarter 13.375 2.000 22.000 S 10.000 Payment assumptions 70 quarter of purchase 30squarter following the quarter of purchase Direct Material Purchases Direct Material Purchases arounts Payable Dec. 31. 2020 will be paid in the first quarter of 2021 month expensad/ incurred varies - sex below Selling & Administrative Costs: Variable: Sales Commission First Fixed Advertising Executive salaries Insurance Property taxes Depreciation Is 1.20 per unit sold Expense per Quarter s 22.000 S 60,000 8.000 4.550 2.000 Cash Dibunenes per Second Third 27.000 22.000 600,000 0.000 60.000 39,000 TI 3.000 Fourth 22.000 100005 1 9,1005 32.000 1.200 Cash & Financing 20,000 Minimum Opening Cash Balance cach quarter Financing Maximum Revolving Bank Line of Credit Line of Credit borrowings Line of Credit repayments annul interest rate Quarterly interest rate 5200,000 assumed to occur, when necessary, at the beginning of the quarter assured to occur when possible at the end of the quarter paid at the end of quarter based on the line of credit balance at the be 1.50% Quarter of Ray First Second 5 20.000 $ $ 5 5 12.000 S 12.000 12.0005 5 19.00 30.000 S JOJOS 30, 250 of Quarterly Net Income before income tax expense Other Purchases. Expenses and Payment Equipment Purchases Cash Dividends Income tax instalment payments Income tax expense (refiand)