\begin{tabular}{|c|c|c|c|c|c|c|c|} \hline & & Current Ye & ear Quarters & & Next Yea & er Quarters & \\ \hline & 1 & 2 & 3 & 4 & 1 & 2 & \\ \hline Budgeted unit sales & 38,900 & 62,350 & 101,510 & 56,660 & 70,100 & 81,260 & \\ \hline Selling price per unit $36.78 & & & & & & 36.78 & \\ \hline Accounts receivable, beginning balance $72,910 & & & & & & 72,910 & \\ \hline Sales collected in the quarter sales are made 71% & & & & & & 71% & \\ \hline Sales collected in the quarter after sales are made 29% & & & & & & 29% & \\ \hline Desired ending finished goods inventory is 30% of the b & dgeted unit sa & les of the next & t quarter & & & 30% & \\ \hline Finished goods inventory, beginning 12,660 units & & & & & & 12,660 & \\ \hline Raw materials required to produce one unit 9 pounds & & & & & & 9 & \\ \hline Desired ending inventory of raw materials is 10% of the & ext quarter's p & Production nee & & & & 10% & \\ \hline Raw materials inventory, beginning 23,142 pounds & & & & & & 23,142 & \\ \hline Raw material costs $0.82 per pound & & & & & & 0.82 & \\ \hline Raw materials purchases are paid 64% in the quarter th & purchases are & made and 36% & % in the quart & ter following pu & urchase & 64% & 36% \\ \hline All other expenses are paid the quarter they are incurre & & & & & & & \\ \hline Accounts payable for raw materials, beginning balance & 83,500 & & & & & & \\ \hline Direct Labor Hours per unit & 0.79 & & & & & & \\ \hline Direct Labor Rate per Hour & 22.54 & & & & & & \\ \hline Variable Overhead per Unit & 2.14 & & & & & & \\ \hline Fixed Overhead per quarter & 16,000 & & & & & & \\ \hline Variable Selling Expense per unit sold & 2.29 & & & & & & \\ \hline Fixed Selling expense per quarter & 36,000 & & & & & & \\ \hline Required: & & & & & & & \\ \hline Note: All amounts should be entered as positive values. & & & & & & & \\ \hline a. Construct the sales budget for the current year. & & & & & & & \\ \hline & & Cur & rrent Year Quar & urters & & & \\ \hline & 1 & 2 & 3 & 4 & Year & & \\ \hline Budgeted unit sales & 38,900 & 62,350 & 101,510 & 56,660 & 202,760 & & \\ \hline Selling price per unit & 36.78 & 36.78 & 36.78 & 36.78 & 36.78 & & \\ \hline Total sales & $1,430,742 & 52,293,233 & $3,733,538 & 52,083,955 & $7,457,513 & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline & \multicolumn{5}{|c|}{ Current Year Quarters } & & \\ \hline & 1 & 2 & 3 & 4 & Year & & \\ \hline Beginning balance accounts receivable & \multirow{2}{*}{$72,910} & & & & \multirow[t]{2}{*}{$72,910} & & \\ \hline \multicolumn{5}{|l|}{ First-quarter sales } & & & \\ \hline \multicolumn{8}{|l|}{ Second-quarter sales } \\ \hline \multicolumn{8}{|l|}{ Third-quarter sales } \\ \hline \multicolumn{8}{|l|}{ Fourth-quarter sales } \\ \hline \multicolumn{8}{|l|}{ Total cash collections } \\ \hline \multicolumn{8}{|l|}{ c. Construct the production budget. } \\ \hline & \multicolumn{5}{|c|}{ Year 2 Quarters } & \multicolumn{2}{|c|}{ Year 3 Quarters } \\ \hline & 1 & 2 & 3 & 4 & Year & 1 & 2 \\ \hline Budgeted unit sales & 38,900 & 62,350 & 101,510 & 56,660 & 202,760 & 70,100 & 81,260 \\ \hline Add desired ending finished goods inventory & 18,705 & 30,453 & 16,998 & 21,030 & 87,186 & 24,378 & \\ \hline Total needs & 57,605 & 92,803 & 118,508 & 77,690 & 346,606 & 94,478 & \\ \hline Less beginning finished goods inventory & 12,660 & 7 & & & 7 & 7 & \\ \hline Required production in units & 44,945 & & & & & r & \\ \hline \multicolumn{8}{|l|}{ d. Construct the raw materials purchases budget. } \\ \hline & & & & & & & \\ \hline & \multicolumn{5}{|c|}{ Year 2 Quarters } & Year 3 Quarters & \\ \hline & 1 & 2 & 3 & 4 & Year & 1 & \\ \hline & & & & & & & \\ \hline \multicolumn{8}{|l|}{ Raw materials required to produce one unit (pounds) } \\ \hline \multicolumn{8}{|l|}{ Production needs (pounds) } \\ \hline \multicolumn{8}{|l|}{ Add desired ending inventory of raw materials (pounds) } \\ \hline \multicolumn{8}{|l|}{ Total needs (pounds) } \\ \hline \multicolumn{8}{|l|}{ Less beginning inventory of raw materials (pounds) } \\ \hline \multicolumn{8}{|l|}{ Raw materials to be purchased (pounds) } \\ \hline \multicolumn{8}{|l|}{ Cost of raw materials per pound } \\ \hline \multicolumn{8}{|l|}{ Cost of raw materials to be purchased } \\ \hline & & & & & & & \\ \hline e. Construct the direct labor budget. & & & & & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline & & & Qu & & \\ \hline & 1 & 2 & 3 & 4 & Year \\ \hline Variable Overhead cost per unit & & & & & \\ \hline Total Variable Overhead & & & & & \\ \hline Fixed Overhead & & & & & \\ \hline Total Manufacturing Overhead Cost & & & & & \\ \hline g. Construct the selling and administrative budget. & & & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline & \multicolumn{5}{|c|}{ Year 2 Quarters } \\ \hline & 1 & 2 & 3 & 4 & Year \\ \hline & & & & & \\ \hline \multicolumn{6}{|c|}{ Variable selling and administrative expense per unit } \\ \hline \multicolumn{6}{|c|}{ Total variable selling and administrative expense per unit } \\ \hline \multicolumn{6}{|c|}{ Fixed selling and administrative expense } \\ \hline \multicolumn{6}{|c|}{ Total selling and administrative expense } \\ \hline \multicolumn{6}{|c|}{ h. Construct the schedule of expected cash payments. } \\ \hline & \multicolumn{5}{|c|}{ Year 2 Quarter } \\ \hline & 1 & 2 & 3 & 4 & Year \\ \hline \multicolumn{6}{|c|}{ Beginning balance accounts payable } \\ \hline \multicolumn{6}{|l|}{ First-quarter purchases } \\ \hline \multicolumn{6}{|l|}{ Second-quarter purchases } \\ \hline \multicolumn{6}{|l|}{ Third-quarter purchases } \\ \hline \multicolumn{6}{|l|}{ Fourth-quarter purchases } \\ \hline Total cash disbursements & & & & & \\ \hline \end{tabular}