Bird Paradise makes backyard birdfeeders. The company sells the birdfeeders to home improvement stores for $20 per birdfeeder. Each birdfeeder requires 3.0 board feet of wood, which the company obtains at a cost of $4 per board foot. The company would like to maintain an ending stock of wood equal to 25% of the next month's production requirements. Data Table - X More Info Fd Units In any given month, 30% of the total sales are cash sales, while the remainder are credit sales 94.000 ER 80,000 ser un 74,000 October actual sales (prior year) November actual sales (prior year) December actual sales (prior year) January projected sales February projected sales March projected sales April projected sales 82.000 92.000 The company's collection history indicates that 80% of credit sales is collected in the month after the sale, 10% is collected two months after the sale, 4% is collected three months after the sale, and the remaining 6% is never collected Assume that the total cost of direct materials purchases in December was $520,000. The company pays 55% of its direct materials purchases in the month of purchase, and pays the remaining 45% in the month after purchase. 100,000 106,000 Print Done Print Done ne edit Sales Budget For the Quarter Ended March 31 January February March Quarter Unit sales Multiply by: Sales price per unit Total sales revenue Cash sales Credit sales Total sales revenue Requirement 2. Prepare the production hudoet for the first three months of the vear as well as a summ Requirement 2. Prepare the production budget for the first three months of the year, as well as a summary budget for the quarter. Bird Paradise Production Budget For the Quarter Ended March 31 January February Quarter March Unit sales Plus: Desired ending inventory Total needed Less: Beginning inventory Units to produce NEWS DIEL MACAS Duoyce For the Quarter Ended March 31 January February March Quarter Units to be produced Multiply by: Quantity (board feet) of DM needed per unit Quantity (board feet) needed for production Plus: Desired ending inventory of DM Total quantity (board feet) needed Less: Beginning inventory of DM Quantity (board feet) to purchase Multiply by: Cost per board foot Total cost of DM purchases March Quarter Bird Paradise Cash Collections Budget For the Quarter Ended March 31 January February Cash sales in current month Collections on credit sales: 80% of credit sales made one month ago 10% of credit sales made two months ago 4% of credit sales made three months ago Total cash collections rah Requirements. Prepare the cash payments budget for direct materials purchases for the months of January, February, and March, as well as a summary for the first quarter Review the direct materials budget prepared in Requirement 3. Bird Paradise Cash Payments for Direct Materials Budget For the Quarter Ended March 31 January February March Quarter 55% of current month DM purchases 45% of last month's DM purchases Total cash payments Bird Paradise makes backyard birdfeeders. The company sells the birdfeeders to home improvement stores for $20 per birdfeeder. Each birdfeeder requires 3.0 board feet of wood, which the company obtains at a cost of $4 per board foot. The company would like to maintain an ending stock of wood equal to 25% of the next month's production requirements. Data Table - X More Info Fd Units In any given month, 30% of the total sales are cash sales, while the remainder are credit sales 94.000 ER 80,000 ser un 74,000 October actual sales (prior year) November actual sales (prior year) December actual sales (prior year) January projected sales February projected sales March projected sales April projected sales 82.000 92.000 The company's collection history indicates that 80% of credit sales is collected in the month after the sale, 10% is collected two months after the sale, 4% is collected three months after the sale, and the remaining 6% is never collected Assume that the total cost of direct materials purchases in December was $520,000. The company pays 55% of its direct materials purchases in the month of purchase, and pays the remaining 45% in the month after purchase. 100,000 106,000 Print Done Print Done ne edit Sales Budget For the Quarter Ended March 31 January February March Quarter Unit sales Multiply by: Sales price per unit Total sales revenue Cash sales Credit sales Total sales revenue Requirement 2. Prepare the production hudoet for the first three months of the vear as well as a summ Requirement 2. Prepare the production budget for the first three months of the year, as well as a summary budget for the quarter. Bird Paradise Production Budget For the Quarter Ended March 31 January February Quarter March Unit sales Plus: Desired ending inventory Total needed Less: Beginning inventory Units to produce NEWS DIEL MACAS Duoyce For the Quarter Ended March 31 January February March Quarter Units to be produced Multiply by: Quantity (board feet) of DM needed per unit Quantity (board feet) needed for production Plus: Desired ending inventory of DM Total quantity (board feet) needed Less: Beginning inventory of DM Quantity (board feet) to purchase Multiply by: Cost per board foot Total cost of DM purchases March Quarter Bird Paradise Cash Collections Budget For the Quarter Ended March 31 January February Cash sales in current month Collections on credit sales: 80% of credit sales made one month ago 10% of credit sales made two months ago 4% of credit sales made three months ago Total cash collections rah Requirements. Prepare the cash payments budget for direct materials purchases for the months of January, February, and March, as well as a summary for the first quarter Review the direct materials budget prepared in Requirement 3. Bird Paradise Cash Payments for Direct Materials Budget For the Quarter Ended March 31 January February March Quarter 55% of current month DM purchases 45% of last month's DM purchases Total cash payments