Budget Excel Project - Astro Co. Astro Corporation is preparing its budget for the coming year, 2020. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in preparation of the budgeting process. Sales Unit sales for November 2019 112,500 Unit sales for December 2019 102,100 Expected unit sales for January 2020 113,000 Expected unit sales for February 2020 112,500 Expected unit sales for March 2020 116,000 Expected unit sales for April 2020 125,000 137,500 $12 Expected unit sales for May 2020 Unit selling price Astro likes to keep 10% of the next month's unit sales in ending inventory. All sales are on account. 85% of the Accounts Receivable are collected in the month of sale, and 15% of the Accounts Receivable are collected in the month after sale. Accounts receivable on December 31, 2019, totalled $183,780. Direct Materials Direct materials cost 75 cents per pound. Two pounds of direct materials are required to produce each unit. Astro likes to keep 5% of the materials needed for the next month in its ending inventory. Raw Materials on December 31, 2019 were 11,295 pounds. Payment for materials is made within 15 days. 50% is paid in the month of purchase, and 50% is paid in the month after purchase. Accounts Payable balance on December 31, 2019 was $120,595. Direct Labor Labor requires 12 minutes per unit for completion and is paid at a rate of $8 per hour. Manufacturing Overhead Indirect materials 30 per labor hour Indirect labor 50 per labor hour Utilities Maintenance. Salaries Depreciation Property taxes Insurance Janitorial 45 per labor hour 25 per labor hour $42,000 per month $16,800 per month $ 2,675 per month $ 1,200 per month $ 1,300 per month