C8 X y fx A B D E F G Raw Materials Budget - for the Profit Planning Year Jan. 1 to Dec. 31, 2021 MyArmor, Inc. Test My Quarter in the 2021 Planning Year Full Year 1st 2nd 3rd 4th Total Finished Units to Produce (from Production Budget times Ounces of PlasticSteel Powder [PSP] Required per Finished Unit Ounces of PSP Required to Produce the Finished Units Ounces of PSP Required to Produce the Finished Units pics Ounces of PsP Needed in Ending Raw Materials Inventory less Ounces of PEP Available from Beginning Raw Materials Inventory [ ] Total Ounces of PSP to Purchase 17 Total Ounces of PSP to Purchase times Cost of PSP per Ounce A Total Cost of PSP Purchases Check Amount - $136,000 Check Amount $668,160 22 Fix the Format of All White 23 Calculation of Cash Payments for Raw Materials - for the Cash Budget 1st Qu. 2nd QuL. 3rd QLL. 4th Qu. Payment of December 31, 2020 Accounts Payable Payment of 1st Qtr PSP Purchases Payment of 2nd Qtr PSP Purchases Payment of 3rd Qur PSP Purchases Partial Payment of 4th Qur PSP Purchases Total Cash Payments for PSP Check Amounts + $83,200 $150,168 $211,328 $219,880 Calculation of December 31, 2021 Accounts Payable - for the Balance Sheet 4th Quarter Total Cost of PSP Purchases less Partial Payment of 4th Qur PSP Purchases ( ) Accounts Payable as of December 31, 2021 Check Amount $31,584 Calculation of Dec. 31, 2021 Raw Materials Inventory (FIFO) for the Cost of Goods Sold Budget and the Balance Sheet 4th Quarter Ounces of PSP in Ending Raw Materials Inventory times 4th Quarter Cost of PsP per Ounce Raw Materials Inventory as of December 31, 2021 Check Amount - $31,200 Multiple Choice Questions 1. Using the data in the simple example on Pg 1 of the Raw Materials Budget pdf document, what would Answer be Total Cost of Raw Material Purchases if Pounds of Raw Material Needed in Ending Raw Materials Inventory were 30 rather than 25? A. $635 B. $625 C. $645 D. $615 2. Which one of the following statements is correct? Answer: A. Total Cost of PSP Purchases on the Raw Materials Budget will be an input to the Forecasted Income Statement. B. Total Cost of PEP Purchases on the Raw Materials Budget will be an input to the Forecasted Balance Sheet C. Total Cost of PsP Purchases on the Raw Materials Budget will be an input to the Cost of Goods Sold Budget D. None of the above statements are correct. 60 61 62 63 64 65 66 87 68