Can I recieve help with filling this out?

INPUT SECTION SALES 4th Quarter 2020 1st Quarter 2nd Quarter 2021 48,100 3rd 4th Quarter Quarter 2021 2021 34,500 31,000 2021 41,000 43,000 S 530 per production unit (Finished Goods) B Budgeted Sales in units 0 11 Budgeted Selling Price 12 13 14 RECEIVABLES 15 Receivables Collection Schedule 16 17 18 19 20 21 INVENTORY COSTS 22 Direct Labor 23 24 25 Raw Materials 26 27 28 Variable Overhead 83.00% quarter of sale 15.00% quarter following sale 2.00% uncollectible 100.00% Entire projected uncollectible receivables are written off each quarter Policy 4.5 hours 18.00 per direct labor hour $ 3 pounds per finished goods unit 85.00 per pound 10.50 per Direct Labor Hour Fixed Overhead Depreciation $ Other Fixed Overhead $ 195,000 per quarter 950,000 per quarter Fixed Overhead Application Rate CALCULATE FROM PRODUCTION BUDGET INVENTORY ACCOUNTS Finished Goods Inventory 4th Quarter 2020 Ending units 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 2021 2021 2021 2021 0 15,000 19,000 20,000 16,000 Raw Materials Inventory Beginning units on 1/1/2021 Planned Ending units on 12/31/2021 Policy 41,368 pounds 26,000 pounds 25.00% of next quarters' needs for production is in ending Raw Materials Inventory Work In Process Inventory Beginning value 1/1/2021 S Planned Ending value on 12/31/2021 $ 231,720 231,720 Payment for Raw Materials Payment Policy 85.00% quarter of purchase 15.00% quarter following purchase 4 5 OPERATING EXPENSES 6 Wages and Salaries Payment Payment Policy 2 times monthly on the 15th and 30th OPERATING EXPENSES Wages and Salaries Payment Payment Policy 2 times monthly on the 15th and 30th Fully paid each month Variable Selling & Administrative Exp. 3.25% of selling price Fixed Selling & Administrative Exp 3 Depreciations 55,000 per quarter Other Selling & Administrative ExpS 180,000 per quarter 5 6 CAPITAL EXPENDITURES 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 8 2021 2021 2021 2021 Equipment Purchases $1,000.00 $1,500.00 $2,000.00 $2,500.00 0 1 TREASURY ACTIVITIES 2 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 3 2021 2021 2021 2021 4 4 Dividends to be Declared $500.00 $1,000.00 $1,500.00 $2,000.00 5 26 Minimum Cash Balance $ 250,000 Required at end of every quarter 17 28 Interest Rate for Investing (short-term) 4.00% Annually 79 Interest Policy All of the ending cash balance for the quarter earns interest for the entire quarter 30 All of the ending cash balance for the quarter remains in Cash at the beginning of the next quarter 31 32 Interest Rate for borrowing 12.00% Annually 83 Interest Policy S 10,000 increments are used in borrowing and repayment, maintaining the minimum cash balance Interest Rate for borrowing Interest Policy $ 12.00% Annually 10,000 increments are used in borrowing and repayment, maintaining the minimum cash balance Borrowing occurs at the beginning of the quarter. Repayments occur at the end of the year. FLEXIBLE BUDGET Actual Units Produced USE VALUE FROM PRODUCTION BUDGET Flexible Budget - Analyze at Additional Production Levels Production level 1 Production level 2 500 units 750 units PRIOR YEAR RESULTS Precision Propulsion Company Balance Sheet 12/31/2020 ASSETS Cash Inventory Accounts Receivable (net) Plant and Equipment $ S S S S 6,150,000 3,748,000 5,050,000 29,400,000 44,348,000 1 2 3 14 5 06 07 38 39 S LIABILITIES AND EQUITY Accounts Payable Common Stock Retained Earnings 8,100,000 26,234,500 10,013,500 44,348,000 1 Sales Budget 2 Projected for Year Ending 12/31/2021 3 4 5 6 Budgeted Sales in Units 7 Selling Price 8 Budgeted Sales in Dollars 9 First Quarter Second Quarter Third Quarter Fourth Quarter Annual Total 10 11 CHECK YOUR SALES BUDGET Does the sum of the four quarters of sales equal the total calculated from the Annual 12 Total column (F)? YES Fourth Quarter Annual Total 1 Production Budget 2 Projected for Year Ending 12/31/2021 3 4 First Second Third 5 Quarter Quarter Quarter 6 Budgeted Sales in units 7 Ending Inventory of Finished Goods 8 Total Need for Finished Goods 9 Beginning Inventory of Finished Goods 10 Budgeted Finished Goods Produced in units 11 12 13 CHECK YOUR PRODUCTION BUDGET Does the sum of the four quarters of units produced equal the total calculated from the 14 Annual Total column (F)? 15 YES Fourth Quarter Annual Total Direct Materials Purchases Budget e 3 First Second Third 4 Quarter Quarter Quarter 5 Budgeted Finished Goods Produced (units) 6 Raw Materials needed per unit 7 Raw Materials needed for production 8 Raw Material Ending Inventory (units) 9 Total Raw Materials needed 10 Raw Materials Beginning Inventory (units) 11 Raw Materials Purchases (units) 12 Cost Unit 13 Raw Material Purchases Cost (dollars) 14 15 16 CHECK YOUR DIRECT MATERIALS PURCHASES BUDGET Does the sum of the Direct Material Purchases each quarter equal the total calculated from the 17 Annual Total column (F)? YES 18 19 per Direct Labor Budget Annual Total First Second Third Fourth Quarter Quarter Quarter Quarter Finished Goods Produced (units) Direct Labor Hours Required per Unit Total Direct Labor Hours Required 1 Hourly Labor Rate 2 Direct Labor Cost (dollars) 3 4 5 CHECK YOUR DIRECT LABOR BUDGET Does the sum of the Direct Labor costs each quarter equal the total calculated from the Annual YES 56 Total column (F)? Overhead Budget First Quarter Second Quarter Third Quarter Fourth Quarter Annual Total Total Direct Labor Hours Budgeted Variable Overhead Rate per hour Variable Overhead Cost Fixed Overhead Cost without Depreciation Depreciation Cost Total Overhead Cost CHECK YOUR OVERHEAD BUDGET Does the sum of the overhead costs each quarter equal the total calculated from the Annual Total column (F)? YES Selling & Administrative Expense Budget First Quarter Second Quarter Third Quarter Fourth Quarter Annual Total Budgeted Sales in Dollars Variable S&A rate Fourth First Quarter Second Quarter Third Quarter Annual Total Quarter 19 Selling & Administrative Expense Budget 20 21 22 23 Budgeted Sales in Dollars 24 Variable S&A rate 25 Variable S&A Cost 26 Fixed S&A Cost without Depreciation 27 Depreciation Cost 28 Total S&A Cost 29 30 31 CHECK YOUR SELLING & ADMINISTRATIVE EXPENSE BUDGET Does the sum of the selling & administrative costs each quarter equal the total calculated from YES 32 the Annual Total column (F) information? E w Third First Quarter Second Quarter Annual Fourth Quarter Quarter 1 SCHEDULE OF CASH COLLECTIONS 2 3 4 5 Budgeted Sales in dollars 6 7 Collections in quarter of sale 8 Collections in quarter following sale 9 Total Collections 10 11 Net Accounts Receivable Balance 12 13 CHECK YOUR SCHEDULE OF CASH COLLECTIONS MORE WORK TO DO 14 Have you found the amount of cash that will be collected in the first quarter from sales in 2020? 15 16 17 18 SCHEDULE OF CASH PAYMENTS 19 Annual First Quarter Second Quarter Third Quarter Fourth Quarter 21 22 23 Raw Material Purchases 24 D 18 SCHEDULE OF CASH PAYMENTS 19 First Second Quarter Third Quarter Fourth Quarter Annual Quarter 20 21 22 23 Raw Material Purchases 24 25 Payments in quarter of purchase 26 Payments in quarter following purchase 27 Total payments 28 29 Accounts payable balance 30 31 CHECK YOUR SCHEDULE OF CASH PAYMENTS MORE WORK TO DO 32 Have you found the amount of payments in the first quarter from purchases in 2020? 33 34 35 36 CASH BUDGET 37 38 Annual First Quarter Second Quarter Third Quarter Fourth Quarter 39 40 Cash Collections: 41 Collections in quarter of sale 142 Collectione in auctor following colo 6 CASH BUDGET First Quarter Annual Second Quarter Third Quarter Fourth Quarter 9 O Cash Collections: 1 Collections in quarter of sale 2. Collections in quarter following sale 3 Total Cash Receipts 5 Cash Disbursements: 16 Raw Materials 37 Payments in quarter of purchase 18 Payments in quarter following purchase 19 Direct Labor Costs 50 Overhead Costs 51 Selling and Administrative Costs 52 Total Cash Disbursements 53 54 Net Operating Cash Flows 55 Beginning Cash 56 Net Cash Available 57 Minimum cash balance 58 Cash Available for Discretionary Uses 59 60 in f| 56 Net Cash Available 57 Minimum cash balance 58 Cash Available for Discretionary Uses 59 60 Discretionary Uses of Cash 61 Equipment Purchases 62 Dividends 63 64 Leave Financing section empty: 65 Financing: (should not be required) 66 Borrowing 67 Repayment 68 Interest 69 Total Financing Cash Increase (Decrease) 70 71 Net Cash Available After Dicretionary Cash Uses 72 Interest Earned on Cash 73 Ending Cash Balance 74 75 Grayed cells are not used. 76 Light yellow cells are your cash outflow choices from the INPUT worksheet 77 78 CHECK YOUR CASH BUDGET Does the ending balance of cash derived from your Row 73 information match the ending value of cash from the 79 Annual Total column (F)? YES