Cicek Manufacturing is preparing its master budget for the first quarter of the upcoming year. The following data pertain to Cicek Manufacturing's operations: (Click the icon to view the data.) 6 (Click the leon to view additional data.) Requirements y and March and for the quarter in total. (Round your answers to the nearest whole dollar Data Table 64.560 25,600 90.160 Current Assets as of December 31 (prior year): Cash Accounts receivable, net Inventory Property, plant, and equipment, net Accounts payable.... Capital stock Retained earnings ... 4,520 49,000 15,000 121,500 42.400 123.500 22,800 Bars / Selling price per unit) Quarter 26,900 2425 Print Done More Info a. Actual sales in December were $72,000. Selling price per unit is projected to remain stable at $12 per unit throughout the budget period. Sales for the first five months of the upcoming year are budgeted to be as follows: January.........$ 99,600 February ........$ 110,400 March ........... $ 112,800 April.............$ 116,400 May............$ 106,800 b. Sales are 20% cash and 80% credit. Al credit sales are collected in the month following the sale. c. Cicek Manufacturing has a policy that states that each month's ending inventory of finished goods should be 25% of the following month's sales (in units). d. Of each month's direct material purchases, 20% are paid for in the month of purchase, while the remainder is paid for in the month following purchase. Three kilograms of direct material is needed per unit at $2.00/kg Ending inventory of direct materials should be 20% of next month's production needs. e. Monthly manufacturing conversion costs are $4,000 for factory rent, $2,900 for other fixed manufacturing expenses, and $1. per unit for variable manufacturing overhead. No depreciation is included in these figures. All expenses are paid in the month in which they are incurred. Requirement 3. Prepare a direct materials budget. (Round your answers to the nearest whole dollar. Foi Cicek Manufacturing Direct Materials Budget January February March Quarter Units to be produced x kg of DM needed per unit Quantity (kg) needed for production Plus: Desired ending inventory of DM Total quantity (kg) needed Less: Beginning inventory of DM Quantity (kg) to purchase x Cost per kg Total cost of DM purchases Enter any number in the edit fields and then click Check Answer. Cicek Manufacturing is preparing its master budget for the first quarter of the upcoming year. The E: (Click the icon to view the data.) (CHck the icon to view additional data.) Requirements Cash sales January February 19,920 $ 22,080 $ 57,600 79,680 March 22,560 $ 88,320 110,880 $ Quarter 64,560 225,600 290,160 Credits sales Total cash collections 77,520 $ 101,760 $ Requirement 2. Prepare a production budget. (Hint: Unit sales - Sales in dollars / Selling price per Unit sales Cicek Manufacturing Production Budget January February 8,300 9,200 2,300 2,350 10,600 11,550 (2.075) (2,300) 8,525 9,250 Plus: Desired ending inventory Total needed Less: Beginning inventory Units to produce March 9,400 2,425 11,825 (2,350) Quarter 26,900 2,425 29,325 (2,075) 27,250 9,475