cleared image of second picture and third pictures added

just need the last table answered in the second picture given

42.980 1. Prepare Tamison's operating budget and cash budget for 2025 by quarter. Required schedules and budgets include: sales budget production budget, direct materials budget direct labor budget. manufacturing overhead budget, cost of goods sold budget, selling and administrative expense budget, schedule of cash receipts, schedule of cash payments, and cash budget. Manufacturing overhead costs are allocated based on direct labor hours. (Round all calculations to the nearest dollar.) 2. Prepare Tamison's annual financial budget for 2025, including budgeted income statement and budgeted balance sheet. 3. Tamison sold 7.700 sets in 2025, and its actual operating income was as follows: Tamison Toy Company Income Statement For the Year Ended December 31, 2025 Net Sales Revenue $ $ 693,000 Cost of Goods Sold: : Variable $ 60.737 Fixed 103.717 Gross Profit 589,283 Selling and Administrative Expenses: Variable 20.790 Fixed 59.800 80,590 Operating Income 508,693 Other Income and (Expenses): Interest Expense (500) Income Before Income Taxes 508,193 Income Tax Expense 17,000 Net Income $ 491,193 Prepare a flexible budget performance report through operating income for 2025. Show product costs separately from selling and administrative costs. To simplify the calculations due to sets in beginning inventory having a different cost than those produced and sold in 2025, assume the following product costs: Variable Fixed Total Static budget $ 48,680 $ 44,580 $ 93,260 Flexible budget 59,587 44,580 104.167 4. What was the effect on Tamison's operating income of selling 800 sets more than the static budget level of sales? 5. What is Tamison's static budget variance for operating income? 6. Explain why the flexible budget performance report provides more useful information to Tamison's managers than the static budget performance report. What insights can Tamison's managers draw from this performance report? 7. During 2025, Tamison recorded the following cost data below. Compute the cost and efficiency variances for direct materials and direct labor. Standard Cost Information Quantity Cost Direct materials 4 pounds per set $1 per pound Direct labor 0.20 hours per set $8 per hour Variable manufacturing overhead 0.20 hours per set $8 per hour Fixed manufacturing overhead Static 0.20 hours per set $30.40 per hour budget amount: $44,580 Actual Cost Information Direct materials (30,600 pounds @ $1.20 per pound) $ 36,720 @ $ Direct labor (1,530 hours @ $8.20 per hour) 12,546 Variable manufacturing overhead (1.530 hours @ $7.90 per hour) 12,087 Fixed manufacturing overhead 42,980 8. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. 9. Prepare the standard cost income statement for 2025. 10. Calculate Tamison's ROI for 2025. To calculate average total assets, use the December 31, 2024, balance sheet for the beginning balance and the budgeted balance sheet for December 31, 2025, for the ending balance. Round all of your answers to four decimal places. 11. Calculate Tamison's profit margin ratio for 2025. Interpret your results. 12. Calculate Tamison's asset turnover ratio for 2025. Interpret your results. 13. Use the expanded ROI formula to confirm your results from Requirement 10. Interpret your results. 14. Tamison's management has specified a 20% target rate of return. Calculate Tamison's RI for 2025. Interpret your results More info (Unless otherwise noted, assume all of the following events occurred during 2024 and that any balances given are stated as of December 31, 2024.) a. Budgeted sales are 1,500 sets for the first quarter and expected to increase by 150 sets per quarter. Cash sales are expected to be 30% of total sales, with the remaining 70% of sales on account Sets are budgeted to sell for $90 per set. b. Finished Goods Inventory on December 31, 2024, consists of 100 sets at $35 each. c. Desired ending Finished Goods Inventory is 30% of the next quarter's sales; first quarter sales for 2026 are expected to be 2,100 sets. FIFO inventory costing method is used. d. Raw Materials Inventory on December 31, 2024, consists of 400 pounds. Direct materials requirement is four pounds per set. The cost is $1 per pound. e. Desired ending Raw Materials Inventory is 10% of the next quarter's direct materials needed for production; desired ending inventory for December 31, 2025, is 400 pounds; indirect materials are insignificant and not considered for budgeting purposes. f. Each set requires 0.20 hours of direct labor, direct labor costs average 8 per hour. g. Variable manufacturing overhead is $1.60 per set. h. Fixed manufacturing overhead includes $3,000 per quarter in depreciation and $8,145 per quarter for other costs, such as utilities, insurance, and property taxes. i. Fixed selling and administrative expenses include $10,000 per quarter for salaries: $2,400 per quarter for rent; $1,050 per quarter for insurance; and $1,500 per quarter for depreciation. j. Variable selling and administrative expenses include supplies at 3% of sales. k. Capital expenditures include $35,000 for new manufacturing equipment, to be purchased and paid for in the first quarter. 1. Cash receipts for sales on account are 50% in the quarter of the sale and 50% in the quarter following the sale; Accounts Receivable balance on December 31, 2024, is expected to be received in the first quarter of 2025; uncollectible accounts are considered insignificant and not considered for budgeting purposes. m. Direct materials purchases are paid 60% in the quarter purchased and 40% in the following quarter, Accounts Payable balance on December 31, 2024, is expected to be paid in the first quarter of 2025. n. Direct labor, manufacturing overhead, and selling and administrative costs are paid in the quarter incurred. o. Income tax expense is projected at $2,500 per quarter and is paid in the quarter incurred. p. Tamison desires to maintain a minimum cash balance of $25,000 and borrows from the local bank as needed in increments of $1,000 at the beginning of the quarter, principal repayments are made at the beginning of the quarter when excess funds are available and in increments of $1,000; interest is 4% per year and paid at the beginning of the quarter based on the amount outstanding from the previous quarter. 1. Prepare Toon's operating toget and cash pas tyreRequired schedules and budget de audio production durch marylacturing overhead budget.com of goods soldeling and we are budget schedule of Care Schedule a casa perfecture overhead costs wedband onder stor for 2. Prepare animal ander det for 20 ming budgeted moment and speed balance sheet 3. Tuo told 7,700 2005, and touring income follows For the owner December See Cost of Good GoPro Segundo 20790 Dronen 50 e Batar rates T.000 191.183 Prepare a few ble butterformance on our 2. Brown Ou sts operately from selling and dee.com w w beginning inventory having a diferent counter the following productos Varistle and Sticht Flexible budget 2018 4. What was the effect on Taipening income of ting 500 se more than the state budget est of se? S. What is Tamison's static budget var for pering one? 6. Explain why the flexible budget performance report provide more information to Toon's manager than the static budget performance report an Taman managers draw from this performance report? 7. During 2025. Toison recorded the towing conduta below compute the cost and efficiency variances for direct materials and direct labor Standard Cost Information Cast Direct materiale Sper pound Direct labor 20 hours 5 per hour Variable manufacturing overhead 0.20 Fixed manufacturing overhead Statie 0.30 hours 590.40 per how budget amount: $64.88 Actual Cost Information Direct materials pe pode 51.20 per pound $ 55,720 Direct labor 1500 per hour 12546 Variable manufacturing overhead (1.580 57.90 per hour 12.007 Fland manufacturing overhead 12.00 . For manufacturing overhead, compute the variable and efficiency variances and the feed overhead cost and volume variance 9. Prepare the standard cost income statement for 2005 10. Calculate Tamson's Rol for 2025. To calculate eget, the December 31, 2024 balance sheet for the beginning balance and the budgeted belance sheet for December 31, 2025. for the ending balance. Round all of your answers to four decimal places 11. Calle Tenison's profit margine for 2025. gre your 12. Calculate Trison's se mover rate for 2005 pret your results 13. Use the expanded ROI formula to confirm your mouton Requirement 10 Interpret your results. 14. Taison's management has pecified a 20% em Cace Tomson's Rif 2025 Interpret your resu 53,900 Tamison Toy Company Balance Sheet December 31, 2024 Assets Current Assets: Cash 25,000 Accounts Receivable 25,000 Raw Materials Inventory 400 Finished Goods Inventory 3,500 Total Current Assets $ Property, Plant, and Equipment: Equipment 206,000 Less: Accumulated Depreciation (42,000) Total Assets $ Liabilities Current Liabilities: Accounts Payable Stockholders' Equity Common Stock, no par $ 100,000 Retained Earnings 100,900 Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ 164,000 217,900 $ 17,000 200,900 217,900 Tamison Toy Company Sales Budget For the Year Ended December 31, 2025 First Second Third Fourth Quarter Quarter Quarter Quarter Total Budgeted sets to be sold 1,500 1,650 1,950 6,900 1,800 90 $ Sales price per unit $ 90 $ 90 $ 90 $ 90 Total sales $ $ 135,000 $ 148,500 $ 162,000 $ 175,500 $ 621,000 Prepare the production budget. Review the sales budget you prepared above. Tamison Toy Company Production Budget For the Year Ended December 31, 2025 First Second Third Fourth Quarter Quarter Quarter Quarter Total 1,650 1,800 1,950 1,500 495 6,900 630 540 585 630 Budgeted sets to be sold Plus: Desired sets in ending inventory Total sets needed Less: Sets in beginning inventory 1,995 2,190 2,385 2,580 7,530 100 495 540 585 100 1,895 1,695 1,845 1,995 7,430 Budgeted sets to be produced Prepare the direct materials budget. Review the production budget you prepared above. Tamison Toy Company Direct Materials Budget For the Year Ended December 31, 2025 , First Second Quarter Quarter Third Fourth Quarter Quarter Total Budgeted sets to be produced 1895 1695 1845 1995 7430 4 4 4 4 7580 6780 7380 7980 29720 Direct materials per set (pounds) Direct materials needed for production Plus: Direct materials in beginning inventory Total direct materials needed Less: Desired direct materials in ending inventory Budgeted purchases of direct materials Direct materials cost per pound Budgeted cost of direct materials purchases