complete a full master budget please

Waterways 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 114,000 Unit sales for December 2019 101,000 114,000 112.000 117.000 Expected unit sales for January 2020 Expected unit sales for February 2020 Expected unit sales for March 2020 Expected unit sales for April 2020 Expected unit sales for May 2020 Unit selling price 126,000 138,000 $12 Waterways 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. totaled S 181.800 Direct Materials Direct materials cost Bo cents per pound. Two pounds cf direct materials are required to produce each unit Waterways likes to keep 5% of the materials needed for the next month in its ending inventory Raw Materials on December 31, 2019 totaled 11.380 pounds Payment for materials is made within 15 days 5036 is paid in the month of purchase, and 5096 is bald in the month after purchase Accounts Payable on December 31, 2019. totaled 5 102.875 Direct Labor Labor requires 12 minutes per unit for completion and is paid at a rate of 56 per hour Manufacturing Overhead Indirect materials 30 Indirect labor SOC Utilities 400 Maintenance 206 Salaries $41,000 Depreciation $ 15,800 Property taxes $3,000 Insurance $ 1.400 Maintenance $1,300 per labor hour per labor hour perlabor hour per labor hour per month per month per month per month per month Selling and Administrative Variable selling and administrative cost per unit is $ 170. Advertising $ 13,000 a month Insurance $1.500 a month Salaries $ 70,000 a month Depreciation $2.600 a month Other fixed costs 52.700 a month Other Information The Cash balance on December 31, 2019, totaled $ 100.000, but management has decided it would like to maintain a cash balance of let 800.000 beginning on January 31, 2020. Dividends are paid each month at the rate of $ 250 per share for 5.360 shares outstanding. The company has an open line of credit with Romney's Bank. The terms of the agreement requires borrowing to be in s 1.000 increments at interest Waterways borrows on the first day of the month and repays on the last day of the month AS 450.000 equipment purchase is planned for February (b) For the first quarter of 2020. prepare a production budget. WATERWAYS CORPORATION Production Budget For the First Quarter of 2020 First Quarter January February ected Unit Sales 114.000 112.000 Destredenhed Goods al Material Required v Beginned Goods Unit wires Production Unit eTextbook and Media Save for Attempts: 0 of lused Submit A 11.11/100 id Then ander The best when you come pure d The timest hende oder The part will be when you come the per Theme.com www minat