Comprehensive budgeting problem; activity$-$based costing, operating and financial budgets. Tyva makes a very popular undyed cloth sandal in one style, but in Regular and Deluxe. The Regular sandals have cloth soles and the Deluxe sandals have cloth$-$covered wooden soles. Tyva is preparing its budget for June $2015$ and has estimated sales based on past experience. Other information for the month of June follows: Input Prices Direct materials Cloth $$5\mathrm{.}25$ per yard Wood $$7\mathrm{.}50$ per board foot Direct manufacturing labor $$15$ per direct manufacturing labor$-$hour Input Quantities per Unit of Output $($per pair of sandals$)$ Regular Deluxe Direct materials Cloth $1\mathrm{.}3$ yards $1\mathrm{.}5$ yards Wood $02$ b$.$f$.$ Direct manufacturing labor$-$hours $($DMLH$)5$ hours $7$ hours Setup$-$hours per batch $2$ hours $3$ hours Inventory Information, Direct Materials Cloth Wood Beginning inventory $610$ yards $800$ b$.$f$.$ Target ending inventory $386$ yards $295$ b$.$f$.$ Cost of beginning inventory $$3,219$ $$6,060$ Tyva accounts for direct materials using a FIFO cost flow assumption. Required Sales and Inventory Information, Finished Goods Regular Deluxe Expected sales in units $($pairs of sandals$)2,0003,000$ Selling price $ $120$ $ $195$ Target ending inventory in units $400600$ Beginning inventory in units $250650$ Beginning inventory in dollars $$23,250$ $$92,625$ Tyva uses a FIFO cost flow assumption for finished goods inventory. All the sandals are made in batches of $50$ pairs of sandals. Tyva incurs manufacturing overhead costs, marketing and general administration, and shipping costs. Besides materials and labor, manufacturing costs include setup, processing, and inspection costs. Tyva ships $40$ pairs of sandals per shipment. Tyva uses activitybased costing and has classified all overhead costs for the month of June as shown in the following chart: Cost type Denominator Activity Rate Manufacturing Setup Setup$-$hours $$18$ per setup$-$hour Processing Direct manufacturing labor$-$hours $$1\mathrm{.}80$ per DMLH Inspection Number of pairs of sandals $$1\mathrm{.}35$ per pair Nonmanufacturing Marketing and general administration Sales revenue $8\%$ Shipping Number of shipments $$15$ per shipment $1.$ Prepare each of the following for June: a$.$ Revenues budget b$.$ Production budget in units c$.$ Direct material usage budget and direct material purchases budget in both units and dollars; round to dollars d$.$ Direct manufacturing labor cost budget e$.$ Manufacturing overhead cost budgets for setup, processing, and inspection activities f$.$ Budgeted unit cost of ending finished goods inventory and ending inventories budget g$.$ Cost of goods sold budget h$.$ Marketing and general administration and shipping costs budget $2.$ Tyva$$s balance sheet for May $31$ follows. Tyva Balance Sheet as of May $31$ Assets Cash $ $9,435$ Accounts receivable $$324,000$ Less: Allowance for bad debts $16,200307,800$ Inventories Direct materials $9,279$ Finished goods $115,875$ Fixed assets $$870,000$ Less: Accumulated depreciation $136,335733,665$ Total assets $$1,176,054$ Liabilities and Equity Accounts payable $ $15,600$ Taxes payable $10,800$ Interest payable $750$ Long$-$term debt $150,000$ Common stock $300,000$ Retained earnings $698,904$ Total liabilities and equity $$1,176,054$ Required

Use the balance sheet and the following information to prepare a cash budget for Tyva for June. Round to dollars.

$$ All sales are on account; $60\%$ are collected in the month of the sale, $38\%$ are collected the following month, and $2\%$ are never collected and written off as bad debts.

$$ All purchases of materials are on account. Tyva pays for $80\%$ of purchases in the month of purchase and $20\%$ in the following month.

$$ All other costs are paid in the month incurred, including the declaration and payment of a $$15,000$ cash dividend in June.

$$ Tyva is making monthly interest payments of $0\mathrm{.}5\%(6\%$ per year$)$ on a $$150,000$ long$-$term loan.

$$ Tyva plans to pay the $$10,800$ of taxes owed as of May $31$ in the month of June. Income tax expense for June is zero.

$30\%$ of processing, setup, and inspection costs and $10\%$ of marketing and general administration and shipping costs are depreciation. $3.$ Prepare a budgeted income statement for June and a budgeted balance sheet for Tyva as of June $30,2015$

$3.$ Prepare a budgeted income statement for June and a budgeted balance sheet for Tyva as of June $30,2021.$

PLEASE DO #$3$ THE LAST PART WITH INCOME STATEMENT AND BALANCE SHEET IT IS ALL I NEED