Current Attempt in Progress 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 Unit sales for December 2019 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 114.000 101.000 112,000 113,000 117.000 126.000 138,000 $12 Waterways Ikes 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 $181.800, Direct Materials Direct materials cost 80 cents per pound. Two pounds of direct materials are required to produce each unit. Waterways likes to keep 5% of the materiais needed for the next month in der snding inventory. Raw Materials on December 31 2019. totaled 11.210 poundsPayment formaterials de whiss days bons paid in the month of purchase, and Sox is paid to the month atter purchase. Accounts Payable on December 31, 2019. totaled $102,600. Direct Labor Cabe requires 12 minute per for completing that of per hour Manufacturing Overhead Indirect materials 304 Indirect labor 500 Utilities 406 Maintenance 306 Salaries $41.000 Depreciation $16,400 Property taxes $2.800 Insurance $1,200 Maintenance $1,200 per labor hour per labor hour per labor 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 $1.70 Advertising $14,000 a month Insurance $1,300 a month Salaries $73,000 a month Depreciation $2.800 a month Other fixed costs $2,800 a month Other information The Cash balance on December 31, 201% to 102.000 decided would be to maintain a cash balance of als 5700.000 beginning on January 31, 2020, Dividendideach month at the rate of $2,30 per share for 5.140 Sure outstanding the compow has an coiled with one of the agrement requires borrowing to be la 1.00 increments with month and repay on the last day of the month $550.000 muchas planned for For the first quarter of 2020, prepare a sales budget. WATERWAYS CORPORATION Sales Budget First Quarter February January March Quarter $ $ $ $ eTextbook and Media For the first quarter of 2020, prepare a production budget. WATERWAYS CORPORATION Production Budget First Quarter January February March Quarter eTextbook and Media For the first quarter of 2020, prepare a direct materials budget. (Round cost per pound to 2 decimal places, es. 0.25 and all other answers to 0 decimal places, e.g. 2,520.) WATERWAYS CORPORATION Direct Materials Budget First Quarter January February March Quarter $ $ $ Textbook and Media of 2020. direct labor budget. (Hound me per unit tonearest hour For the first quarter of 2020, prepare a direct labor budget. (Round time per unit to nearest hour, e.g. 30 minutes will be rounded to 0.5 hours) WATERWAYS CORPORATION Direct Labor Budget First Quarter January February March Quarter $ $ $ $ eTextbook and Media For the first quarter of 2020, prepare a manufacturing overhead budget. (Round overhead rate to 2 decimal places, eg, 5.25 and all other answers to decimal places, eg, 2.520. List Variable Costs first.) WATERWAYS CORPORATION Manufacturing Overhead Budget First Quarter February January $ $ $ S 111 5 $ For the first quarter of 2020, prepare a selling and administrative budget. (Enter per unit expenses rounded to 2 decimal proces. Eg. 1.25) WATERWAYS CORPORATION Selling and Administrative Expense Budget January First Quarter February March > $ 5 $ >> $ $ $ > $ $ 5 eTextbook and Media For the first quarter of 2020. prepare a schedule for expected cash collections from customers, January Schedule of Expected Collections from Customers February March $ Accounts receivable, 12/31/19 January sales February sales March sales Total cash collections $ eTextbook and Media For the first quarter of 2020, prepare a schedule for expected payments for materials purchases, (Round answers to decimal places, e.g. 2,520.) January Schedule of Expected Cash Payments for Purchases February March Accounts payable, 12/31/19 S January February March Total payments $ eTextbook and Media For the first quarter of 2020, prepare 3 cash budget. (Round answers to decimal places, eg: 2,5200 WATERWAYS CORPORATION Cash Budget v First Quarter January February March VE