D E F G H ate the required budgets in the Master Budgeting model using the information vided. 1 Record the following capital contributions on Worksheet C: Contributions Partner A January 100,000 Partner B January 125,000 Partner C January 115,000 Partner D January 95,000 2 Allocate 45% of the initial owner investment to cash and the remainder to the Money Market account Any subsequent contributions are allocated to the cash account 3 Record PPE of 150,000 short term is 50,000 and the remainder is long term 4 Sales Information is as follows: Item A Item B Item C Selling Price per Unit 50 S 65 S 75 Units Sold - Q1 700 725 500 Units Sold - Q2 650 675 620 Units Sold - Q3 600 650 630 5 Expected Cash collections are: 25% in the month of sale Instructions Sales Collections Production Schedule DM DLandMOH Disbursements CashBud ady Type here to search O eD E F G H 5 Expected Cash collections are: 25% in the month of sale 70% in the month following sale 5% in the second month following sale 6 In Q2, record an additional contribution from Partner B of 5,000 7 Record Interest Income as follows: Q1 250 Q2 300 Q3 350 8 In Q2, record a Withdrawal from Partner C of 5,000 9 The end of month Finished Goods inventory must | 45% of the next months sales 10 The company does not have any prior year activity, and Q4 sales in units 1500 11 Use the following information to records the Direct Materials Budget: a Raw material needed to produce each unit 2 lbs b The ending RM inventory is 30% of the following months production need c 04's Raw Materials requirements are 2,000 Ibs d There is no prior year activity 0 e RM cost per pound is $ 2.50 f Record the raw materials costs on Worksheet C with corresponding debits and credits and allocate the following amounts to COGS Instructions Sales 01 80% Collections Production Schedule DM | DLandMOH | Disbursements dy EO Type here to search O eX V fx Units Sold - Q1 C D E There is no prior year activity H O RM cost per pound is $ 2.50 Record the raw materials costs on Worksheet C with corresponding debits and credits and allocate the following amounts to COGS Q1 80% Q2 95% Q3 90% g 100% of Raw Materials were paid for at time of purchase 2 Manufacturing and Direct Labor infromation is as follows: The compay's variable manufacturing overhead rat $4.00 per direct labor hour. The company's fixed manufacturing overhead is $15,000 per quarter Depreciation expense is $3,000 per quarter 13 Direct Materials, Direct Labor and MOH payments were made at 100% in the month of purchase 14 Anticipated Operating Expenses are as follows: Q1 145,000 Q2 125,000 03 130,000 15 Operating Expenses were paid as follows: Q1 0.90 Q2 0.95 Q3 0.80 Collections Production Schedule | DM | DLandMOH | Disbursements Ca Instructions Sales Type here to search O eile Home Insert Draw Page Layout Formulas Data Review View Develo X Cut Calibri LE Copy ~ 12 AA -= = 27 ab Wrap Text Paste Format Painter BIU~ ~ . A EEE EE _ Merge & Cent Clipboard Font Alignment B22 X fx B D 5 6 Create the manufacturing overhead budget for Q1, Q2 & Q3. 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Instructions Sales Collections Production Schedule DM DLandMOH Disbursement Ready Lo Type here to search O e
