For the sales budget : i need Budgeted sales in units, selling price per unit, Total budgeted sales

For the production budget: I need Budgeted sales in units, Add: Desired Ending inventory, Total needs, Beginning inventory, Required production

for the Direct materials budget: Production(units), materials per unit, production needs, desired ending materials inventory, total needed, beginning balance, materials to be purchased, cost of materials per pound, cost of materials to be purchased

for the direct labor budget: units of production, direct labor hours per unit, labor hours required, guaranteed labor hours, labor hours paid, hourly wage, total direct labor cost

for the direct labor budget (overtime): units of production, direct labor hours per unit, labor hours required, guaranteed labor hours, labor hours paid, hourly wage, Regular hours pay, Overtime, overtime wage, overtime hours pay, total direct labor cost

manufacturing overhead budget: Budgeted direct labor hours, variable MOH rate, total variable moh, fixed overhead, total MOH, non-cash costs, cash disbursements for MOH costs

cost of goods sold budget: Production costs per unit, direct materials, direct labor, MOH, Budgeted finished goods inventory, Ending inventory in units, unit product cost, Ending FG inventory,

selling and administrative expense budget: Budgeted sales in units, variable S&A rate, total variable S&A expense, Add: Fixed S&A expense, Equal: Total S&A expenses, Less: non-cash S&A expenses, Equal: Cash disbursements to S&A expenses

cash collections of sales, cash payments for materials, and cash budget. AS REQUIRED

Manufacturing overhead costs are allocated based on direct labor hours.

FOR the income statement: Sales, Less: COGS, Equal: gross profit, Less: Selling and admin expenses, net operating income, interest expense, net income

For the balance sheet, Assete, cash, accounts receivable, inventory, equipment, land, total assets, liabilitites and equity, accounts payable, equity, common stocks, retained earnings, total liabilites and equity

The DiamondStone Company manufactures touring tires for motorbikes. DiamondStone sells tires for $55 each. DiamondStone is planning for the next year by developing a master budget by quarters. DiamondStone's balance sheet for December 31, 2020, follows: Assets Current Assets: Cash $ 20,000 Accounts Receivable 25,000 Raw Materials Inventory 3,000 Finished Goods Inventory 5,800 Total Current Assets $ 53,800 Property, Plant, and Equipment: Equipment 175,000 Less: Accumulated Depreciation (57,000) 118,000 Total Assets $ 171,800 Liabilities Current Liabilities: $ 5,000 Accounts Payable Stockholders' Equity Common Stock $ 125,000 Retained Earnings 41,800 Total Stockholders' Equity Total Liabilities and Stockholders' Equity 166,800 $ 171,800 Other data for DiamondStone Tire Company: a. Budgeted sales are 700 tires for the first quarter and expected to increase by 50 tires per quarter. All sales are on account. b. Finished Goods Inventory on December 31 consists of 200 tires at $29 each. c. Desired ending Finished Goods Inventory is 20% of the next quarter's sales; first quarter sales for 2022 are expected be 900 tires. d. Each tire requires 3 pounds of rubber; is costs $3 per pound. e. Desired ending Raw Materials Inventory is 20% of the next quarter's direct materials needed for production; desired ending inventory for December 31, 2022 is $900. The company started 2021 with 600 pounds of materials at the cost of $5 each. f. Each tire requires 0.40 hours of direct labor; direct labor costs average $10 per hour. The company applies a layoff policy". g. Variable manufacturing overhead is $13 per labor hour. h. Fixed manufacturing overhead includes $3,000 per quarter in depreciation and $1,770 per quarter for other costs, such as insurance. i. Fixed selling and administrative expenses include $7,500 per quarter for salaries; $3,150 per quarter for rent; $1,500 per quarter for insurance; and $2,000 per quarter for depreciation. j. Variable selling and administrative expenses is $1 per unit sold. k. Capital expenditures include $47,000 for new manufacturing equipment, to be purchased and paid in the first quarter. Another $25,000 cash purchase of equipment will be made in quarter 4. 1. Cash receipts for sales on account are 65% in the quarter of the sale and 35% in the quarter following the sale; December 31, 2020, Accounts Receivable is received in the first quarter of 2021. m. Direct materials purchases are paid 75% in the quarter purchased and 25% in the following quarter; December 31, 2020, Accounts Payable is paid in the first quarter of 2021. n. Direct labor, manufacturing overhead, and selling and administrative costs are paid in the quarter incurred. 0. Common Stock at year end 2021 will be $122,878.9 p. DiamondStone desires to maintain a minimum cash balance of $5,000 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 12% per year and paid at the beginning of the quarter based on the amount outstanding from the previous quarter. Requirements 1. Prepare DiamondStone's operating budget and cash budget for 2021 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, cash collections of sales, cash payments for materials, and cash budget. Manufacturing overhead costs are allocated based on direct labor hours. 2. Prepare DiamondStone's annual financial budget for 2021, including budgeted income statement and budgeted balance sheet