Hello. I have posted something I have been working on and the pics I have included I know are right for part one. I need help with the rest. The pics show the format it should be in. Thank you

The ChocoAlmo Company produces and sells chocolate bars filled with almond pieces.

The 6-oz chocolate bar has two direct materials: 100% organic cacao beans and 100%

organic almonds. The production process includes creating the chocolate from scratch

using the cacao beans and chopping the almonds into the pieces that fill the chocolate bar.

Indirect materials include very minimal amounts of sugar, milk, and salt, in addition to

some packaging materials. ChocoAlmo is preparing budgets for the 2nd quarter ending

June 30, 2021. For each requirement below prepare budgets by month for April, May and

June, and a total budget for the quarter.

1. The previous years sales (2020) for the corresponding period were:

April

May

June

July

August

35,000 chocolate bars

44,000 chocolate bars

37,000 chocolate bars

45,000 chocolate bars

42,000 chocolate bars

The company expects the above volume of bar sales to increase by 7% for the period

April 2021 August 2021. The budgeted selling price for 2021 is $9.00 per chocolate

bar. The company expects 85% of its sales to be cash (COD) sales. The remaining 15%

of sales will be made on credit. Prepare a Sales Budget for ChocoAlmo.

2. The company desires to have finished goodsinventory on hand at the end of each month

equal to 14 percent of the following month's budgeted unit sales. On March 31, 2020,

the company expects to have 5,243 chocolate bars on hand. (Note: an estimate of sales

in July is required in order to complete the production budget for June). Use the

@ROUND function to round to the nearest whole number the number of

chocolate bars desired in ending inventory. Prepare a Production budget.

3. The chocolate bars require two direct materials: Cacao Beans and Almonds.

Cacao Beans

Each chocolate bar requires 0.45 pounds (lbs) of Cacao beans. Management desires to

have materials on hand at the end of each month equal to 11 percent of the following

month's chocolate bar production needs. Use the @ROUND function to round to the

nearest whole number the number of pounds of cacao beans desired in ending

inventory. The beginning inventory of cacao beans, in April 2021, is expected to be

1,921 pounds. Cacao beans are expected to cost $8 per pound. (Note: budgeted

production in July is required in order to complete the direct materials budget for June. Our supplier only allows purchases in whole pounds, so use the @ROUND

function to round to the nearest whole number the number of pounds to

purchase).

Almonds

Each chocolate bar also requires 0.10 pound of almonds. Management desires to have

almonds on hand at the end of each month equal to 15 percent of the following month's

production needs. Use the @ROUND function to round to the nearest whole

number the number of pounds of almonds desired in ending inventory. The

beginning inventory, in April 2021, is expected to be 582 pounds of almonds. Almonds

are expected to cost $7 each. (Note: budgeted production in July is required in order to

complete the direct materials budget for June. Use the @ROUND function to round

to the nearest whole number the number of pounds of almonds to purchase.

Prepare a Direct Materials budget. Also, because two direct materials are required

for production cacao beans and almonds - you will need a separate schedule for each

direct material.

4. Each chocolate bar requires 0.05 hours of direct labor. Direct labor costs the company

$20 per hour. Prepare a Direct Labor budget.

5. ChocoAlmo budgets indirect materials (e.g., sugar, salt, packaging materials) at $0.20

per chocolate bar. Other variable components are $0.12 per bar for indirect labor and

$0.15 per bar for utilities. The following fixed costs per month are budgeted for indirect

labor, $4,000, depreciation, $9,000, and other, $2,000. Prepare a Manufacturing

Overhead budget.

6. Variable selling and administrative expenses consist of outward freight ($200 per 1,000

chocolate bars) and sales commission (4 percent of the selling price per bar). Fixed

selling and administrative expenses include administration ($30,000 per month) and

marketing ($40,000 per month). Prepare an Operating Expenses budget.

7. Prepare a Budgeted Manufacturing Cost per unit budget. Refer to exhibit 9-11 for

guidance. To calculate FMOH/unit calculate total FMOH for the year and divide this

by budgeted production for the year. The total production volume for the year is

budgeted at 500,000 chocolate bars.

8. Prepare a Budgeted Income Statement for the quarter for ChocoAlmo. Assume

interest expense of $0, and income tax expense of 18% of income before taxes.

ChocoAlmos goal for the quarter is to make its net income greater than 8% of its sales

revenue. To determine whether the company achieves the goal, use @IF function. In

the IF function, you need to label Achieved if it achieves the goal (if the condition is

met) or Not Achieved if it does not achieve (if the condition is not met). Use the

CELL right next to Net Income cell to make the IF function that returns one of the

labels based on whether the condition (net income > sales revenue*8%) is met or not

AU Anal Merge & Center $ Pete I Format Printer Alignment gboard Fort B11 fr 2020 Sales D A 1 ChocoAlmo Company 2 2021 Budget Assumptions 3. Prepared by $ 9.00 85% 15% 7% 35,000 bags 44,000 bags 37,000 bags 45,000 bags 42,000 bags 5 Sales Budget Assumptions 6 Unit Price 2 Percentage of Cash Sale 8 Percentage of Credit sale 9 Expected sales increase 10 11 2020 Sales 12 April 13 May 14 June 15 July 16 August 17 18 19 Production Budget Assumptions 20 Desired ending inventory 21 Beginning inventory 22 23 Direct Materials Budget Assumptions 24 25 26 27 Direct Labor Budget Assumptions Assumptions Budgets 14% 5,243 chocolate bars Type here to search * Arial 52 General Ih Copy - A A ? 2 Weap text A Es Merge Center $ - % Tom 11 X V 2020 Sales 14% 5,243 chocolate bars A 3 19 Production Budget Assumptions Desired ending inventory 1 Beginning inventory -2 a Direct Materials Budget Assumptions 4 5 G Direct Labor Budget Assumptions 3 Manufacturing Overhead Budget Assumptions Operating Expense Budget Assumptions Budgeted Manufacturing Cost Per Unit Budget Assumptions Budget Income Statement Assumptions Assumptions Budgets Type here to search O TI 3 * Fortinet % C C X f 11 A 1 Chocolmo Company 2021 Budget Assumptions 3. Prepared by: Student Name 4 5 April May June Quarter July August April May June Quarter July August 7 Sales Budget 3 Unit Sales Unit Price 1 Sales Revenue $ $ 37 450.00 47.080.00 39,590.00 124.120.00 8.00 $ 9.00 $ 9.00 $ 9.00 337 050.00 S 423 720.00 $ 356 310.00 $ 1.117.080.00 48,150.00 44.940.00 $ 9.00 $ 3.00 $ 433,350.00 $ 404 460.00 Cash Sale Credit Sale Total 85% $ 15% $ 288.492.50 $ 360,162.00 $ 302,863.50 S 949,518.00 50,557 50 63.558.00 53,446,50 167.562.00 337.050.00 $ 423,720.00 $ 356,310.00 $1,117,080.00 $368,347.50 $ 343.791.00 65,002 50 60,689,00 $433.350.00 $ 404.460.00 April May June Quarter July August 124.120 48.150.00 44,940.00 37 450 6.591 47080 5,543 39,590 6.741 Production Budget Unt sales Desired ending inventory Total needed Beginning inventory May April June Quarter July August NMD Assumptions Budgets D O a TE @ # Type here to search file Home Page Layout Data View X Ariel 12 An 11 % It To 86 - $ 11 D April E May June Quarter July August 27 Direct Material Budget 29 30 31 32 Direct Labor Budget 313 April May June Quarter July August April May June Quarter July August 36 7 MOH Budget 9 0 April May June Quarter Quarter July August 2 Operating Expense Budget June July April Quarter August May Budget Manufacturing Cost per Unit Budget Income Statement Assumptions Budgets a O # BI E Type here to search