Hello, I need help with this accounting paper which is due tommorrow.

FINAL PROJECT TO BE COMPLETED WEEK BY WEEK, COMMENTS REVIEWED, THEN COMPILED IN WEEK 8 FOR GRADING This first intro page (1) can be deleted before submission PETER'S PET TOYS makes toys and supplies for cats and dogs out of reusable/recycled materials when possible. All problems and exercises are based on PETER'S PET TOYS. Week 6 (80 PTS) Using Word or Excel prepare the following budgets in order, for Peter's Pet Toys. Use good form. Double rule the completed budgets. Use $ signs for totals that represent dollars, to distinguish from units. Each budget should show 4 quarters of calendar year, and a total for the whole year, where appropriate. Terminology can be flexible. For example some schedules can be labeled budgets. Taken together, these individual budgets create the Master Budget. SALES FORECAST/BUDGET INFO 1) Prepare two Sales Budget by Quarter, given the following information. Format for 2 decimal Cat places.Dog Pet Castle Den Palace $384.9 Sales price, constant all year 4 $466.67 $412.37 Q1 projected sales units 247 180 100 Q2 projected sales units 281 188 115 Q3 projected sales units 308 190 131 Q4 projected sales units 333 192 139 General format/layout of the first sales budget. Castle Q1 Den Palace Castle Q2 Den Palace Castle Q3 Den Budgeted Units Sales prices Total Budgeted Sales General format of the second sales budget which will show only total sales for each quarter Q1 Total Budgeted Sales Dollars Q2 Q3 Q4 Total Palace Castle Q4 Den Palace 2) CASH COLLECTION INFORMATION for SCHEDULE OF CASH COLLECTIONS 80%3)ofPRODUCTION sales - customers use a creditforcard INFORMATION PRODUCTION BUDGET Peter's Pet Toys receives cash in the month offor sale, minus a credit card fee of 5% of the sale. Production - The 3 products can be aggregated production purposes. The sum of all the castles, dens, and palaces--combined--are the units used in the production budget. 10%There of sales - cash, immediate receipt budget of cash for upon saleproduct as they undergo the same production process. is not a separate production each 10%Peter's of sales - Peter's PettoToys offers terms of n/90, allowing thelevel customer pay inquarter's full the Finished Goods ending inventory. Pet Toys likes keep 5% of the next quarter's sales as the to current next quarter sale is made. Projections areafter that the Projected Units Sold in Q1 of the following year will be unchanged from Q4 the previous year. Format for whole #s. No decimal places. Rounding differences or errors of +/- 1 are acceptable. Beginning A/R Finished Balance isGoods $25,000, collected in units. its entirety in the first quarter. Beginning Inv for Q1 is 20 Below is the start of the body of the production budget. Format for whole #s or 2 decimals, as you wish. An outline of the schedule is shown below. Q1 Q2 Budgeted Unit Sales per Quarter, based on all products combined A/R, Beginning balance Cash Sales (10% of sales) Credit card sales (80% of sales less 5% credit card fee) Sales on account, n/90 Totals $25,000 Q1 Q3 Q2 Q4 Q3 Year Q4 (next qrtr same as this qrtr) 4) DIRECT MATERIALS BUDGET INFORMATION for DIRECT MATERIALS BUDGET The totals of the Production Budget will be used to determine the amount and cost of Direct Material needed. The amount of raw material needed to produce each completed toy is 15 lbs. Raw material cost is $1.05/lb. for Q1, Q2, Q3. It is projected to rise to $1.08/ lb. in Q4 Peter's Pet Toys likes to keep 10% of the next quarter's raw material needs, plus an additional 20 lbs. in the current quarter's ending raw material inventory. It is anticipated that Raw Material required in Q1 of the following year will be unchanged from Q4 the previous year. Format for whole #s except for the raw material cost per unit of $1.05 or $1.08. No other decimals besides these. Rounding differences or errors of +/- 1 are acceptable. Beginning Raw Materials Inv for Q1 is 75 lbs. 5) DIRECT LABOR BUDGET INFORMATION Direct labor hours per unit of production is 4.2. Wages are $18.50 per hour for Q1, Q2, and will rise to $19.50 per hour in Q3, Q4 Format for whole #s except for the labor hours of 4.2 and cost per unit of $18.50 or $19.50 No other decimals besides these. 6) CASH PAYMENTS BUDGET INFORMATION To obtain the low prices for materials, Peter's Pet Toys must pay its supplier in cash upon receipt. As a result the final line of the Direct Materials Budget also serves as the Cash Payments Budget. An additional Cash Payments Budget is not needed. 7) MANUFACTURING OVERHEAD BUDGET--TOTAL FACTORY OH AND CASH SPENT ON MFG OVERHEAD SHOULD BE SHOWN IN BUDGET Variable Mfg Overhead per quarter is for each successive quarter, $13,845, $13,972, $14,010, $14,216. The Fixed Mfg Overhead includes: Storage Shed Rental Expense (Cat Castle) $10,000 for each of the 4 quarters Depreciation Expense-Buzz Saw (Dog Den) $9,500 for each of the 4 quarters Depreciation Plant, $100,000 per year; equally divided among the 4 quarters Fixed Component of Maintenance Costs: $20,000 each quarter Fixed Component of Utilities Costs, $8,000 each quarter Plant Insurance Costs, $3,000 each quarter Format for whole #s. No decimals. 8) SELLING AND ADMINISTRATIVE EXPENSES---TOTAL S&A EXPENSE AND CASH SPENT ON S&A SHOULD BE SHOWN IN BUDGET Donation Expense, $20,000 in Q1 only. This will be an annual donation. Delivery and Assembly, $16 per unit sold. (See sales budget) Note: Certain items appear Sales Commission, $59,000, all paid in Q4. (Pet Palace) Salaries Expenses, $200,000, divided evenly among quarters Depreciation Expense on Office, $20,000 annually, evenly divided each quarter Fixed component of Maintenance Expense, $1500per quarter Fixed Component of Utilities Expense, $1,000 each quarter Office Insurance Expense, $9,000 each quarter Format for whole #s. No decimals. The outline for this budget is presented for you. 8) CASH BUDGET info to create a CASH BUDGET. In addition to the above budgets, which show the effects on cash, the following information is needed to complete the Cash budget: in both the Mfg OH Budget AND the S&A Budget. Same type of cost/expense appears in the factory and the office. Beginning cash balance is $4,000,000. An addition of $40,000 was made to Plant, Property, and Equipment in Q3. Cash was paid. In Q4 cash dividends to investors in the amount of $17,000 were issued. No financing, no borrowing, no interest, no repayments. The cash balance remains very high throughout the year. Format for whole #s. No decimals