help with question 2 and 3
5/14/2020 Print Assignment: EXAM III - Budget Problems (CH 22) ::true Question 1 Sandhill Company is preparing its master budget for 2020. Relevant data pertaining to its sales, production, and direct materials budgets are as follows. Sales. Sales for the year are ex re year are expected to total 2,000,000 units. Quarterly sales are 22%, 26%, 27%, and 25%, respectively. The sales price is expected to be $40 per unit for the first three quarters and $47 per unit beginning in the fourth quarter. Sales in the first quarter of 2021 are expected to be 15% higher than the budgeted sales for the first quarter of 2020. volume . Production. Management desires to maintain the ending finished goods inventories at 25% of the next quarter's budgeted sales Direct materials. Each unit requires 2 pounds of raw materials at a cost of $11 per pound. Management desires to maintain raw materials inventories at 10% of the next quarter's production requirements. Assume the production requirements for first quarter of 2021 are 498,000 pounds. Prepare the sales, production, and direct materials budgets by quarters for 2020. SANDHILL COMPANY Sales Budget Quarter 2 3 Year SANDHILL COMPANY Production Budget Quarter SANDHILL COMPANY Direct Materials Budget Quarter Question 2 are as follows. Crane Company is preparing its budgeted income statement for 2020. Relevant data pertaining to its sales, production, and direct materials budgets Sales. Sales for the year are expected to total 1,400,000 units. Quarterly sales are 20%, 25%, 26%, and 29%, respectively. The sales price is expected to be $41 per unit for the first three quarters and $46 per unit beginning in the fourth quarter. Sales in the first quarter of 2021 are expected to be 10% higher than the budgeted sales for the first quarter of 2020. https://edugen.wileyplus.com/edugen/shared/assignment/test/agprint.uni?numberQuest=true&title Type=true 1/25/14/2020 Print Assignment: EXAM III - Budget Problems (CH 22) ::true Production. Management desires to maintain the ending finished goods inventories at 22% of the next quarter's budgeted sales volume. Direct materials. Each unit requires 2 pounds of raw materials at a cost of $10 per pound. Management desires to maintain r are 496,000 pounds. inventories at 10% of the next quarter's production requirements. Assume the production requirements for first quarter of 2021 Crane budgets 0.3 hours of direct labor per unit, labor costs at $12 per hour, and manufacturing overhead at $18 per direct labor hour. Its budgeted selling and administrative expenses for 2020 are $6,595,000. Calculate the budgeted total unit cost. (Round answer to 2 decimal places, e.g. 12.25.) Total unit cost $ Prepare the budgeted multiple-step income statement for 2020. (Ignore income taxes.) CRANE COMPANY Budgeted Income Statement Question 3 Carla Vista Company management wants to maintain a minimum monthly cash balance of $19,100. At the beginning of April, the cash balance is $19,100, expected cash receipts for April are $245,800, and cash disbursements are expected to be $254,100. How much cash, if any, must be borrowed to maintain the desired minimum monthly balance? Amount to be borrowed to maintain the desired minimum monthly balance $ https://edugen.wileyplus.com/edugen/shared/assignment/test/agprint.uni?numberQuest=true&title Type=true 2/2
