Hi can you help solving the balance sheet and cash budget in this document i have attachmen the photo of things u need to solve

Instructions Sales Budget Production Budget Direct materials Budget Direct Labour budget Manufacturing Overhead Budget Cost Balance Sheet at 31st December 2021 Max. Points |Group Points Assets Current Assets Cash Accounts receivable Finished goods inventory Raw materials inventory Total Current Assets: Property. Plant & equipment Less: Accumulated depreciation Total ussets: Liabilities and Shareholders Equity Liabilities Accounts payable Bank Loan Shareholders Equity Common Stock Retained Earnings Total Shareholders Equity: Total Liabilities and Shareholders Equity Statement of Retained Earnings as at NIst December 2021 Opening balance Net Income Less Dividends Closing balance Recreated from information provided: Balance Sheet at 31st December 2020 Assets Current Assets Cash Accounts receivable Finished goods inventory Raw materials inventory Total Current Assets: Property, Plant & equipment Less: Accumulated depreciation Total assets: Liabilities and Shareholders Equity Liabilities Accounts payable Shareholders Equity Common Stock Retained Earnings Total Shareholders Equity: Total Liabilities and Shareholders EquityCASH BUDGET Year Beginning cash balance Add: Receipts Collections from Customers Toul receipts: Total available cash: Less: Disbursements Direct Materials Direct Labour Manufacturing Overhead Selling and Administrative expenses Purchase of a truck Income Tax expense Dividends Total disbursements: Excess ( deficiency) of available cash over cash disbursements Financing Add: Borrowings Less: Repayments (including interest) Ending cash balance Notes: Minimum cash balance: $10,000 Interest on loans to be paid in Quarter 4 Taxation amount taken from the Income Statement8:31 . LTE Back my edit.xlsx Instructions Sales Budget Production Budget Direct materials Budget Direct Labour budget Mar ACCT-5012 - CASE STUDY Fine Office Company Marking Rubric Tab Max. Points Group Points Fine Office Company makes office furniture for offices. They are in the process of preparing Sales a Master Budget including the Operating budget, Cash Statement, Income Statement Production and Balance Sheet for 2021. The yearly budget is broken into quarters. The year end is Dir. Materials 31st December 2021. Your group has been requested to compile a master budget for the Dir. Labour fiscal year 2021. Manufacturing OH Package is to include the following budgets; Cost of Ending Finished Inv. 1. Sales budget for each quarter and for the year COGS 2. Production budget for each quarter and for the year Selling & Admin 3. Purchasing Budget for each quarter and for the year 4. Direct labour budget for each quarter and for the year CVP I/S 5. Manufacturing overhead budget for each quarter and for the year Cash 6. Selling and Administration budget Cash Worksheets 7. Work sheets for Collections and Disbursements B/S 8. Budgeted Income Statement Total 9. CVP Income Statement 10, Budgeted Cash Statement 11. Budgeted Balance Sheet Additional details: . Fine Office Company produces two products P100 and P200 Sales price per P100 is $3,648 Sales price per P200 is $4.032 . There are 800 units from P100 in finished goods inventory at the end of 2020 with a value of $ 360,000 and 500 units from P200 at the er of 2020 value 300.000 . At the end of each quarter, Fine Office Company requires ending inventory to be equal to 13% of the following quarter's budgeted sales in units. The required ending inventory for Dec. 31, 2021 are 600 units for P100 and 400 units for P200 . Each P100 unit uses 304 sq. ft. of steel during the manufacturing process. The cost of steel for 2021 is estimated to be $ 8 per sq. ft. Each P200 unit uses 36 sq. ft. of steel during the manufacturing process. Fine Office Company currently has 30,000 sq. ft. of steel in the beginning inventory. At the end of each quarter, Fine Office Company wants to have 243,200 sq. ft. of ending inventory. . Each product requires 24.32 machine hours and 12.16| direct labour hrs to produce. Direct Labour costs $ 85.12 per direct labour hour. . Fine Office Company allocates manufacturing overhead costs based on the estimated machine hours. Estimated manufacturing overhead cost for 2021 are 3,830,400 and are all variable. For each quarter, it is estimated that 40 % of sales will be cash and 60 % will be credit sales. Of the credit sales, 80% pay in the quarter of the sale and 20% pay in the following quarter. Credit sales from Q4 2020 were $1,300,000 Direct labour costs and manufacturing overhead costs are paid for in cash in the quarter they occurred. . Assume operating expenses occur evenly throughout the year and are all paid in cash. For each quarter, 70 % of material purchases are paid for in cash in the quarter of the purchase and 30 % are paid in the following quarter. Purchases of materials from Q4 2020 were $1,500,000 Fine Office Company Additional details continued: . Fine Office Company will pay $60,000 in dividends in Q4 . Currently, the cash balance in the bank is $15,000. Fine Office Company wants to maintain a minimum cash balance of $10,000 in the bank for each quarter. Budgeted sales volumes are: P100 26144 Q2 27968 27360 Q4 29184 P200 31372 02 33561 03 32832 04 35020 . Selling and Administration expenses for the budgeted year are as follows; Variable Cost: Delivery costs are based on 0.3 per sales unit. Commissions are based on 0.1 % of sales value. Fixed Costs: Accounting & professional services 3600 Administrative & Sales Salaries 140000 Advertising 20000 Computer cost 9000 Depreciation 70000 Office Supplies 5000 Printing 3000 Insurance 4000 Property taxes 2000 Rent 40000 Utilities 3400 Total Fixed Costs 300000 . Fine Office Company will purchase a new machine on 1/1/2021 worth $ 700000 and will make two equal payments. The first payment will be in Q2 and the second in Q4. Assume the machine was purchased at the beginning of the year. Taxation is 30 % on taxable income and paid at the end of Q 4 each year. . Balance sheet information as at 31st December 2020 is as follows; PPE $100,000 Accumulated Depreciation $100,000 Common Stock $580.000 Retained Earnings $145,000 For Cost of goods sold (COGS); Add total costs of production + Beginning Finished goods - Ending Finished goods Inventory Interest of $ 9000 on loans is paid in total at the end of the year and is a fixed cost