hit like button if answer helped. Sales Budget Jan Feb Mar First Quarter Apr May Budgeted sales (Units) 1,200 1,225 1,300 3,725 1,350 1,400.00 Times selling price per unit $ 70.0 $ 70.0 $ Budgeted Total Sale $ 84,000 $ 85,750 $ 70.0 $ 91,000 $ 70.0 $ 70.0 260,750 $ 94,500 Schedule of expected cash collection Jan Feb Mar First Quarter Accounts Receivable, Beginning January Sale February Sale March Sale Total Cash Collections Production Budget Budgeted sales (Units) Add: Desired Ending Inventory Total Need $ 35,350 $ 14,700 $ 50,050 Jan Sale*75%, 15% and 10% $ 63,000 $ 12,600 $ 8,400 $ 84,000 Feb Sale*75% and 15% $ 64,313 $ 12,863 $ 77,175 Mar Sale *75% $ 68,250 $ 68,250 $ 98,350 $ 91,613 $ 89,513 $ 279,475 Jan Feb Mar Total Apr May 1,200.00 1,225.00 1,300.00 10% 122.50 130.00 135.00 3,725.00 135.00 1,350.00 1,400.00 140.00 1,322.50 1,355.00 1,435.00 3,860.00 1,490.00 Total Need Less: Beginning Inventory Required Production (units) Direct Material Purchase Budget-Lumber Required Production (units) Lumber needs per unit (yards) Lumber needs for production Add: Desired Ending Inventory Less: Beginning Inventory Total lumbers to be purchased (Yards) Cost of lumber per yard Total cost of lumbers to be purchased Direct Material Purchase Budget-Shingles Required Production (units) Shingles needs per unit Shingles needs for production -100.00 1,222.50 -122.50 1,232.50 -130.00 1,305.00 -100.00 -135.00 3,760.00 1,355.00 Jan Feb Mar Total Apr 1,222.50 4.00 1,232.50 4.00 1,305.00 4.00 4,890.00 4,930.00 5,220.00 3,760.00 4.00 15,040.00 1,355.00 4.00 5,420.00 25% 1,232.50 1,305.00 1,355.00 1,355.00 6,122.50 6,235.00 6,575.00 16,395.00 -800.00 -1,232.50 -1,305.00 -800.00 5,322.50 5,002.50 5,270.00 15,595.00 3.00 15,967.50 3.00 15,007.50 3.00 15,810.00 3.00 46,785.00 Jan Feb Mar Total Apr 1,222.50 50.00 61,125.00 Add: Desired Ending Inventory Total Need Less: Beginning Inventory 25% 15,406.25 1,232.50 1,305.00 50.00 50.00 61,625.00 65,250.00 16,312.50 16,937.50 3,760.00 50.00 188,000.00 1,355.00 50.00 67,750.00 16,937.50 76,531.25 77,937.50 82,187.50 -15,000.00 -15,406.25 -16,312.50 204,937.50 -15,000.00 Total Shingles to be purchased Cost per unit Total cost of Shingles to be purchased 61,531.25 0.20 62,531.25 0.20 12,306.25 12,506.25 65,875.00 0.20 13,175.00 189,937.50 0.20 37,987.50 A 1 Birdhouse Unlimited 2 Budgeted Income Statement B C D E 3 For the Quarter Ended March 31, 2013 4 5 6 Sales 7 Less cost of goods sold 8 Gross margin 9 Less selling and administrative expenses 10 Operating income 11 Less interest expense Source (Hints) Sales Budget Sales/Finished Goods Budget SG&A Budget Cash Budget 12 Net income 13 14 15 16 FL G H I J 12345 Birdhouse Unlimited 2 Budgeted Balance Sheet March 31, 2013 Assets 6 Current assets: 7 Cash 8 9 Accounts receivable Raw materials inventory 10 Finished goods inventory 11 Total current assets Source (Hints) Cash Budget Sales/Cash Collections Materials Budget End FG Inv Budget 12 Plant and equipment: 13 14 15 16 17 18 19 Land Buildings and equipment Accumulated depreciation Plant and equipment, net Total assets Liabilities and Stockholders' Equity 20 Current liabilities: Accounts payable 21 22 Note Payable (LOC) 23 Stockholders' equity: 24 Common stock 25 Retained earnings 26 Total stockholders' equity 27 Total liabilities and stockholders' equity 28 20 Beg Balance Sheet Beg BS+Cash Budget Beg BS+ MOH + S&A Budget Materials Budget Cash Budget Beg Balance Sheet Beg BSIS Cash Budget