I could use some assistance with preparing this master budget. I got as far as the cash budget, Im totally lost on this portion.

The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017 nts eBook Print ZGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory Total current assets Equipment, gross Accumulated depreciation Equipment, net Total assets Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term note payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and equity $ 44,00 500,000 90,200 444,000 1,078, 200 608,000 (154.000) 454,000 $ 1,532,200 ferences $ 211,308 16,000 227,300 505,000 732,300 339,000 460.900 799,900 $ 1,532,200 To prepare a master budget for April, May, and June of 2017. management gathers the following information: 1 Doc a. Sales for March total 25,000 units. Forecasted sales in units are as follows. April, 25,000, May 16,300, June, 21,100, and July, 25,000. Sales of 244,000 units are forecasted for the entire year. The product's selling price is $25.00 per unit and its total product cost is $22.20 per unit. b. Company policy calls for a given month's ending raw materials inventory to equal 50% of the next month's materials requirements The March 31 raw materials inventory is 4,510 units, which complies with the policy. The expected June 30 ending raw materials inventory is 4.400 units. Raw materials cost $20 per unit. Each finished unit requires 0.50 units of raw materials c. Company policy calls for a given month's ending finished goods inventory to equal 80% of the next month's expected unit sales The March 31 finished goods inventory is 20,000 units, which complies with the policy. d. Each finished unit requires 0.50 hours of direct laborat a rate of $19 per hour e Overhead is allocated based on direct labor hours. The predetermined variable overhead rate is $310 per direct labor hour Depreciation of $23.920 per month is treated as fixed factory overhead 1. Sales representatives commissions are 6% of sales and are paid in the month of the sales. The sales manager's monthly salary is $3,400 9. Monthly general and administrative expenses include $15,000 administrative salaries and 0.8% monthly interest on the long-term note payable h. The company expects 20% of sales to be for cash and the remaining 80% on credit. Receivables are collected in full in the month All raw materials purchases are on credit, and no payables arise from any other transaction one month's raw materials purchases are fully paid in the next month. J. The minimum ending cash balance for all months is $44.000. If necessary, the company borrows enough cash using a short-term note to reach the minimum Short-term notes require an interest payment of 1% at each month-end (before any repayment). If the ending cash balance exceeds the minimum, the excess will be applied to repaying the short-term notes payable balance. k. Dividends of $14,000 are to be declared and paid in May 1. No cash payments for income taxes are to be made during the second calendar quarter Income tax will be assessed at 40% in the quarter and paid in the third calendar quarter m. Equipment purchases of $134,000 are budgeted for the last day of June Prey 1 of 1 : Next Required: Prepare the following budgets and other financial information as required All budgets and other financial information should be prepared for the second calendar quarter, except as otherwise noted below. (Round calculations up to the nearest whole dollar, except for the amount of cash sales, which should be rounded down to the nearest whore dollar.): 1. Sales budget 2. Production budget 3. Raw materials budget. 4. Direct labor budget 5. Factory overhead budget 6. Selling expense budget 7. General and administrative expense budget 8. Cash budget. 9. Budgeted income statement for the entire second quarter (not for each month separately). 10. Budgeted balance sheet