I have included 6 questions. All I can pay right now is $25. Is that going to be ok? 1. Seas, Inc. makes and sells buckets. Each bucket uses 3/4 pound of plastic. Budgeted production of buckets in units for the next three months is as follows: April May June budgeted production 21,000 20,000 24,000 The company wants to maintain monthly ending inventories of plastic equal to 25% of the following month's budgeted production needs. The cost of plastic is $2.12 per pound. Instructions Prepare a direct materials purchases budget for the month of May 2. Herron Company has budgeted the following unit sales: 2008 Units April 25,000 May 50,000 June 75,000 July 45,000 Of the units budgeted, 40% are sold by the Southern Division at an average price of $15 per unit and the remainder are sold by the Eastern Division at an average price of $12 per unit. Instructions Prepare separate sales budgets for each division and for the company in total for the second quarter of 2008 3. Yount Company has budgeted the following unit sales: 2009 Units January 10,000 February 8,000 March 9,000 April 11,000 May 15,000 The finished goods units on hand on December 31, 2008, was 2,000 units. Each unit requires 2 pounds of raw materials that are estimated to cost an average of $4 per pound. It is the company's policy to maintain a finished goods inventory at the end of each month equal to 10% of next month's anticipated sales. They also have a policy of maintaining a raw materials inventory at the end of each month equal to 20% of the pounds needed for the following month's production. There were 3,920 pounds of raw materials on hand at December 31, 2008. Instructions For the first quarter of 2009, prepare (1) a production budget and (2) a direct materials budget. 4. Farley Company has budgeted sales revenues as follows: June July August Credit sales 135,000 145,000 90,000 Cash sales 90,000 255,000 195,000 Total sales 225,000 400,000 285,000 Past experience indicates that 60% of the credit sales will be collected in the month of sale and the remaining 40% will be collected in the following month. Purchases of inventory are all on credit and 50% is paid in the month of purchase and 50% in the month following purchase. Budgeted inventory purchases are: June 300,000 July 250,000 August 105,000 Other cash disbursements budgeted: (a) selling and administrative expenses of $48,000 each month, (b) dividends of $103,000 will be paid in July, and (c) purchase of equipment in August for $30,000 cash. The company wishes to maintain a minimum cash balance of $50,000 at the end of each month. The company borrows money from the bank at 8% interest if necessary to maintain the minimum cash balance. Borrowed money is repaid in months when there is an excess cash balance. The beginning cash balance on July 1 was $50,000. Assume that borrowed money in this case is for one month. Instructions Prepare a cash budget for the months of July and August. Prepare separate schedules for expected collections from customers and expected payments for purchases of inventory. 5. Jenner Company developed its annual manufacturing overhead budget for its master budget for 2008 as follows: Expected Annual operating capacity 120,000 Direct labor hours Variable overhead costs Indirect labor $420,000 Indirect Materials 90,000 Factory supplies 30,000 Total variable 540,000 Fixed overhead costs Depreciation 190,000 Supervision 120,000 Property taxes 96,000 Total fixed 396,000 Total costs 936,000 the relevant range for monthly activity is expected to be between 8000 and 12000 direct labor hours. Instructions Prepare a flexible budget for a monthly activity level of 8,000 and 9,000 direct labor hours. 6. Gentry Company's manufacturing overhead budget for the first quarter of 2008 contained the following data: Variable costs Indirect materials 20,000 Indirect labor 12,000 Utilities 10,000 Maintenance 6,000 Fixed costs Supervisory's salary 40,000 Depreciation 8,000 Property taxes 4,500 Actual variable costs for the first quarter were Indirect materials 18,600 Indirect labor 13,200 Utilities 10,500 Maintenance 5,300 Actual fixed costs were as expected except for property taxes which were 4,500. All costs are considered controllable by the department manager except for the supervisor's salary. Instructions Prepare a manufacturing overhead responsibility performance report for the first quarter