I have most of it done but i need help on some of the ending parts. thanks

Valvula Ur Fixed-Cost Component ($) Variable-Cost Component ($) Supplies 1.00 Power 0.50 Maintenance 30,000 Supervision 16,000 Depreciation 200,000 Taxes 12,000 Other 80,000 0.50 e. Monthly selling and administrative expenses are also estimated using a flexible budgeting formula. (Note: Activity is measured in units sold.) Fixed Variable Costs ($) Costs (5) Salaries 50,000 Commissions 2.00 Depreciation 40,000 Shipping 1.00 Other 20,000 0.60 F. The unit selling price of the subassembly is $205. 9. All sales and purchases are for cash. The cash balance on January 1 equals $400,000. The firm requires a minimum ending balance of $50,000. If the firm g. All sales and purchases are for cash. The cash balance on January 1 equals $400,000. The firm requires a minimum ending balance of $50,000. If the firm develops a cash shortage by the end of the month, sufficient cash is borrowed to cover the shortage. Any cash borrowed is repaid at the end of the quarter, as is the interest due (cash borrowed at the end of the quarter is repaid at the end of the following quarter). The interest rate is 12% per annum. No money is owed at the beginning of January Required: 1. Prepare a monthly operating budget for the first quarter with the following schedule. (Note: Assume that there is no change in work-in-process inventories.) a. Schedule 1: Sales Budget. Do not include a multiplication symbol as part of your answer. Allison Manufacturing Sales Budget For the Quarter Ended March 31 January February March Units Selling price $ Sales 300.000 12,300,000 30,750,000 OW Conect 5. Schedule 2 Production budget. Allison Manufacturing Production Budget For the Quarter Ended March 31 January February Sales 50.000 ,00 Desired ending inventory 48.000 Accounting numer fald Total needs 10000 Less: Beginning inventory Units to be produced 60,000 Correct c. Schedule 3: Direct Materials Purchases Budget. Do not include a multiplication symbol as part of your answer Allison Manufacturing Direct Materials Purchases Budget For the Quarter Ended March 31 February February Metal Components March Metal January Metal January Components Total Metal Total Componen Components Units to C. Schedule 3: Direct Materials Purchases Budget. Do not include a multiplication symbol as part of your answer. Allison Manufacturing Direct Materials Purchases Budget For the Quarter Ended March 31 January February January Metal February Metal March Metal Components Components cmponents March Total Metal Components Units to 48.000 $8,000 60,000 60,000 166,000 165,000 produced Direct materials per unit Production needs Desired ending Inventory 348,000 0,000 1,400,000 290. ISO 720.000 63.000 SOR. 8.00 1. 240,000 144,000 174,000 300,000 10,000 240.000 Beginning Inventory Dec materials to be 530.000 316,000 354,000 600.000 364,800 1,728.000 .00 purchased Costet 8 1.770.000 4.864.000 5 .34.000 13.34,000 $ S16,000 d. Schedule 4: Direct Labor Budget. If required, round amounts to the nearest cent. Do not include a multiplication symbol as part of your answer. Allison Manufacturing Direct Labor Budget For the Quarter Ended March 31 January February 48,000 $8,000 March 60,000 166,000 3 Units to be produced Direct labor time per unit (hours) Total hours needed Cost per hour 144,000 174,000 180,000 498,000 14.25 14.25 $ 14.25 1425 Total cost 2,052,000 $ 2,479,500 2,565,000 $ 7,096,500 Check My Work Correct e Schedule 5: Overhead Budget. If required, round amounts to the nearest cent. Do not include a multiplication symbol as part of your answer. Allison Manufacturing Overhead Budget For the Quarter Ended March 31 January February 14. 74.000 March Restretan rart where hire Variable overhead rate $ 2.40 2.00 Budgeted variable overhead S 345,600 417,600 $ 2.000 1.195.2007 Budgeted fixed overhead 338,000 338,000 338,000 1,014,000 Total overhead 63.600 $ 755.600 770.000 $ 2,209,200 Feedback Check My Work Correct f. Schedule 6: Selling and Administrative Expenses Budget. If required, round amounts to the nearest cent. Do not include a multiplication symbol as part of your answer. Allison Manufacturing Selling and Administrative Expenses Budget For the Quarter Ended March 31 January February Planned sales Variable selling and administrative expenses per unit 144,000 N0 v Total variable expense Fored selling and administrative expenses: Sales 50 100 Salaries 50,000 50,000 .000 1 .000 Depreciation Other 20,000 Total fixed expenses 110,000 110,000 110,000 $ 380,000 Total selling and administrative expenses 254.000 $ 290,000 $ 325,000 $ 870,000 Tour dy Work Correct Schedule 7: Ending Finished Goods Inventory Budget. If required, round amounts to the nearest cent. Allison Manufacturing Ending Finished Goods Inventory Budget For the Quarter Ended March 31 Unit cost computation: Direct materials: Components Direct labor red g. Schedule 7: Ending Finished Goods Inventory Budget. If required, round amounts to the nearest cent. Allison Manufacturing Ending Finished Goods Inventory Budget For the Quarter Ended March 31 Unit cost computation: Direct materials: Metal Components Direct labor Overhead: Variable Fixed Total unit cost Finished goods inventory Feedback T rock My Work Partially correct h. Schedule 8: Cost of Goods Sold Budget. h. Schedule 8: Cost of Goods Sold Budget. Allison Manufacturing Cost of Goods Sold Budget For the Quarter Ended March 31 Direct materials Metal Components Direct labor used Overhead Budgeted manufacturing costs Add: Beginning finished goods Cost of goods available for sale Less: Ending finished goods Budgeted cost of goods sold Check My Work Incorrect 1. Schedule 9: Budgeted Income Statement. Use a minus sign to indicate a negative amount. Allison Manufacturing Budgeted Income Statement For the Quarter Ended March 31 $ 30,750,000 Sales Less: Cost of goods sold Gross margin Less: Selling and administrative expenses 870,000 Income before taxes Feedback Check My Work Partially correct j. Schedule 10: Cash Budget. If an amount is zero, enter "0". Use a minus sign to enter a negative amount. Allison Manufacturing Cash Budget For the Quarter Ended March 31 January February 400,000 $ 50,000 March Total Beginning balance 8.200.000 j. Schedule 10: Cash Budget. If an amount is zero, enter "0". Use a minus sign to enter a negative amount. Allison Manufacturing Cash Budget For the Quarter Ended March 31 January February 400,000 $ 50,000 Beginning balance Cash receipts 8,200,000 Cash available 8,600,000 Less Disbursements: Purchases $5,830,000 Direct labor 2,052,000 Overhead Selling & admin Total Tentative ending balance $ Borrowed/repaid Interest paid Ending balance 50,000 $ Valvula Ur Fixed-Cost Component ($) Variable-Cost Component ($) Supplies 1.00 Power 0.50 Maintenance 30,000 Supervision 16,000 Depreciation 200,000 Taxes 12,000 Other 80,000 0.50 e. Monthly selling and administrative expenses are also estimated using a flexible budgeting formula. (Note: Activity is measured in units sold.) Fixed Variable Costs ($) Costs (5) Salaries 50,000 Commissions 2.00 Depreciation 40,000 Shipping 1.00 Other 20,000 0.60 F. The unit selling price of the subassembly is $205. 9. All sales and purchases are for cash. The cash balance on January 1 equals $400,000. The firm requires a minimum ending balance of $50,000. If the firm g. All sales and purchases are for cash. The cash balance on January 1 equals $400,000. The firm requires a minimum ending balance of $50,000. If the firm develops a cash shortage by the end of the month, sufficient cash is borrowed to cover the shortage. Any cash borrowed is repaid at the end of the quarter, as is the interest due (cash borrowed at the end of the quarter is repaid at the end of the following quarter). The interest rate is 12% per annum. No money is owed at the beginning of January Required: 1. Prepare a monthly operating budget for the first quarter with the following schedule. (Note: Assume that there is no change in work-in-process inventories.) a. Schedule 1: Sales Budget. Do not include a multiplication symbol as part of your answer. Allison Manufacturing Sales Budget For the Quarter Ended March 31 January February March Units Selling price $ Sales 300.000 12,300,000 30,750,000 OW Conect 5. Schedule 2 Production budget. Allison Manufacturing Production Budget For the Quarter Ended March 31 January February Sales 50.000 ,00 Desired ending inventory 48.000 Accounting numer fald Total needs 10000 Less: Beginning inventory Units to be produced 60,000 Correct c. Schedule 3: Direct Materials Purchases Budget. Do not include a multiplication symbol as part of your answer Allison Manufacturing Direct Materials Purchases Budget For the Quarter Ended March 31 February February Metal Components March Metal January Metal January Components Total Metal Total Componen Components Units to C. Schedule 3: Direct Materials Purchases Budget. Do not include a multiplication symbol as part of your answer. Allison Manufacturing Direct Materials Purchases Budget For the Quarter Ended March 31 January February January Metal February Metal March Metal Components Components cmponents March Total Metal Components Units to 48.000 $8,000 60,000 60,000 166,000 165,000 produced Direct materials per unit Production needs Desired ending Inventory 348,000 0,000 1,400,000 290. ISO 720.000 63.000 SOR. 8.00 1. 240,000 144,000 174,000 300,000 10,000 240.000 Beginning Inventory Dec materials to be 530.000 316,000 354,000 600.000 364,800 1,728.000 .00 purchased Costet 8 1.770.000 4.864.000 5 .34.000 13.34,000 $ S16,000 d. Schedule 4: Direct Labor Budget. If required, round amounts to the nearest cent. Do not include a multiplication symbol as part of your answer. Allison Manufacturing Direct Labor Budget For the Quarter Ended March 31 January February 48,000 $8,000 March 60,000 166,000 3 Units to be produced Direct labor time per unit (hours) Total hours needed Cost per hour 144,000 174,000 180,000 498,000 14.25 14.25 $ 14.25 1425 Total cost 2,052,000 $ 2,479,500 2,565,000 $ 7,096,500 Check My Work Correct e Schedule 5: Overhead Budget. If required, round amounts to the nearest cent. Do not include a multiplication symbol as part of your answer. Allison Manufacturing Overhead Budget For the Quarter Ended March 31 January February 14. 74.000 March Restretan rart where hire Variable overhead rate $ 2.40 2.00 Budgeted variable overhead S 345,600 417,600 $ 2.000 1.195.2007 Budgeted fixed overhead 338,000 338,000 338,000 1,014,000 Total overhead 63.600 $ 755.600 770.000 $ 2,209,200 Feedback Check My Work Correct f. Schedule 6: Selling and Administrative Expenses Budget. If required, round amounts to the nearest cent. Do not include a multiplication symbol as part of your answer. Allison Manufacturing Selling and Administrative Expenses Budget For the Quarter Ended March 31 January February Planned sales Variable selling and administrative expenses per unit 144,000 N0 v Total variable expense Fored selling and administrative expenses: Sales 50 100 Salaries 50,000 50,000 .000 1 .000 Depreciation Other 20,000 Total fixed expenses 110,000 110,000 110,000 $ 380,000 Total selling and administrative expenses 254.000 $ 290,000 $ 325,000 $ 870,000 Tour dy Work Correct Schedule 7: Ending Finished Goods Inventory Budget. If required, round amounts to the nearest cent. Allison Manufacturing Ending Finished Goods Inventory Budget For the Quarter Ended March 31 Unit cost computation: Direct materials: Components Direct labor red g. Schedule 7: Ending Finished Goods Inventory Budget. If required, round amounts to the nearest cent. Allison Manufacturing Ending Finished Goods Inventory Budget For the Quarter Ended March 31 Unit cost computation: Direct materials: Metal Components Direct labor Overhead: Variable Fixed Total unit cost Finished goods inventory Feedback T rock My Work Partially correct h. Schedule 8: Cost of Goods Sold Budget. h. Schedule 8: Cost of Goods Sold Budget. Allison Manufacturing Cost of Goods Sold Budget For the Quarter Ended March 31 Direct materials Metal Components Direct labor used Overhead Budgeted manufacturing costs Add: Beginning finished goods Cost of goods available for sale Less: Ending finished goods Budgeted cost of goods sold Check My Work Incorrect 1. Schedule 9: Budgeted Income Statement. Use a minus sign to indicate a negative amount. Allison Manufacturing Budgeted Income Statement For the Quarter Ended March 31 $ 30,750,000 Sales Less: Cost of goods sold Gross margin Less: Selling and administrative expenses 870,000 Income before taxes Feedback Check My Work Partially correct j. Schedule 10: Cash Budget. If an amount is zero, enter "0". Use a minus sign to enter a negative amount. Allison Manufacturing Cash Budget For the Quarter Ended March 31 January February 400,000 $ 50,000 March Total Beginning balance 8.200.000 j. Schedule 10: Cash Budget. If an amount is zero, enter "0". Use a minus sign to enter a negative amount. Allison Manufacturing Cash Budget For the Quarter Ended March 31 January February 400,000 $ 50,000 Beginning balance Cash receipts 8,200,000 Cash available 8,600,000 Less Disbursements: Purchases $5,830,000 Direct labor 2,052,000 Overhead Selling & admin Total Tentative ending balance $ Borrowed/repaid Interest paid Ending balance 50,000 $