I have to create a Sales Budet, Production Budget, Direct Materials Budget, and Direct Labor Budget following the same outline as the attached images. How would I create these budgets with the same assumptions as the photos, except Sales has been changed to 20,000; 40,000; 50,000; and 30,000. Also, on the Balance Sheet, Raw materials inventory units is 22,500 and Finished Goods Inventory is 3,000. Thanks in advance!
Chapter 8 Hampton Freeze, Inc. HIBIT 8-3 Balance Sheet ton Freeze: The Beginning December 31, 2013 ce Sheet Assets 42.500 Current assets. 6 90,000 7 Cash Accounts receivable pounds) 4.200 9 Raw materials inventory (21,000 26 000 0 Finished goods inventory (2,000 cases) 162,700 11 Total current assets lant and equipment 80,000 12 3 Land 700.000 14 Buildings and equipment 292,000 Accumulated depreciation 488.000 16 Plant and equipment, net $650,700 Total assets 17 18 Liabilities and Stockholders' Equity 19 Current liabilities 25,800 21 Accounts payable 22 Stockholders' equity 175,000 23 Common stock 449,900 Retained earnings 24 624 900 25 Total stockholders' equity $650,700 26 Total liabilities and stockholders' equity 27 nning Balance Sheet Budgeting Assu In the months that followed, Larry worked closely with all of the managers involved in the master budget, gathering data from them and making sure that they understood and fully supported the parts of the master budget that would affect them. The interdependent documents that Larry Giano prepared for Hampton Freeze a Schedules through 10 of the company's master budget. In this section, we will schedules as well as the beginning balance sheet and the budgeting assumptions included in his master budget to help answer the what-if he discussed with Tom Wills The Beginning Balance Sheet Exhibit 8-3 shows the first tab included in Larry's Microsoft Excel master bu It contains Hampton Freeze's beginning balance sheet as of December 31 included balance sheet in his master budget file so that he could link som to subsequent schedules. For example, as you'll eventually see, he used ce within Excel to link the beginning accounts receivable to the of expected cash collections. balance o ance of $42,500 He also used cell references to lin to cash bud Chapter 8 Hampton Freeze, Inc. HIBIT 8-3 Balance Sheet ton Freeze: The Beginning December 31, 2013 ce Sheet Assets 42.500 Current assets. 6 90,000 7 Cash Accounts receivable pounds) 4.200 9 Raw materials inventory (21,000 26 000 0 Finished goods inventory (2,000 cases) 162,700 11 Total current assets lant and equipment 80,000 12 3 Land 700.000 14 Buildings and equipment 292,000 Accumulated depreciation 488.000 16 Plant and equipment, net $650,700 Total assets 17 18 Liabilities and Stockholders' Equity 19 Current liabilities 25,800 21 Accounts payable 22 Stockholders' equity 175,000 23 Common stock 449,900 Retained earnings 24 624 900 25 Total stockholders' equity $650,700 26 Total liabilities and stockholders' equity 27 nning Balance Sheet Budgeting Assu In the months that followed, Larry worked closely with all of the managers involved in the master budget, gathering data from them and making sure that they understood and fully supported the parts of the master budget that would affect them. The interdependent documents that Larry Giano prepared for Hampton Freeze a Schedules through 10 of the company's master budget. In this section, we will schedules as well as the beginning balance sheet and the budgeting assumptions included in his master budget to help answer the what-if he discussed with Tom Wills The Beginning Balance Sheet Exhibit 8-3 shows the first tab included in Larry's Microsoft Excel master bu It contains Hampton Freeze's beginning balance sheet as of December 31 included balance sheet in his master budget file so that he could link som to subsequent schedules. For example, as you'll eventually see, he used ce within Excel to link the beginning accounts receivable to the of expected cash collections. balance o ance of $42,500 He also used cell references to lin to cash bud
