I need answers to the following questions for my study guide -

Question 1 -

The following information is available for the Garris Co.

Budgeted Sales

December (Actual): $50,000

January: $25,000

February: $60,000

March: $75,000

April: $60,000

Budgeted Expenses

Wages and Salaries: $8,000

Freight-out: 6% of Sales

Advertising: $4,500

Depreciation: $2,500

Other Expenses: 1% of Sales

Other Data

Minimum Inventory % of Next Month's COGS: 30%

Ending Inventory for December: $10,000

Sales Mix:

Cash: 20%

Credit: 80%

Note: Credit sells collected in the following month.

Gross Profit: 40%

Inventory Paid:

Current Month: 50%

Month After Purchase: 50%

December Accounts Payable: $15,000

December Cash Balance: $8,000

Minimum Cash Balance: $10,000

Complete the Master Budget.

Question 2 -

Which supporting schedule of the master budget is the most difficult to prepare?