i need help figureing out the while master budget!

Question 1 of 1 22.22/100 Waterways Corporation is preparing its budget for the coming year, 2022. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in preparation of the budgeting process Sales 114.000 103.000 114.000 111.000 Unit sales for November 2021 Unit sales for December 2021 Expected unit sales for January 2022 Expected unit sales for February 2022 Expected unit sales for March 2022 Expected unit sales for April 2022 Expected unit sales for May 2022 Unit selling price 116,000 125.000 136.000 $12 Waterways likes to keep 10% of the next month's unit sales in ending inventory. All sales are on account 85% of the Accounts Receivable are collected in the month of sale, and 15% of the Accounts Receivable are collected in the menth after sale Accounts receivable on December 31, 2021. totaled $185.400 Direct Materials Direct materials cost 80 cents per pound. Two pounds of direct materials are required to produce each unit. Waterways likes to keep 5% of the materials needed for the next month in its ending inventory. Raw Materials on December 31 2021 totaled 11370 pounds. Payment for materials is made within 15 days. 50% is paid in the month of purchase, and 509 is paid in the month after purchase. Accounts Payable on December 31, 2021, totaled 5120.595 Direct Labor melation and is paidata rate of S9 per hour. Question 1 of 1 Manufacturing Overhead Indirect materials 300 Indirect labor SOC per labor hour Utilities 400 per labor hour per tabor hour per labor hour Maintenance 300 $41,000 per month Salaries Depreciation Property taxes $17.900 per month $2400 per month Insurance $1,300 per month Maintenance $1.200 per month Selling and Administrative Variable selling and administrative cost per unit is $170. Advertising $16,000 a month Insurance 51.300 a month Salaries $72.000 a month Depreciation 52.600 a month Other fixed costs 53.100 a month Other information Other Information The Cash balance on December 31, 2021, totaled $102,000, but management has decided it would like to maintain a cash balance of at least $700,000 beginning on January 31, 2022. Dividends are paid each month at the rate of $2.60 per share for 5.280 shares outstanding. The company has an open line of credit with Romney's Bank. The terms of the agreement requires borrowing to be in $1,000 increments at 9% interest. Waterways borrows on the first day of the month and repays on the last day of the month. A $490,000 equipment purchase is planned for February Your Answer Correct Answer Your answer is correct For the first quarter of 2022. prepare a sales budget. WATERWAYS CORPORATION Sales Budget For the First Quarter of 2022 First Quarter March January February 111000 116000 314000 Expected as S 12 12 $ nea 1332000 $ 1392000 1368000 Totes First Qui January February Units to be produced 113700 115.500 Direct Materials Per Unit 2 227400 Total Pounds Required for Production 223000 As Desired Ending Inventory Totsi Materiais Reguired > Beginning Materials inventory Direct Purchases 80 $ BO $ Cort Per Pound 5 Tectbook and Media Attempts of 3 used Submit An Seconds Question 1 of 1 22.22/100 Waterways Corporation is preparing its budget for the coming year, 2022. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in preparation of the budgeting process Sales 114.000 103.000 114.000 111.000 Unit sales for November 2021 Unit sales for December 2021 Expected unit sales for January 2022 Expected unit sales for February 2022 Expected unit sales for March 2022 Expected unit sales for April 2022 Expected unit sales for May 2022 Unit selling price 116,000 125.000 136.000 $12 Waterways likes to keep 10% of the next month's unit sales in ending inventory. All sales are on account 85% of the Accounts Receivable are collected in the month of sale, and 15% of the Accounts Receivable are collected in the menth after sale Accounts receivable on December 31, 2021. totaled $185.400 Direct Materials Direct materials cost 80 cents per pound. Two pounds of direct materials are required to produce each unit. Waterways likes to keep 5% of the materials needed for the next month in its ending inventory. Raw Materials on December 31 2021 totaled 11370 pounds. Payment for materials is made within 15 days. 50% is paid in the month of purchase, and 509 is paid in the month after purchase. Accounts Payable on December 31, 2021, totaled 5120.595 Direct Labor melation and is paidata rate of S9 per hour. Question 1 of 1 Manufacturing Overhead Indirect materials 300 Indirect labor SOC per labor hour Utilities 400 per labor hour per tabor hour per labor hour Maintenance 300 $41,000 per month Salaries Depreciation Property taxes $17.900 per month $2400 per month Insurance $1,300 per month Maintenance $1.200 per month Selling and Administrative Variable selling and administrative cost per unit is $170. Advertising $16,000 a month Insurance 51.300 a month Salaries $72.000 a month Depreciation 52.600 a month Other fixed costs 53.100 a month Other information Other Information The Cash balance on December 31, 2021, totaled $102,000, but management has decided it would like to maintain a cash balance of at least $700,000 beginning on January 31, 2022. Dividends are paid each month at the rate of $2.60 per share for 5.280 shares outstanding. The company has an open line of credit with Romney's Bank. The terms of the agreement requires borrowing to be in $1,000 increments at 9% interest. Waterways borrows on the first day of the month and repays on the last day of the month. A $490,000 equipment purchase is planned for February Your Answer Correct Answer Your answer is correct For the first quarter of 2022. prepare a sales budget. WATERWAYS CORPORATION Sales Budget For the First Quarter of 2022 First Quarter March January February 111000 116000 314000 Expected as S 12 12 $ nea 1332000 $ 1392000 1368000 Totes First Qui January February Units to be produced 113700 115.500 Direct Materials Per Unit 2 227400 Total Pounds Required for Production 223000 As Desired Ending Inventory Totsi Materiais Reguired > Beginning Materials inventory Direct Purchases 80 $ BO $ Cort Per Pound 5 Tectbook and Media Attempts of 3 used Submit An Seconds