I need help with Direct Materials Budget and Direct Labor Budget

Bloomfield is an ice cream company, who makes homestyle ice creams using fresh and all-natural ingredients and sells to retail stores. In preparing the budget for the coming year, 2024, they forecasted the following expected sales and gathered the costs data from managers in various areas of the company. Sales - Forecasted to sell 25,000 units in the 1st Quarter of 2024, and an additional 2,000 units each quarter. - The 2,000 additional units per quarter are expected to continue through the end of 2nd quarter of 2025. - The 20234th quarter sales were 24,000 units. - Selling price for one unit of ice cream is $15. - Bloomfield maintains 15% of the next quarter's unit sales in ending inventory. - All sales to retail stores are on account, with collections of 75% made in the quarter of sales and 25% collected in the quarter after sale. - Accounts receivable on December 31, 2023 is $72,000. Direct Materials - Direct materials cost $3 per pound. 1.5 pounds of direct materials are required to produce each unit. - Bloomfield maintains 6% of the materials needed for the next quarter in its ending material inventory. - Raw Materials on December 31, 2023 were 2,250 pounds. - Payment for materials are made 50% in the quarter of purchase, and 50% in the quarter after purchase. - Accounts Payable balance on December 31, 2023 was $56,250. Direct Labor Variable selling and administrative cost are budgeted per sales unit: - Shipping expense $.75 per sales unit - Packaging expense $.50 per sales unit Fixed selling and administrative costs are budgeted for the month, listed below: - Advertising $2,000 a month - Insurance $700a month - Office Salaries $4,000 a month - Depreciation $800 a month Other Information - The Cash balance at the end of 2023 , is $80,750, and Bloomfield would like to maintain a cash balance of at least $200,000 at the end of each quarter. - All Direct Labor, Manufacturing Overhead and Selling \& Administrative costs are paid in the quarter incurred. - Bloomfield has an open line of credit with the bank, and can borrow in any quarter they don't meet the minimum cash balance of $55,000. - Borrowed funds accrue 3% interest for the quarter and are paid in the first quarter cash is available along with interest. - Bloomfield collects interest of $3,000 from a note receivable each quarter. - Bloomfield plans to purchase a $50,000 equipment in cash in Quarter 3. - Bloomfield pays an estimated income tax at $5,000 each quarter. \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{7}{|c|}{ Bloomfield Company } \\ \hline \multicolumn{7}{|c|}{ Soles Budget } \\ \hline & Quarter 1 & Quarter 2 & Quarter 3 & Quarter 4 & Year \\ \hline Budgeted sales units & 25,000 & 27,000 & 29,000 & 31,000 & 112,000 \\ \hline Selling price per unit & $15 & $15 & $15 & $15 & $15 \\ \hline Budgeted sales revenue & $375,000 & $405,000 & $435,000 & $465,000 & $1,680,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{7}{|c|}{ Ploomfield Company } \\ \hline \multicolumn{7}{|c|}{ For the Four Quarters } \\ \hline \multicolumn{7}{|c|}{ Quarter 1 } & Quarter 2 & Quarter 3 & Quarter 4 & Year \\ \hline \begin{tabular}{c} Unit Sales \\ \hline \begin{tabular}{c} Add: Desired ending inventory unit \\ s \end{tabular} \end{tabular} & 25,000 & 27,000 & 29,000 & 31,000 & 112,000 \\ \hline Total units needed & 3,400 & 5,800 & 6,200 & 6,600 & 6,600 \\ \hline Less: Beginning inventory units & 5,000 & 5,400 & 5,800 & 6,200 & 5,000 \\ \hline Budgeted units of production & 25,400 & 27,400 & 29,400 & 31,400 & 113,600 \\ \hline \end{tabular} Bloomfield is an ice cream company, who makes homestyle ice creams using fresh and all-natural ingredients and sells to retail stores. In preparing the budget for the coming year, 2024, they forecasted the following expected sales and gathered the costs data from managers in various areas of the company. Sales - Forecasted to sell 25,000 units in the 1st Quarter of 2024, and an additional 2,000 units each quarter. - The 2,000 additional units per quarter are expected to continue through the end of 2nd quarter of 2025. - The 20234th quarter sales were 24,000 units. - Selling price for one unit of ice cream is $15. - Bloomfield maintains 15% of the next quarter's unit sales in ending inventory. - All sales to retail stores are on account, with collections of 75% made in the quarter of sales and 25% collected in the quarter after sale. - Accounts receivable on December 31, 2023 is $72,000. Direct Materials - Direct materials cost $3 per pound. 1.5 pounds of direct materials are required to produce each unit. - Bloomfield maintains 6% of the materials needed for the next quarter in its ending material inventory. - Raw Materials on December 31, 2023 were 2,250 pounds. - Payment for materials are made 50% in the quarter of purchase, and 50% in the quarter after purchase. - Accounts Payable balance on December 31, 2023 was $56,250. Direct Labor Variable selling and administrative cost are budgeted per sales unit: - Shipping expense $.75 per sales unit - Packaging expense $.50 per sales unit Fixed selling and administrative costs are budgeted for the month, listed below: - Advertising $2,000 a month - Insurance $700a month - Office Salaries $4,000 a month - Depreciation $800 a month Other Information - The Cash balance at the end of 2023 , is $80,750, and Bloomfield would like to maintain a cash balance of at least $200,000 at the end of each quarter. - All Direct Labor, Manufacturing Overhead and Selling \& Administrative costs are paid in the quarter incurred. - Bloomfield has an open line of credit with the bank, and can borrow in any quarter they don't meet the minimum cash balance of $55,000. - Borrowed funds accrue 3% interest for the quarter and are paid in the first quarter cash is available along with interest. - Bloomfield collects interest of $3,000 from a note receivable each quarter. - Bloomfield plans to purchase a $50,000 equipment in cash in Quarter 3. - Bloomfield pays an estimated income tax at $5,000 each quarter. \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{7}{|c|}{ Bloomfield Company } \\ \hline \multicolumn{7}{|c|}{ Soles Budget } \\ \hline & Quarter 1 & Quarter 2 & Quarter 3 & Quarter 4 & Year \\ \hline Budgeted sales units & 25,000 & 27,000 & 29,000 & 31,000 & 112,000 \\ \hline Selling price per unit & $15 & $15 & $15 & $15 & $15 \\ \hline Budgeted sales revenue & $375,000 & $405,000 & $435,000 & $465,000 & $1,680,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{7}{|c|}{ Ploomfield Company } \\ \hline \multicolumn{7}{|c|}{ For the Four Quarters } \\ \hline \multicolumn{7}{|c|}{ Quarter 1 } & Quarter 2 & Quarter 3 & Quarter 4 & Year \\ \hline \begin{tabular}{c} Unit Sales \\ \hline \begin{tabular}{c} Add: Desired ending inventory unit \\ s \end{tabular} \end{tabular} & 25,000 & 27,000 & 29,000 & 31,000 & 112,000 \\ \hline Total units needed & 3,400 & 5,800 & 6,200 & 6,600 & 6,600 \\ \hline Less: Beginning inventory units & 5,000 & 5,400 & 5,800 & 6,200 & 5,000 \\ \hline Budgeted units of production & 25,400 & 27,400 & 29,400 & 31,400 & 113,600 \\ \hline \end{tabular}