I need help with the budgeting project below, it is 3 different questions.

Panther Graduation Supplies Company makes diploma covers one style, but in Regular and Deluxe. The Regular covers are made of faux leather and the Deluxe covers are made of genuine leather. Panther Graduation Supplies Company is preparing its budget for December 2015 and has estimated sales based on past experience. The following is information for the month of December 2015: Input Prices Direct Materials Faux leather $5.25/yard Genuine leather $7.50/yard Satin lining $1.50/yard Direct Manufacturing Labor $15/direct manufacturing labor-hour Input Quantities per Unit of Output (per diploma cover) Regular- - Deluxe Direct materials Faux leather 1.3 yards 0 Genuine leather 0 1.5 yards Satin lining 1 yard 1 yard Direct Manufacturing labor-hours (DLH) 2 hours 3 hours Setup-hours per batch 1 hours 2 hours Inventory Information (Direct Materials) Faux Leather Genuine Leather Satin Lining Beginning inventory 600 yards 300 yards 500 yards Target ending inventory 300 yards 400 yards 250 yards Cost of beginning inventory $3,150 $6,000 $750 Panther Graduation Supplies Company accounts for Direct Materials using FIFO cost flow assumption. Sales and Inventory Information (Finished Goods) Regular Deluxe Expected sales in units (diploma covers) 2,000 3,000 Selling price $60 $100 Target ending inventory (units) 300 600 Beginning inventory (units) 250 650Beginning inventory (dollars) $ 10,757 $ 41,697 Panther Graduation Supplies Company uses FIFO cost flow assumption.\\ for finished goods inventory. Diploma covers are made in batches of 50 units. Panther incurs manufacturing overhead costs, marketing and general administrative, and shipping costs. Besides materials and labor, manufacturing costs include setup, processing, and inspection costs. Panther ships 40 diploma covers per shipment. Panther uses activity-based costing and has classified all overhead costs for the month of December as follows: Cost Type Denominator Activity Rate Manufacturing Setup Setup (hours) $10/setup (hour) Processing Direct manufacturing labor hours (DLH) $1.50/DLH Inspection Number of diploma covers $1.50/cover Non-Manufacturing Marketing and General Administration Sales revenue 10% Shipping Number of shipments $15/shipment Required: 1. Prepare each of the following for December 2015: a. Revenues budget b. Production budget in units c. Direct material usage budget and direct material purchases budget in both units and dollars; round to dollars d. Direct manufacturing labor cost budget e. Manufacturing overhead cost budgets for setup, processing, and inspection activities f. Budgeted unit cost of ending finished goods inventory and ending inventories budget g. Cost of goods sold budget h. Marketing and general administration and shipping costs budget2. Panther'sbalance sheet for November 30, 2015 is as follows: Panther Graduation Supplies Company Balance Sheet November 30, 2015 Assets _ ' - - Cash $ 9,435 Accounts Receivable $ 324,000 " Less: Allowance for uncollectable MAE! 307,800 Inventories: ' ' _ _ Direct Materials 9,990 Finished Goods " ' ' 52,454 Fixed Assets $ 870,000 Less: Accumulated depreciation l 133 , Total Assets W Liabilities and Owners1 Equity - _ Accounts Payable $ 15,600 Taxes Payable 10,800 Interest Payable " ' r - M50 Long-Tenn Debt 150,000 Common Stock 300,000 Retained Earnings 636,194 Total Liabilities and Owners' Equity ' i 1.! 1% Use the balance sheet and the following information to prepare a cash budget for Panther for December 2015: (Round to dollars) ' All sales are on account; 60% are collected in the month of the sale, 38% are collected the following month, and 2% are never collected and written off as bad debts. ' All purchases of materials are on account. Panther pays for 80% of purchases in the month of purchase and 20% in the following month. I All other costs are paid in the month incurred, including the declaration and payment of a $15,000 cash dividend in December 2015. ' Panther is making monthly interest payments of 0.5% (6% per year) on a $150,000 long- tenn loan. ' Panther plans to pay the $10,800 of taxes owed as of November 30 in the month of December. Income tax expense for December is zero. I 30% of processing, setup, and inspection costs and 10% of marketing and general administration and shipping costs are depreciation. 3. Prepare a budgeted income statement for December and a budgeted balance sheet for Panther as ofDecemberBl, 2015 -... Revenues Budget For Month of December, 2015 Units Selling Price Total Revenues Regular $ Deluxe Total $ :1 Production Budget For the Month of December, 2015 Product Regular Deluxe Budgeted unit sales Add: target ending finished goods inventory Total required units Deduct: beginning finished goods inventory Units of finished goods to be producedDirect Materials Usage Budget in Quntity and Dollars For the Month of December, 2015 Material Units Faux Leather Genuine Leather Satin Lining Total Physical Units Budget Direct Materials Required for: Regular Deluxe Total quantity of direct materials to be used Cost Budget Available from beginning direct materials inventory (under a FIFO cost-flow assumption) To be purchased this period Direct Materials to be used this period $ $ $ $Direct Materials Purchases Budget For the Month of December, 2015 Material Units Faux Leather Genuine Leather Satin Lining Total Physical Units Budget To be used in production - Add: Target ending direct material inventory Total requirements - - _ I Deduet: beginning direct material inventory I Purchases to be made ' ' ' Cost Budget : Direct Materials to be used this period $ - $ - $ - $ - Regular Deluxe Total Direct Manufacturing Labor Costs Budget Output Units Produced For the Month of December 2015 Direct Manufacturing Total Hourly Wage Labor-Hours per Unit Hours Rate Manufacturing Overhead Costs Budget For the Month of December 2015 Regular Deluxe Total Machine Setup $ Processing Inspection Total $Unit Costs of Ending Finished Goods Inventory For the Month of December, 2015 Regular Deluxe Cost per Input per Total Input per Total Unit of Input Unit of Output Unit of Output Faux Leather $ $ Genuine Leather Satin Lining Direct manufacturing labor Machine setup Processing Inspection Total $ . Ending Inventories Budget December, 2015 Quanity Cost/unit Total Direct Materials Faux Leather $ Genuine Leather - Satin Lining S Finished Goods Regular Deluxe Total ending inventory S