I need to finish cost of good manufactured budget. Thank you

PURPOSE: The purpose of this assignment is for you to work with a team using Google Sheets to prepare a number of important budgets for a manufacturing business. Your first step is to access your team's "Group Home Page" in Canvas by clicking on the following menu items in Canvas: People Grilton Budgeting Teams The icon (3 vertical dots) to the right of your Team # Visit Group Home Page Discussions . In the Discussions" forum of your Group Home Page you will be able to listen to a podcast which gives you some further instructions and you'll have a link which takes you to your team's Google Sheet (spreadsheet). DATA: The Grilton Tire Company manufactures racing tires for bicycles. Grilton sells tires for $50 each. Grilton is planning for next year (2022) by developing a master budget by quarters. Grilton's balance sheet for December 31, 2021 follows: GRILTON TIRE COMPANY Balance Sheet December 31, 2021 Assets Current Assets: Cash Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets Property, plant and Equipment: $ 39,000 40,000 2,400 8.700 $ 90,100 Equipment Less: Accumulated Depreciation Total Assets 177,000 (42.000) 135.000 $225.100 Liabilities Current Liabilities: Accounts Payable $ 8,000 Stockholder's Equity $ 130,000 87.100 Common Stock, no par Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity 217.100 $225,100 Other data for Grilton Tire Company: a. Budgeted Sales are 1,500 for the first quarter and expected to increase by 200 tires per quarter. Cash Sales are expected to be 30% of total sales, with the remaining 70% of sales on account b. Finished Goods Inventory on December 31, 2021 consists of 300 tires at $29 each. c Desired ending Finished Goods Inventory is 40% of the next quarter's sales; first quarter sales for 2023 are expected to be 2,300 tires and second quarter sales for 2022 are expected to be 2,500. FIFO inventory costing method is used. d. Direct Materials cost is $8 per tire. e. Desired ending Raw Materials Inventory is 30% of the next quarter's direct materials needed for production f. Each tire requires 0.40 hours of direct labor; direct labor costs average $16 per hour. & Variable manufacturing overhead is $2 per tire produced. h. Fixed manufacturing overhead includes $4,500 per quarter in depreciation and $26,780 per quarter for other costs, such as utilities, insurance, and property taxes. 1. Fixed selling and administrative expenses include $8,000 per quarter for salaries: $1,800 per quarter for rent: $1,200 per quarter for insurance; and $500 per quarter for depreciation. 1. Variable selling and administrative expenses include supplies at 2% of sales. k. Capital expenditures include $45,000 for new manufacturing equipment, to be purchased and paid in the first quarter. 1. Cash receipts for sales on account are 60% in the quarter of sale and 40% in the quarter following the sale. The December 31, 2021 Accounts Receivable ($40,000) is received in the first quarter of 202.2 m. Direct materials purchases are paid 70% in the quarter purchased and 30% in the following quarter. The December 31, 2021 Accounts Payable ($8,000) is paid in the first quarter of 2022 n. Direct labor, manufacturing overhead, and selling and administrative costs are paid in the quarter incurred. o. Income tax expense is projected at $3,500 per quarter and is paid in the quarter incurred. p. Grilton desires to maintain a minimum cash balance of $35,000 and borrows from the local bank as needed in increments of $1,000 at the beginning of the quarter: principal repayments are made at the beginning of the quarter when excess funds are available and in increments of $1,000; interest is 6% per year and paid at the beginning of the quarter based on the amount outstanding from the previous quarter. Interest must be paid at the beginning of each quarter. REQUIREMENTS: 1. Prepare a sales budget in units and dollars for each quarter and in total for the year 2022. (5 pts.) 2. Prepare a schedule of expected cash collections for each quarter and in total for the year 2022. (10 pts.) 3. Prepare a production budget for each quarter and in total for the year 2022. (10 pts.) 4. Prepare a direct materials budget for each quarter and in total for the year 20221. (10 pts.) 5. Prepare a schedule of expected cash disbursements for purchases of materials for each quarter and in total of the year 2012. (10 pts.) 6. Prepare a budgeted Schedule of Cost of Goods Manufactured for the year of 2022. (5 pts.) 7. Prepare a budgeted Income Statement for the year of 2022 (10 pts.) 8. Prepare a cash budget for the year of 2022. (15 pts. 9. Group Participation (25 pts. I will award group participation points based on each student's discussion activity in their team's discussion forum, within the Google Spreadsheet, or in any other discussion environment. COST OF GOODS MANUFACTURED BUDGET Direct Materials Used: Dir.Mat. Inv. 1/1/2022 Purchases during 2022 Materials Available Less: Dir. Mat. Inv 12/31/2022 Cost of Direct Mat. Used Direct Labor Costs Manufacturing OH costs Total Manufacturing costs Add: Beg. WIP 1/1/2022 Subtotal Less: End WIP 12/31/2022 Cost of Goods Manufactured