i need week 2 done using the information in the attachment provided. week 1 answers are also attached for your use. i need to done by 10:30pm.

Pangea Corporation Pangea manufactures sunglasses with various fashion frame options. Their sunglasses generally sell for $10-$15 per pair. The frames are created in-house (molded), with the lenses and screws purchased from other companies. As the cost accountant for their Delaware plant, you are responsible for budgeting, rate setting and investment analysis. Sometimes the plant management's plans and the requirements from corporate do not align. In "real life", you would discuss any differences with plant management and corporate to reach an agreement. For this project, use the data included below, as well as your best judgement and document any decisions you make as well as Week 1 Assignment 1) Create an annual expense (operating) budget for Pangea's Delaware plant for 2016. Use the budget methodologies in the Use the table (blue) and data provided below to create your budgets. Document any methodology, calculations or decisions. ( 2) Write a few bullet points or a short summary explaining your process, any difficulties, and how any decisions were reache Extra Credit 1) Prepare an annual financial (cash) budget for Pangea's Delaware plant for 2016. Use the budget methodologies in the tex Required Submit 1 Excel file for this project. The excel file should include the 2016 Operating budget with all backup calculations. If Extra Credit is submitted, include the 2016 Cash budget in the same Excel file (different tab is fine, if preferred). Summary of the process, difficulties, etc can be either included in a text box or Excel files (like this data). Your file should be formatted for printing, so that if the file is printed, no data is cut off. (Portrait or Landscape are both accepta Data for Operating Budget Sales Purchased Raw Materials 2014 Full Year 2015 August YTD 7,600,000 5,500,000 3,040,000 2,200,000 Expense Category Salaries and Wages Fringe Benefits Travel & Entertainment Outside Contractors Manufacturing Supplies Parts and Tools Utilities Depreciation Warehousing Costs Total Operating Expenses 775,000 372,000 30,000 140,000 250,000 60,000 300,000 150,000 80,000 2,157,000 533,000 262,000 22,000 80,000 160,000 40,000 220,000 110,000 50,000 1,477,000 Sales and Advertising Exp 450,000 300,000 1,953,000 1,523,000 608,000 440,000 Income from Operations Volume Data for Operating Budget Pangea anticipates 5% increase in demand from the Delaware plant for 2016 (vs 2015). Sales are higher in the warmer portion of the year, so April-Sept sales are usually double Oct-Mar sales. Salaries and Wages includes 10 full time employees. Salaries will increase 3% for the same headcount (annual raises). Fringe Benefits are expected to be 50% of Salaries and Wages in 2016. 2015 Outside Contractors includes 3 consultants used regularly. The plant wants to hire an additional outside contractor to help maintain the equipment. Manufacturing Supplies, Utilites and Warehousing Costs are generally volume-related. The plant is working on some efficiency improvements; these would reduce volume-dependant costs by approximately 3% for Sales expenses are expected to be consistent based on volume The plant is also interested in adding a new mixing tank to assist with the extra volume: cost would be $65,000 with estimated Pangea hopes to finish paying off the loan on the Delaware plant in 2016. As of August 2015, there is $1,200,000 remaining on Pangea plans to pay off $400,000 in Sep-Dec 2015 and the remaining $800,000 in 2016. Interest is paid monthly. The loan doe For simplicity sake, ignore income taxes. Additional Data for Cash Budget Collections from customers are one month lagging, on average. Payments for raw materials and operating expenses are also one month lagging, on average. Materials are purchased evenly th The plant is also interested in adding a new mixing tank to assist with the extra volume: cost would be $65,000 with estimated If possible, the plant would prefer to pay cash for the new tank; if not, financing is available at 5% interest over 5 years (not com Minimum Cash Balance Desired is 1 month of Raw Material Purchases plus $100,000. Pangea hopes to finish paying off the loan on the Delaware plant in 2016. As of August 2015, there is $1,200,000 remaining on Pangea plans to pay off $400,000 in Sep-Dec 2015 and the remaining $800,000 in 2016. Interest is paid monthly. The loan doe Employees Plant Manager Engineer Engineer Scheduler Senior Operator Senior Operator Operator Operator Operator Operator 2015 Salary 124,000 93,000 93,000 71,500 87,000 87,000 61,000 61,000 61,000 61,000 r sunglasses generally sell for $10-$15 per pair. chased from other companies. udgeting, rate setting and investment analysis. porate do not align. nd corporate to reach an agreement. nt and document any decisions you make as well as any assumptions as well. lant for 2016. Use the budget methodologies in the text as well as the assumptions below. ument any methodology, calculations or decisions. (You may simply leave formulas in the cells for calculations.) any difficulties, and how any decisions were reached. t for 2016. Use the budget methodologies in the text as well as the assumptions below, Operating budget with all backup calculations. el file (different tab is fine, if preferred). ox or Excel files (like this data). ata is cut off. (Portrait or Landscape are both acceptable.) Data for Cash Budget Beginning Cash Balance Minimum Cash Balance desired Available Cash Balance 2014 Full Year 2015 August YTD 300,000 379,333 353,333 359,375 (53,333) 19,958 Cash receipts/disbursements Collections from Customers Payments for Raw Materials Payments for Operating Expenses Payments for Sales Expenses Purchase of new equipment Net Cash receipts/disbursements 7,500,000 (3,000,000) (2,150,000) (450,000) (150,000) 1,750,000 4,811,645 (2,068,958) (1,472,125) (300,000) 970,562 Excess/(def) cash before financing 1,696,667 990,520 Borrowing (Beg of year) Repayments (End of year) Interest Net Cash Inc/(Decr) from Financing (1,200,000) (117,334) (1,317,334) (800,000) (58,667) (858,667) 379,333 131,853 Ending Cash Balance 16 (vs 2015). usually double Oct-Mar sales. he equipment. me-related. e volume-dependant costs by approximately 3% for the 2nd half of 2016. extra volume: cost would be $65,000 with estimated life of 10 years. As of August 2015, there is $1,200,000 remaining on the 4% loan. 0,000 in 2016. Interest is paid monthly. The loan does not compound interest, gging, on average. Materials are purchased evenly throughout the year. extra volume: cost would be $65,000 with estimated life of 10 years. ncing is available at 5% interest over 5 years (not compounding) As of August 2015, there is $1,200,000 remaining on the 4% loan. 0,000 in 2016. Interest is paid monthly. The loan does not compound interest