i only need the last 3 budgets
cost of goods sold
budgeted income statement
cash budget
THANK YOU!!
The Budget Director of Richardson Inc, in consultation with other members of executive management, has gathered the following data for use in developing a master budget for operations and a cash budget for December. Use the following data to set up, in good form, the following budgets for December for Richardson Inc.: Sales Budget Production Budget Direct Materials Purchases Budget Direct Labor Cost Budget Cost of Goods Sold Budget Budgeted Income Statement Cash Budget . . . Be sure each budget has a heading identifying the company name, the budget title, and the time period. 1 Estimated sale for December Product Units Sell Price per Unit 50.000 34 12.000 72 Estimated Inventorles, December 1 Material Pounds 4,000 2.500 Product Units 3.800 2,700 Cost per Unit 17 35 Cost of Work in Process 12/1$ 38,450 Estimated inventories, December 31 Material Pounds 1000 2.500 Product Units Cost per Unit 17 35 2000 Cost of Work In Process, 12/31 $ 39.010 Direct Materials used in production Material Pounds per Pounds per unit of Y unit of 0.7 1.21 3.5 18 Unit costs for direct materials cont per pound Material Direct labor requirements Product Deatment1 Department 2 Doors perurate per hour Hours per unit Rate per hour 4 19 OS 14 0:25 TE F2052 Factory overhead actual costs Estimated total $ 314,000 Operating expenses Estimated total $ 686,000 Estimated income tax rate 20% 8,200 80% 80% SON Cash estimates for December: Estimated cash balance, 12/15 Sales expected to be collected in cash in December Direct materials purchases expected to be paid in December Direct labor costsexpected to be paid in December Factory overhead costs expected to be paid in December Operating expenses expected to be paid in December Income taxes expected to be paid in December No other cash receipts or payments expected in December Desired cash balance, 127315 75% 3056 302.000 Estimated sales for December Product Units Sell Price per Unit 50.000 34 12.000 72 Inventorier, December 1 Material Pounds 4.000 3.500 Product Units 2.800 2,700 Cost per Unit 17 351 Cost of Work in Process 12/1$ 38.450 Estimated Inventories, December 31 Material Pounds 3.000 2.500 Product Units 2.500 2.000 Cost per Unit 17 25 Cost of Work in Process, 12/31 $ 39.010 Direct Materials used in production Pounds per Pounds per Material unit of Y unit of 2 0.7 1.2 3.5 1.8 Unit costs for direct materials Material Cost per pound Direct labor requirements Product Department 1 Department 2 Hoon perunate per hour Hours per unit Rate per hour 14 12 015 10 0.25 F20SLOZ Factory overhead actual costs Estimated total $ 314,000 Operating expenses Estimated total $ 686,600 Estimated income tax rate 20% 8,200 80% 80% 90% Cash estimates for December: Estimated cash balance, 12/1$ Sales expected to be collected in cash in December Direct materials purchases expected to be paid in December Direct labor costs expected to be paid in December Factory overhead costs expected to be paid in December Operating expenses expected to be paid in December Income taxes expected to be paid in December No other cash receipts or payments expected in December Desired cash balance. 12/31 $ 75% 70% 30% 102,000 The Budget Director of Richardson Inc., in consultation with other members of executive management, has gathered the following data for use in developing a master budget for operations and a cash budget for December. Use the following data to set up, in good form, the following budgets for December for Richardson Inc.: Sales Budget Production Budget Direct Materials Purchases Budget Direct Labor Cost Budget Cost of Goods Sold Budget Budgeted Income Statement Cash Budget Be sure each budget has a heading identifying the company name, the budget title, and the time period. Estimated sales for December Product Units Sell Price per Unit 50,000 34 12,000 72 24 Estimated inventories, December 1 Material A 1B Pounds 4,000 3,500 Product Cost per Unit Units 3,800 2,700 35 Cost of Work in Process 12/1$ 38,450 Estimated inventories, December 31 Material A Pounds 3,000 2.500 I Product Units 2.500 2.000 Cost per Unit 17 35 Cost of Work in Process, 12/315 39,010 Direct Materials used in production Material Pounds per Pounds per unit of Y unit of z OZ B B 8 unit of Y Material Junit of Z 0.7 1.2 3,5 1.8 Unit costs for direct materials Cost per pound Material A B 8 5 Direct labor requirements Product Department 1 Department 2 Hours per unit Rate per hour Hours perunit S Rate per hour 0.4 12 0.15 16 0.6 12 0.25 16 F20 Factory overhead actual costs Estimated total $ 314,000 Operating expenses Estimated total $ 686,000 Estimated income tax rate 20% 8. 200 80% 8096 906 Cash estimates for December: Estimated cash balance, 12/15 Sales expected to be collected in cash in December Direct materials purchases expected to be paid in December Direct labor costs expected to be paid in December Factory overhead costs expected to be paid in December Operating expenses expected to be paid in December Income taxes expected to be paid in December No other cash receipts on payments expected in December Desired cash balance. 12/315 75% 70416 3016 102.000
