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i want this four Selling and Administrative expenses Salaries $70,000 per month Advertising $20,000 per month Insurance $ 1,500 per month Office Depreciation $ 3,500
i want this four
Selling and Administrative expenses Salaries $70,000 per month Advertising $20,000 per month Insurance $ 1,500 per month Office Depreciation $ 3,500 per month Other fixed costs $ 4,000 per month Selling and administrative overhead are paid in the month incurred. Financing The cash balance on December 31, 2021, totaled $200,800, but management has decided it would like to maintain a cash balance of at least $500,000 beginning on January 31, 2022 The company has an open line of credit with the National Bank. The terms of the agreement require borrowing to be in the increments of $10,000, and the interest rate is 5.5%. Al Khabeesi borrows on the first day of the month and repays on the last day of the month if possible. Purchases The company has decided to upgrade it's IT equipment in April 2022. The expected cost of this upgrade is $450,000. Depreciation on this equipment is expected to be at the rate of 30% on a straight-line basis. Additional information Balance in the retained earnings account are $60,000 on January 2022. There are no expected withdrawals. Income tax is expected to be levied at the rate of 10%p.a. Instructions 1. This group project requires the use of EXCEL spreadsheets to prepare various budgets for a manufacturing company. 2. The class is asked to form groups of not more than 4 students and allocate the task among them equitably. 3. All the members of the group must contribute to the effort and share the overall task, equitably. 4. The group should PREPARE the following documents for the quarters of 2022 by using a MS EXCEL spreadsheet: (e) Manufacturing Overhead Budget (f) Selling and Administration Budget (g) A Cash Budget. (h) A balance sheet budget Step by Step Solution
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