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1) For Gundy Company, units to be produced are 5,520 in quarter 1 and 6,500 in quarter 2. It takes 1.5 hours to make a finished unit, and the expected hourly wage rate is $15 per hour. Prepare a direct labor budget by quarters for the 6 months ending June 30, 2017.

2) North Company has completed all of its operating budgets. The sales budget for the year shows 50,900 units and total sales of $2,301,800. The total unit cost of making one unit of sales is $23. Selling and administrative expenses are expected to be $303,800. Interest is estimated to be $10,000. Income taxes are estimated to be $200,800. Prepare a budgeted multiple-step income statement for the year ending December 31, 2017.

3) Batista Company management wants to maintain a minimum monthly cash balance of $19,300. At the beginning of April, the cash balance is $22,500, expected cash receipts for April are $246,000, and cash disbursements are expected to be $257,900. How much cash, if any, must be borrowed to maintain the desired minimum monthly balance?

GUNDY COMPANY Direct Labor Budget June 30, 2017 For the Quarter Ending June 30, 2017 For the Six Months Ending June 30, 2017 5,520 2 Six Months Units to be produced 6,500 2 Direct Labor Cost Per Hour 1.5 T 1.5 Total Required Direct Labor Hours | 9750 Total Direct Labor Cost 1 124,200 146,250 270,450 GUNDY COMPANY Direct Labor Budget Quarter Six Months T Units to be Produced 5,520 6,500 Direct Labor Cost Per Hour 1.5LT 1.5 Total Required Direct Labor Hours 8280 9750 1515 15 - 124,200 46,250 L 270,450 Desired Ending Inventory Total Materials Required Direct Labor Time Per Unit Units to be produced Direct Materials Purchases Direct Materials Per Unit Direct Labor Cost Per Hour Total Cost of Direct Materials Purchases Total Direct Labor Cost Total Pounds Required for Production Total Required Direct Labor Hours Beginning Materials Inventory Cost Per Pound will learn while you earn points based on the Point Potential Policy set by your Question Attempts: 1 of 2 used SAVE FOR LATER SUBMIT ANSWER NORTH COMPANY Budgeted Income Statement For the Year Ending December 31, 2017 , Sales 2,301,800 Cost of Goods Sold 1,170,700 Gross Profit 1,131,100 Selling and Administrative Expenses 303,800 Income Before Income Taxes Interest Expense 10,000 Income Before Income Taxes Income Tax Expense Net Income / (Loss)