In this part of the project, you will create a master budget for your product Specifically, you will need to Prepare a sales budget including a column for each year and a column for the total The budgets should also include a schedule of expected cash collection, by year and in total Make your assumptions about the type of sales (cash versus credit) and your credit terms clear Make reasonable assumptions about the safety stock and prepare the production budgets for each of the upcoming five years You may need to estimate unit sales for the 6 th year for this budget Prepare the direct material budgets for the upcoming five years The budgets should also include a schedule of expected cash disbursements for purchase of materials, by year and in total Make your assumptions about the safety stock of materials and the timing of payments clear Prepare a direct labor budget for each of the upcoming five years Prepare a manufacturing overhead budget for each of the upcoming five years Prepare a selling and administrative expense budget for each of the upcoming five years Prepare a cash budget for each of the upcoming five years This budget should include the cash receipts section, the cash disbursement section, the cash excess or deficiency section, and the financing section Make your assumptions about the financing policy clear Prepare a budgeted income statement for each of the upcoming five years that reflects the budgets you prepared earlier Prepare a budgeted balance sheet for each of the upcoming five years that reflects the budgets you prepared earlier Note All your budgets and schedules should have a column for each year and a column for the total Creating Excel worksheets similar to schedules 1 10 of Chapter 8 or the review problem budget schedules on pages 378 379 will be helpful Product is Cookies

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In this part of the project, you will create a master budget for your product. Specifically, you will need to: Prepare a sales budget including

In this part of the project, you will create a master budget for your product. Specifically, you will need to:

Prepare a sales budget including a column for each year and a column for the total. The budgets should also include a schedule of expected cash collection, by year and in total. Make your assumptions about the type of sales (cash versus credit) and your credit terms clear.
Make reasonable assumptions about the safety stock and prepare the production budgets for each of the upcoming five years. You may need to estimate unit sales for the 6^th year for this budget.
Prepare the direct material budgets for the upcoming five years. The budgets should also include a schedule of expected cash disbursements for purchase of materials, by year and in total. Make your assumptions about the safety stock of materials and the timing of payments clear.
Prepare a direct labor budget for each of the upcoming five years.
Prepare a manufacturing overhead budget for each of the upcoming five years.
Prepare a selling and administrative expense budget for each of the upcoming five years.
Prepare a cash budget for each of the upcoming five years. This budget should include the cash receipts section, the cash disbursement section, the cash excess or deficiency section, and the financing section. Make your assumptions about the financing policy clear.
Prepare a budgeted income statement for each of the upcoming five years that reflects the budgets you prepared earlier.
Prepare a budgeted balance sheet for each of the upcoming five years that reflects the budgets you prepared earlier.

Note: All your budgets and schedules should have a column for each year and a column for the total. Creating Excel worksheets similar to schedules 1-10 of Chapter 8 or the review problem: budget schedules on pages 378-379 will be helpful.

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