K L M AB The Master Budget Comprehensive summary problem F Birdfeeders Unlimited makes backyard birdfeeders. The company sells the birdfeeders to home improvement stores. $15 Sales price per birdfeeder 15 Board feet of wood required for each birdfeeder 7 10 11 12 13 14 $4 Cost per board foot (actual) 10% Desired ending wood inventory stated as a percentage of next month's production requirements 20% Desired ending finished goods inventory (finished birdfeeders) stated as a percentage of next month's sales $550,000 Total cost of direct materials purchases in December 45% of direct materials purchases are paid in the month of purchase 55% of direct materials purchases are paid in the month after purchase 15 Sales data for the company can be found on the "SALESDATA" tab. 16 17 Use the blue shaded areas on the ENTERA SWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from 18 the Instruction tab you will be marked wrong 19 20 Requirements 21 22 23 23 24 25 22 26 27 28 29 1 Prepare the sales budget, including a separate section that details the type of sales made (cash versus credit) for the first three months of the year, as well as a summary budget for the quarter. 2 Prepare the production budget for the first three months of the year, as well as a summary budget for the quarter. a Enter all amounts as positive values. Do NOT use parentheses or a minus sign for amounts to be subtracted. Prepare the direct materials purchases budget for the first three months of the year, as well as a summary budget for the quarter. Assume the company needs 120,000 board feet of wood for production in April a. Enter all amounts as positive values. Do NOT use parentheses or a minus sign for amounts to be subtracted b. Abbreviation used: DM-Direct materials 4 Prepare the cash collections budget for January, February, and March, as well as a summary for the first quarter. 5 Prepare the cash payments budget for direct materials purchases for the months of January, February, and March, as well as a summary for the first quarter. 30 Saving & Submitting Solution 31 1 Save file to desktop. 32 a Create folder on desktop, and label COMPLETED EXCEL PROJECTS 33 2 Upload and submit your file to be graded. 34 a Navigate back to the activity window-screen where you downloaded the initial spreadsheet 35 b. Click Choose button under step 3; locate the file you just saved and click Open 36 c. Click Upload button under step 3 37 d. Click Submit button under step 4 38 39 40 Viewing Results 41 1 Click on Results tab in MyAccountinglab 42 2 Click on the Assignment you were working on 43 3 Click on Project link; this will bring up your Score Card 4 Within Score Card window, click on Live Comments Report (lower right) to download spreadsheet with feedbac