Kraft is a Wholesale distributor of artisan cheese and ice cream.The following information is available for April 2017. The beginning cash balance is $400,000.

Required: Prepare the following for April 2017 - Be sure to read the additional information below

a.Sales budget

b.Purchase Budget

c.Cash Budget

d.Budgeted Income Statement.

Estimated Sales

Cheese 160,000 hoops at $10 each

Ice Cream 240,000 gallons at $5 each

Estimated Costs

Cheese $8.00 per hoop

Ice Cream $2.00 per gallon

Desired inventories

Beginning Ending

Cheese 10,000 12,000

Ice Cream 4,000 5,000

Additional info:

Beginning cash balance is $400,000

Purchases of merchandise are paid 60% in the current month and 40% in the following month.Purchases totaled $1,800,000 in March and are estimated to be $2,000,000 in May.

Employee wages and salaries are paid for in the current month.Employee Expenses for April totaled $156,000.

Overhead expenses are paid in the next month.The accounts payable amount for these expenses from March is $80,000 and for May will be $90,000.April's overhead expenses total $80,000.

Sales are on credit and are collected 70% in the current period and the remainder in the next period.March's sales were $3,000,000 and May's sales are estimated to be $3,200,000.Bad debts average 1% of sales. (Allowance for Bad Debts - non-cash )

Selling and administrative expenses are paid monthly and total $450,000, including $40,000 of depreciation.

All unit costs for April are the same as they were in March.