Master Budget Data:

BASE DATA:

Foundation Data for Solving questions 1, 2 and 3:

Budgeted Direct Materials Cost Per UNIT $15.00

Budgeted Direct Manufacturing Labor Per UNIT $10.00

Budgeted Manufacturing Overhead Per UNIT $5.00

IN ADDITION TO ABOVE USE THE FOLLOWING:

This is Next Year's Budgeted Data for XYZ

Budgeted Sales Price Per UNIT $20.00

Budgeted Sales - UNITS 19,121 Units

Target Ending Finished Goods Inventory in UNITS 6,621 Units

Target Beginning Finished Goods Inventory in UNITS 5,971 Units

Target Ending Direct Materials Inventory in UNITS 12,621 Units

Target Beginning Direct Materials Inventory in UNITS 10,621 Units

Note:It takes one unit of direct materials to make one production unit.

WITH THE ABOVE DATA SOLVE THE FOLLOWING QUESTIONS REGARDING YOUR PRODUCT:

1) How many units should be produced next year?

2) What is the dollar amount budgeted for direct material purchased for next year?

3) What is the Budgeted Revenues for next year.

USE ONLY THE FOLLOWING INFORMATION TO ANSWER THIS QUESTION.DO NOT USE ANY INFORMATION FROM ABOVE.

Gamble Company has the following sales budget for the last six months:

January $18,241 April $15,741

February $20,241 May $23,241

March $12,241 June $10,741

Historically, the cash collection of sales has been as follows:

The % of sales collected in the month of sale is 50%

The % of sales collected in the month following the sale is 30%

The % of sales collected in the second month following the sale is 15%

The % of sales that are uncollectible 5%

4) What are the budgeted Cash collections for the month of May?

Record your answer, using excel formulas,here

Check the order of your formula calculations

For example, if cell a1 is 15 and cell b1 is 4 and cell c1 is 2. You want to add cells a1 and b1 and then divide that sum by cell c1 If your excel formula isa1+b1/c1then your calculation result is 16.333 If your excel formula is(a1+b1)/c1then your calculation result is9.5

The result 9.5 would be the correct answer.

please show me the explanation with formula and excel formula.