need help on sales budget, manufacturing overhead budget, ending finished goods inventory, S & A expense budget, budgeted income statement, and budgeted balance sheet: Thumbs up right away and thank you

Endless Mountain Company manufactures a single product that is popular with outdoor recreation enthusiasts. The company sells its product to retailers throughout the northeastern quadrant of the United States. It is in the process of creating a master budget for 2022 and reports a balance sheet at December 31, 2021 as follows $ 349,700 Endless Mountain Company Balance Sheet December 31, 2001 Assets Current assets: Cash $ 46,200 Accounts receivable (net) 260,000 Raw materials inventory (4,500 yards) 11.250 Finished goods Inventory (1,500 units) 32,250 Total current assets plant and equipment Buildings and equipment 900.000 Accumulated depreciation 3921000) plant and equipment, net Total assets Liabilities and Stockholders' Equity Current Stabilities Accounts payable Stockholders' equity Common stock $ 419.500 Retained earnings 370.000 Total stockholders equity Total liabilities and stockholders' equity 600.000 $957.700 $ 150.000 289,700 5952,700 The company's chief financial officer (CFO), in consultation with various managers across the organization has developed the following set of assumptions to help create the 2022 budget 1. The budgeted unit sales are 12,000 units, 37000 units, 15,000 units, and 25,000 units for quarters 1-4, respectively. Notice that the company experiences peak sales in the second and fourth quarters. The budgeted selling price for the year is $32 per unit. The budgeted unit sales for the first quarter of 2023 is 13,000 units. 2. All sales are on credit. Uncollectible accounts are negligible and can be ignored. Seventy-five percent of all credit sales are collected in the quarter of the sale and 25% are collected in the subsequent quarter. 3. Each quarter's ending finished goods inventory should equal 15% of the next quarter's unit sales. 4. Each unit of finished goods requires 3.5 yards of raw material that costs $3.00 per yard. Each quarter's ending raw materials inventory should equal 10% of the next quarter's production needs. The estimated ending raw materials Inventory on December 31, 2022 is 5,000 yards 5 Seventy percent of each quarter's purchases are paid for in the quarter of purchase. The remaining 30% of each quarter's purchases are paid in the following quarter. 6. Direct laborers are paid $18 an hour and each unit of finished goods requires 0.25 direct labor-hours to complete All direct labor costs are paid in the quarter incurred. 7. The budgeted variable manufacturing overhead per direct labor-hour is $3.00. The quarterly fixed manufacturing overhead is $150,000 including 520.000 of depreciation on equipment. The number of direct labor-hours is used as the allocation base for the budgeted plantwide overhead rate. All overhead costs (excluding depreciation) are paid in the quarter incurred, 8. The budgeted variable selling and administrative expense is $1.25 per unit sold. The fixed selling and administrative expenses per quarter include advertising ($25,000), executive salaries ($64,000), insurance ($12,000), property tax 2. All sales are on credit. Uncollectible accounts are negligible and can be ignored. Seventy-five percent of all credit sales are collected in the quarter of the sale and 25% are collected in the subsequent quarter 3. Each quarter's ending finished goods inventory should equal 15% of the next quarter's unit sales. 4. Each unit of finished goods requires 3.5 yards of raw material that costs $3.00 per yard. Each quarter's ending raw materials inventory should equal 10% of the next quarter's production needs. The estimated ending raw materials inventory on December 31, 2022 is 5,000 yards. 5. Seventy percent of each quarter's purchases are paid for in the quarter of purchase. The remaining 30% of each quarter's purchases are paid in the following quarter 6 Direct laborers are paid $18 an hour and each unit of finished goods requires 0.25 direct labor-hours to complete. All direct labor costs are paid in the quarter incurred. 7. The budgeted variable manufacturing overhead per direct labor-hour is $3.00. The quarterly fixed manufacturing overhead is $150,000 including $20,000 of depreciation on equipment. The number of direct labor-hours is used as the allocation base for the budgeted plantwide overhead rate. All overhead costs (excluding depreciation) are paid in the quarter incurred. 8. The budgeted variable selling and administrative expense is $125 per unit sold. The fixed selling and administrative expenses per quarter include advertising ($25,000). executive salaries (564,000), insurance ($12,000). property tax (88.000), and depreciation expense (58.000), All selling and administrative expenses (excluding depreciation) are paid in the quarter incurred 9. The company plans to maintain a minimum cash balance at the end of each quarter of $30,000. Assume that any borrowings take place on the first day of the quarter. To the extent possible, the company will repay principal and interest on any borrowings on the last day of the fourth quarter. The company's lender imposes a simple interest rate of 3% per quarter on any borrowings 10. Dividends of $15,000 will be declared and paid in each quarter 11. The company uses a lastin, first-out (LIFO) Inventory flow assumption. This means that the most recently purchased raw materials are the first-out to production and the most recently completed finished goods are the "first-out" to customers Required: The company's CFO has asked you to prepare the 2022 master budget. To fulfill this request, prepare the following budget schedules and financial statements 1 Quarterly sales budget including a schedule of expected cash collections, 2. Quarterly production budget 3. Quarterly direct materials budget including a schedule of expected cash disbursements for purchases of materials 4 Quarterly direct labor budget 5 Quarterly manufacturing overhead budget. 6. Ending finished goods inventory budget at December 31, 2022 7 Quarterly selling and administrative expense budget B Quarterly cash budget 9. Income statement for the year ended December 31, 2022 10. Balance sheet at December 1, 2022 Endless Mountain Company Sales Budget For the Year Ended December 31, 2022 Quarter 2 3 es Budgeted unit sales Selling price per unit Sales 12.000 37.000 15.000 $ 32 s 32 s 32 s $ 384,000 $ 1.184,000 $ 480,000 Schedule of Expected Cash Collections Year 25,000 89,000 327 s 32 800.000 $ 2.848,000 Beginning accounts receivable First quarter sales Second-quarter sales Third-quarter sales Fourth-quarter sales Total cash collections S 0$ 0$ 05 05 0 Endless Mountain Company Manufacturing Overhead Budget For the Year Ended December 31, 2022 Quarter 1 2 Budgeted direct labor hours 4,013.0 8.4250 Variable manufacturing overhead per direct labor hour 5 3 $ 35 Variable manufacturing overhead $ 12,039 $ 25,275 $ Fixed manufacturing overhead 150.000 150.000 Total manufacturing overhead 162 039 175 275 Less depreciation 20.000 20.000 Cash disbursements for manufacturing overhead 142,039 155 275 Total manufacturing overhead Budgeted direct labor hours Predetermined overhead rate for the year 3 4.125 0 3$ 12 375 150.000 162.375 20.000 142.375 > 5,800.00 3$ 17.400 $ 150.000 167 400 20.000 147 400 S Year 22.363 0 3 67,089 600,000 667009 20.000 647 089 667008 22.3630 29.83 $ SE Ending Finished Goods Inventory Budget (absorption costing basis) For the Year Ended December 31, 2022 Quantity Cost Total Item Production cost per unit: Direct materials 10.50 $ 3.00 3.50 yards per yard per hour per 0.25 450 Direct labor $ 18.00 hours 0.25 hours $ 29.83 746 hour $ 22.46 Manufacturing overhead Unit product cost Budgeted finished goods inventory Units from prior year's production Unit product cost Cost from prior year's production Units from current year's production Unit product cost Cost from current year's production 1,500 $ 21.50 $ 32.250 89,000 2246 $ 1,998,940 Required information Selling and Administrative Expense Budget For the Year Ended December 31, 2022 Quarter 1 4 Year 12.000 37.000 15,000 25,000 09,000 $ 15,000.00 $ 46,250.00 $18.750 00 5 31 250 00 * $ 111 250 003 S 5 180 000 000 1711250.000 281 250.000 781 250 000 9.901 250 000 Budgeted unit sales Variable selling and administrative expense per unit Sales Fixed selling and administrative expenses Advertising Executive salaries Insurance Property taxes Depreciation Tatalfred selling and administrative expenses Total selling and administrative expenses Less depreciation 25,000 64000 12000 8000 8 000 117.000 180.117.000 8.000 25.000 64 000 12000 8.000 8.000 117.000 1.711 367.000 8000 25 000 64.000 12 000 0.000 0 000 117 000 201 367 000 B.000 25 000 64.000 12 000 0.000 8.000 117 000 781.367 000 8 000 100 000 256 000 48.000 32.000 32.000 460 000 9 901.718 000 32.000 OOOOO Endless Mountain Company Budgeted Income Statement For the Year Ended December 31, 2022 (Absorption costing basis) Sales $ 2,848,000 Cost of goods sold 1.998,724 Gross margin 849,276 Selling and administrative expenses 588,892 Net operating income 260,384 Selling and administrative expenses 60,000 X Net income $ 200,384 Endless Mountain Company Budgeted Balance Sheet December 31, 2022 Assets $ Current assets: Cash Accounts receivable Raw materials inventory Finished goods inventory 319,243 200,000 12,750 42,363 X $ 574,356 Total current assets Plant and equipment Buildings and equipment Accumulated depreciation 900,000 (404,000) Plant and equipment, net Total assets 496.000 $ 1,070,356 Accumulated depreciation (404,000) 496,000 $ 1,070,356 Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Stockholders' equity Common stock 419.800 Retained earnings 580,284 $ 70,272 1,000,084 Total stockholders' equity Total liabilities and stockholders' equity $ 1,070.356 Required