Need help with all of it. Please also show the formulas used!
OPTIMA, INC. Regarding Inventory: Work-in-process has a zero beginning and ending balance. Direct Materials Inventory dollar amounts need to be rolled foward to get the ending balance: (Beginning + Purchased Used = Ending) Finished Goods Inventory dollar amounts need to be rolled forward to get the ending balance: (Beginning + Produced Sold = Ending) Optima Company Balance Sheet 12/31/2019 Assets \begin{tabular}{lrr} \hline Cash & $ & 250,000.00 \\ Finished goods invenotry & 650,000.00 \\ Direct materials inventory & 60,300.00 \\ Accounts receivable & 225,000.00 \\ Plant, Property, and equipment, net & 3,500,000.00 \\ \cline { 2 - 3 } Total assets & 4,685,300.00 \\ \cline { 3 - 3 } & \end{tabular} Liabilities and Stockholders' Equity Accounts Payable Capital Stock Retained earnings Total liabilities and stockholders equity \$5 90,000.003,000,000.001,595,300.004,685,300.000.00 Points Possible: 40 ( 5% of semester grade ) Due Sunday, 12/11/2022 by 11:55 pm (does not have to be submitted anywhere, simply stop modifying the templates before that time) Method of submission: to be completed using Google Docs; no submission is required other than completing the assignment within Optima Company Sales Budget for the year ending December 31,2020 Budgeted Sales (Units) Unit Price Total Sales Optima Company Production Budget for the year ending December 31, 2020 Qtr.1Qtr.2Qtr.3Qtr.4Total3Points Budgeted Sales (Units) Desired Ending Inventory (Units) Less: Beginning Inventory (Units) Budgeted Production (Units) Optima Company Direct Materials Purchases Budget for the year ending December 31, 2020 Budgeted Production (Units) Materials per unit Production needs Desired ending Inventory Less: Beginning Inventory Purchases Cost per unit Purchase cost Optima Company Direct Labor Budget for the year ending December 31,2020 Budgeted Production (Units) Hours per unit Hours needed Cost per hour Total Cost Optima Company Overhead Budget for the year ending December 31,2020 Budgeted hours \begin{tabular}{llll|l|l} Qtr. 1 & Qtr. 2 & Qtr. 3 & Qtr. 4 & Total & 2 Points \\ \hline \end{tabular} Variable Rate Budgeted VOH Budgeted FOH Total OH Optima Company Selling and Administrative Expenses Budget for the year ending December 31,2020 Budgeted Sales (Units) Variable Rate Variable expenses Fixed expenses Total expenses Optima Company Budgeted Cost Per Unit for the year ending December 31,2020 Budgeted Manufacturing Costs: Unit Cost Direct Materials Direct Labor Overhead: Variable Fixed Total Unit Costs Optima Company Cost of Goods Sold Budget for the year ending December 31, 2020 Budgeted Sales (Units) Budgeted Manufacturing Costs per unit Budgeted Cost of Goods Sold 5 Points Optima Company Income Statement for the year ending December 31, 2020 Sales Less: COGS Gross margin Less: S\&A Expenses Income before taxes Optima Company Retained Earnings Statement for the year ending December 31, 2020 Beginning Retained Earnings Add: Net Income(Loss) Deduct Dividends Ending Retained Earnings Optima Company Balance Sheet Decmeber 31, 2020 Assets Liabilities and Stockholders Equity 4 Points Cash Accounts Payable Accounts Receivable Line of Credit Payable Finished Goods Inventory Capital Stock Total Direct Materials Inventory Retained Earnings 40 Points Plant, Property, and Equipment Total Assets Total Liabilities \& Stockholders' E
