need help with number 10 thank you!

1) For Zigby's sales, complete the following: a) Complete the table below to determine the net sales amount for the special order. ZIGBY MANUFACTURING Special Order Number of Units (equals May's units from connect) 21,600 Sales Price per unit (from connect) $25 Gross Sales Revenue (multiply) $540,000 Less Discount (3% of Gross Sales Revenue) $16,200 Net Sales for Special Order $523,800 b) Complete the Revised Sales Budget below by including the "Net Sales for Special Order" in the table below. ZIGBY MANUFACTURING Sales Budget April, May, and June 2019 Original Budgeted Net Sales for Special Sales Dollars Order Revised Net Sales April 2019 520,000 520,000 May 2019 540,000 523,800 1,063,800 June 2019 522,500 522,500 Totals for the 2nd quarter 1,582,500 2, 106,300 ZIGBY MANUFACTURING Change to smooth Production Budget April, May, and June 2019 April May June Total Budgeted ending inventory (calculate for 25,280 16,720 16,640 April, row 3 of connect for May and June Budgeted units sales for month 20,800 43,200 20,900 Required units of available production 46,080 59,920 37,540 Beginning inventory (units) 16,640 25,280 16,720 Units to be produced during the month 29,440 34,640 20,820 84,900ZIGBY MANUFACTURING Revised Raw Materials Budget April May June Total Production budget (units) 21,440 21,040 20,820 Materials requirements per unit 0.50 0.50 (unchanged from connect) 0.50 Materials needed for production 10,720 10,520 10,410 Budgeted ending inventory 3,156 3,123 4,200 Total materials requirements (units) 13,876 13,643 14,610 Beginning inventory 5,360 3,156 3,123 Materials to be purchased 8,516 10,487 11,487 30,490 Material price per unit $20.00 $20.00 $20.00 $20.00 Raw Material purchases before $170,320.00 $209,740.00 $229,740.00 $609,800.00 Discount Discount (5% of purchases exceeding 10,000 lbs) $487 $1,487.00 $1,974.00 Budgeted raw material purchases $170,320.00 $209,253.00 $228,253.00 $607,826.00 4) To maintain moral among their employees, Zigby has agreed to pay employees a wage premium of $3 an hour for excess overtime. Excess overtime has been defined as any hours in excess of 13,000 hours in a month. The Direct Labor Budget will need to be updated for the changes to the production budget and the wage premium added for each month. This table is completed similarly to the budget table in connect. ZIGBY MANUFACTURING Revised Direct Labor Budget April May June Total Budgeted production (units) 29,440 36,640 20,820 84,900 Labor requirements per unit (hours) .50 .50 .50 0.50 Total labor hours needed 14,720 17,320 10,410 42,450 Direct labor rate (per hour) $17 $17 $17 $17 Base direct labor cost 250,240 294,440 176,970 721,650 Wage premium (3xhours over 13,000) 5,160 12,960 18,120 Total Budgeted direct labor costs 255,400 307,400 176,970 739,7705) Factory Overhead Budget will need to be updated for the production and labor requirement changes. This table is completed similarly to the budget table in connect. ZIGBY MANUFACTURING Revised Factory Overhead Budget April May June Total Labor hours needed 14,720 17,320 10,410 42,450 Variable factory overhead rate 13,000 13,000 13,000 39,000 Budgeted variable overhead 1,720 4,320 2,590 3,450 Budgeted fixed overhead $3 $3 $3 Budgeted total overhead 5,160 12,960 18,120 ZIGBY MANUFACTURING Revised Cash Receipts from Customers April May June Current month's cash sales (from connect) 528,000.00 540,000.00 522,500.00 Current month's credit sales collected (20% of current months credit sales) 156,000.00 162,00.00 156,750.00 Previous month's credit sales collected (80% of previous months sales) 72,800.00 75,600.00 73,150.00 Special order collected in June 291,200.00 302,400.00 Total cash receipts 748,800.00 1,068,800 1,054,800.00ZIGBY MANUFACTURING Estimated Payments for Raw Material Purchases April May June June 30 Accounts Payable March 31 Accounts Payable 169,040 42,260 April purchases 136,256 34,064 May Purchases 167,402 41,851 June Purchases 228,253 Total cash payments 169,040 178,516 201,466 ZIGBY MANUFACTURING Revised Cash Budget April May June Beginning cash balance 42,000 59,790 87,020 Cash receipts from customers 520,000 526,000 534,750 Total cash available 562,000 585,790 621,770 Cash payments for: Raw materials 211,300 212,400 209,300 Direct labor 182,240 178,840 176,970 Variable overhead 32,160 31,560 31,230 Sales commissions 41,600 43,200 41,800 Sales salaries 3,200 3,200 3,200 General & administrative salaries 14,000 14,000 14,000 Dividends 12,000 Loan interest 140 Long-term note interest 3,570 3,570 3,570 Purchases of equipment 132,000 Total cash payments 488,210 498,770 612,070 Preliminary cash balance 73,790 87,020 9,700 Additional loan (loan repayment) (14,000) 32,300 Ending cash balance 59,700 87,020 42,000 Revised Loan balance: ST note payable April May June Loan balance - Beginning of month 14,000 0 0 Additional loan (loan repayment) (14,000) 32,300 Loan balance - End of month 0 0 32,300ZIGBY MANUFACTURING Weighted Average Cost per Raw Material unit Costs: March 31 Raw Material Balance (connect) 107,200 Raw Material purchases (total from 3 net of discount) 607,826 Total Costs available for use in production (a) $715,026 Units: Units in 3/31 Raw Material inventory (connect) 5,360 Units purchased during quarter (from 3) 30,490 Total units available for production (b) 35,850 Weighted-Average Cost per unit (a)/(b) show 2 decimals $19.94 b) Use the weighted average cost per unit to calculate the June 30 raw material inventory balance and the cost of direct material used in production. Use the notes below the table for assistance ZIGBY MANUFACTURING Raw Material Inventory Allocation of Costs Inventory at Used in Total 6/30 Production Accounted for Units 4,200 10,410 14,610 Weighted-average cost per unit $19.94 $19.94 $19.94 Allocated costs $83,748 $207,575.40 $291,323.4010) Connect gives a "total product cost" per unit that is used to calculate the ending inventory value and cost of goods sold. This per unit cost includes fixed overhead costs assuming the quarter's original production and sales levels. This average will change because of the one-time sale. Zigby Manufacturing uses weighted average costing for its inventory. Because Zigby does not have any Work-In-Process inventory, we can assume that all production costs flow to finished goods and then to cost of goods sold. a) Follow the directions below the table to calculate the revised weighted average cost per unit. ZIGBY MANUFACTURING Weighted Average Cost per Finished Goods Inventory Costs: March 31 Finished Goods Inventory (connect) 349,440 Raw Material used in production (calculated in 9) 715,026 Budgeted Direct Labor costs (calculated in 4 including wage premium) 739,770 Budgeted Overhead Costs (calculated in 5.Both variable and fixed) 18,120 Total Costs of Finished Goods available for use sale (a) Units: Units in 3/31 Finished Goods Inventory (connect) Units produced during quarter (from 2) Total units available for sale (b) Weighted-Average Cost per unit (a)/(b) show 2 decimals b) Use the weighted average cost per unit to allocate costs between 6/30 finished goods inventory and COGS. ZIGBY MANUFACTURING Finished Goods Inventory Allocation of Costs FG Inventory at Sold Total 6/30 Accounted for Units Weighted-average cost per unit Allocated costsZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2019 Assets Cash $ 42,000 Accounts receivable 364,000 Raw materials inventory 107,200 Finished goods inventory 349,440 Total current assets 862,640 Equipment 604,000 Accumulated depreciation (152,000) Equipment, net 452,000 Total assets $1,314,540 Liabilities and Equity Accounts payable $ 211,300 Shortterm notes payable 14,000 Total current liabilities 225,300 Longterm note payable 510,000 Total liabilities 735,300 Common stock 337,000 Retained earnings 242,340 Total stockholders' equity 579,340 Total liabilities and equity $1,314,640 a. Sales for March total 20,800 units. Forecasted sales in units are as follows: April, 20,800; May, 21,600; June, 20,900; and July, 20,800. Sales of 242,000 units are forecasted for the entire year. The \"'5 selling price is $25.00 per unit and its total cost is $21.00 per unit. b. Company policy calls for a given month's ending raw materials inventory to equal 50% of the next month's materials requirements. The March 31 raw materials inventory is 5,360 units, which complies with the policy. The expected June 30 ending raw materials inventory is 4,200 units. Raw materials cost $20 per unit. Each nished unit requires 0.50 units of raw materials. c. Company policy calls for a given month's ending nished goods inventory to equal 80% of the next month's expected unit sales. The March 31 finished goods inventory is 16,640 units, which complies with the policy. (I. Each finished unit requires 0.50 hours of direct labor at a rate of $17 per hour. 9. Overhead is allocated based on direct labor hours. The predetermined variable overhead rate is $3.00 per direct labor hour. Depreciation of $21,100 per month is treated as fixed factory overhead. f. Sales representatives' commissions are 8% of sales and are paid in the month of the sales. The sales manager's monthly salary is $3,200. 9. Monthly general and administrative expenses include $14,000 administrative salaries and 0.7% monthly interest on the long-term note payable. h. The company expects 30% of sales to be for cash and the remaining 70% on credit. Receivables are collected in full in the month following the sale (none are collected in the month of the sale). i. All raw materials purchases are on credit, and no payables arise from any other transactions. One month's raw materials purchases are fully paid in the next month. i. The minimum ending cash balance for all months is $42,000. If necessary, the company borrows enough cash using a shortterm note to reach the minimum. Shortterm notes require an interest payment of 1% at each monthend (before any repayment). If the ending cash balance exceeds the minimum, the excess will be applied to repaying the short-term notes payable balance. k. Dividends of $12,000 are to be declared and paid in May. . No cash payments for income taxes are to be made during the second calendar quarter. Income tax will be assessed at 40% in the quarter and paid in the third calendar quarter. n1. Equipment purchases of $132,000 are budgeted for the last day of June