need quick and serious help with 19 and 20. thank you greatly for your time and assistance.
Required: 20 1. Prepare a cost of goods manufactured statement for the quarter. MANSBRIDGE Inc 2 01:37:43 Cost of Goods Manufactured Statement For the Quarter Ending December 31, 2019 Direct materials: Direct materials available for use Direct materials used Overhead Total manufacturing costs Total work-in-process Cost of goods manufactured Mc Graw HillThe accounting department at Mansbridge Inc. prepared the following income statement for the quarter ending December 31, 2019. 20 Sales $1, 472, 100 Purchases of materials (1) 256, 090 Payroll (2) 270, 300 Advertising 38, 900 1 01:38:25 Administrative travel 29, 500 Manufacturing utilities 53, 200 Facility rental (3) 93, 000 Depreciation (4) 67, 300 Sales commissions 60, 900 Annual Manufacturing insurance (5) 59, 000 Office utilities 24, 300 Management salaries (6) 407, 000 Net income $ 113, 510 Notes: (1) 80% of the materials were direct (2) 70% direct labour; 30% indirect labour (3) 90% related to manufacturing (4) 70% related to manufacturing (5) This is a statement for the quarter. (6) 30% related to manufacturing The department also compiled the following information with respect to inventories for the quarter (note that the company does not maintain inventories of indirect materials) Beginning Ending Direct materials 5 7, 820 $ 9, 380 Work in process 9, 020 10, 640 Finished goods 12, 230 7, 990 Required: 1. Prepare a cost of goods manufactured statement for the quarter. MANSBRIDGE Inc Mc Graw HillBudgeted sales (units) 8, 609 10, 608 12, 686 11, 600 19 The selling price of the company's product is $26 per unit. Management expects to collect 65% of sales in the quarter in which the sales are made and 30% in the following quarter; 5% of sales are expected to be uncollectible. The beginning balance of accounts receivable, all of which are expected to be collected in the first quarter, is $96,500. The company expects to start the first quarter with 2,300 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 15' of the next quarter's budgeted sales. The desired ending finished goods inventory for the fourth quarter is 2,550 units Required: 1-a. Prepare the company's sales budget. Matoika Manufacturing Sales Budget ist Quater 2nd Quarter and Quarter 4th Quarter Total sales 223,600 275,600 - 327 ,600 301,600 - 4 1 128400 1-b. Prepare the schedule of expected cash collections. Matoika Manufacturing Schedule of Expected Cash Collections ist Quarter and Quarter 3and Counter 4th Quarter Year Accounts receivable, beginning balance 86,500 ist Quarter sales End Quarter sides 3rd Quarter sales 4th Quarter sales Total cash collections 86,500 0 9 2. Prepare the company's production budget for the upcoming fiscal year. Maoika Manufacturing Production Budget 1st Quarter 2nd Quarter Ard Quarter 4th Quarter Total unis needed
