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*need the requirement part asap* Assumptions: You are starting your business next month, so currently you have no beginning inventory of finished goods or raw

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*need the requirement part asap*

Assumptions: You are starting your business next month, so currently you have no beginning inventory of finished goods or raw materials. Also, there is no beginning balance for accounts payable or accounts receivable. Since the business is very small and home-based, there is no direct labor cost for your business. Labor wage (if any) is assumed to be fixed and part of MOH. All the manufacturing costs you incur for your business falls under any one of the two categories: direct material (DM) or MOH. (Remember indirect material part of MOH) To calculate the DM cost for your product, find out a simple recipe for the product you are planning to sell. You MUST NOT visit any physical store to collect any data. All information must be collected from the internet. If you can't find any information you need on the internet, make reasonable guesses. For each of your direct material fill out the following table. Make more copies of the table if necessary. You need to have a separate table for each direct material. Now, we will make some estimations about the number of units of product your business expects to sell over the next 12 months. Fill out the following table about sales estimates. Month Estimated Units of Product Sold October November December January February March April May June July August September . Assume all sales will be 75% on cash and 25% on credit. you will collect your credit in the month following the month of sale. . Since you are going to sell a food item, no ending inventory of finished goods will be maintained. Each unit will be manufactured after an order is received. All purchases for all direct materials are made 60% in cash and 40% on credit to be paid equally over two months next to month of sales. You want to draw a dividend of BDT 20,000 every month as the sole owner of your business. [This your dividend, you will not use this money for operating your business.) At the end of each month you want to have at least BDT 30,000 cash available for operating your business. You will start the business with a cash investment of BDT 500,000. You can borrow up to BDT 200,000 from your best friend to invest in your business. You will repay the borrowed amount, if you have cash available in excess of your minimum cash requirement. Requirements: Based on the assumptions you have formed above, prepare a Master Budget consisting of the following components in the Google Sheet attached to this assignment. 1. Sales Budget [No schedule of cash collection will be needed as all sales are on cash.] 2. Direct Material Budget(s) [Make a separate budget for each direct material. No schedule of cash disbursements for direct material will be necessary as all purchases will be made in cash.] 3. MOH Budget 4. Sn'A Expense Budget 5. Cash Budget Note: You will not need any production budget since units sold = units produced every month. Thus, the sales estimates you have formed above will also be used as the number of units produced in the Master Budget. Your budget must be prepared as demonstrated in class. First input your assumptions in the Google Sheet, and then prepare a fully linked Master Budget making use of cell referencing and automated formulas for calculations

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