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Okay Co., a new startup business, is preparing their budget for the first quarter 2022 ending March 31. Budgeted sales of the company's only
Okay Co., a new startup business, is preparing their budget for the first quarter 2022 ending March 31. Budgeted sales of the company's only product for the next five months are January February March April 8,800 units 6,100 units 8,200 units 5,400 units 6,200 units May The selling price is $57 per unit. Prepare the following elements of the master budget for this problem: (150 points) 1. Sales budget (a. with a schedule of expected cash collections). 2. 3. 4. 5. 6. Production budget. Direct materials budget (b. with a schedule of expected cash disbursements for materials). Direct labor budget Manufacturing-overhead budget. Ending finished goods inventory budget. 7. Selling and administrative expense budget. 8. Cash budget. 9. Budgeted income statement. 10. Budgeted balance sheet. (beginning and ending balance sheet) SCHEDULE OF EXPECTED CASH COLLECTIONS
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