page1(pg1,) to page 9(pg.9) and also I am unable to get the figures into table

TOPIC; BUDGETING

questions

pg1.

Wilson Inc. manufactures basketballs for $20/unit.Wilson Inc. budgets on a quarterly basis and the sales department has budgeted for the following sales:

Budgeted Sales Units:

Q1 Q2 Q3 Q4

10,000 11,000 12,000 14,000

The Basketball's selling price is $35 each.

Please prepare the Sales Budget.

Sales Budget

For the year ended December 31, 2020

Quarter 1 Quarter2 Quarter 3 Quarter 4

Expected Sales (units)

Selling Price (/unit)

Total Budgeted Sales

Pg2.

Wilson Inc. does not collect all of the sales revenue in the period of sale.The accounts receivable department has budgeted for 85% of sales revenue to be collected in the period of sale and 15% to be collected in the next period.The accounts receivable beginning balance is $80,000.

Please prepare the Schedule of Expected Cash Collections.

Schedule of Expected Cash Collections

Quarter 1 Quarter 2 Quarter 3 Quarter 4

Accounts Receivable, beginning balance 80,000

First quarter sales

Second quarter sales

Third quarter sales

Fourth quarter sales

Total cash collections

pg3,

Wilson Inc. has spoken with the Production Department and determined that it would like to have a desired ending finished goods inventory of 20% of next periods sales.The assumed beginning inventory of finished goods for Q1 and the desired ending inventory of Q4 is provided.

Please prepare the Production Budget.

Production Budget

For the Year Ended December 31, 2019

Quarter 1 Quarter 2 Quarter 3 Quarter 4

Budgeted Sales

Add:Desired ending inventory of finished goods 3,000

Total needs

Deduct:Beginning inventory of finished goods 2,000

Required Production

pg4.

The Production Department is ready to budget for Direct Material Purchases.The Direct Materials needed are 15kg/unit and the cost of the raw materials is $1.50/kg.Production would like to have 10% of next quarters production needs as the desired ending inventory of raw materials.The assumed Q1 beginning inventory of raw materials and the ending inventory for Q4 is provided.

Please prepare the Direct Materials Budget

Direct Materials Budget

For the Year Ended December 31, 2019

Quarter 1 Quarter 2 Quarter 3 Quarter 4

Required Production in Cases

Production needs

Add: Desired ending inventory of raw materials 22,500

Total needs

Deduct:Beginning inventory of raw materials 21,000

Raw materials to be purchased

Cost of raw materials to be purchased

pg5.

The Accounts Payable Department has advised Wilson Inc. that they expect to pay for Direct Materials 50% in the period of purchase and 50% in the next period.Accounts Payable beginning balance is provided.

Please prepare the Schedule of Expected Cash Disbursements for Materials.

Schedule of Expected Cash Disbursements for Materials

Quarter 1 Quarter 2 Quarter 3 Quarter 4

Accounts Payable, beginning balance $25,800

First quarter purchases

Second quarter purchases

Third quarter purchases

Fourth quarter purchases

Total cash disbursements

pg6.

The Human Resources Department has indicated that the Direct Labor Cost per hour is $7.50 and the Production Department has indicated that the # of Direct Labor Hours per unit is 0.90.

Please prepare the Direct Labor Budget:

Direct Labor Budget

For the Year Ended December 31, 2019

Q1 Q2 Q3 Q4

Required Production in cases

Total direct labor hours needed

Total direct labor cost

pg7.

Wilson Inc. has determined that the Variable Overhead Rate per Direct labor hour is $1.75 and the fixed manufacturing overhead is $6,200 per quarter and depreciation is $1,500.

Please prepare the Manufacturing Overhead Budget

Manufacturing Overhead Budget

Q1 Q2 Q3 Q4

Budgeted direct labor hours

Variable overhead rate $1.75 $1.75 $1.75 $1.75

Variable manufacturing overhead

Fixed manufacturing overhead

Total manufacturing overhead

Less:Depreciation

Cash disbursement for manufacturing overhead

Pg8.

Wilson Inc. budgeted for fixed selling and administrative expenses below.The variable selling and administrative rate based on budgeted units is $11/hour.

Please prepare the Selling and Administrative Expense Budget.

Fixed selling and administrative expenses based on units sold:

Advertising $3,000

Executive Salaries 850

Q2 Insurance 100

Q3 Insurance 2,000

Q4 Property taxes 4,300

Depreciation 10,000

Selling and Administrative Expense Budget

Q1 Q2 Q3 Q4

Budgeted Sales

Variable selling & admins expense $11 $11 $11 $11

Total budgeted variable selling & administrative expense

Budgeted fixed selling & admin. expenses:

Advertising

Executive Salaries

Insurance

Property taxes

Depreciation

Total budgeted fixed selling & admin. expense

Total budgeted selling & admin. expenses

Less:Depreciation

Cash disbursements for selling & administrative expenses

Pg9.

The beginning cash balance has been provided and equipment purchases and dividends has been provided.

Please prepare the cash budget.

Cash Budget

For the Year Ended December 31, 2019

Q1 Q2 Q3 Q4

Cash balance, beginning $42,500

Add Receipts:

Collection from customers

Total Cash available before current financing

Deduct disbursements

Direct materials

Direct labor

Manufacturing overhead

Selling and administrative

Equipment purchases 60,000 50,000 10,000 20,000

Dividends 500 500 500 500

Total Disbursements

Excess (deficiency) of cash available over disbursements