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The company would also like to maintain an ending stock of finished birdfeeders equal to 10% of the next month's sales. Sales data for the company is as follows: Backyard Warehouse makes backyard birdfeeders. The company sells the birdfeeders to home improvement stores for $20 per birdfeeder. Each birdfeeder requires 3.0 board feet of wood, which the company obtains at a cost of $5 per board foot. The company would like to maintain an ending stock of wood equal to 20% of the next month's production requirements. E (Click th i More Info O (Click th Read the red In any given month, 15% of the total sales are cash sales, while the remainder are credit Requirement 1. Prepare the sales budget for the first three months of the year, as well as a summary budget for the quarter, includi sales. Backyard Warehouse The company's collection history indicates that 70% of credit sales is collected in the month after the sale, 20% is collected two months after the sale, 6% is collected three months after the sale, and the remaining 4% is never collected. Sales Budget For the Quarter Ended March 31 Assume that the total cost of direct materials purchases in December was $590,000. The company pays 55% of its direct materials purchases in the month of purchase, and pays the Month January February Quarter March remaining 45% in the month after nuchase Unit sales Print Done Multiply by: Sales price per unit Total sales revenue Data Table Cash sales Credit sales Total sales revenue Units Requirement 2. Prepare the production budget for the first three months of the year, as well as a summary budget for the quarter. October actual sales (prior year) 95,000 -...... Backyard Warehouse November actual sales (prior year) ...... 84,000 Production Budget December actual sales (prior year) 81,000 For the Quarter Ended March 31 January projected sales 78,000 Month February projected sales 92,000 January February March Quarter March projected sales 94,000 107,000 April projected sales Enter any number in the edit fields and then continue to the next question. Print Done Requirement 2. Prepare the production budget for the first three months af the year, as well as a summary budget for the quarter. Backyard Warehouse Production Budget For the Quarter Ended March 31 Month January February March Quarter Unit sales Plus: Desired ending inventory Tolal needed Less: Beginning inventory Units to produce Requirement 3. Prepare the direct materials purchases budget for the first three months of the vear, RS well as a summary budoet for the quarter. Assume the company needs 100,000 board feet of wood for production in April. (Round your answers to the nearest whole dollar.) Backvard Warehouse Direct Materials Budget For the Quarter Ended March 31 Month January February March Quarter Units to be produced Multiply by: Quantity (board feet) of DM needed per unit Quanlily (board feet) needed for production Plus: Desired ending inventory of DM Total quantity (bnard feet) neaded Less: Beginning inventory of DM Quantity (boerd feet) to purchase Multiply by: Cost per board foot Trtal cost of DM rurrhacne Enter any number in the edit fields and then continue to the next question. The company would also like to maintain an ending stuck of finished birdfeeders equal to 10% of the next month's esales. Sales data for the company is as folows: (Click the koon to view the selea data. Backyard Warehouse makes backyerd birdfeeders. The company sells the birdfeeders to home improvement siores for $20 per bircfeeder. Each birdfeeder requires 3.0 boerd feet of wood, which equal to 20% cf the next morihi s production requirements. the comparny oblains at a cost of $5 per board foot. The company would ike to maintain an ending stock of wood A Click the ioon to view Rodtional data) Read the reguirements Mutiply by: Cost per board foot Total oot of DM purcheses Requirement 4. Prepare the cash colections bucigel for January. February, and March, as well ae a summary for the first quarter. (Round your answers to the nearest whole dolar.) Raview the seles budget prepared in Requirement 1. Backyard Warahouse Cash Collections Budget For the Quarter Ended March 31 Month January February March Quarter Cash sales in current month Colections on cradit salas 70% of credit sales made one munth ago 20N of credt salea made two morths Ago 6% of credit sales made thnnee months ego Telal pash collections Requirement 5. Prepare the cash payments budget for direct materlals purchases for the manths af January, February, ard March, as wel as a summary for the firat quarter. Review the direct maleriale budge prepared in Requirement 3. Backyard Warehouse Cash Paymenta for Direct Materiala Budget For the Quarter Ended March 31 Month January February March Quarter 55% of cument month DM purchases 45% of last month'a DM purchases Total sash payments Enter any number in the edit fiekis and then continue to the next queetion. The company would also like to maintain an ending stock of finished birdfeeders equal to 10% of the next month's sales. Sales data for the company is as follows: Backyard Warehouse makes backyard birdfeeders. The company sells the birdfeeders to home improvement stores for $20 per birdfeeder. Each birdfeeder requires 3.0 board feet of wood, which the company obtains at a cost of $5 per board foot. The company would like to maintain an ending stock of wood equal to 20% of the next month's production requirements. E (Click th i More Info O (Click th Read the red In any given month, 15% of the total sales are cash sales, while the remainder are credit Requirement 1. Prepare the sales budget for the first three months of the year, as well as a summary budget for the quarter, includi sales. Backyard Warehouse The company's collection history indicates that 70% of credit sales is collected in the month after the sale, 20% is collected two months after the sale, 6% is collected three months after the sale, and the remaining 4% is never collected. Sales Budget For the Quarter Ended March 31 Assume that the total cost of direct materials purchases in December was $590,000. The company pays 55% of its direct materials purchases in the month of purchase, and pays the Month January February Quarter March remaining 45% in the month after nuchase Unit sales Print Done Multiply by: Sales price per unit Total sales revenue Data Table Cash sales Credit sales Total sales revenue Units Requirement 2. Prepare the production budget for the first three months of the year, as well as a summary budget for the quarter. October actual sales (prior year) 95,000 -...... Backyard Warehouse November actual sales (prior year) ...... 84,000 Production Budget December actual sales (prior year) 81,000 For the Quarter Ended March 31 January projected sales 78,000 Month February projected sales 92,000 January February March Quarter March projected sales 94,000 107,000 April projected sales Enter any number in the edit fields and then continue to the next question. Print Done Requirement 2. Prepare the production budget for the first three months af the year, as well as a summary budget for the quarter. Backyard Warehouse Production Budget For the Quarter Ended March 31 Month January February March Quarter Unit sales Plus: Desired ending inventory Tolal needed Less: Beginning inventory Units to produce Requirement 3. Prepare the direct materials purchases budget for the first three months of the vear, RS well as a summary budoet for the quarter. Assume the company needs 100,000 board feet of wood for production in April. (Round your answers to the nearest whole dollar.) Backvard Warehouse Direct Materials Budget For the Quarter Ended March 31 Month January February March Quarter Units to be produced Multiply by: Quantity (board feet) of DM needed per unit Quanlily (board feet) needed for production Plus: Desired ending inventory of DM Total quantity (bnard feet) neaded Less: Beginning inventory of DM Quantity (boerd feet) to purchase Multiply by: Cost per board foot Trtal cost of DM rurrhacne Enter any number in the edit fields and then continue to the next question. The company would also like to maintain an ending stuck of finished birdfeeders equal to 10% of the next month's esales. Sales data for the company is as folows: (Click the koon to view the selea data. Backyard Warehouse makes backyerd birdfeeders. The company sells the birdfeeders to home improvement siores for $20 per bircfeeder. Each birdfeeder requires 3.0 boerd feet of wood, which equal to 20% cf the next morihi s production requirements. the comparny oblains at a cost of $5 per board foot. The company would ike to maintain an ending stock of wood A Click the ioon to view Rodtional data) Read the reguirements Mutiply by: Cost per board foot Total oot of DM purcheses Requirement 4. Prepare the cash colections bucigel for January. February, and March, as well ae a summary for the first quarter. (Round your answers to the nearest whole dolar.) Raview the seles budget prepared in Requirement 1. Backyard Warahouse Cash Collections Budget For the Quarter Ended March 31 Month January February March Quarter Cash sales in current month Colections on cradit salas 70% of credit sales made one munth ago 20N of credt salea made two morths Ago 6% of credit sales made thnnee months ego Telal pash collections Requirement 5. Prepare the cash payments budget for direct materlals purchases for the manths af January, February, ard March, as wel as a summary for the firat quarter. Review the direct maleriale budge prepared in Requirement 3. Backyard Warehouse Cash Paymenta for Direct Materiala Budget For the Quarter Ended March 31 Month January February March Quarter 55% of cument month DM purchases 45% of last month'a DM purchases Total sash payments Enter any number in the edit fiekis and then continue to the next queetion