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Please Answer all of the questions with the information Given and place it in the A,B,C format so I can see the steps thank you!!!
Please Answer all of the questions with the information Given and place it in the A,B,C format so I can see the steps thank you!!!
3 Greenwork Accessories assembles a computer networking device from kits of imported components. You have been asked to develop a quarterly and annual operating budget and pro- forma income statements for 2016. You have obtained the following information: 20 points Beginning-of-year balances Cash Accounts receivable (previous quarter's sales) Raw materials Finished goods $40,000.00 $15,000.00 300 kits 400 units $40,000.00 $10,000.00 Borrowed funds Desired end-of-vear inventory balances Raw materials Finished goods 500 kits 200 units Desired end-of-quarter balances Standard cost per unit Units Unit price Total $40.00 $40.00 .. 0.8 hour $20.00 16.00 1 kit Direct labor hours at rate Variable overhead/labor hour Total standard variable cost Fixed cost per quarter Cash . . Depreciation Total . 0.8 hour $10.00 8.00 $64.00 . . . . .. . .. . .. S40,000.00 10,000.00 $50,000.00 . --.- . - Selling and administrative costs Variable cost per unit. . .. Fixed costs per quarter: Cash . . Depreciation.-.-.. ----.- - $6.00 . . .. 5,000.00 Total Interest rate per quarter Portion of sales collected Quarter of sale Subsequent quarter.... Bad debts Portion of purchases paid Quarter of purchase. Subsequent quarter Unit selling price $25,000.00 0.04 0.75 0.24 0.01 0.7 0.3 $115.00 Sales Forecast First Second Third Fourth 2,400 1,500 2,0003,100 Additional information All cash payments except purchases are made quarterly as incurred. All borrowings occur at the start of the quarter All repayments on borrowings occur at the end of the quarter All interest on borrowed funds is paid at the end of each quarter Borrowings and repayments may be made in any amount. a. b. C. d. e. f. g. A sales budget for each quarter and the year A production budget for each quarter and the year. A purchases budget for each quarter and the year A manufacturing cost budget for each quarter and the year. A selling and administrative expense budget for each quarter and the year. A cash budget for each quarter and the year. A pro-forma contribution income statement for each quarter and the yearStep by Step Solution
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