please do require the first few are just pics for info. #9

Check my work Problem 07-4A Manufacturing: Preparation of a complete master budget LO P1, P2, P3 The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2019. 20 points 8 02:26:45 eBook $ 30,000 464,100 98,505 450,840 1,043, 445 620,000 (160,000) 460,000 $1,503, 445 Print ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2019 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory Total current assets Equipment Accumulated depreciation Equipment, net Total assets Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term note payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and equity References $ 206, 405 22,000 228, 405 510,000 738, 405 345,000 420,040 765, 040 $1,503, 445 To prepare a master budget for April, May, and June of 2019, management gathers the following information. a. Sales for March total 22,100 units. Forecasted sales in units are as follows " Screenshot 00; May, 19,100; June, 19,500; -- I.... Ann I-- - A nn . A - --- ----- - -- - --- ---..--. -ul --11!... -- -- 1- tonnn.--- Check my work 20 points 8 02:26:37 eBook Print a. Sales for March total 22,100 units. Forecasted sales in units are as follows: April, 22,100; May, 19,100; June, 19,500; and July, 22,100. Sales of 250,000 units are forecasted for the entire year. The product's selling price is $30.00 per unit and its total product cost is $25.50 per unit. b. Company policy calls for a given month's ending raw materials inventory to equal 50% of the next month's materials requirements. The March 31 raw materials inventory is 4,925 units, which complies with the policy. The expected June 30 ending raw materials inventory is 4,500 units. Raw materials cost $20 per unit. Each finished unit requires 0.50 units of raw materials. c. Company policy calls for a given month's ending finished goods inventory to equal 80% of the next month's expected unit sales. The March 31 finished goods inventory is 17,680 units, which complies with the policy. d. Each finished unit requires 0.50 hours of direct labor at a rate of $25 per hour. e. Overhead is allocated based on direct labor hours. The predetermined variable overhead rate is $3.50 per direct labor hour. Depreciation of $25,290 per month is treated as fixed factory overhead. f. Sales representatives' commissions are 6% of sales and are paid in the month of the sales. The sales manager's monthly salary is $4,000. g. Monthly general and administrative expenses include $22,000 administrative salaries and 0.9% monthly interest on the long-term note payable. h. The company expects 30% of sales to be for cash and the remaining 70% on credit. Receivables are collected in full in the month following the sale (none are collected in the month of the sale). i. All raw materials purchases are on credit, and no payables arise from any other transactions. One month's raw materials purchases are fully paid in the next month. j. The minimum ending cash balance for all months is $70,000. If necessary, the company borrows enough cash using a short-term note to reach the minimum. Short-term notes require an interest payment of 1% at each month-end (before any repayment). If the ending cash balance exceeds the minimum, the excess will be applied to repaying the short-term notes payable balance. k. Dividends of $20,000 are to be declared and paid in May. I. No cash payments for income taxes are to be made during the second calendar quarter. Income tax will be assessed at 40% in the quarter and paid in the third calendar quarter. m. Equipment purchases of $140,000 are budgeted for the last day of June. References Denuired. Screenshot Check my work Required: Prepare the following budgets and other financial information as required. All budgets and other financial information should be prepared for the second calendar quarter, except as otherwise noted below. (Round calculations up to the nearest whole dollar, except for the amount of cash sales, which should be rounded down to the nearest whole dollar.): 20 points 8 02:26:26 eBook 1. Sales budget. 2. Production budget. 3. Raw materials budget. 4. Direct labor budget. 5. Factory overhead budget. 6. Selling expense budget. 7. General and administrative expense budget. 8. Cash budget. 9. Budgeted income statement for the entire second quarter (not for each month separately). 10. Budgeted balance sheet. Print References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Required 9 Required 10 Selling expense budget. ZIGBY MANUFACTURING Selling Expense Budget April, May, and June 2019 April May June Screenshot Check my work Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Required 9 Required 10 Budgeted income statement for the entire second quarter (not for each month separately). (Round your final answers to the nearest whole dollar.) 20 points (8 01:57:45 eBook Print ZIGBY MANUFACTURING Budgeted Income Statement For Three Months Ended June 30, 2019 Sales Cost of goods sold Gross profit Operating expenses Sales commissions Sales salaries General administrative salaries Long-term note interest Bank loan interest expense References Total operating expenses Income before taxes Income tax Net income $ 0