Please help me solve this. Comes from Managerial Accounting 4th edition. chapter 9 P9-55A on page 555

555 The Master Budget ROBLEMS Group A Comprehensive budgeting problem (Learning Objectives 2 Manufacturing is preparing Damon ing year. The following data pertain to Damon Manufacturing's operations: its master budget for the first quarter of the upcom- Assets as of December 31 (prior year): Cash. Accounts receivable, net $ 4,600 $ 46,000 s 15,600 plant, and equipment, net... Accounts payable Capita Retained earnings .. $121,000 43,000 $125,000 $ 23,000 Actual sales in December were $71,000. Selling price per unit is projected to remain a. stable at $12 per unit throughout the budget period. Sales for the first five months of the upcoming year are budgeted to be as follows: January February March April May 99,600 $118,800 $115,200 $108,000 $103,200 b. Sales are 35% cash and 65% credit. All credit sales are collected in the month c Damon Manufacturing has a policy that states that each month's ending inventory of d. Of each month's direct materials purchases, 20% are paid for in the month of pur- following the sale. finished goods should be 10% of the following month's sales (in units) chase, while the remainder is paid for in the month following purchase. Three pounds of direct material is needed per unit at $2 per pound. Ending inventory of direct materials should be 20% of next month's production needs. e. Most of the labor at the manufacturing facility is indirect, but there is some direct labor incurred. The direct labor hours per unit is 0.05. The direct labor rate per hour is $9 per hour. All direct labor is paid for in the month in which the work is performed. The direct labor total cost for each of the upcoming three months is as follows: January February. .. $3,807 $4,442 $4,293 March . Monthly manufacturing overhead costs are $5,500 for factory rent, $2,900 for other fixed manufacturing expenses, and $1.10 per unit for variable manufacturing over- head. No depreciation is included in these figures. All expenses are paid in the month in which they are incurred. g. Computer equipment for the administrative offices will be purchased in the upcoming quarter. In January, Damon Manufacturing will purchase equipment for $5,000 (cash), while February's cash expenditure will be $12,200 and March's cash expenditure wil be $16,600. hOperating expenses are budgeted to be $1.25 per unit sold plus fixed operating expenses of $1,800 per month. All operating expenses are paid in the month in which they are incurred. L Depreciation on the building and equipment for the general and administrative offices is budgeted to be $4,800 for the entire quarter, which includes depreciation on new