*Please help me with what you can. I need help with the Schedule of Expected Cash Receipts and Expected June 30 Balance of Accounts Receivable, Schedule of Expected Cash Payments and Expected June 30 Balance of Accounts Payable, Cash Budget, Budgeted Income statement for the entire second quarter (not for each month separately), Budgeted Statement of Retained Earnings (For the entire second quarter) Budgeted Balance Sheet. I have already answered the rest. If possible can you show me the formulas/calculations that got you to the answer. Thank You.

To prepare a master budget for April, May, and June of 2019, management gathers the following information:

a. Sales for March total 24,000 units. Forecasted sales in units are as follows: April 24,000 ; May 16,600; June 22,200; July 24,000. Sales of 251,000 units are forecasted for the entire year. The products selling price is $31.00 per unit and the total product cost is $26.40 per unit.

b. Company policy calls for a given months ending finished goods inventory to equal 70% of the next months expected unit sales. The March 31 finished goods inventory is 16,800 units, which complies with the policy.

c. Company policy calls for a given month's ending raw materials inventory to equal 50% of the next months materials requirements. The March 31 raw materials inventory is 4,705 units, which complies with this policy. The expected June 30 ending raw materials inventory is 5,100 units. Raw materials cost $20 per unit. Each finished unit requires .50 units of raw materials.

d. Each finished unit requires .50 hours of direct labor at a rate of $26.00 per hour.

e. Overhead is allocated based on direct labor hours. The predetermined variable overhead rate is $3.80 per direct labor hour. Depreciation of $31,400 per month is treated as fixed factory overhead.

f. Sales representatives commissions are 5% of sales and are paid in the month of the sales. The sales managers monthly salary is $4,100 per month.

g. Monthly general and administrative expenses include $25,000 administrative salaries and .8% monthly interest on the long-term note payable.

h. The company expects 35% of sales to be for cash and the remaining 65% 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 months raw materials purchases are fully paid in the next month.

j. The minimum ending cash balance for all months is $99,000. 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 $21,000 are to be declared and paid in May

l. 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 $141,000 are budgeted for the last day of June.

n. The estimated balance sheet for the company as of March, 2019 is included on tab (C)

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 (April, May & June shown separately), except as otherwise noted. Round calculations to the nearest whole dollars.

I already answered:

- Sales Budget

- Production Budget

- Raw Materials Budget

- Direct Labor Budget

- Factory Overhead Budget

- Selling Expense Budget

- General and Administrative Expense Budget

I need help with:

- Schedule of Expected Cash Receipts and Expected June 30 Balance of Accounts Receivable

- Schedule of Expected Cash Payments and Expected June 30 Balance of Accounts Payable

- Cash Budget

- Budgeted Income statement for the entire second quarter (not for each month separately)

- Budgeted Statement of Retained Earnings (For the entire second quarter)

- Budgeted Balance Sheet

Use areas on these budget tabs or separate tabs to document any supporting calculations or assumptions needed to come up with the above information.

Problem Answer Checks:

Schedule 2. Units to be Produced: April: 18,820; May: 20,520

Schedule 3. Cost of raw (direct) material purchases: April: $196,700

Schedule 5. Total overhead cost, May: $70,388

Schedule 10. Ending Cash Balance April: $209,532; May: $290,844

Schedule 13. Budgeted Total Assets: June 30 $1,599,650

XXX COMPANY Estimated Balance Sheet March 31 2019 Assets Liabilities and Equity 4 5 Cash 6 Accounts receivable 7 Raw materials inventory 8 Finished goods inventory 9Total current assets 10 Equipment, gross 11 Accumulated depreciation 12 Equipment, net 13 14 Total assets 15 16 17 18 19 20 21 51,000 483,600 94,100 443,520 1,072,220 622,000 161,000 461,000 Accounts payable Income taxes payable Short-term notes payable 211,400 0 23,000 234,400 515,000 749,400 346,000 437,820 783,820 1,533,220 Total current liabilities$ Long-term note payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and equity $ 1,533,220 23 Color Legend 24 25 Data Entry 26 Formula on this worksheet 27 Carryover from another worksheet Formula XXX COMPANY Estimated Balance Sheet March 31 2019 Assets Liabilities and Equity 4 5 Cash 6 Accounts receivable 7 Raw materials inventory 8 Finished goods inventory 9Total current assets 10 Equipment, gross 11 Accumulated depreciation 12 Equipment, net 13 14 Total assets 15 16 17 18 19 20 21 51,000 483,600 94,100 443,520 1,072,220 622,000 161,000 461,000 Accounts payable Income taxes payable Short-term notes payable 211,400 0 23,000 234,400 515,000 749,400 346,000 437,820 783,820 1,533,220 Total current liabilities$ Long-term note payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and equity $ 1,533,220 23 Color Legend 24 25 Data Entry 26 Formula on this worksheet 27 Carryover from another worksheet Formula