Please help with the following questions. Please have ready by 10 p.m today (08/03/16) the site does not allow me to add this deadline. THANK YOU!!!!

The management of Zigby Manufacturing prepared the following estimated balance sheet for March, 2015: ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2015 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory $ Total current assets Equipment, gross Accumulated depreciation 900,988 630,000 (165,000) Equipment, net Total assets 465,000 $ Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term note payable 1,365,988 204,500 27,000 $ Total liabilities Common stock Retained earnings 231,500 515,000 746,500 350,000 269,488 Total stockholders' equity Total liabilities and equity 65,000 437,760 90,200 308,028 619,488 $ 1,365,988 To prepare a master budget for April, May, and June of 2015, management gathers the following information. a. Sales for March total 22,800 units. Forecasted sales in units are as follows: April, 22,800; May, 16,000; June, 23,000; July, 22,800. Sales of 255,000 units are forecasted for the entire year. The product's selling price is $24.00 per unit and its total product cost is $19.30 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 4,510 units, which complies with the policy. The expected June 30 ending raw materials inventory is 5,500 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 70% of the next month's expected unit sales. The March 31 finished goods inventory is 15,960 units, which complies with the policy. d. Each finished unit requires 0.50 hours of direct labor at a rate of $11 per hour. e. Overhead is allocated based on direct labor hours. The predetermined variable overhead rate is $4.20 per direct labor hour. Depreciation of $35,020 per month is treated as fixed factory overhead. f. Sales representatives' commissions are 10% of sales and are paid in the month of the sales. The sales manager's monthly salary is $4,500. g. Monthly general and administrative expenses include $27,000 administrative salaries and 0.6% monthly interest on the long-term note payable. h. The company expects 20% of sales to be for cash and the remaining 80% on credit. Receivables are collected in full in the month following the sale (none is 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 $55,000. If necessary, the company borrows enough cash using a shortto 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 $25,000 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 $145,000 are budgeted for the last day of June. 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: Antuan Company set the following standard costs for one unit of its product. Direct materials (3.0 Ibs. @ $4.00 per Ib.) Direct labor (2.0 hrs. @ $13.00 per hr.) Overhead (2.0 hrs. @ $18.50 per hr.) Total standard cost $ 12.00 26.00 37.00 $ 75.00 The predetermined overhead rate ($18.50 per direct labor hour) is based on an expected volume of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacity level. Overhead Budget (75% Capacity) Variable overhead costs Indirect materials $ 30,000 Indirect labor 75,000 Power 30,000 Repairs and maintenance Total variable overhead costs Fixed overhead costs Depreciation building Depreciation machinery Taxes and insurance Supervision 30,000 $ 165,000 24,000 70,000 18,000 278,000 Total fixed overhead costs 390,000 Total overhead costs $ 555,000 The company incurred the following actual costs when it operated at 75% of capacity in October. Direct materials (45,500 Ibs. @ $4.10 per lb.) Direct labor (28,000 hrs. @ $13.20 per hr.) Overhead costs Indirect materials Indirect labor Power Repairs and maintenance Depreciationbuilding Depreciationmachinery Taxes and insurance Supervision Total costs $ 186,550 369,600 $ 41,800 176,950 34,500 34,500 24,000 94,500 16,200 278,000 700,450 $ 1,256,600 Sentinel Company is considering an investment in technology to improve its operations. The investment will require an initial outlay of $247,000 and will yield the following expected cash flows. Management requires investments to have a payback period of 3 years, and it requires a 9% return on investments. ( PV of $1,FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the table provided.) Period 1 2 3 4 5 C as h Fl o w $ 47 ,5 00 53 ,4 00 76 ,8 00 95 ,5 00 12 6, 50 0