Please make sure to read the requirements and give proper explanation for the answers

Comprehensive summary problem 9 11 Birdfeeders Unlimited makes backyard birdfeeders. The company sells the birdfeeders to home Improvement stores. $15 Sales price per birdfeeder 15 Board feet of wood required for each birdfeeder $4 Cost per board foot (actual) 10% Desired ending wood inventory stated as a percentage of next month's production requirements 20% Desired ending finished goods Inventory (finished birdfeeders) stated as a percentage of next month's sales 10 $550,000 Total cost of direct materials purchases in December 45% of direct materials purchases are paid in the month of purchase 55% of direct materials purchases are paid in the month after purchase 14 is Sales data for the company can be found on the "SALESDATA" tab. 16 17 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from 18 the Instruction tab you will be marked wrong. 12 13 SUN 19 20 Requirements 23 Prepare the sales budget, including a separate section that details the type of sales made (cash versus 21 credit) for the first three months of the year, as well as a summary budget for the quarter. 2. Prepare the production budget for the first three months of the year, as well as a summary budget for 22 the quarter. a. Enter all amounts as positive values. Do NOT use parentheses or a minus sign for amounts to be subtracted. 3 Prepare the direct materials purchases budget for the first three months of the year, as well as a Summary budget for the quarter. Assume the company needs 120,000 board feet of wood for 24 production in April. a. Enter all amounts as positive values. Do NOT use parentheses or a minus sign for amounts to be 25 subtracted. 126 b Abbreviation used: DM = Direct materials 4 Prepare the cash collections budget for January, February, and March, as well as a summary for the first quarter S Prepare the cash payments budget for direct materials purchases for the months of January February 28 and March, as well as a summary for the first quarter 27 29 A D B E G H 1 **DATA SHEET -- DO NOT ENTER ANSWERS HERE" 2 3 Units 4 October actual sales (prior year) 92,000 5 November actual sales (prior year) 85,000 6 December actual sales (prior year) 78,000 7 January projected sales 80,000 8 February projected sales 90,000 9 March projected sales 95,000 10 April projected sales 105,000 11 12 20% of the total sales are cash sales 13 14 The corhpany's collection history indicates that: 15 80% of credit sales is collected in the month after the sale 16 10% is collected two months after the sale 17 6% is collected three months after the sale 18 4% is never collected 19 20 21 22 23 80% of the total sales are credit sales we L. Prepare the sales budget, including a separate section that details the type of sales made (cash versus credit) for the first 1 three months of the year, as well as a summary budget for the quarter. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction taby z will be marked wrong.) 3 4 5 Birdfeeders Unlimited Sales Budget For the Quarter Ended March 31 5 7 January Month February March 1st Quarter 8 9 Unit sales (birdfeeders) 10 Multiply by: Selling price per birdfeeder 11 Total sales revenue 12 Type of sale: 13 Cash sales 14 Credit sales 15 Total sales revenue 16 17 2. Prepare the production budget for the first three months of the year, as well as a summary budget for the quarter. Always use cell references and formulas where appropriate to receive full credit. Use cell references from requirement 1 and 18 prlor calculations, if applicable. If you copy/paste from the Instruction tab you will be marked wrong.) 19 20 Birdfeeders Unlimited 21 Production Budget 22 For the Quarter Ended March 31 23 Month 24 January February March 1st Quarter 25 Unit sales (birdfeeders) 26 Plus: Desired ending inventory 27 Total needed 28 Less: Beginning inventory 29 Number of units to produce 30 3. Prepare the direct materials purchases budget for the first three months of the year, as well as a summary budget for the 31 quarter. Assume the company needs 120,000 board feet of wood for production in April. Always use cell references and formulas where appropriate to receive full credit. Use cell references from prior requirements Wrap Tex Copy Paste B I A ilil Format Merge & C B57 x fx A D E 30 3. Prepare the direct materials purchases budget for the first three months of the year, as well as a summary budget for the 31 quarter. Assume the company needs 120,000 board feet of wood for production in April (Always use cell references and formulas where appropriate to receive full credit. Use cell references from prior requirements 32 and calculations, if applicable. If you copy/paste from the Instruction tab you will be marked wrong.) 33 34 Birdfeeders Unlimited 35 Direct Materials Budget 36 For the Quarter Ended March 31 37 Month 38 January February March 1st Quarter 39 Units (birdfeeders) to be produced 40 Multiply by: Quantity (board feet) of DM needed per unit 41 Quantity (board feet) needed for production 42 Plus: Desired ending Inventory of DM 43 Total quantity (board feet) needed 44 Less: Beginning inventory of DM 45 Quantity (board feet) to purchase 46 Multiply by: Cost per board foot 47 Total cost of DM purchases 48 49 4. Prepare the cash collections budget for January, February, and March, as well as a summary for the first quarter. Always use cell references and formulas where appropriate to receive full credit. Use cell references from previous calculatifs SO and requirements, if applicable. If you copy/paste from the Instruction tab you will be marked wrong) 51 52 Birdfeeders Unlimited 53 Cash Collections Budget 54 For the Quarter Ended March 31 55 Month 56 January February March 1st Quarter 57 Cash sales in current month 58 Collection on credit sales 59 Credit sales made one month ago 60 Credit sales made two months ago 61 Credit sales made three months ago 62 Total cash collections 63 5. Prepare the cash payments budget for direct material purchases for the months of lanuary February, and March, as well as INSTRUCTIONS SALESDATA ENTERANSWERS + MacR xj Kaur_bma LOFF Home Page Layout Formulas Data Review View Insert & cut Copy Calibri (Body) 12 A A- Wrap Text Paste B I U of - A ES EE Merge & Cent. Format 57 XV foc B D E 3 5. Prepare the cash payments budget for direct materials purchases for the months of January, February, and March, as well as 54 a summary for the first quarter. (Always use cell references and formulas where appropriate to receive full credit. Use cell references from previous calculations 65 and requirements, if applicable. If you copy/paste from the Instruction tab you will be marked wrong.) 66 67 Birdfeeders Unlimited 6B Cash Payments for Direct Materials Purchases 69 For the Quarter Ended March 31 70 Month 71 January 72 Total cost of DM purchases February March 1st Quarter 73 Cash payments for current month purchases 74 Cash payments for prior month purchases 75 Total cash payments 76 77 78 79 80 81 82 85 86 87