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Input Data (USD Yellow-use only cell references Blue-may type numbers Little Annin Flagmakers Sales Budget (USD May 6,000 $120 Budgeted sales April (units) May (units) une (units) July (units) August (units) Expected 2,500 6,000 11,500 S120 S 360,000 S 1,380,000 3,000 S120 Budgeted Sales (units): Selling Price per unit: Total Sales: $120 S300,000S 2,500 2,000 Little Annin Flagmakers Schedule of Expected Cash Collections (USD) Selling Price/unit 120.00 May Accounts Receivable Cash collection pattern Month of sale Following month Uncollectible Beginning Balance April Sales May Sales June Sales S 132,000 S 132,000 S 285,000 S 288,000 S 396,000 S684,000 S 144,000 S 144,000 S 252,000 S 453,000S540,000 S 1,245,000 55% S 120,000 S 165,000 Cash payments for materials Month of purchase Following month Production requirements Raw material per unit (lb) Raw mat cost per lb Direct labor hours per unit Direct labor rate per hour Variable MOHD per DL hour Fixed MOHD per month Depreciation in Fixed MOHD Total Cash Collections Accounts Receivable, June 30 S 198,000 $7.00 0.5 $40.00 Little Annin Flagmakers Production Budget S57,950 S20,000 July August 2,000 Budgeted Sales Add: Desired ending in Total Needs 6,000 3.000 Selling & administrative costs Variable S&A cost per unit sold Fixed S&A cost per month Depreciation in Fixed S&A cost $1.25 S63,000 $10,000 Required Production Other cash outflows Cash dividends paid each month Equipment purchases May Equipment purchases June Direct Materials Budget (USD Apri 15,000 $47,820 $154,600 May Quarter une Required Production in units Raw Materials per unit (Ibs Production Needs (lbs) Add: Desired endin Total Needs Less Raw Materials to be purchased Cost of Raw Materials Total Cost of Raw Materials Desired ending inventory Finished Goods Raw Materials Cash (S) 20% S30,000 Beginning account balances-March 31 Cash (S) Accounts Receivable (S) Finished Goods inventory S37,745 S 132,000 S30,750 Little Annin Flagmakers Schedule of Expected Cash Disbursements for Material (USD) FG inventory (units) Raw Materials 410 S 32,200 April May Quarter une Raw Materials (Ib) Accounts Payable (S) 4,600 Accounts Payable S55,000 Beginning Balance April Purchases May Purchases June Purchases Land S520,000 S1,800,000 (S750,000) S500,000 S1,247,695 Buildings and equipment Common stock Retained earnings Total Cash Disbursements For Materials Accounts Payable, June 30 Little Annin Flagmakers Direct Labor Budget (USD) Apri May Quarter une Units to be produced DL hours per unit Total DL hours needed DL cost per hour Total direct labor cost Little Annin Flagmakers gOverhead Budget (USD) May June Quarter Budgeted DL hours Variable MOHD rate Total Variable MOHD Fixed MOHD Total MOHD Expense Less Cash disbursements for MOHD M-OHD rate DLH Little Annin Flagmakers Unit Product Cost (USD) Quantity Cost Absorption cost per unit Direct Materials Direct Labor Manufacturing Overhead Unit Product Cost Cost unit Little Annin Flagmakers Cost of Goods Sold Budget (USD) Units Cost of Goods Sold (FIFO) Beg. FG inventory Add: Cost of Goods Mfg'd Good Available for Sale Less: Ending FG invento Cost of Good Sold Cost unit Total Cost Little Annin Flagmakers Selling and Administrative Expense Budget (USD) May June Quarter Budgeted sales in units Variable S&A per unit Total Variable S&A Total Fixed S&A Total S&A Expense Less Cash Disbursements for S&A Little Annin Flagmakers Cash Budget (USD) June Cash Balance, Beginning Add: Receipts Cash Collections Total Cash Available Less Disbursements Direct Materials Direct Labor Selling and Administrative Dividends t Purchases Total Disbursements Excess (deficiency) of cash available: Financing Borrowing Interest Total Financing Cash Balance, ending Little Annin Flagmakers Budgeted Income Statement (USD) Quarter Ending: June 30 Net Sales Less: Cost of Goods Sold Gross Margin Less: S&A Expenses Net Operating Income Less: Interest Expense Net Income Computation of Net Sales Sales Less uncollectible amounts Net Sales Little Annin Flagmakers Budgeted Balance Sheet (USD) Ending March 31st Ending June 30th Current Assets: Accounts Receivable Raw Materials Inventory Finished Goods Invento Plant and Equipment: Buildings and Equipmernt Accounts Payable Common Stock Retained Earnin Total Liabilities and stockholder's Input Data (USD Yellow-use only cell references Blue-may type numbers Little Annin Flagmakers Sales Budget (USD May 6,000 $120 Budgeted sales April (units) May (units) une (units) July (units) August (units) Expected 2,500 6,000 11,500 S120 S 360,000 S 1,380,000 3,000 S120 Budgeted Sales (units): Selling Price per unit: Total Sales: $120 S300,000S 2,500 2,000 Little Annin Flagmakers Schedule of Expected Cash Collections (USD) Selling Price/unit 120.00 May Accounts Receivable Cash collection pattern Month of sale Following month Uncollectible Beginning Balance April Sales May Sales June Sales S 132,000 S 132,000 S 285,000 S 288,000 S 396,000 S684,000 S 144,000 S 144,000 S 252,000 S 453,000S540,000 S 1,245,000 55% S 120,000 S 165,000 Cash payments for materials Month of purchase Following month Production requirements Raw material per unit (lb) Raw mat cost per lb Direct labor hours per unit Direct labor rate per hour Variable MOHD per DL hour Fixed MOHD per month Depreciation in Fixed MOHD Total Cash Collections Accounts Receivable, June 30 S 198,000 $7.00 0.5 $40.00 Little Annin Flagmakers Production Budget S57,950 S20,000 July August 2,000 Budgeted Sales Add: Desired ending in Total Needs 6,000 3.000 Selling & administrative costs Variable S&A cost per unit sold Fixed S&A cost per month Depreciation in Fixed S&A cost $1.25 S63,000 $10,000 Required Production Other cash outflows Cash dividends paid each month Equipment purchases May Equipment purchases June Direct Materials Budget (USD Apri 15,000 $47,820 $154,600 May Quarter une Required Production in units Raw Materials per unit (Ibs Production Needs (lbs) Add: Desired endin Total Needs Less Raw Materials to be purchased Cost of Raw Materials Total Cost of Raw Materials Desired ending inventory Finished Goods Raw Materials Cash (S) 20% S30,000 Beginning account balances-March 31 Cash (S) Accounts Receivable (S) Finished Goods inventory S37,745 S 132,000 S30,750 Little Annin Flagmakers Schedule of Expected Cash Disbursements for Material (USD) FG inventory (units) Raw Materials 410 S 32,200 April May Quarter une Raw Materials (Ib) Accounts Payable (S) 4,600 Accounts Payable S55,000 Beginning Balance April Purchases May Purchases June Purchases Land S520,000 S1,800,000 (S750,000) S500,000 S1,247,695 Buildings and equipment Common stock Retained earnings Total Cash Disbursements For Materials Accounts Payable, June 30 Little Annin Flagmakers Direct Labor Budget (USD) Apri May Quarter une Units to be produced DL hours per unit Total DL hours needed DL cost per hour Total direct labor cost Little Annin Flagmakers gOverhead Budget (USD) May June Quarter Budgeted DL hours Variable MOHD rate Total Variable MOHD Fixed MOHD Total MOHD Expense Less Cash disbursements for MOHD M-OHD rate DLH Little Annin Flagmakers Unit Product Cost (USD) Quantity Cost Absorption cost per unit Direct Materials Direct Labor Manufacturing Overhead Unit Product Cost Cost unit Little Annin Flagmakers Cost of Goods Sold Budget (USD) Units Cost of Goods Sold (FIFO) Beg. FG inventory Add: Cost of Goods Mfg'd Good Available for Sale Less: Ending FG invento Cost of Good Sold Cost unit Total Cost Little Annin Flagmakers Selling and Administrative Expense Budget (USD) May June Quarter Budgeted sales in units Variable S&A per unit Total Variable S&A Total Fixed S&A Total S&A Expense Less Cash Disbursements for S&A Little Annin Flagmakers Cash Budget (USD) June Cash Balance, Beginning Add: Receipts Cash Collections Total Cash Available Less Disbursements Direct Materials Direct Labor Selling and Administrative Dividends t Purchases Total Disbursements Excess (deficiency) of cash available: Financing Borrowing Interest Total Financing Cash Balance, ending Little Annin Flagmakers Budgeted Income Statement (USD) Quarter Ending: June 30 Net Sales Less: Cost of Goods Sold Gross Margin Less: S&A Expenses Net Operating Income Less: Interest Expense Net Income Computation of Net Sales Sales Less uncollectible amounts Net Sales Little Annin Flagmakers Budgeted Balance Sheet (USD) Ending March 31st Ending June 30th Current Assets: Accounts Receivable Raw Materials Inventory Finished Goods Invento Plant and Equipment: Buildings and Equipmernt Accounts Payable Common Stock Retained Earnin Total Liabilities and stockholder's