Please provide Excel format or Excel sheet:(1) overhead manufacturing budget (2) selling and administrative expense budget Please provide me for how to find direct labor hours for (1)
Budget Excel Project - Bloomfield Co. Bloomfield is an ice cream company, who makes homestyle ice creams using fresh and all- natural ingredients and sells to retail stores. In preparing the budget for the coming year, 2024, they forecasted the following expected sales and gathered the costs data from managers in various areas of the company. Sales after purchase. Module 24: Standard Costs and Balanced Scorecard " Accounts Payable balance on December 31, 2023 was $56.190 . Forecasted to sell 25,000 units in the I" Quarter of 2024, and an additional 2,000 units each quarter. Labor required is 15 minutes per unit at a ring of $10 per hour. The 2.000 additional units per quarter are expected to continue through the end of 2nd Now 19.50434 15 PA quarter of 2025. Manufacturing Overhead Module 25: Planning for Capital Variable overhead costs are based on labor hours, Intod by bow The 2023 4" quarter sales were 24,000 units. Investments " Ifadirect labor The per labor hour Selling price for one unit of ice cream is $15. 654 per liber hour Ch 22-25 Budgeting & Planning 354 per liber hour Bloomfield maintains 15% of the next quarter's unit sales in ending inventory. re budgeted for the month. listed below All sales to retail stores are on account, with collections of 75% made in the quarter of sales . Budget Excel Project . Salaries $11,000 per month . Depreciation $4,800 per month and 25% collected in the quarter after sale. Budget Excel Project Instructions $ 67% per month Accounts receivable on December 31, 2023 is $72.090. 500 per month ariable selling and administrative good are budgeted per sales unit Direct Materials Budget Project Direct materials cost $3 per pound. 1.5 pounds of direct materials are required to produce at rative costs are budgeted for the month, listed below cach unit. $700 a month Bloomfield maintains 6% of the materials needed for the next quarter in its ending material inventory Raw Materials on December 31, 2023 were 2,250 pounds. Other Informative Payment for materials are made 50% in the quarter of purchase, and 50% in the quarter after purchase. Accounts Payable balance on December 31. 2023 was $56,250. . Packaging expense $.50 per sales unit Fixed selling and administrative costs are budgeted for the month, listed below: $2,000 a month * Insurance $700 a month . Office Salaries $4,090 a month Depreciation $800 a month Other Information . The Cash balance at the end of 2023, is $80,750, and Bloomfield would like to maintain a cash balance of at lea All Direct Labor, Manufacturing Overhead and Selling & Adm lling & Administrative costs are paid in the quarter incurred. has an open line of credit with the bank, and can borrow in amy quarter they don't meet the minimum cash bala Borrowed funds accrue 30% interest for the quarter and are paid in the first quarter cash is available along with interest. Bloomfield collects interest of $3000 from a note receivable each quarter. lams to purchase a $50,000 equipment in cash in Quarter 3. lays an estimated income tax at $5,000 each quarter. J B / V S O &- A- Koand all nur and COGS per unit JK Enter beat of formula here D Instructions: Prepare the following budgets for the Fear Ended 2024 administrative Expense Budget . Prevdont For the Year Ending
