please show excel formulas:)
. Lexie's Wool Sweaters Budgeted Income Statement For the Quarter Ending December 31, 2020, 4 Sales $ 119,000.00 5 Variable Expenses: 6 Variable Manufacturing Expense $ 1,488,892.50 7 Variable S&A Expense 948,730.00 $ 2,437,622.50 8 Contribution Margin 9 Fixed Expenses: 10 Fixed Manufacturing Expense 11 Fixed S&A Expense 12 Net Operating Income 13 Interest Expense 14 Net Income Alea Titles Themes Scale 98 Scale to fit Page Setup Bring Send Forward - Bachoward Print Print Sheet Options F 5 E36 1 X 30750 5 Sales & Collections co E - F G H 7 February October 2020 30,000 Sales in Units (Sweaters) November 2020 34,000 December 2020 55,000 January 2021 47,000 2021 32,000 9 Selling Price per Sweater 100,00 11 Cash Sales Collected in the Month of Sale 12 Credit Sales Collected in the Month of Sale 13 Credit Sales Collected in the following Month 30% 50% 20% 15 Inventory Policy 16 Ending FG Inventory Requirement 17 Ending FG Inventory, September 30, 2020 3% of next months unit sweater sales 1,500 sweaters 19 Product Input Expenses 20 Direct Materials 21 Ending RM Inventory, September 30, 2020 22 Yards of Wool Required per Sweater 23 Raw Materials Cost per Yard of Wool 24 Ending RM Inventory Requirement 8265.60 yards 4 yards per sweater 3.50 per yard 7% of next months sweater production needs 26 Wool Purchases Paid for in the Month of Purchase 85% 27 Wool Purchases Paid for in the Month following the Purchase 15% INPUTS INPUTS - Balance Sheet FG inventory Cost per Unit Sales Budget Expected Cash Co ... 8 Red Themes Fonts Margins Orientation Effects Size Print Breaks Background Print Area Titles Page Setup 10 Height 1 page Scale 65% - Gridlines Headings View View Print Print Sheet Options Themes Bring Send Forward Backward s Scale to Fit E36 - X & 30750 E F G H 2 workers 0.5 hours 15.00 per hour 28 29 Direct Labor 30 Number of Workers Required for the Making of Each 31 Labor Hours Required per Worker per Unit of FG (Sweater) 32 Labor Cost per Hour 33 34 Manufacturing Overhead 35 Variable Manufacturing Overhead 36 Fixed Manufacturing Overhead 37 Noncosh Fixed Manufacturing Overhead (included in above) 38 39 Selling & Administrative Expenses 40 Variable S&A 41 Fixed S&A 42 Noncash Fixed S&A included in above) $ $ 11.75 per sweater 30,200.00 per month (Oct) $ 10,250.00 per month Oct) $ 30,750.00 per month (Nov. & beyond) 15,750.00 per month (Nov. & beyond $ S 7.37 per unit sold 23,000.00 per month (10,750.00) per month 43 44 Factory Update & Cash Flow 45 Factory Update (PP&E) $ 400,500.00 paid on October 31, 2020 47 Principle Borrowed on October 1, 2020 48 Principle Repaid on November 30, 2020 49 Interest Payment on Borrowings in October & November $ 300,000.00 $ 300,000.00 $ 9,000.00 per month (paid in following month) 3rd Quarter Balance Sheet Lexie's Wool Sweaters Balance Sheet As of September 30, 2020 ASSETS LIABILITIES & EQUITIES Cash $ 150,000.00 Accounts Payable $ 14,500.00 Accounts Receivable $ 75,000.00 Notes Payable Raw Materials Inventory $ 28,929.00 Interest Payable Finished Goods Inventory $ 61,125.00 TOTAL LIABILITIES $ 14,500.00 PP&E, net $ 487,000.00 Retained Earnings $ 787,554.60 TOTAL ASSETS $ 802,054.60 TOTAL LIABILITIES & EQUITY '$ 802,054.00 Effects Area Page Setup Sheet Options Scale to Fit Thes ASSETS 5 Cash 6 Accounts Receivable 7 Raw Materials Inventory 8 Finished Goods Inventory 9 PP&E, net 10 TOTAL ASSETS Lexie's Wool Sweaters Budgeted Balance Sheet As of December 31, 2020 LIABILITIES & EQUITIES Accounts Payable Notes Payable Interest Payable TOTAL LIABILITIES Retained Earnings TOTAL LIABILITIES & EQUITIES
