please show me the steps to solving problem # 4 and #5,

38 39 40 4 1 42 43 44 45 46 47 48 49 50 5 1 52 53 54 55 56 57 58 59 60 E 1 62 63 64 65 66 67 68 69 70 7 1 71 73 #4 Manufacturing Cost Budget Direct Materials: Production needs(pounds)-found on Budget 3 Cost per pound Total Cost of material issued to production Direct Labor: Units to be produced (Reference Budget 2) Direct labor time per unit (hours) Total hours needed Cost per hour Total cost of Direct Labor Manufacturing Overhead: Budgeted direct labor hours needed (Reference Row 51 above} Variable overhead rate Budgeted variable overhead Budgeted Fixed overhead Total Manufacturing Overhead Total Manufacturing Cost #5 Selling and Administrative Expenses Budget Budgeted Sales in units (Reference Budget 1) Variable Selling and Administrative expenses per unit Total variable expenses Fixed Selling and Administrative expenses Total selling and administrative expenses Manufacturing Inc. Manufacturing Cost Budget For quarter ended June 30, 20XX Agril May June Quarter Manufacturing Inc. Selling and Administrative Expenses Budget For quarter ended June 30, 20XX Agril May June Quarter 10 Data Scenario: 11 You have just been hired into a management position which requires the application of your budgeting skills. 12 You find out that budgeting has not been a priority of the company. 13 You have contacted various areas on the organization and have accumulated the information below to assist you 14 in preparing a comprehensive budget. 45 16 Manufacturing Inc. produces a part used in the production of engines. 17 Actual Sales and Projected sales in units: 18 March (Actual) 38,000 19 April 4,000 20 May 45,000 21 June 50,000 22 July 52,000 Sales are the following type: 56% Cash sales collected in month of sale 44% Credit sales collected in the following month of sale The following data pertains to the manufacturing process. 1. Finished goods inventory March 31st 35,200 units $148.71 budgeted cost to make a unit Desired ending finished goods for each month 80% of next month's sales volume W N 2. Direct materials used: Direct Material Per-Unit Usage Cost per Pound Metal 8 pounds $6 The beginning balance of each month needs to be able to produce 50% of that month's estimated sales volume Beginning material in pounds as of April 1st 176,000 Direct materials paid in month purchased. 3. The direct labor used per unit 4 hours $12.00 per hour Direct labor paid in month incurred. 4. Overhead each month is estimated based on direct labor hours per variable cost. All costs that use cash are paid in month incurred. Fixed cost Variable cost Supplies $1.00 Power 0.60 Maintenance $27,000 0.40 Supervision 15,000 47 Depreciation 19,000 Taxes 1,000 Other 60,000 1.10 Total $132,000 $3.10 ly selling and administrative expenses are based on units sold per variable cost. All costs that use cash are paid in month incurred. Fixed cost Variable cost Salaries $40,000 Commissions $1 56 Depreciation 15,000 57 Shipping 0.7 58 Other 10,000 0.4 59 Total $65.000 $2.10 60 61 6. Unit selling price $124 per unit 7. Cash balance as of April 1st $150,000 Required: You must use cell references on the BudgetSolution worksheet, by referencing this worksheet that contains the data. Prepare the following second quarter budgets and answer the questions listed on the template provided on the BudgetSolution Worksheet. I have adapted the budget model to meet the needs of this company. 67 If I bolded a line item, that is a header and does not need computation on that row. 68 Please note the quarter column is for the quarter so not all lines should be added across in the quarter column. When you have beginning and ending inventory or cash balances this is for the quarter and should be brought over to the quarter column. 69 1. Sales Budget per month and quarter. 70 2. Production Budget per month and quarter. 71 3. Direct materials purchase budget per month and quarter. 72 4. Manufacturing Cost budget per month and quarter. 73 5. Selling and administrative expenses budget per month and quarter