Please use the information to complete the budget sheet, thank you!

Balance Sheet March 31, 2018 Assets 52,000.00 9,000.00 2,750.00 14,300.00 Current Assets Cash Accounts Receivable Raw Materials Inventory (1,100 pounds) Finished Goods Inventory (2,000 units) Total Current Assets Plant and Equipment Equipment Accumulated Depreciation Plant and Equipment, Net Total Assets 78,050.00 930,000.00 (63,000.00) 867,000.00 945.050.00 7,500.00 100,000.00 Liabilities and Stockholders' Equity Liabilities Accounts Payable Bonds Payable Stockholders' Equity Common Stock 800,000.00 Retained Earnings 37,550.00 Total Stockholders' Equity Total Liabilities and Stockholders' Equity 837,550.00 945,050.00 Perky Turkey Jerky, LLC Budgeting Assumptions For the Quarter Ending June 30, 2018 Month May April June July 15,000 Sales Budget Budgeted Sales in units Selling Price Per Unit Percentage of Sales collected in the month of the sale Percentage of Sales collected in the month after the sale 15,000 $9.00 10,000 $9.00 90% 10% 12,000 $9.00 90% 10% 80% 20% Production Budget Percentage of next month's sales in ending finished goods inventory 20% 25% 30% $2.50 $2.50 Direct Materials Budget Meat per pound Pounds of meat per unit Percentage of next months production needs in ending inventory Percentage of purchases paid in the month purchased Percentage of purchases paid in the month after purchase 10% 60% 40% $2.50 2 10% 60% 40% 10% 60% 40% Direct Labor Budget Direct labor hours required per unit (20 units per labor hour) Cost per direct labor hour 0.05 $15.00 0.05 $15.00 0.05 $15.00 Manufacturing Overhead Budget Variable manufacturing overhead per direct labor hour Fixed manufacturing overhead Manufacturing Depreciation $5.00 $15,000 $10,000 $5.00 $15,000 $10,000 $5.00 $15,000 $10,000 $0.15 $0.15 $0.15 Variable Selling and Administrative Expense Budget Sales Commissions Fixed selling and administrative expenses Advertising Manager Salaries Insurance Depreciation on Office Equipment Total fixed selling and administrative expenses $2,500 $5,000 $2,000 $500 $10,000 $2,500 $5,000 $2,000 $500 $10,000 $2,500 $5,000 $2,000 $500 $10,000 Cash Budget Minimum cash balance Simple annual interest rate $50,000 $50,000 $50,000 3% 3% 3% Perky Turkey Jerky, LLC Ending Finished Goods Inventory Budget For the Quarter Ending June 30, 2018 Total Prodcution Cost Per Case Direct Material Direct Labor Manufacturing Overhead Unit Product Cost Quantity pounds hours hours $2.50 $15 $29.32 Cost per pound per hour per DL hour Budgeted ending finished goods inventory Ending finished goods inventory (in units) Unit product cost Dollar value of ending inventory Cost of Goods Sold Units sold Beginning Inventory Produced during the period Cost of Goods Sold Perky Turkey Jerky, LLC Selling and Administrative Expenses Budget For the Quarter Ending June 30, 2018 Month May Quarter Total April June Budgeted sales Variable selling and administrative expense per unit Total variable selling and administrative expense Fixed selling and adminstrative expenses Advertising Manager Salaries Insurance Depreciation on Office Equipment Total fixed selling and administrative expenses Total selling and administrative expenses Less: Depreciation Cash dispersements for selling and admin expenses Balance Sheet March 31, 2018 Assets 52,000.00 9,000.00 2,750.00 14,300.00 Current Assets Cash Accounts Receivable Raw Materials Inventory (1,100 pounds) Finished Goods Inventory (2,000 units) Total Current Assets Plant and Equipment Equipment Accumulated Depreciation Plant and Equipment, Net Total Assets 78,050.00 930,000.00 (63,000.00) 867,000.00 945.050.00 7,500.00 100,000.00 Liabilities and Stockholders' Equity Liabilities Accounts Payable Bonds Payable Stockholders' Equity Common Stock 800,000.00 Retained Earnings 37,550.00 Total Stockholders' Equity Total Liabilities and Stockholders' Equity 837,550.00 945,050.00 Perky Turkey Jerky, LLC Budgeting Assumptions For the Quarter Ending June 30, 2018 Month May April June July 15,000 Sales Budget Budgeted Sales in units Selling Price Per Unit Percentage of Sales collected in the month of the sale Percentage of Sales collected in the month after the sale 15,000 $9.00 10,000 $9.00 90% 10% 12,000 $9.00 90% 10% 80% 20% Production Budget Percentage of next month's sales in ending finished goods inventory 20% 25% 30% $2.50 $2.50 Direct Materials Budget Meat per pound Pounds of meat per unit Percentage of next months production needs in ending inventory Percentage of purchases paid in the month purchased Percentage of purchases paid in the month after purchase 10% 60% 40% $2.50 2 10% 60% 40% 10% 60% 40% Direct Labor Budget Direct labor hours required per unit (20 units per labor hour) Cost per direct labor hour 0.05 $15.00 0.05 $15.00 0.05 $15.00 Manufacturing Overhead Budget Variable manufacturing overhead per direct labor hour Fixed manufacturing overhead Manufacturing Depreciation $5.00 $15,000 $10,000 $5.00 $15,000 $10,000 $5.00 $15,000 $10,000 $0.15 $0.15 $0.15 Variable Selling and Administrative Expense Budget Sales Commissions Fixed selling and administrative expenses Advertising Manager Salaries Insurance Depreciation on Office Equipment Total fixed selling and administrative expenses $2,500 $5,000 $2,000 $500 $10,000 $2,500 $5,000 $2,000 $500 $10,000 $2,500 $5,000 $2,000 $500 $10,000 Cash Budget Minimum cash balance Simple annual interest rate $50,000 $50,000 $50,000 3% 3% 3% Perky Turkey Jerky, LLC Ending Finished Goods Inventory Budget For the Quarter Ending June 30, 2018 Total Prodcution Cost Per Case Direct Material Direct Labor Manufacturing Overhead Unit Product Cost Quantity pounds hours hours $2.50 $15 $29.32 Cost per pound per hour per DL hour Budgeted ending finished goods inventory Ending finished goods inventory (in units) Unit product cost Dollar value of ending inventory Cost of Goods Sold Units sold Beginning Inventory Produced during the period Cost of Goods Sold Perky Turkey Jerky, LLC Selling and Administrative Expenses Budget For the Quarter Ending June 30, 2018 Month May Quarter Total April June Budgeted sales Variable selling and administrative expense per unit Total variable selling and administrative expense Fixed selling and adminstrative expenses Advertising Manager Salaries Insurance Depreciation on Office Equipment Total fixed selling and administrative expenses Total selling and administrative expenses Less: Depreciation Cash dispersements for selling and admin expenses