Please verify that (1 & 2) are correct and finish 3, 4, 5, 6, & 7. Thank you.

1 Thunder Creek Company expects sales of 19,000 units in January 2018, 25,000 units in February, 31,000 units in March, 35,000 in April, and 37,000 in May. The sales price is $65 per unit. 2 Prepare a sales budget. 3 2018 4 Budget #1: Sales Budget Jan Feb Mar Q1 Total April May 5 Budgeted units to be sold 19,000 25,000 31,000 75,000 35,000 37,000 6 Sales price per unit 65 65 65 65 65 65 7 Total Sales $ 1,235,000 $ 1,625,000 $ 2,015,000 $4,875,000 $ 2,275,000 $ 2,405,000 8 9 Thunder Creek wants to finish each month with 20% of next month's sales in units. 10 Prepare a production budget. (When entering answers in the production budget, use the sales budget for your cell references. Enter all values as positive--without a minus sign--in row 18.) 11 Hint: Beginning inventory for the period is equal to the ending inventory of the previous period. 12 13 2017 2018 14 Budget #2: Production Budget Dec Jan Feb Mar Q1 Total April May 15 Budgeted units to be sold 19,000 25,000 31,000 75,000 35,000 37,000 16 Plus: Desired units in ending inventory 3,800 5,000 6,200 15,000 7,000 7,400 17 Total units needed 24,000 31,200 46,000 82,000 42,400 18 Less: Units in beginning inventory 3,800 5,000 6,200 15,000 7,000 19 Budgeted units to be produced 20,200 26,200 39,800 67,000 35,400 20 Thunder Creek Company uses 3 pounds of direct materials for each unit it produces, at a cost of $5.00 per pound. The company begins the year with 10,500 pounds of 21 material in Raw Materials Inventory. Management desires an ending inventory of 25% of next month's materials requirements 22 Prepare a Direct Materials Budget. (When entering answers in the direct materials budget, use the production budget for your cell references. Enter all values as positive--without a minus sign--in row 31.) 23 24 2018 25 Budget #3: Direct Materials Budget Jan Feb Mar Q1 Total April 26 Budgeted units to be produced 20,200 26,200 39,800 67,000 35,400 27 Direct materials (pounds) per unit 3.00 3.00 3.00 3.00 3.00 28 Direct materials needed for production 60,600 78,600 119,400 201,000 106,200 29 Plus: Desired direct materials in ending inventory (pounds) 19,650 29,850 50,250 26,550 30 Total direct materials needed 80,250 108,450 169,650 227,550 31 Less: Direct materials in beginning inventory (pounds) 10,500 10,500 32 Budgeted purchase of direct materials 69,750 217,050 33 Direct material cost per pound 5.00 5.00 5.00 34 Budgeted cost of direct materials purchases $ 348,750 $ 1,085,250 5.00 36 Thunder Creek Company's workers require 30 minutes of labor to produce each unit of product. The labor cost is $22 per hour 37 Prepare a Direct Labor Budget. (When entering answers in the direct labor budget, use the direct materials budget for your cell references.) 38 2018 39 Budget #4: Direct Labor Budget Jan Feb Mar Q1 Total 40 Budgeted units to be produced 41 Direct labor hours per unit 42 Direct labor hours needed for production 43 Direct labor cost per hour 44 Budgeted direct labor cost 45 1. Thunder Creek Company prepares its Manufacturing Overhead Budget. For each direct labor hour, the variable overhead costs are: 46 Indirect Materials = $2.00 per DLH; Indirect Labor Cost = $2.30 per DLH; Maintenance = $2.20 per DLH 47 2. The Fixed Overhead Costs per month are: Salaries of $50,000, Depreciation =$30,000 and Maintenance = $20,000. 48 Prepare a Manufacturing Overhead Budget. (When entering answers in the manufacturing overhead budget, use the direct labor budget for your cell references.) 49 Use '=ROUND' function to round the predetermined overhead allocation rate to two decimal places. Manufacturing overhead is allocated using direct labor hours. 50 51 2018 52 Budget #5: Manufacturing Overhead Budget Jan Feb Mar Q1 Total 53 Budgeted units to be produced 54 VOH cost per unit 55 Budgeted VOH 56 Budgeted FOH 57 Depreciation 58 Salaries and maintenance 59 Total budgeted FOH 60 Budgeted manufacturing overhead costs 61 62 Direct labor hours (DLHr) 63 Predetermined overhead allocation rate per DLHO 65 Thunder Creek Company uses the first-in, first-out (FIFO) inventory costing method. 66 The Beginning Finished Goods Inventory is $136,800 consisting of 3,800 units. 67 Begin by calculating the projected cost to produce each unit in 2018 based on projected sales. (Hint: In "Cost per unit" table, cell references come from Direct Materials, Direct Labor, and Manufacturing Overhead budgets.) 68 Use '=ROUND' function to round the fixed manufacturing overhead cost per unit to two decimal places. 69 Prepare a Cost of Goods Sold Budget. (Hint: Units per month calculated using cell references to both sales budget and production budget.) 70 Cost per unit 71 Direct material cost per unit 72 Direct labor cost per unit 73 Manufacturing overhead cost per unit 74 Total projected manufacturing cost per unit 75 76 2018 77 Budget #6: Cost of Goods Sold Budget Jan Feb Mar Q1 Total 78 Beginning Finished Goods Inventory, 3,800 units. 79 Units produced and sold in 2018 80 Cost per unit 81 Units per month Total cost of units produced and sold in 2018 83 Total budgeted cost of goods sold 84 Thunder Creek Company's variable supplies expense per month is $4.00 per unit. The fixed selling and administrative expenses per month consist of Salaries: 85 $255,000; Advertising: $35,000; and Depreciation: $38,000 86 Prepare a Selling and Administrative Expense Budget. (When entering answers in the selling and administrative budget, use the sales budget for your cell references.) 87 2018 88 Budget #7: Selling and Administrative Expense Budget Jan Feb Mar Q1 Total 89 Salaries expense 90 Advertising expense 91 Depreciation expense 92 Supplies expense 93 Total budgeted S&A expense 82