pls help me answer all of them

Question 1 Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry Data regarding the stores operations follow: Sales are budgeted at $330.000 for November, $300,000 for December, and $320,000 for January Collections are expected to be 85% in the month of sale, 14% in the month following the sale, and 1% uncollectible The cost of goods sold is 60% of sales The company purchases 80% of its merchandise in the month prior to the month of sake and 20% in the month of sale. Payment for merchandise is made in the month following the purchase Other monthly expenses to be paid in cash are $21,200. Monthly depreciation is $21,000. Ignore taxes Assets Cash Statement of Financial Position As at October 31 $ 22,000 Accounts receivable (net of allowance for uncollectible accounts) 83.000 Inventory 158.400 Property, plant and equipment (net of $594,000 accumulated depreciation) 1.004.000 Total assets $1.267,400 Liabilities and Stockholders' Equity Accounts payable $ 196,000 Common stock Retained earnings 451.400 Total liabilities and stockholders' equity $1.267,400 Required: a. Prepare a Schedule of Expected Cash Collections for November and December (6 marks) b. Prepare a Merchandise Purchases Budget for November and December (8 marks) c. Prepare Cash Budgets for November and December (8 marks) 4. Prepare Budgeted Income Statements for November and December. (13 marks) c. Prepare a Budgeted Statement of Financial Position for the end of December (15 marks) (Total 50 marks) 620,000 Question 2 MC Packaging Company manufactures metal cans used in the food-processing industry. A case of cans sells for $25. The variable standard costs of production for one case of cans are as follows: Direct material $7.50 Direct labor 2.50 Variable manufacturing overhead 6.00 Variable selling and administrative costs amount to S0.50 per case. Budgeted fixed manufacturing overhead is $400,000 per year, and fixed selling and administrative cost is $37,500 per year. The following data pertain to the company's first three years of operation. (A unit refers to one case of cans.) Year 1 Year 2 Year 3 Planned production (in units) 80,000 80.000 80,000 Finished goods inventory (in units), January 1 20.000 Actual production (in units) 80,000 80,000 80,000 Sales (in units) 80,000 60,000 90,000 Finished goods inventory (in units), December 31 20,000 10,000 0 0 0 There were no variances during MC Packaging's first three years of operation. Actual costs were the same as the budgeted and standard costs. Required: a. Prepare operating income statements for MC Packaging Company for its first three years of operations using (i) Absorption costing and (ii) Variable costing. (41 marks) b. Reconcile MC Packaging Company's operating income reported under absorption and variable costing for each of its first three years of operation. Comment on them. (9 marks) (Total 50 marks) End of the Assignment