prepare a master budget and a flexible budget

1) Missy's Stop and Go is preparing its master budget for the quarter ended June 30 Sales Information The company sells a single product for $50 each. Sales are split between 75% cash and 25% on credit (A/R). All credit sales are collected in the following month. The Accounts Receivable balance on March 31 is $10,000 Budgeted sales are as follows: Product Cost and Inventory Information The product cost is $24 per unit. The desired ending inventory is 25% of the next month's sales in units. Inventory in units for March 31:150 units Purchases are paid 35% in the month of the purchase and 65% the next month. The Accounts Payable Balance on March 31 is $8,000 Operating Expense information Commission - ( 5% of Sales) Shipping - ( 2% of Sales) Office Salaries - $1500 per month Rent Expense - $2000 per month Depreciation Expense - $1000 per month epare the following budgets for the months of April, May and June (2 nd Qtr Total Budget) (You must use excel to format the budgets) a) Sales Budget b) Table of Cash Receipts c) Merchandise Purchase Budget d) Table of cash disbursement for Purchase of merchandise (Product Cost) e) Table of cash disbursements for selling and administrative expenses 2) Paradise Building and Fix it LLC static budget for the year is shown below: Prepare a flexible budget for Paradise Building and Fix it that shows a detailed budget for its static budget and its actual sales volume of 60,000 units. Use the contribution margin approach