Prepare and submit (IN PROPER FORM) a budgeted balance sheet for June 30 and a budgeted income/retained earnings statement for the three months ending June 30. Someone please help me with my managerial accounting homework! The assignment is as follows and I have all the info needed attached. Just in the regular format it doesn't matter! Please Help! Assignment:

DIRECT MATERIALS BUDGET Additional data: 5 pounds of material are required per unit of product. Management desires to have materials on hand at the end of each month equal to 10% of the following month's production needs. The beginning materials inventory was 13,000 pounds. The material costs $0.40 per pound. April May June Quarter Required production in units .... 26,000 46,000 29,000 101,000 Raw materials per unit (pounds) X 5 X 5 X 5 x 5 Production needs (pounds) ...... 130,000 230,000 145,000 505,000 Add desired ending inventory (pounds)* ........ .. 23.000 14,500 11,500 11,500 Total needs (pounds).. ............ 153,000 244,500 156,500 516,500 Less beginning inventory (pounds) .... 13,000 23,000 14,500 13.000 Raw materials to be purchased (pounds) ........ ...... 140,000 221,500 142,000 503,500 Cost of raw materials to be purchased at $0.40 per pound $56,000 $88,600 $56,800 $201,400 * For June: 23,000 units produced in July 5 pounds per unit = 115,000 pounds; 115,000 pounds x 10% = 11,500 pounds June 30 raw materials inventory 11,500 pounds COMPREHENSIVE BUDGETING EXAMPLE Royal Company is preparing budgets for the second quarter ending June 30. Budgeted sales of the company's only product for the next five months are: April ...... 20,000 units May ....... 50,000 units June...... 30,000 units July ....... 25,000 units August... 15,000 units The selling price is $10 per unit. The following elements of the master budget will be prepared in this example: 1. Sales budget (with a schedule of expected cash collections). 2. Production budget. 3. Direct materials budget (with a schedule of expected cash disbursements for materials). 4. Direct labor budget. 5. Manufacturing overhead budget. 6. Ending finished goods inventory budget. 7. Selling and administrative expense budget. 8. Cash budget. 9. Budgeted income statement. 10. Budgeted balance sheet. ENDING FINISHED GOODS INVENTORY BUDGET Additional data: Royal Company uses absorption costing in its budgeted income statement and balance sheet. Manufacturing overhead is applied to units of product on the basis of direct labor-hours. The company has no work in process inventories. Quantityds $0.40 per hour Total $2.00 0.50 2.50 $5.00 9.50 Computation of absorption unit product cost: Cost Direct materials ............ 5 pounds $0.40 per pound Direct labor 0.05 hours $10.00 per hour Manufacturing overhead. 0.05 hours $50.00 per hour* Unit product cost .......... Predetermined Total manufacturing overhead overhead rate Total direct labor hours $252,500 - = $50.00 per hour 5,050 hours Budgeted ending finished goods inventory: Ending finished goods inventory in units. 5,000 Unit product cost (see above] ........... X $5 Ending finished goods inventory in dollars ............ $25,000 AGENDA: PROFIT PLANNING (BUDGETING) Building a master budget. 1. Sales budget 2. Production budget 3. Direct materials budget 4. Direct labor budget 5. Manufacturing overhead budget 6. Ending finished goods inventory budget 7. Selling and administrative expenses budget 8. Cash budget 9. Budgeted income statement 10. Budgeted balance sheet OVERVIEW OF BUDGETING A budget is a detailed plan for acquiring and using financial and other resources over a specified period. Budgeting involves two stages: Planning: Developing objectives and preparing various detailed budgets to achieve those objectives. Control: The steps taken by management to attain the objectives set down at the planning stage. PURPOSES OF BUDGETING Budgets communicate management's plans throughout the organization. Budgeting forces managers to give planning top priority. Budgets provide a means of allocating resources to their most effective uses. AGENDA: PROFIT PLANNING (BUDGETING) Building a master budget. 1. Sales budget 2. Production budget 3. Direct materials budget 4. Direct labor budget 5. Manufacturing overhead budget 6. Ending finished goods inventory budget 7. Selling and administrative expenses budget 8. Cash budget 9. Budgeted income statement 10. Budgeted balance sheet OVERVIEW OF BUDGETING A budget is a detailed plan for acquiring and using financial and other resources over a specified period. Budgeting involves two stages: Planning: Developing objectives and preparing various detailed budgets to achieve those objectives. Control: The steps taken by management to attain the objectives set down at the planning stage. PURPOSES OF BUDGETING Budgets communicate management's plans throughout the organization. Budgeting forces managers to give planning top priority. Budgets provide a means of allocating resources to their most effective uses. SALES BUDGET Budgeted sales (units)... Selling price per unit...... Total sales April May June Quarter 20,000 50,000 30,000 100,000 x $10 x $10 x $10 x $10 $200,000 $500,000 $300,000 $1,000,000 SCHEDULE OF EXPECTED CASH COLLECTIONS Additional data: All sales are on account. The company collects 70% of these credit sales in the month of the sale; 25% are collected in the month following sale; and the remaining 5% are uncollectible. The accounts receivable balance on March 31 was $30,000. All of this balance was collectible. April May June Quarter $ 30,000 $ 30,000 140,000 140,000 50,000 $ 50,000 Accounts receivable beginning balance.......... April sales 70% $200,000 ........... 25% $200,000 ... May sales 70%