prepare the direct labour budget and manufacturing overhead budget

Brookes Inc, manufactures basketballs for $20/unit. Brookes Inc. budgets on a quarterly basis and the sales department has budgeted for the following sales: Q1 Q2 Q3 94 10,000 11,000 12,000 14,000 > Please prepare the Sales Budget. Sales Budget For the year ended December 31, 2020 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Expected Sales (units) 10,000 11,000 12,000 14,000 47,000 20 20 20 20 20 Selling Price (S/unit) Total Budgeted Sales $200,000 $220,000 $240,000 $280,000 $940,000 1 Brookes Inc does not collect all of the sales revenue in the period of sale. The accounts receivable department has budgeted for 85% of sales revenue to be collected in the period of sale and 15% to be collected in the next period. The accounts receivable beginning balance is $80,000 Please prepare the schedule of Expected Cash Collections Quarter 1 Schedule of Expected Cash Collections Quarter 2 Quarter 3 Quarter 4 Year Accounts Receivable, beginning balance 80,000 80,000 First quarter sales 170,000 30,000 200,000 Second quarter sales 187,000 33,000 220,000 Third quarter sales 204,000 36,000 240,000 238,000 238,000 Fourth quarter sales 237,000 217,000 274,000 978,000 Total cash collections 250,000 Brookes Inc. has spoken with the Production Department and determined that it would like to have a desired ending tinished goods inventory of 20% of next periods sales. The assumed beginning inventory of finished goods for 1 and the desired ending inventory of 4 is provided > Please prepare the Production Budget. Production Budget For the Year Ended December 31, 2019 Quarter 2 Quarter 3 Quarter 1 Quarter 4 Year 10,000 11,000 12,000 14,000 47.000 Budgeted Sales Add: Desired ending inventory of finished goods 2,400 2,200 2,800 3,000 3,000 + 17,000 14,800 50,000 12,200 13,400 Total needs Deduct: Beginning inventory of finished goods 2,400 2,200 2,800 2,000 2,000 14,200 48,000 12,400 11,200 10,200 Required Production Layout References Mailings Review View Help Table Design Layout AAA- A 2 AB-A ALT . Normal 1 No Spac... Heading 1 Heading 2 Tele Replace Dita Paragraph Styles The assumed 01 beginning inventory of raw material and the ending inventory for provided Please prepare the Direct Materials Budget Direct Materials Budget For the Year Ended December 31, 2019 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Required Production in Cases 10,200 11,200 12,400 14,200 48,000 Production needs 153,000 168,000 186,000 213,000 720,000 Add: Desired ending inventory of raw materials 16,800 18,600 21,300 22,500 22,500 169,800 186,600 207,300 235,500 Total needs 742,500 Deduct: Beginning inventory of raw materials 16,800 21,000 18,600 21,000 21,300 Raw materials to be purchased 188,700 214,200 721,500 148,800 169,800 be Cost of raw materials purchased 10,822,50 321,300 223,200 283,050 254,700 I Armounts Payable Department has advised Brookes Inc. that the expect to pay for Direct Materials 50% in the period of ourchase and 50% D'Focus Layout References Mailings Review View Help Table Design Layout - A A A A E.E.EE21 A-D-A- 1 Normal 1 No Spac. Heading 1 Heading 2 Title Find Replace Select- Editing C 15 Paragraph Styles The Accounts Payable Department has advised Brookes In that they expect to pay for Direct Material som in the period of purchase and Sox in the next period. Accounts Payable beginning balance is provided Please prepare the Schedule of Expected Cash Disbursements for Materials. Schedule of Expected Cash Disbursements for Materials Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Accounts Payable, beginning balance $25,800 1,11,600 1,27,350 1,41,525 4,06,275 2,23,200 First quarter purchases 1,11,600 1,11,600 1.27,350 Second quarter purchases 1,27,350 2,54,700 1.41.525 1,41525 2,83,050 Third quarter purchases 1,60,650 1,60,650 Fourth quarter purchases 3.02. 175 9,21,600 2,68,875 2,38,950 1,11 600 Total cash disbursements BUDGETING ASSIGNMENTV2 - Word Tejinder Singh Layout References Mailings Review View Help A A A A E AL A-D-A-EES... | . T Normal 1 No SpacHeading 1 Heading 2 Find Replace Select- Title Chetat 5 Paragraph Styles Editing Voice The Human Resources Department has indicated that the Direct labour Cost per hour is $750 and the Production Department has indicated that the # of Direct Labour Hours per unit is 0.90 > Please prepare the Direct Labout Budget: Direct Labour Budget For the Year Ended December 31, 2019 Q1 02 a3 Year 94 Required Production in cases Total direct labour hours needed Total direct labour cost 1 Brookes Inc. has determined that the Variable Overhead Rate per Direct labour hour is $1.75 and the fixed manufacturing overhead is $6,200 per quarter and depreciation is $1,500. Please prepare the Manufacturing Overhead Budget Manufacturing Overhead Budget Q2 Q3 Q1 04 Year Budgeted direct labour hours $1.75 Variable overhead rate $1.75 $1.75 $1.75 $1.75 Variable manufacturing overhead Fixed manufacturing overhead I Total manufacturing overhead Less Depreciation Cash disbursement for manufacturine overhead