QUESTION : 1

Golden Stars Company is preparing its master budget for 2020. Relevant data pertaining to its sales, production, and direct materials budgets are as follows:

Sales: Sales for the year are expected to total 1,600,000 units. Quarterly sales are 15%, 20%, 30%, and 35% respectively. The sales price is expected to be $50 per unit for the first three quarters and $55 per unit beginning in the fourth quarter. Sales in the first quarter of 2021 are expected to be 10% higher than the budgeted sales for the first quarter of 2020.

Production: Management desires to maintain ending finished goods inventories at 25% of next quarters budgeted sales volume.

Direct materials: Each unit requires 3 pounds of raw materials at a cost of $5 per pound. Management desires to maintain raw materials inventories at 5% of the next quarters production requirements. Assume the production requirements for the first quarter of 2021 are 1,100,000 pounds.

Prepare the: -

Sales Budget

Production Budget

Direct materials Budget

Labour Budget

Manufacturing Overhead Budget

Selling and Administrative Expense Budget

Budgeted Income Statement

Preparing the Operating Budgets

Cash Budget

Budgeted Balance Sheet.

by quarters for 2020.

please help me with that