Question 2 (25%) In the attached Excel-file you will find the original budgeted balance sheet for Q3, 2022, made back in December 2021, which concludes with a total balance sum of kr 19 571 100 per 31st August 2022. Here is some additional information about the various balance sheet items: Inventory value: The opening balance consists of 5 800 barbeque grills. Accounts Receivable: The closing balance amounts to 1/3 of the total sales in Q3, 2022 Accounts Payable: The closing balance amounts to 1/3 of the purchases of goods in Q3, 2022. Other payable costs are paid in the month they occur. Payable holiday pay: The opening balance consists of kr 594 000 in holiday pay earned in 2021 to be paid in July 2022 as well as accrued holiday pay for the first six months of 2022, kr 321 000. Payable social security costs: The opening balance consists of an accrual for social security costs of kr 82 000 for May. This will be paid on 15th July 2022 together with the social security costs of kr 85 000 for June. The closing balance consists of the remaining social security costs for Q3, to be paid on 15th September 2022. Make a revised budgeted balance sheet for Q3, based on the information available, with new figures per 31" August 2022 for: Company cars Inventory Accounts Receivable Retained earnings Accounts Payable Payable holiday pay Payable social security costs Payable corporate tax For the balance of the bank deposit account per 31st August 2022 you should use the balance sheet equation. Budgeted income statement Q3, 2022: Sales price per unit: Nerdinand Reidar Sales price per unit Internet sales Total sales in units Sales through Nerdia-chain Sales through Reidar-chain Sales through own E-commerce platform Average purchase price in USD USD rate Average purchase price in NOK Corporate tax rate 200,00 3 950,00 8600 4300 2580 1 720 240,00 9,20 2 208,00 22,00 Sales income Costs of goods sold Gross margin Salaries Bonus to Key Account Managers Holiday pay Social security contribution Total salaries and personnel Depreciation Rent, office and warehouse costs Company cars and travel costs Other payable operating costs Total operating costs Budgeted profit before taxes 03. 2022 Payable taxes Budgeted profit before taxes Q3, 2022 26 746.000 18 988 800 7757 200 29,00% 810 000 249 400 127 128 167 300 1 353 828 36 000 96 000 42 000 30 000 204 000 6 199 372 1363 862 4 835 510 Budgeted balance sheet 03, 2022: Company cars Inventory Accounts Receivable Bank deposits Sum assets 01.06.2022 637200 1206 400 2716 900 5689 200 21249700 Change -36 000 -7507 200 6 198 433 -333833 -1 678 600 31.08.2022 601 200 5 299 200 8915 333 4 755 367 19571100 Share capital Premium fund Retained earnings Accounts Payable Payable holiday pay Payable social security costs Payable corporate tax Short-term loan from owners Sum equity and liabilities 240 000 1 530 000 7244100 6038 600 915000 82 000 0 5200000 21 249 700 0 0 4835 510 -2 211 400 -466872 300 1 363 862 -5 200 000 -1 678 600 240 000 1 530 000 12.079 610 3827200 448 128 82 300 1363 862 0 19 571 100 Budgeted cash flow budget Q3, 2022, indirect method: Budgeted profit before taxes 6199 372 Paid taxes Depreciation 36 000 Reduction of inventory 7507200 Increased Accounts Receivable -6 198 433 Redaced Accounts Payable -2 211 400 Relaced other short-term liabilities -5666 572 Net cash flow 03 -333833 Activity-based costing model: Calculation of activity rates: Variable Procurement Machinery set-up and calibration Production costs Quality inspection Maintenance of equipment Facility costs Fixed per purchase order per production line per production hour per inspection job per service job Product costing: Baconizer Taste Master Direct material Direct labor Packaging Total direct costs per unit 0,00 0.00 Procurement costs, variable Procurement costs, fixed Machinery set-up and calibration, variable Machinery set-up and calibration, fixed Production costs, variable Production costs, fixed Quality inspections, variable Quality inspections, fixed Maintenance of equipment, variable Maintenance of equipment, fixed Facility costs, variable Facility costs, fixed Total indirect costs per unit Total ABC costs per unit 0,00 0,00 0,00 0.00 Costs for excess capacity Procurement Machinery set-up and calibration Production costs Quality inspections Maintenance of equipment Facility costs Total costs for excess capacity Total costs for utlized capacity Total indirect production costs Question 2 (25%) In the attached Excel-file you will find the original budgeted balance sheet for Q3, 2022, made back in December 2021, which concludes with a total balance sum of kr 19 571 100 per 31st August 2022. Here is some additional information about the various balance sheet items: Inventory value: The opening balance consists of 5 800 barbeque grills. Accounts Receivable: The closing balance amounts to 1/3 of the total sales in Q3, 2022 Accounts Payable: The closing balance amounts to 1/3 of the purchases of goods in Q3, 2022. Other payable costs are paid in the month they occur. Payable holiday pay: The opening balance consists of kr 594 000 in holiday pay earned in 2021 to be paid in July 2022 as well as accrued holiday pay for the first six months of 2022, kr 321 000. Payable social security costs: The opening balance consists of an accrual for social security costs of kr 82 000 for May. This will be paid on 15th July 2022 together with the social security costs of kr 85 000 for June. The closing balance consists of the remaining social security costs for Q3, to be paid on 15th September 2022. Make a revised budgeted balance sheet for Q3, based on the information available, with new figures per 31" August 2022 for: Company cars Inventory Accounts Receivable Retained earnings Accounts Payable Payable holiday pay Payable social security costs Payable corporate tax For the balance of the bank deposit account per 31st August 2022 you should use the balance sheet equation. Budgeted income statement Q3, 2022: Sales price per unit: Nerdinand Reidar Sales price per unit Internet sales Total sales in units Sales through Nerdia-chain Sales through Reidar-chain Sales through own E-commerce platform Average purchase price in USD USD rate Average purchase price in NOK Corporate tax rate 200,00 3 950,00 8600 4300 2580 1 720 240,00 9,20 2 208,00 22,00 Sales income Costs of goods sold Gross margin Salaries Bonus to Key Account Managers Holiday pay Social security contribution Total salaries and personnel Depreciation Rent, office and warehouse costs Company cars and travel costs Other payable operating costs Total operating costs Budgeted profit before taxes 03. 2022 Payable taxes Budgeted profit before taxes Q3, 2022 26 746.000 18 988 800 7757 200 29,00% 810 000 249 400 127 128 167 300 1 353 828 36 000 96 000 42 000 30 000 204 000 6 199 372 1363 862 4 835 510 Budgeted balance sheet 03, 2022: Company cars Inventory Accounts Receivable Bank deposits Sum assets 01.06.2022 637200 1206 400 2716 900 5689 200 21249700 Change -36 000 -7507 200 6 198 433 -333833 -1 678 600 31.08.2022 601 200 5 299 200 8915 333 4 755 367 19571100 Share capital Premium fund Retained earnings Accounts Payable Payable holiday pay Payable social security costs Payable corporate tax Short-term loan from owners Sum equity and liabilities 240 000 1 530 000 7244100 6038 600 915000 82 000 0 5200000 21 249 700 0 0 4835 510 -2 211 400 -466872 300 1 363 862 -5 200 000 -1 678 600 240 000 1 530 000 12.079 610 3827200 448 128 82 300 1363 862 0 19 571 100 Budgeted cash flow budget Q3, 2022, indirect method: Budgeted profit before taxes 6199 372 Paid taxes Depreciation 36 000 Reduction of inventory 7507200 Increased Accounts Receivable -6 198 433 Redaced Accounts Payable -2 211 400 Relaced other short-term liabilities -5666 572 Net cash flow 03 -333833 Activity-based costing model: Calculation of activity rates: Variable Procurement Machinery set-up and calibration Production costs Quality inspection Maintenance of equipment Facility costs Fixed per purchase order per production line per production hour per inspection job per service job Product costing: Baconizer Taste Master Direct material Direct labor Packaging Total direct costs per unit 0,00 0.00 Procurement costs, variable Procurement costs, fixed Machinery set-up and calibration, variable Machinery set-up and calibration, fixed Production costs, variable Production costs, fixed Quality inspections, variable Quality inspections, fixed Maintenance of equipment, variable Maintenance of equipment, fixed Facility costs, variable Facility costs, fixed Total indirect costs per unit Total ABC costs per unit 0,00 0,00 0,00 0.00 Costs for excess capacity Procurement Machinery set-up and calibration Production costs Quality inspections Maintenance of equipment Facility costs Total costs for excess capacity Total costs for utlized capacity Total indirect production costs