Questions 1-8 as requested has too much information to post.

****************need question 9 and 10****************************

The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash $ 59,000 Accounts receivable 487,500 Raw materials inventory 93,010 Finished goods inventory 433,000 Total current assets 1,072,510 Equipment, gross 638,000 Accumulated depreciation (169,000) Equipment, net 469,000 Total assets $1,541,510 Liabilities and Equity Accounts payable $ 215,410 Short-term notes payable 31,000 Total current liabilities 246,410 Long-term note payable 530,000 Total liabilities 776,410 Common stock 354,000 Retained earnings 411,100 Total stockholders' equity Total liabilities and equity $1,541,510 To prepare a master budget for April, May, and June of 2017, management gathers the following information: To prepare a master budget for April, May, and June of 2017, management gathers the following information: a. Sales for March total 25,000 units. Forecasted sales in units are as follows: April, 25,000: May, 17.000; June, 22.400; and July. 25.000. Sales of 259,000 units are forecasted for the entire year. The product's selling price is $26.00 per unit and its total product cost is $21.65 per unit. b. Company policy calls for a given month's ending raw materials inventory to equal 50% of the next month's materials requirements. The March 31 raw materials inventory is 4,650 units, which complies with the policy. The expected June 30 ending raw materials inventory is 5.900 units. Raw materials cost $20 per unit. Each finished unit requires 0.50 units of raw materials. c. Company policy calls for a given month's ending finished goods inventory to equal 80% of the next month's expected unit sales. The March 31 finished goods inventory is 20.000 units, which complies with the policy. d. Each finished unit requires 0.50 hours of direct labor at a rate of $15 per hour. e. Overhead is allocated based on direct labor hours. The predetermined variable overhead rate is $4.60 per direct labor hour. Depreciation of $39,710 per month is treated as fixed factory overhead. f. Sales representatives' commissions are 5% of sales and are paid in the month of the sales. The sales manager's monthly salary is $4.900. g. Monthly general and administrative expenses include $34.000 administrative salaries and 0.8% monthly interest on the long-term note payable. h. The company expects 25% of sales to be for cash and the remaining 75% on credit. Receivables are collected in full in the month following the sale (none are collected in the month of the sale). I. All raw materials purchases are on credit, and no payables arise from any other transactions. One month's raw materials purchases are fully paid in the next month. J. The minimum ending cash balance for all months is $98,000. If necessary, the company borrows enough cash using a short-term note to reach the minimum. Short-term notes require an interest payment of 1% at each month-end (before any repayment). If the ending cash balance exceeds the minimum, the excess will be applied to repaying the short-term notes payable balance. k. Dividends of $29.000 are to be declared and paid in May. I. No cash payments for income taxes are to be made during the second calendar quarter. Income tax will be assessed at 40% in the quarter and paid in the third calendar quarter. m. Equipment purchases of $149,000 are budgeted for the last day of June. Required: Prepare the following budgets and other financial information as required. All budgets and other financial information should be prepared for the second calendar quarter, except as otherwise noted below. (Round calculations up to the nearest whole dollar, except for the amount of cash sales, which should be rounded down to the nearest whole dollar.): : 1. Sales budget 2. Production budget. 3. Raw materials budget. 4. Direct labor budget. 5. Factory overhead budget. 6. Selling expense budget. : 7. General and administrative expense budget. : 8. Cash budget. 9. Budgeted income statement for the entire second quarter (not for each month separately). :10. Budgeted balance sheet. ZIGBY MANUFACTURING Budgeted Income Statement For Three Months Ended June 30, 2017 Operating expenses Total operating expenses 0 ZIGBY MANUFACTURING Budgeted Balance Sheet June 30, 2017 Total current assets Equipment, net Total assets Liabilities and Equity Liabilities Total Ourrent liabilities Stockholders' Equity Total Stockholders' Equity Total Liabilities and Equity