Request assistance on answering the questions on the attached spreadsheet.

Please make sure you read the academic honesty policy, since I want to make sure everyone realizes that they should not be discussing this exam outside the discussion board. This is an individual assignment and should be completed by each student on their own. I realize some of you maybe best friends or relatives, but this is an individual assignment and you should not be working as a team. Academic Honesty Policy: Each student is assumed to be a mature and responsible adult with high academic and moral standards. There is no place in the business profession or the classroom for dishonesty. Therefore, any student found cheating or presentin g material in a dishonest fashion would be dismissed from the course and given a course grade of \"F.\" You should not exchange files or discuss turn in problems or take home exams outside the discussion board . It is unfair to your classmates to discuss turn-in problems and take home exams via e -mail or to send files with the solution to any member of the class. I always have a discussion thread set up for students to ask questions, so this is the place you should ask questions on these assignments and ex ams. Remember, it does not matter what type of assignment it is, if you are found cheating you will receive an F for the course and the College of Business will be informed of your actions for further proceedings. Project 4 is due by Tuesday, October 22nd. Send via the assignment area and make sure you save your file with first initial of first name and last name. You will be graded on the accuracy of your answer and usage of cell referencing in the DATA area. Covers material in chapter 9. This project covers material in chapter 9 and I have extensive budget demonstrations in the chapter 9 course documents folder. I have a template set up on the solution worksheet that you should use to complete the required budgets that are stated on the solution worksheet tab along with a what if question and article questions. You need to use cell references in the development of your budgets. You must use this worksheet to reference the data that is being inputted onto the budgets on the solution worksheet. Grading Rubric for Project 4 Possible points 1. Prepare a sales budget for November 2. Prepare a production budget for November. 0.5 1 3. Prepare a supporting schedule to determine required material for production and a direct materials purchase budget for November 4. Prepare a direct labor cost budget for November. 5. Prepare a factory overhead cost budget for November 6. Prepare a cost of goods sold budget for November. 0.5 2 2 2 7. Prepare a selling and administrative budget for November, set up based on categorization of expenses into selling and administrative costs. 8. Prepare a budgeted income statement for November. 1 2 9. What if the company decides to start a new advertising campaign 1 10. Article answers-.75 each 3 Total 15 If you type in any numbers in the solution, I will take off 5 pts., since we use Excel so that we can update budgets or do what if analysis without retyping numbers. The budget director for Bird House Unlimited, Inc., has gathered the following data for use in developing the budgeted income statement for November 20XX. Estimated sales for November Bird House 29,000 units at $33 per unit Bird Feeder 25,000 units at $37 per unit Direct materials Estimated inventories at November 1(beginning) Wood Plastic Estimated inventories at November 30th(ending) Wood Plastic 2600 feet 3200 pounds 3500 feet 2800 pounds Direct materials used in production: In the manufacture of a Bird House: Wood Plastic 0.80 feet per unit of product 0.50 pounds per unit of product In the manufacture of a Bird Feeder: Wood Plastic 1.20 feet per unit of product 0.75 pounds per unit of product Estimated cost of direct materials Wood Plastic Work in process-given in total of the 2 products Estimated inventories at November 1(beginning) Estimated inventories at November 30th(ending) $6.00 per feet $0.90 per pound $2,000 $3,000 Finished Goods Estimated inventories at November 1(beginning) Bird House Bird Feeder 4,000 units 2,500 units at at $13 per unit $14 per unit Estimated inventories at November 30th(ending) Bird House Bird Feeder 5,000 units 2,000 units at at $13 per unit $14 per unit Direct Labor Requirements: Bird House Fabrication Department Assembly Department 0.25 hour 0.3 hour at at $15 per hour $12 per hour Fabrication Department Assembly Department 0.45 hour 0.35 hour at at $15 per hour $12 per hour Bird Feeder Estimated Manufacturing Overhead Costs for November Indirect Factory Wages Depreciation of Plant and Equipment Power and Light Insurance and property tax $2,000 1,000 4,000 3,000 Estimated operating expenses for November Sales salaries expense Advertising expense Office salaries expense Depreciation expense-office equipment Telephone expense-selling Telephone expense-administrative Travel expense-selling Office supplies expense Miscellaneous Administrative expense $2,000 10,000 5,000 4,000 5,000 2,000 2,000 3,000 6,000 Estimated other income and expense for November Interest Revenue Interest Expense Estimated tax rate $14,000 10,000 30% Name: Type you name here Required: Prepare the following budgets using cell references and formulas in the shaded cells below. You should not have any numbers typed into the budgets below, since you will be performing what if analysis. I know that my budget format for November is different than the textbook, but conceptually it is the same. 1. Prepare a sales budget for November. 2. Prepare a production budget for November. 3. Prepare a supporting schedule to determine required material for production and a direct materials purchase budget for November. 4. Prepare a direct labor cost budget for November. 5. Prepare a factory overhead cost budget for November. 6. Prepare a cost of goods sold budget for November. 7. Prepare a selling and administrative budget for November, set up based on categorization of expenses into selling and administrative costs. 8. Prepare a budgeted income statement for November. 9. What if the company decides to start a new advertising campaign that will increase the total advertising expense to a total of $12,000 and the estimated sales of bird house would increase to 30,000 units and Bird Feeders would increase to 26,000 units. Make these changes on the data sheet and if you have linked your data correctly to these budgets the budgets should update immediately. What budgets changed? What would be the new budgeted income? Would you recommend this advertising campaign? Why? 10. Read the following article: Armato, Neil (October 2013). Forward Roll: How Companies Can Move Beyond Traditional Budgeting. http://www.journalofaccountancy.com/Issues/2013/Oct/20137811.htm Answer the following questions: a. How has a rolling forecast helped the company referenced in the article? b. What are the 3 stages a company needs to convert to a rolling forecast? c. What are the 4 ways to embrace rolling forecasts? d. How many days can a company save in their budgeting process based on research by the American Productivity & Quality Center? Enter the appropriate cell references or formulas in the shaded cells below. 1. Bird House Unlimited, Inc. Sales Budget For the Month Ending November 30, 20XX Unit Sales Volume Bird House Bird Feeder Total revenue from sales Unit Selling Price Total Sales 29,000 2. Bird House Unlimited, Inc. Production Budget For the Month Ending November 30, 20XX Units Bird House Expected units to be sold Plus desired inventory, November 30, 20XX Total Less estimated inventory, November 1, 20XX Total units to be produced Bird Feeder 29,000 3. Bird House Unlimited, Inc. Schedule to determine the required material for production For the Month Ending November 30, 20XX Bird House Required units for production: Wood required per unit(feet) Wood required for production(feet) Bird Feeder 0.80 Required units for production: Plastic required per unit(Pounds) Plastic required for production(pounds) Bird House Unlimited, Inc. Direct Materials Purchases Budget For the Month Ending November 30, 20XX Wood Required units for production: Bird House Bird Feeder Plus desired ending inventory, November 30, 20XX Total Less estimated beginning inventory, November 1, 20XX Total units to be purchased Cost per material Total direct materials to be purchased 4. Plastic Total Assembly Department Total 3,500 Bird House Unlimited, Inc. Direct Labor Cost Budget For the Month Ending November 30, 20XX Fabrication Department Hours required for production: Bird House Bird Feeder Total Hourly rate Total direct labor cost Units to be produced x hours required per unit $15.00 5. Bird House Unlimited, Inc. Manufacturing Overhead Cost Budget For the Month Ending November 30, 20XX Total 6. Hint: Do not forget you have 2 products and 2 direct materials, so you will need to combine this information below. Bird House Unlimited, Inc. Cost of Goods Sold Budget For the Month Ending November 30, 20XX Direct materials: Direct materials inventory, November 1, 20XX Direct materials purchases Cost of direct materials available for use Less: Direct materials inventory, November 30, 20XX Cost of direct materials placed in production Direct labor Manufacturing overhead Total manufacturing costs Work in process inventory, November 1, 20XX Subtotal Less work in process inventory, November 30, 20XX Cost of goods manufactured Finished goods inventory, November 1, 20XX Cost of finished goods available for sale Less finished goods inventory, November 30, 20XX Cost of goods sold $18,480 See Direct Materials Purchases Budget See Direct Labor Cost Budget See Factory Overhead Cost Budget 7. Bird House Unlimited, Inc. Selling and Administrative Expenses Budget For the Month Ending November 30, 20XX Selling expenses: Total selling expenses Administrative expenses: Total administrative expenses Total operating expenses 8. Bird House Unlimited, Inc. Budgeted Income Statement For the Month Ending November 30, 20XX Sales Revenue Less: Cost of goods sold Gross Margin Operating expenses: Selling expenses Administrative expenses Total operating expenses Income from operations Other income: Interest revenue Other expenses: Interest expense Income before income tax Income tax expense Net income 9. What if the company decides to start a new advertising campaign that will increase the total advertising expense to a total of $12,000 and the estimated sales of bird house would increase to 30,000 units and Bird Feeders would increase to 26,000 units. Make these changes on the data sheet and if you have linked your data correctly to these budgets the budgets should update immediately. What budgets changed? What would be the new budgeted income? Would you recommend this advertising campaign? Why? Please make sure you change your data back to the original information before you submit. 10. Read the following article: Armato, Neil (October 2013). Forward Roll: How Companies Can Move Beyond Traditional Budgeting. http://www.journalofaccountancy.com/Issues/2013/Oct/20137811.htm Answer the following questions: a. How has a rolling forecast helped the company referenced in the article? b. What are the 3 stages a company needs to convert to a rolling forecast? c. What are the 4 ways to embrace rolling forecasts? d. How many days can a company save in their budgeting process based on research by the American Productivity & Quality Center? Other income - Other expenses