Requirement 9. Calculate the budgeted manufacturing cost per unit (assume that fixed manufacturing overhead is budgeted to be $0.70 per unit for the year). (Round your answer to be neare Dalton Manufacturing Budgeted Manufacturing Cost per Unit For the Quarter Ended March 31 Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead costs per unit Fored manufacturing overhead costs per unit Budgeted cost of manufacturing one unit Requirement 10. Prepare a budgeted income statement for the quarter ending March 31 (Hint: Cost of goods sold Budgeted cost of manufacturing one uit Number of units sold and you Requirement 10. Prepare a budgeted income tunment for the quanes ending March 31 (Hint: Cost of poods sold "Batpated cost of manufacturing one unt Number of unita sold) Mound your news 10 Dalton Manufacturing Budgeted Income Statement For the Quarter Ended March 31 Salonu Les Cost of goods sold Gross prote Less: Operating expenses Les Depreciation expense Operating income Les Income tax expense Net income Enter any number in the edit folds and then continue to the next question Dalton Manufacturing is preparing its master budget for the first quarter of the upcoming year. The following data pertain to (Click the icon to view the data.) (Click the icon to view additional data.) Read the requirements Month February March Quarter January 34860 461500 41580 40320 Cash sales Credits sales 116760 64740 77220 188110 Total cash collections 81010 106320 117540 304870 Requirement 2. Prepare a production budget. (Hint: Unit sales - Sales in dollars + Selling price per unit.) Dalton Manufacturing Production Budget For the Quarter Ended March 31 Month January February March Quarter Unit sales 8300 9900 9600 27800 990 Plus: Desired ending inventory 960 900 2850 Total needed 9290 10860 10500 30650 Less: Beginning inventory 830 990 960 2780 Units to produce 8460 9870 9540 27870 Requirement 3. Prepare a direct materials budget. (Round your answers to the nearest whole dollar.) nan nantine Enter any number in the edit fields and then continue to the next question. COM Quarter March 9540 27870 3 3 Direct Materials Budget For the Quarter Ended March 31 Month January February Units to be produced 8460 9870 Multiply by: Quantity (pounds) of DM needed per unit 3 3 Quantity (pounds) needed for production 25380 29610 Plus: Desired ending inventory of DM 5922 5724 Total quantity (pounds) nooded 31302 35334 Less: Beginning inventory of DM 5076 5922 Quantity (pounds) to purchase 26226 29412 Multiply by: Cost per pound 2 52452 58824 Total cost of DM purchases 28620 5376 83610 5376 88986 33996 5724 5078 28272 83910 2 2 2 56544 167820 Cash Payments for Direct Materials Budget For the Quarter Ended March 31 Month January February March Quarter 20% of current month DM purchases 10490 11765 11309 33564 80% of last month's DM purchases 43000 41962 47059 132021 Total cash payments 53490 53727 58368 165585 Requirement 5. Prepare a cash payments budget for direct labor. Dalton Manufacturing Cash Payments for Direct Labor Budget For the Quarter Ended March 31 Month January February March Quarter 3807 4446 4293 12546 Total cost of direct labor For the Quarter Ended March 31 Month January February March Quarter Variable manufacturing overhead costs 9306 10857 10494 30657 Rent (foed) 5500 5500 5500 16500 Other fixed MOH 2900 2900 2990 8700 Cash payments for manufacturing overhead 17706 19257 18894 55857 Requirement 7. Prepare a cash payments budget for operating expenses. (Round your answers to the nearest whole dollar.) Dalton Manufacturing Cash Payments for Operating Expenses Budget For the Quarter Ended March 31 Month January February March Quarter Variable operating expenses 10375 12375 12000 34750 Fixed operating expenses 1800 1800 1800 5400 12175 14175 13800 40150 Cash payments for operating expenses Requirement 8. Prepare a combined cash budget. (If an indut field is not used in the table leave the input field empty; do not enter a zero. Use parenthese Dalton Manufacturing Enter any number in the edit fields and then continue to the next question. Read the requirements January March Quarter February 4432 4600 3951 4600 81010 106320 117540 304870 85610 110752 121491 309470 53490 53727 58368 165585 3807 442 4293 12542 17706 19257 18894 55857 12175 14175 13800 40150 Beginning cash balance Plus: Cash collections Total cash available Less: cash payments: Direct material purchases Direct labor Manufacturing overhead costs Operating expenses Tax payment Equipment purchases Total cash payments Ending cash balance before financing Financing Plus: New borrowings Less: Debt repayments Less: Interest payments Total financing Ending cash balance 10000 12200 10000 33800 5000 16600 92178 113801 111955 317934 (6568) (3049) 9536 (8464) 11000 7000 18000 (5000) (5000) (470) (5470) (470) 11000 7000 12530 4432 3951 4066 4066 111955 3179341 i Data Table - X Current Assets as of December 31 (prior year): Cash $ 4,600 Accounts receivable, net .. $ 52,000 .. $ 15,200 . - $ 120,000 bund your Inventory Property, plants and equipment, net Accounts payable Capital stock Retained earnings $ 43,000 . . . . . . $ 125,500 $ 23,100 Print Done c.Dalton Manufacturing has a policy that states that each month's ending inventory of finished goods should be 10% of the following month's sales (in units). d. Of each month's direct material purchases, 20% are paid for in the month of purchase, while the remainder is paid for in the month following purchase. Three pounds of direct material is needed per unit at $2.00 per pound. Ending inventory of direct materials should be 20% of next month's production needs. e. Most of the labor at the manufacturing facility is indirect, but there is some direct labor incurred. The direct labor hours per unit is 0.05. The direct labor rate per hour is $9 per hour. All direct labor is paid for in the month in which the work is performed. The direct labor total cost for each of the upcoming three months is as follows: January $ 3,807 February 4,442 March 4,293 f. Monthly manufacturing overhead costs are $5,500 for factory rent, $2,900 for other fixed manufacturing expenses, and $1.10 per unit for variable manufacturing overhead. No depreciation is included in these figures. All expenses are paid in the month in which they are incurred. g.Computer equipment for the administrative offices will be purchased in the upcoming quarter. In January, Dalton Manufacturing will purchase equipment for $5,000 (cash), while February's cash expenditure will be $12,200 and March's cash expenditure will be $16,600. h.Operating expenses are budgeted to be $1.25 per unit sold plus fixed operating expenses of $1,800 per month. All operating expenses are paid in the month in which they are incurred. No depreciation is included in these figures I. Depreciation on the building and equipment for the general and administrative offices is budgeted to be $4,700 for the entire quarter, which includes depreciation on new acquisitions. J.Dalton Manufacturing has a policy that the ending cash balance in each month must be at least $4,000. It has a line of credit with a local bank. The company can borrow in increments of $1,000 at the beginning of each month, up to a total outstanding loan balance of $125,000. The interest rate on these loans is 1% per month simple interest (not compounded). The company would pay down on the line of credit balance in increments of $1,000 if it has excess funds at the end of the quarter. The company would also pay the accumulated interest at the end of the quarter on the funds borrowed during the quarter. k. The company's income tax rate is projected to be 30% of operating income loss interest expense. The company pays $10,000 cash at the end of February in estimated taxes