Requirements: Prepare the following schedules

A. Cost of Goods Sold Budget (quarter only) B. Budgeted Income Statement (quarter only) C. Budgeted Balance Sheet (quarter only)

Klean Steppers A group of students at the University of Technology, Jamaica recently won an award in the annual UTech. Ja Business Model Competition for their invention a white dirt-proof sneaker for children in kindergarten. This invention arose from complaints from parents about having to buy white sneakers for their child children for physical echication that soils easily. As a result of the invention, the students decided to start a business, Klean Steppers' to start production, The sneakers have an innovative design and are made of a robust leather and cushioning material, which heightens the resistance to dirt and dust. The following information was discussed at a niceting with the Klcan Steppers team. Sales and collections The sneakers are designed for girls and boys. Details of selling prices and projected sales in pairs of sneakers for the four-month period are shown below: Type Selling price Months August September 290 320 230 280 Girls Boys July 250 195 $2500 $2900 October 190 160 It is expected that all sales will be on credit to department stores in Jamaica. It is estimated that 30% of customers will pay within one month while the remaining customnicts will pay the month following sale Production Production of sneakers will be based on sales demand. The company requires a closing inventory of 20% of the next month's budgeted sales in pairs of sneakers for girls and boys. There is no opening stock of inventory Direct Materials and Direct labour (a) Thc sicakcis are made with special leather and specially trcalcd rubber for the sole. The Italcrials and labour required to inake cach pair of stuakcis arc as follows: Type of sneakers Leather $370 per meter 0.610 0.4m Cushion S220) per meter 0.15mn 0.101 Labour $340 per how 15 IuICS 12 minutes Girls Boys The company requires a closing inventory of 10% of raw material required for the following inonth's material needed. There was no opening stock of raw material. The company plans to have a closing inventory of leather of 6.2m and 1311 of cusluoning material as at the 30 September, 2