Retro Vinyl Budgeting Assumptions For the year ended December 31, 2022

AutoSave @ off Master Budget_ Course Project _Student Version(2) Search File Home A David Matoss DM - Insert Page Layout Formulas O X Data Review View Automate Help Comments Share Get Add-ins h? IM Line EY Slicer PivotTable Recommended Table Illustrations 4 12 PivotTables My Add-ins Recommended Maps PivotChart 30 Jona Column DY Timeline Charts Comment Text Symbols Map Food Win/Loss ink Tables Add-ins Charts Tours Sparklines Filters Links Comments H22 X Vfx 1 B Retro Vinyl 2 Budgeting Assumptions 4 For the year ended December 31, 2022 5 2022 6 All 4 Quarters 2021 Quarters Quarter 7 Sales Budget 2 1 8 Budgeted sales in units 9 Selling price per unit 10 Percentage of total sales collected in quarter of sale 11 Percentage of total sales collected in quarter after sale 12 Percentage of total sales collected in second quarter after sale 13 Sales in 4th quarter of prior year 14 15 Production Budget 16 Percentage of next quarter's sales units in ending finished goods inventory 17 Units in beginning finished goods inventory 18 Inventory valuation method used is FIFO 19 20 Direct Materials Budget 21 Feet of heart of pine wood per unit (cabinet) 22 | Cost per foot of heart of pine wood 23 Percentage of next quarter's production needs in ending inventory Activate Windows 24 Board feet of heart of pine wood in beginning raw materials inventory 25 Board feet of heart of pine wood needed to meet production for quarter 1 in 2022 .Cover Page Beginning Balance Sheet Budgeting Assumptions| 1-Revenue Budget 2-Production Budget 3-Direct Materials Budget 4-Direct Lab . - + 100% 5:22 PM Ready Ex Accessibility: Investigate 2 860F ~ % (6 6/10/2024 O Type here to search esc C NO O D U W E R Q K . . H S D F G AAutoSave O off Master Budget_ Course Project _Student Version(2) Search A David Matos5 DM 4 - File Home Insert Page Layout Formulas Data Review View Automate Help Comments Share Get Add-ins The IM Line Er Slicer A PivotTable Recommended Ta Table Illustrations My Add -ins Recommended Maps PivotChart 3D and Column Timeline Link Comment Text symbols PivotTables Charts Map To Win/Loss Tables Add-ins Charts s Tours Sparklines Filters Links Comments H22 X v fx 2 Duara feet of Treattol pine wood needed to meet production TOI quarter I'm ZUZZ B G 26 Percentage of purchases paid in the quarter purchased 27 Percentage of purchases paid in the quarter after the purchase 28 29 Direct Labor Budget 30 Direct labor hour required per unit (cabinet) 31 Direct labor cost per hour 32 33 Manufacturing Overhead Budget 34 Variable manufacturing overhead per direct labor hour 35 Fixed manufacturing overhead per quarter 36 Depreciation per quarter (included in the fixed manufacturing overhead) 37 38 Selling and Adminsitrative Expense Budget 39 Variable selling and adminsitrative expense per unit 40 Fixed selling and administrative expense per quarter 41 Advertising 42 Executive salaries 43 Insurance 44 Depreciation (Q1) 45 Depreciation (Q2) 46 Depreciation (Q3) 47 Depreciation (Q4) 48 Percentage of expenses paid in the quarter incurred 49 2021 Quarters Activate Windows gs to activate Windows 50 Cash Budget 1 Minime Cover Page Beginning Balance Sheet Budgeting Assumptions| 1-Revenue Budget |2-Production Budget | 3-Direct Materials Budget |4-Direct Lab ... 5:22 PM Ready Ex Accessibility: Investigate 860F ~ 9 9 ( 6/10/2024 Type here to search 20 esc O 6 3 A P Y U W R T Q EAutoSave C on H Master Budget_ Course Project _Student Version(2) v 9 Search A David Matos5 DM 6 - File Home Insert Page Layout Formulas Data Review View Automate Help Comments Share is Get Add-ins ? Line E Slicer A PivotTable Recommended Table Illustrations and Column DY Timeline PivotTables My Add-ins Recommended Maps PivotChart Link Comment Text Symbols Charts Map food Win/Loss Tables Add-ins Charts Tours Sparklines Filters Links Comments H22 :X V fx G 37 38 Selling and Adminsitrative Expense Budget 39 Variable selling and adminsitrative expense per unit 40 Fixed selling and administrative expense per quarter 47 Advertising 42 Executive salaries 43 Insurance 44 Depreciation (Q1) 45 Depreciation (Q2) 46 Depreciation (Q3) 47 Depreciation (Q4) 48 Percentage of expenses paid in the quarter incurred 49 2021 Quarters 50 Cash Budget 2 3 51 Minimum cash balance 52 PPE purchase 53 Dividends 54 Interest rate per quarter* 55 Borrowings are made at the beginning of a quarter 56 Repayments are made at the end of the year.* * 57 Borrowings and repayments can be made in any increments. 58 Interest payments are made at the end of the year only. 59 60 *Interest rate is simple, not compounded. Activate Windows 61 * * Repayments should not be made if funds must be borrowed in the fourth quarter. e to Settings 62 ... Cover Page Beginning Balance Sheet Budgeting Assumptions| 1-Revenue Budget | 2-Production Budget | 3-Direct Materials Budget |4-Direct Lab ... ( 5:22 PM Ready X Accessibility: Investigate 860F ~ 90 92 6 6/10/2024 Type here to search O O #f O 6 O P Y U Q W E R TAutoSave off Master Budget_ Course Project _Student Version(2) File Home Insert Page Layout Formulas Data Review View Automate Help Get Add-ins Line PivotTable Recommended Table Illustrations 3D and Column PivotTables My Add-ins Recommended Maps PivotChart Charts Map To Win/Loss Tables Add-ins Charts Is Tours Sparklines B16 X V fx G 1 Retro Vinyl 2 Balance Sheet 3 4 December 31, 2021 5 Assets 6 Current assets: 7 Cash 500,000 8 Accounts receivable 9 Raw materials inventory 83,700 10 Finished goods inventory 16,740 11 Total current assets 600, 440 12 Plant & Equipment: 13 Land 80,000 14 Buildings and equipment 520,000 15 Accumulated depreciation 100,000 16 Plant and equipment, net 700,000 17 Total Assets 5 1,300,440 18 19 Liabilities and Stockholders' Equity 20 Curent liabilities: 21 Accounts payable 22 Stockholders' equity 23 Common stock 24 Retained Earnings 25 Total Stockholders' equity 26 Total liabilities and stockholders' equity 27 28 1,300,440.0 29 30 31 32 .. Cover Page Beginning Balance Sheet Budgeting Assumptions 1-Revenue Budget 2-Production Budget 3-Direct Mate Ready Ex Accessibility: Investigate Type here to search O MacBook Air 30 2- esc FA S 2 3 A 15 Q W