Sales Budget:

King	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Year
Budgeted Sales, in units	3,200	3,400	3,580	3,040	13,220
Selling price per Unit	1,150	1,150	1,150	1,150	1,150
Budgeted Sales in $	3680000	3910000	4117000	3496000	15203000
Prince	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Year
Budgeted Sales, in units	1,850	2,000	3,520	2,050	9,420
Selling price per Unit	680	680	680	680	680
Budgeted Sales in $	1258000	1360000	2393600	1394000	6405600
Total Budgeted Sales in $	4938000	5270000	6510600	4890000	21608600
Schedule of Expected Cash Collections
	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Year
Accounts receivable, December 31, 2020	3,000,000				3,000,000
Quarter 1 sales	2962800	1975200			4938000
Quarter 2 sales		3162000	2108000		5270000
Quarter 3 sales			3906360	2604240	6510600
Quarter 4 sales				2934000	2934000
Total Cash collections	5,962,800	5137200	6014360	5538240	22,652,600

Production Budget:

King	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Year
Budgeted Sales (in units)	3,200	3,400	3,580	3,040	13,220
Add: Desired Ending Inventory in units	1020	1074	912	975	975
Total needs	4,220	4,474	4,492	4,015	14,195
Less: Beginning Inventory	700	1020	1074	912	700
Required Production (In units)	3,520	3,454	3,418	3,103	13,495
Prince	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Year
Budgeted Sales (in units)	1,850	2,000	3,520	2,050	9,420
Add: Desired Ending Inventory in units	600	1056	615	570	570
Total needs	2,450	3,056	4,135	2,620	9,990
Less: Beginning Inventory	1500	600	1056	615	1500
Required Production (In units)	950	2,456	3,079	2,005	8,490

Direct Materials Budget:

Direct Materials "Fabric"	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Year
Required Production: "King" (In units)	3,520	3,454	3,418	3,103	13,495
Materials per unit (Sq. yds)	2.00	2.00	2.00	2.00	2.00
Production needs (Sq. yds)	7040	6908	6836	6206	26990
Required Production: "Prince" (In units)	950	2,456	3,079	2,005	8,490
Materials per unit (Sq. yds)	3.00	3.00	3.00	3.00	3.00
Production needs (Sq. yds)	2850	7368	9237	6015	25470
Total Production needs (For King and Prince)	9890	14276	16073	12221	52460
Add: desired Ending Inventory (Sq. yds)	3569	4018.25	3055.25	4461.25	4461.25
Total needs (Sq. yds)	13459	18294.25	19128.25	16682.25	56921.25
Less: Beg Inventory	2000	2000	2000	2000	2000
Materials to be purchased (Sq. yds)	11459	16294.25	17128.25	14682.25	54921.25
Cost of Mat per square yard	10	10	10	10	10
Cost of Materials to be purchased ($)	114590	162942.5	171282.5	146822.5	549212.5
Direct Materials "Wood"	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Year
Required Production: "King" (In units)	3,520	3,454	3,418	3,103	13,495
Materials per unit (linear.ft)	10.00	10.00	10.00	10.00	10.00
Production needs (linear.ft)	35200	34540	34180	31030	134950
Required Production: "Prince" (In units)	950	2,456	3,079	2,005	8,490
Materials per unit (linear.ft)	20.00	20.00	20.00	20.00	20.00
Production needs (linear.ft)	19000	49120	61580	40100	169800
Total Production needs (For King and Prince)	54200	83660	95760	71130	304750
Add: desired Ending Inventory (linear.ft)	25098	28728	21339	225882	225882
Total needs (linear.ft)	79298	112388	117099	297012	530632
Less: Beg Inventory	2500	2500	2500	2500	2500
Materials to be purchased (linear.ft)	76798	109888	114599	294512	528132
Cost of Mat per linear.ft	20	20	20	20	20
Cost of Materials to be purchased ($)	1535960	2197760	2291980	5890240	10562640
Total Cost of Materials to be purchased ($)	1650550	2360702.5	2463262.5	6037062.5	11111852.5
Schedule of Expected Cash Disbursements for Materials
	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Year
Accounts payable, December 31, 2021	1000000				1000000
Quarter 1 purchases	825275	825275			1650550
Quarter 2 purchases		1180351.25	1180351.25		2360702.5
Quarter 3 purchases			1231631.25	1231631.25	2463262.5
Quarter 4 purchases				3018531.25	3018531.25
Total Cash Disbursements	1825275	2005626.25	2411982.5	4250162.5	10493046.3
Balance accounts payable @Dec 31,2022	3018531.25

Labor budget:

Total Cost of Labor	219600	398340	472020	333690	1423650

MO Budget:

Total Overhead for king and prince

$127,200.00

$186,780.00

$211,340.00

$165,230.00

$528,550.00

Selling and administrative Budget:

Total S&A Expense	$79,625.00	$81,100.00	$88,660.00	$79,885.00	$153,770.00

1) Fill in the cash budget below using the information given above making assumptions as required:

Cash Budget	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Year
Beginning Cash Balance
Add Cash Collections (from Sales)
Total Cash Available
Cash disbursements:
Total Cash Disbursements for Materials
Cash disbursement for DL
Cash disbursements for MO
Cash S&A Expenses
Dividend paid
Equipment purchase
Total disbursements
Excess (Deficiency)
Borrowing
Repayment:
Principal
Interest:
Ending cash balance

2) Create a budgeted income statement

3) Create a budgeted statement of financial position