Step 1 from above needs done. The templates that need used are on the very top, thank you!

Peyton Approved Budget Variance Report For the Year Ended ... 2 Labor variance actual quantity standard cost standard quantity actual cost Static Actual Results Budget Variance Favorable! Unfavorable Direct materials variances Cost/price variance Efficiency variance Total direct materials variance 12 Materials variance actual quantity standard cost actual cost standard quantity Direct labor variances Cost /price variance Efficiency variance Total direct labor variance You are a manager for Peyton Approved, a pet supplies manufacturer. This responsibility requires you to create budgets, make pricing decisions." and analyze the results of operations to determine if changes need to be made to make the company more efficient. You will be preparing a budget for the quarter July through September 2015. You are provided the following information. The budgeted balance sheet on June 30, 2015, is Sim on Approved Budgeted Balance Street 30- 15 ASSETS Cash $42.000 Accounts receivable 259,900 Raw materials inventory 35,650 Finished goods inventory 241.080 Total current assets 578,630 Equipment $720,000 Less accumulated depreciation 240.000 480.000 Total assets $1158.620 LIABILITIES AND EQUITY Accounts payable $63,400 Short-term notes payable 24,000 Taxes payable 10.000 Total current liabilities 97,400 Long-term note payable 300,000 Total liabilities 397,400 Common stock $600,000 Retained earnings 61.230 Total stockholders' equity 661.230 Total liabilities and equity $1158.630 - All assumptions are new and apply to the July through September budget period. 1. Sales were 20,000 units in June 2015. Foreoasted sales in units are as follows: July 18,000: August, 22,000: September, 20,000: October, 24,000 The product's selling price is $18.00 per unit and its total product cost is $14.35 per unit. 2. The June 30 finished goods inventory is 16,800 units. 3. Going forward, company policy calls for a given month's ending finished goods inventory to equal 70% of the next month's expected unit sales. 4. The June 30 raw materials inventory is 4,600 units. The budgeted September 30 raw materials inventory is 1,980 units. Raw materials cost $7.75 per unit. Each finished unit requires 0.50 units of raw materials. Company policy calls for a given month's ending raw materials inventory to equal 20% of the next month's materials requirements. 5. Each finished unit requires 0.50 hours of direct laborat arate of $16 per hour. 6. Overhead is allocated based on direct labor hours. The predetermined variable overhead rate is $1.35 per unit produced. Depreciation of $20,000 per month is treated as fixed factory overhead. 7. Monthly general and administrative expenses include $12,000 administrative salaries and 0.9% monthly interest on the long-term note payable. 8. Sales representatives' commissions are 12% of sales and are paid in the month of the sales. The sales manager's monthly salary is $3,750 per month. Sdldlles dll U.JA. HUNLP telesUne Uny-leu le paydule. The following critical elements must be addressed when performing the Budget Variance Analysis using the Budget Variance Worksheet. The Budget Variance Worksheet can be found in the Assignment Guidelines and Rubrics folder. The actual quantity of material used was 31,000 with an actual cost of $7.75 per unit. The actual labor hours were 33,000 with an actual rate per hour of $15. Step 1: Complete A. Develop a variance analysis including a budget variance performance report and appropriate variances for materials, labor, and overhead. Start with the Labor and Materials Variance tab. Standard costs quantities come from the raw materials budget and the labor budget. Use the exhibits in chapter 13 as a guide After completing the Labor and Materials Variance tab, transfer variances to the Budget Variance Report tab. Congratulations! You have completed the workbook portion of Final Project Part 1. To complete the remainder of the Budget Variance Analysis portion of Final Project Part I, use the Final Project Part I Budget Variance Report Template. The Budget Variance Report Template can be found in the Assignment Guidelines and Rubrics folder. Peyton Approved Budget Variance Report For the Year Ended ... 2 Labor variance actual quantity standard cost standard quantity actual cost Static Actual Results Budget Variance Favorable! Unfavorable Direct materials variances Cost/price variance Efficiency variance Total direct materials variance 12 Materials variance actual quantity standard cost actual cost standard quantity Direct labor variances Cost /price variance Efficiency variance Total direct labor variance You are a manager for Peyton Approved, a pet supplies manufacturer. This responsibility requires you to create budgets, make pricing decisions." and analyze the results of operations to determine if changes need to be made to make the company more efficient. You will be preparing a budget for the quarter July through September 2015. You are provided the following information. The budgeted balance sheet on June 30, 2015, is Sim on Approved Budgeted Balance Street 30- 15 ASSETS Cash $42.000 Accounts receivable 259,900 Raw materials inventory 35,650 Finished goods inventory 241.080 Total current assets 578,630 Equipment $720,000 Less accumulated depreciation 240.000 480.000 Total assets $1158.620 LIABILITIES AND EQUITY Accounts payable $63,400 Short-term notes payable 24,000 Taxes payable 10.000 Total current liabilities 97,400 Long-term note payable 300,000 Total liabilities 397,400 Common stock $600,000 Retained earnings 61.230 Total stockholders' equity 661.230 Total liabilities and equity $1158.630 - All assumptions are new and apply to the July through September budget period. 1. Sales were 20,000 units in June 2015. Foreoasted sales in units are as follows: July 18,000: August, 22,000: September, 20,000: October, 24,000 The product's selling price is $18.00 per unit and its total product cost is $14.35 per unit. 2. The June 30 finished goods inventory is 16,800 units. 3. Going forward, company policy calls for a given month's ending finished goods inventory to equal 70% of the next month's expected unit sales. 4. The June 30 raw materials inventory is 4,600 units. The budgeted September 30 raw materials inventory is 1,980 units. Raw materials cost $7.75 per unit. Each finished unit requires 0.50 units of raw materials. Company policy calls for a given month's ending raw materials inventory to equal 20% of the next month's materials requirements. 5. Each finished unit requires 0.50 hours of direct laborat arate of $16 per hour. 6. Overhead is allocated based on direct labor hours. The predetermined variable overhead rate is $1.35 per unit produced. Depreciation of $20,000 per month is treated as fixed factory overhead. 7. Monthly general and administrative expenses include $12,000 administrative salaries and 0.9% monthly interest on the long-term note payable. 8. Sales representatives' commissions are 12% of sales and are paid in the month of the sales. The sales manager's monthly salary is $3,750 per month. Sdldlles dll U.JA. HUNLP telesUne Uny-leu le paydule. The following critical elements must be addressed when performing the Budget Variance Analysis using the Budget Variance Worksheet. The Budget Variance Worksheet can be found in the Assignment Guidelines and Rubrics folder. The actual quantity of material used was 31,000 with an actual cost of $7.75 per unit. The actual labor hours were 33,000 with an actual rate per hour of $15. Step 1: Complete A. Develop a variance analysis including a budget variance performance report and appropriate variances for materials, labor, and overhead. Start with the Labor and Materials Variance tab. Standard costs quantities come from the raw materials budget and the labor budget. Use the exhibits in chapter 13 as a guide After completing the Labor and Materials Variance tab, transfer variances to the Budget Variance Report tab. Congratulations! You have completed the workbook portion of Final Project Part 1. To complete the remainder of the Budget Variance Analysis portion of Final Project Part I, use the Final Project Part I Budget Variance Report Template. The Budget Variance Report Template can be found in the Assignment Guidelines and Rubrics folder