The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2019.

ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2019
Assets
Cash	$	46,000
Accounts receivable		386,925
Raw materials inventory		96,290
Finished goods inventory		327,831
Total current assets		857,046
Equipment		612,000
Accumulated depreciation		(156,000	)
Equipment, net		456,000
Total assets	$	1,313,046
Liabilities and Equity
Accounts payable	$	196,190
Short-term notes payable		18,000
Total current liabilities		214,190
Long-term note payable		506,000
Total liabilities		720,190
Common stock		341,000
Retained earnings		251,856
Total stockholders equity		592,856
Total liabilities and equity	$	1,313,046

To prepare a master budget for April, May, and June of 2019, management gathers the following information.

1. Sales for March total 20,100 units. Forecasted sales in units are as follows: April, 20,100; May, 18,900; June, 19,700; and July, 20,100. Sales of 246,000 units are forecasted for the entire year. The products selling price is $27.50 per unit and its total product cost is $23.30 per unit.
2. Company policy calls for a given months ending raw materials inventory to equal 50% of the next months materials requirements. The March 31 raw materials inventory is 4,815 units, which complies with the policy. The expected June 30 ending raw materials inventory is 4,600 units. Raw materials cost $20 per unit. Each finished unit requires 0.50 units of raw materials.
3. Company policy calls for a given months ending finished goods inventory to equal 70% of the next months expected unit sales. The March 31 finished goods inventory is 14,070 units, which complies with the policy.
4. Each finished unit requires 0.50 hours of direct labor at a rate of $21 per hour.
5. Overhead is allocated based on direct labor hours. The predetermined variable overhead rate is $3.00 per direct labor hour. Depreciation of $25,440 per month is treated as fixed factory overhead.
6. Sales representatives commissions are 6% of sales and are paid in the month of the sales. The sales managers monthly salary is $3,600.
7. Monthly general and administrative expenses include $18,000 administrative salaries and 0.5% monthly interest on the long-term note payable.
8. The company expects 30% of sales to be for cash and the remaining 70% on credit. Receivables are collected in full in the month following the sale (none are collected in the month of the sale).
9. All raw materials purchases are on credit, and no payables arise from any other transactions. One months raw materials purchases are fully paid in the next month.
10. The minimum ending cash balance for all months is $46,000. If necessary, the company borrows enough cash using a short-term note to reach the minimum. Short-term notes require an interest payment of 1% at each month-end (before any repayment). If the ending cash balance exceeds the minimum, the excess will be applied to repaying the short-term notes payable balance.
11. Dividends of $16,000 are to be declared and paid in May.
12. No cash payments for income taxes are to be made during the second calendar quarter. Income tax will be assessed at 40% in the quarter and paid in the third calendar quarter.
13. Equipment purchases of $136,000 are budgeted for the last day of June.

Required: Prepare the following budgets and other financial information as required. All budgets and other financial information should be prepared for the second calendar quarter, except as otherwise noted below. (Round calculations up to the nearest whole dollar, except for the amount of cash sales, which should be rounded down to the nearest whole dollar.):

Sales budget. (Round Budgeted unit price to 2 decimal places.) ZIGBY MANUFACTURING Sales Budget April, May, and June 2019 Budgeted Budgeted Budgeted Unit Sales Unit Price Sales Dollars April 2019 May 2019 June 2019 Totals for the second quarter Production budget. ZIGBY MANUFACTURING Production Budget April, May, and June 2019 April May June 18,900 19,700 20,100 Next month's budgeted sales (units) Ratio of inventory to future sales 70% 70% 70% Required units of available production Units to be produced Raw materials budget. (Round per unit values to 2 decimal places.) ZIGBY MANUFACTURING Raw Materials Budget April, May, and June 2019 April May June Production budget (units) Materials needed for production Total materials requirements (units) Materials to be purchased Material price per unit Budgeted raw material purchases Direct labor budget. (Round per unit values to 2 decimal places.) ZIGBY MANUFACTURING Direct Labor Budget April, May, and June 2019 April May June Total Budgeted production (units) Total labor hours needed 0 Budgeted direct labor cost Factory overhead budget. (Round per unit values to 2 decimal places.) ZIGBY MANUFACTURING Factory Overhead Budget April, May, and June 2019 April May June Total Labor hours needed Budgeted variable overhead Budgeted fixed overhead Budgeted total overhead