The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017 1 1 12,000 164,000 107,200 TIGE MANUFACTURING Estimated Balance Sheet March 31, 2017 Asseto Cash Accounts receivable Haw materials inventory inished poods Inventory total current mets Equipment, ross Accumulated depreciation Equipment, et Total asset Libilities and Equity Accounts payable Short termes payable Total current liabilities Logar note payable Total abilities Common stock Butanederings Total stockholm Totaltabilities and 852,640 604,000 (152.000) 852.900 $1,314,640 5 211,100 14,00 225,100 $10,000 735,300 337,000 242, 140 $1,114,60 to prepare a master budget for April May, and Jone of 2017. management gathers the following information a Sales for March total 20,800 units. Forecasted sales in units are as follows: April 20,800: May, 21600: June 20.900, and July 20.800 Sales of 242,000 units are forecasted for the entire year. The product's selling price is $25.00 per unit and its total product cost is $2100 per unit b. Company policy calls for a given months ending raw materials inventory to equal 50% of the next month's materials requirements The March 31 raw materials inventory is 5.360 units, which complies with the policy. The expected June 30 ending raw materials Inventory is 4 200 units Raw materials cost $20 per unil Each finished unit requires 0.50 units of raw materials Comeniul for a month's endline finished and inveniu to all the next month's evnerteinit cales 2. Production budget 3. Raw materials budget. 4. Direct labor budget. 5. Factory overhead budget. 6. Selling expense budget 7. General and administrative expense budget. 8. Cash budget 9. Budgeted income statement for the entire second quarter (not for each month separately). 10. Budgeted balance sheet. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Required 9 Required 10 Production budget ZIGBY MANUFACTURING Production Budget April, May, and June 2017 April May Next month's budgeted sales (units) 21,500 20,900 Ratio of inventory to future sales 80% 80% June 20.800 80% Required units of available production Units to be produced The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017 1 1 12,000 164,000 107,200 TIGE MANUFACTURING Estimated Balance Sheet March 31, 2017 Asseto Cash Accounts receivable Haw materials inventory inished poods Inventory total current mets Equipment, ross Accumulated depreciation Equipment, et Total asset Libilities and Equity Accounts payable Short termes payable Total current liabilities Logar note payable Total abilities Common stock Butanederings Total stockholm Totaltabilities and 852,640 604,000 (152.000) 852.900 $1,314,640 5 211,100 14,00 225,100 $10,000 735,300 337,000 242, 140 $1,114,60 to prepare a master budget for April May, and Jone of 2017. management gathers the following information a Sales for March total 20,800 units. Forecasted sales in units are as follows: April 20,800: May, 21600: June 20.900, and July 20.800 Sales of 242,000 units are forecasted for the entire year. The product's selling price is $25.00 per unit and its total product cost is $2100 per unit b. Company policy calls for a given months ending raw materials inventory to equal 50% of the next month's materials requirements The March 31 raw materials inventory is 5.360 units, which complies with the policy. The expected June 30 ending raw materials Inventory is 4 200 units Raw materials cost $20 per unil Each finished unit requires 0.50 units of raw materials Comeniul for a month's endline finished and inveniu to all the next month's evnerteinit cales 2. Production budget 3. Raw materials budget. 4. Direct labor budget. 5. Factory overhead budget. 6. Selling expense budget 7. General and administrative expense budget. 8. Cash budget 9. Budgeted income statement for the entire second quarter (not for each month separately). 10. Budgeted balance sheet. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 Required 9 Required 10 Production budget ZIGBY MANUFACTURING Production Budget April, May, and June 2017 April May Next month's budgeted sales (units) 21,500 20,900 Ratio of inventory to future sales 80% 80% June 20.800 80% Required units of available production Units to be produced
