This first photo is the Balance sheet and the next is the budget assumptions. The question is to complete the sales, production, direct materials, direct labor, manufacturing overhead, finished goods, selling and administrative, and cash budget as well as the budgeted income statement and balance sheet based on the information given in budget assumptions and the balance sheet.

here is the second photo

the answer is to complete the blank budgets using the information from the first two pictures

22,000.00 9,000.00 2,750.00 14,300.00 6 Current Assets 7 Cash 8 Accounts Receivable 9 Raw Materials Inventory 10 Finished Goods Inventory 11 Total Current Assets 12 Plant and Equipment 13 Equipment 14 Accumulated Depreciation 15 Plant and Equipment, Net 16 Total Assets 48,050.00 960,000.00 (63,000.00) 897,000.00 945,050.00 17 7,500.00 100,000.00 Liabilities and Stockholders' Equity 19 Liabilities 20 Accounts Payable 21 Bonds Payable 22 Stockholders' Equity 23 Common Stock 800,000.00 24 Retained Earnings 37,550.00 25 Total Stockholders'Equity 26 Total Liabilities and Stockholders'Equity 837,550.00 945,050.00 6 Seks Budget 7 Budgeted sales in units Selling PricePerUnit - Percentage of Sales collected in the month of the sale D Percentage of Sales coleted in the month after the sale 2 Production Budget 3 Percentage of next month's sales handing finished goods inventory 5 Direct Material Budget 5 Meat per pound 7 Pounds of meat per unit Percentage of next months production needs in ending Inventory Peroentage of purchases paid in the month purchased 0 Percentage of purchases paid in the month after purchase 1.100 pounds are carried over from March, 1400 pounds should be credo 3 Direct Labor Budget Direct labor hours required per unit (20 units per labor hour) Cost per direct labor hour 5 Monfeturn Overhead Budget Variable marvutacture overhead per direct labor hour Fed manufacturing overhead Manufacture Depreciation Variable Selling and Admistrave Expense Budget 2 Sales Commissions 3 bed selling and administrative expenses 5 Manager Salafes Insurance Depreciation on Ocetquiment Total feed selling and administrative expenses Decretos from purchases during the period are so years Cash Burger Minimum cash balance Equipment Purchases Ovidends Simple anualmerest rate Perky Turkey Jerky, LLC Sales Budget For the Quarter Ending June 30, 2018 Month Quarter Total May June Budgeted Sales (in units) Selling price per unit Total Sales // le of Expected Cash Collections Beginning Accounts Receivable April sales 5 May sales 5 June sales 7 Total cash collections Perky Turkey Jerky, LLC Sales Budget For the Quarter Ending June 30, 2018 April Month May Quarter Total June Budgeted sales in units Add: Desired Ending Inventory Total units needed Less: Units of beginning finished goods Inventory Required production in units Perky Turkey Jerky, LLC Direct Materials Budget For the Quarter Ending June 30, 2018 Month Quarter Total April Required production (in units) Pounds of raw materials per unit Pounds of raw materials needed for production Add: Desired Raw Materials ending inventory Total pounds of Raw Materials needed Less: Beginning Raw Materials inventory Pounds of Raw Materials to be purchased Cost of Raw Materials per pound Cost of Raw Materials to be purchased Schedule of Expected Cash Disbursements for the Purchase of Materials Beginning Accounts Payable April purchases May purchases June purchases Perky Turkey Jerky, LLC Direct Labor Budget For the Quarter Ending June 30, 2018 Month May Quarter Total April June Required production (in units) Direct labor hour per unit Total direct labor hours needed Cost per direct labor hour Total direct labor cost Perky Turkey Jerky, LLC Manufacturing Overhead Budget For the Quarter Ending June 30, 2018 Month May Quarter Total 8 Budgeted direct labor hours 9 Variable Manufacturing Overhead rate 10 Variable Manufacturing Overhead 11 Fixed Manufacturing Overhead 12 Total Manufactuing Overhead 13 Less: Depreciation 14 Cash disbursments for manufacturing overhead 15 17 Total Manufacturing Overhead 18 Total budgeted Direct Labor hours 19 Predetermined overhead rate for the quarter 20 N31 x fx C D Perky Turkey Jerky, LLC Ending Finished Goods Inventory Budget For the Quarter Ending June 30, 2018 WN Total 5 Prodcution Cost Per Case 6 Direct Material 7 Direct Labor 8 Manufacturing Overhead 9 Unit Product Cost Quantity pounds hours hours $2.50 $18 $0.00 Cost per pound per hour per DL hour 12 Budgeted ending finished goods inventory 13 Ending finished goods inventory (in units) 14 Unit product cost 15 Dollar value of ending inventory 19 Cost of Goods Sold 20 Units sold 21 Beginning Inventory 22 Produced during the period 23 Cost of Goods Sold Perky Turkey Jerky, LLC Selling and Administrative Expenses Budget For the Quarter Ending June 30, 2018 OWN Month Quarter Total April 8 Budgeted sales 9 Variable selling and administrative expense per unit 10 Total variable selling and administrative expense 1 Fixed selling and adminstrative expenses 2 Advertising 3 Manager Salaries Insurance Depreciation on Office Equipment 6 Total fixed selling and administrative expenses 7 Total selling and administrative expenses B Less: Depreciation 9 Cash dispersements for selling and admin expenses Perky Turkey Jerky, LLC Cash Budget For the Quarter Ending lune 30, 2018 Schedule Reference April Quarter Total Beginning blance sheet 8 Beginning Cash balance 9 Add: Cash receipts 10 Cash received from customers 11 Total Cash available 12 Lessi Cash disbursements 13 Direct Materials 14 Direct labor 15 Manufacturing Overhead 16 Selling and administrative expenses 17 Equipment purchases 18 Dividends 19 Total Cash disbursements 20 Cash remaining after disbursements 21 Financing 22 Borrowings 23 Repayments 24 interest 25 Total financing 26 Ending Cash balance Direct Materials Direct Lobor Manufocuting Overhead Selling and Admin Assumptions Assumptions NM Perky Turkey Jerky, LLC Budgeted Income Statement For the Quarter Ending June 30, 2018 Sales Sales, Finished Goods 5 Sales 6 Cost of Goods Sold 7 Gross Margin 8 Selling and Administrative Expenses 9 Net Operating income 10 Interest Expense 11 Net Income Selling and Admin Cash Budget WN Perky Turkey Jerky, LLC Budgeted Balance Sheet March 31, 2018 Assets Current Assets Cash Accounts Receivable 9 Raw Materials Inventory 10 Finished Goods Inventory 11 Total Current Assets 12 Plant and Equipment 13 Equipment 14 Accumulated Depreciation 15 Plant and Equipment, Net 16 Total Assets 18 Liabilities and Stockholders' Equity 19 Liabilities 20 Accounts Payable 21 Bonds Payable 22 Stockholders'Equity 23 Common Stock 24 Retained Earnings 25 Total Stockholders'Equity 26 Total Liabilities and Stockholders' Equity Month April Moy une 15,000 Sales Budget Budgeted Sales in units Selling Price Per Unit Percentage of Sales collected in the month of the sale Percentage of Sales collected in the month after the sale 10,000 $9.00 90% 10% 12.000 $9.00 90% 15,000 $9.00 BOX 20% 10% Production Budget Percentage of next month's sales in ending finished goods invento 20% 25% 30% 2.000 units are carried over from March $2.50 $2.50 $2.50 2 Direct Materials Budget Meat per pound Pounds of meat per unit Percentage of next months production needs in ending Inventory Percentage of purchases paid in the month purchased Percentage of purchases paid in the month after purchase 2 5% 5% 75% 1,100 pounds are carried over from March 1.400 pounds should be carried over to July 75% 25% 25 Direct Labor Budget Direct labor hours required per unit (20 units per labor hour) Cost per direct labor hour 0.05 0.05 $18.00 0.05 $18.00 $18.00 Manufacturing Overhead Budget Variable manufacturing overhead per direct labor hour Fleed manufacturing overhead Manufacturing Depreciation $5.00 $15.000 $10.000 $5.00 $15,000 $10,000 $5.00 $15.000 $10,000 $0.10 $0.10 $0.10 Variable Selling and Administrative Expense Budget Sales Commissions Fixed selling and administrative expenses Advertising Manager Salaries Insurance Depreciation on Office Equipment Totalfied selling and administrative expenses $2.500 $5,000 $2.000 $500 $10,000 $2,500 $5,000 $2,000 $500 $10,000 $2,500 $5,000 $2,000 $500 $10,000 Depreciation from purchases during the period are already included 530,000 $30,000 Cash Budget Minimum cash balance Equipment Purchases Dividends Simple annual Interest rate 330.000 512.000 $3,000 Must borrow in $10,000 crements 10 year asset administrative $3,000 $3,000 2N 2N 22,000.00 9,000.00 2,750.00 14,300.00 6 Current Assets 7 Cash 8 Accounts Receivable 9 Raw Materials Inventory 10 Finished Goods Inventory 11 Total Current Assets 12 Plant and Equipment 13 Equipment 14 Accumulated Depreciation 15 Plant and Equipment, Net 16 Total Assets 48,050.00 960,000.00 (63,000.00) 897,000.00 945,050.00 17 7,500.00 100,000.00 Liabilities and Stockholders' Equity 19 Liabilities 20 Accounts Payable 21 Bonds Payable 22 Stockholders' Equity 23 Common Stock 800,000.00 24 Retained Earnings 37,550.00 25 Total Stockholders'Equity 26 Total Liabilities and Stockholders'Equity 837,550.00 945,050.00 6 Seks Budget 7 Budgeted sales in units Selling PricePerUnit - Percentage of Sales collected in the month of the sale D Percentage of Sales coleted in the month after the sale 2 Production Budget 3 Percentage of next month's sales handing finished goods inventory 5 Direct Material Budget 5 Meat per pound 7 Pounds of meat per unit Percentage of next months production needs in ending Inventory Peroentage of purchases paid in the month purchased 0 Percentage of purchases paid in the month after purchase 1.100 pounds are carried over from March, 1400 pounds should be credo 3 Direct Labor Budget Direct labor hours required per unit (20 units per labor hour) Cost per direct labor hour 5 Monfeturn Overhead Budget Variable marvutacture overhead per direct labor hour Fed manufacturing overhead Manufacture Depreciation Variable Selling and Admistrave Expense Budget 2 Sales Commissions 3 bed selling and administrative expenses 5 Manager Salafes Insurance Depreciation on Ocetquiment Total feed selling and administrative expenses Decretos from purchases during the period are so years Cash Burger Minimum cash balance Equipment Purchases Ovidends Simple anualmerest rate Perky Turkey Jerky, LLC Sales Budget For the Quarter Ending June 30, 2018 Month Quarter Total May June Budgeted Sales (in units) Selling price per unit Total Sales // le of Expected Cash Collections Beginning Accounts Receivable April sales 5 May sales 5 June sales 7 Total cash collections Perky Turkey Jerky, LLC Sales Budget For the Quarter Ending June 30, 2018 April Month May Quarter Total June Budgeted sales in units Add: Desired Ending Inventory Total units needed Less: Units of beginning finished goods Inventory Required production in units Perky Turkey Jerky, LLC Direct Materials Budget For the Quarter Ending June 30, 2018 Month Quarter Total April Required production (in units) Pounds of raw materials per unit Pounds of raw materials needed for production Add: Desired Raw Materials ending inventory Total pounds of Raw Materials needed Less: Beginning Raw Materials inventory Pounds of Raw Materials to be purchased Cost of Raw Materials per pound Cost of Raw Materials to be purchased Schedule of Expected Cash Disbursements for the Purchase of Materials Beginning Accounts Payable April purchases May purchases June purchases Perky Turkey Jerky, LLC Direct Labor Budget For the Quarter Ending June 30, 2018 Month May Quarter Total April June Required production (in units) Direct labor hour per unit Total direct labor hours needed Cost per direct labor hour Total direct labor cost Perky Turkey Jerky, LLC Manufacturing Overhead Budget For the Quarter Ending June 30, 2018 Month May Quarter Total 8 Budgeted direct labor hours 9 Variable Manufacturing Overhead rate 10 Variable Manufacturing Overhead 11 Fixed Manufacturing Overhead 12 Total Manufactuing Overhead 13 Less: Depreciation 14 Cash disbursments for manufacturing overhead 15 17 Total Manufacturing Overhead 18 Total budgeted Direct Labor hours 19 Predetermined overhead rate for the quarter 20 N31 x fx C D Perky Turkey Jerky, LLC Ending Finished Goods Inventory Budget For the Quarter Ending June 30, 2018 WN Total 5 Prodcution Cost Per Case 6 Direct Material 7 Direct Labor 8 Manufacturing Overhead 9 Unit Product Cost Quantity pounds hours hours $2.50 $18 $0.00 Cost per pound per hour per DL hour 12 Budgeted ending finished goods inventory 13 Ending finished goods inventory (in units) 14 Unit product cost 15 Dollar value of ending inventory 19 Cost of Goods Sold 20 Units sold 21 Beginning Inventory 22 Produced during the period 23 Cost of Goods Sold Perky Turkey Jerky, LLC Selling and Administrative Expenses Budget For the Quarter Ending June 30, 2018 OWN Month Quarter Total April 8 Budgeted sales 9 Variable selling and administrative expense per unit 10 Total variable selling and administrative expense 1 Fixed selling and adminstrative expenses 2 Advertising 3 Manager Salaries Insurance Depreciation on Office Equipment 6 Total fixed selling and administrative expenses 7 Total selling and administrative expenses B Less: Depreciation 9 Cash dispersements for selling and admin expenses Perky Turkey Jerky, LLC Cash Budget For the Quarter Ending lune 30, 2018 Schedule Reference April Quarter Total Beginning blance sheet 8 Beginning Cash balance 9 Add: Cash receipts 10 Cash received from customers 11 Total Cash available 12 Lessi Cash disbursements 13 Direct Materials 14 Direct labor 15 Manufacturing Overhead 16 Selling and administrative expenses 17 Equipment purchases 18 Dividends 19 Total Cash disbursements 20 Cash remaining after disbursements 21 Financing 22 Borrowings 23 Repayments 24 interest 25 Total financing 26 Ending Cash balance Direct Materials Direct Lobor Manufocuting Overhead Selling and Admin Assumptions Assumptions NM Perky Turkey Jerky, LLC Budgeted Income Statement For the Quarter Ending June 30, 2018 Sales Sales, Finished Goods 5 Sales 6 Cost of Goods Sold 7 Gross Margin 8 Selling and Administrative Expenses 9 Net Operating income 10 Interest Expense 11 Net Income Selling and Admin Cash Budget WN Perky Turkey Jerky, LLC Budgeted Balance Sheet March 31, 2018 Assets Current Assets Cash Accounts Receivable 9 Raw Materials Inventory 10 Finished Goods Inventory 11 Total Current Assets 12 Plant and Equipment 13 Equipment 14 Accumulated Depreciation 15 Plant and Equipment, Net 16 Total Assets 18 Liabilities and Stockholders' Equity 19 Liabilities 20 Accounts Payable 21 Bonds Payable 22 Stockholders'Equity 23 Common Stock 24 Retained Earnings 25 Total Stockholders'Equity 26 Total Liabilities and Stockholders' Equity Month April Moy une 15,000 Sales Budget Budgeted Sales in units Selling Price Per Unit Percentage of Sales collected in the month of the sale Percentage of Sales collected in the month after the sale 10,000 $9.00 90% 10% 12.000 $9.00 90% 15,000 $9.00 BOX 20% 10% Production Budget Percentage of next month's sales in ending finished goods invento 20% 25% 30% 2.000 units are carried over from March $2.50 $2.50 $2.50 2 Direct Materials Budget Meat per pound Pounds of meat per unit Percentage of next months production needs in ending Inventory Percentage of purchases paid in the month purchased Percentage of purchases paid in the month after purchase 2 5% 5% 75% 1,100 pounds are carried over from March 1.400 pounds should be carried over to July 75% 25% 25 Direct Labor Budget Direct labor hours required per unit (20 units per labor hour) Cost per direct labor hour 0.05 0.05 $18.00 0.05 $18.00 $18.00 Manufacturing Overhead Budget Variable manufacturing overhead per direct labor hour Fleed manufacturing overhead Manufacturing Depreciation $5.00 $15.000 $10.000 $5.00 $15,000 $10,000 $5.00 $15.000 $10,000 $0.10 $0.10 $0.10 Variable Selling and Administrative Expense Budget Sales Commissions Fixed selling and administrative expenses Advertising Manager Salaries Insurance Depreciation on Office Equipment Totalfied selling and administrative expenses $2.500 $5,000 $2.000 $500 $10,000 $2,500 $5,000 $2,000 $500 $10,000 $2,500 $5,000 $2,000 $500 $10,000 Depreciation from purchases during the period are already included 530,000 $30,000 Cash Budget Minimum cash balance Equipment Purchases Dividends Simple annual Interest rate 330.000 512.000 $3,000 Must borrow in $10,000 crements 10 year asset administrative $3,000 $3,000 2N 2N