This is a 7 part Question

Instructions:

(All answers should be entered in the blue highlighted cells.)

MASTER BUDGETS Using Excel to prenare an operating budget (manufacturing comnanv) Thunder Creek wants to finish each month with 20% of next month's sales in units. Hint: Beginning inventory for the period is equal to the ending inventory of the previous period. Thunder Creek Company uses 2 pounds of direct materials for each unit it produces, at a cost of $4.00 per pound. The company begins the year with 9,500 pounds of material in Raw Materials Inventory. Management desires an ending inventory of 25% of next month's materials requirements Prepare a Direct Materials Budget. (When entering answers in the direct materials budget, use the production budget for your cell references. Enter all values as positive--withou Thunder Creek Company's workers require 30 minutes of labor to produce each unit of product. The labor cost is $20 per hour Prepare a Direct Labor Budget. (When entering answers in the direct labor budget, use the direct materials budget for your cell references.) \begin{tabular}{|l|l|l|l|l|l|} \hline 38 & \multicolumn{2}{|c|}{2018} \\ \hline 39 & Budget \#4: Direct Labor Budget & \multicolumn{1}{|c|}{ Meb } & Mar & Q1 Total \\ & Budgeted units to be produced & Jan & & \\ \hline 41 & Direct labor hours per unit & & & \\ 42 & Direct labor hours needed for production & & \\ 43 & Direct labor cost per hour & & & \\ \hline 44 & Budgeted direct labor cost & & & \\ \hline \end{tabular} Thunder Creek Company prepares its Manufacturing Overhead Budget. For each direct labor hour, the variable overhead costs are: 46 Indirect Materials = $1.00 per DLH; Indirect Labor Cost =$1.30 per DLH; Maintenance =$1.20 per DLH 47 The Fixed Overhead Costs per month are: Salaries of $40,000, Depreciation =$20,000 and Maintenance =$10,000. 48 Prepare a Manufacturing Overhead Budget. (When entering answers in the manufacturing overhead budget, use the direct labor budget for your cell references.) Use '=ROUND' function to round the predetermined overhead allocation rate to two decimal places. Manufacturing overhead is allocated using direct labor hours. Budget \#5: Manufacturing Overhead Budget Budgeted units to be produced VOH cost per unit Budgeted VOH Budgeted FOH Depreciation Salaries and maintenance Total budgeted FOH Budgeted manufacturing overhead costs Direct labor hours (DLHr) Predetermined overhead allocation rate per DLHr Thunder Creek Company uses the first-in, first-out (FIFO) inventory costing method. The Beginning Finished Goods Inventory is $86,400 consisting of 3,600 units. Use '=ROUND' function to round the fixed manufacturing overhead cost per unit to two decimal places. Prepare a Cost of Goods Sold Budget. (Hint: Units per month calculated using cell references to both sales budget and production budget.) Direct material cost per unit Direct labor cost per unit Manufacturing overhead cost per unit Total projected manufacturing cost per unit \begin{tabular}{|l|} \hline Cost per unit \\ \hline \\ \hline \\ \hline \\ \hline \end{tabular} Thunder Creek Company's variable supplies expense per month is $3.00 per unit. The fixed selling and administrative expenses per month consist of Salaries: 85$245,000; Advertising: $30,000; and Depreciation: $28,000 86 Prepare a Selling and Administrative Expense Budget. (When entering answers in the selling and administrative budget, use the sales budget for your cell references. Budget \#7: Selling and Administrative Expense Budget Salaries expense Advertising expense Depreciation expense Supplies expense Total budgeted S\&A expense \begin{tabular}{|l|l|l|l|} \hline Jan & Feb & Mar & Q1 Total \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular}