To prepare a master budget for April, May, and June of 2017, management aL DN & Sales for March total 25.000 units. Forecasted sales in units are as follows April, 25,000 May, 17100 June, 22.300, and July 25 000 Sales of 260.000 units are forecasted for the entire year. The product's selling price is $2600 per unt and its total product cost is $21 90 per unit b. Company policy calls for a given month's ending raw materials inventory to equal 50% of the next month's matenials requirements The March 31 raw materials inventory is 4.670 units, which complies with the policy The expected June 30 ending raw materials inventory is 6.000 units Raw materials cost $20 per unit Each finished unit requires 0.50 unts of raw materials c. Company policy calls for a given month's ending finished goods inventory to equal 80% of the next month's expected unit seles The March 31 fnished goods inventory is 20,000 units, which complies with the policy d. Each finished unit requires 0.50 hours of direct labor at a rate of $16 per hour e Overhead s allocated based on direct labor hours The predetermined variable avethead rate is $4.00 per direct labor hour Depreciation of $40790 per month is treated as foxed factory overhead. Sales representalives commissions are 10% of sales and are paid in the month of the saies The sales manager's monthly salary is 55.000 9 Monthly general and administrative expenses include 521,000 administratve salanies and 0.9% monthly interest on the lang-ters nobe payable h. The compiny expects 25% of sales to be for cash and the remaining 75% on credt Recevables are collected in ful in the manth following the sple Inone are collected in the month of the sale LAl raw materials purchases are on credit, and no gayables aree from any other transactions One month's rw materials purchases are fuly pai in the next month . The minimum ending cash balance for all months is $99000 f necessary he company bonows enough cash using a short-term note to reach the minimum, Shorttem notes require an interest piyment of t5 at each month-end before any repayiment if the ending cash balance exceeds the minmum. me excess wil be applied to repying the short-term notes payable baiance Dividends of $30.000 are to be declared and paid in May 1 No cash payments for incame texes are to be made duning the second caledar quater income tax wil be aicessed at 40% in the augrter end oaid in the third calender quaner m. Equipment puichases of S150,000 are budgeted for me last gay of June P Toe hee to search 1 m. Equipment purchases of $150.000 are budgeted for the last day of June Required Prepare the folowing budgets and other financial infomation as required. All budgets and other Snancial information should be prepared for the second celendar quarter, extept as otherwye noted below (Round calculations up to the nearest whole dolle except for the amount of cash salos, which should be rounded down to the nerest whole daller) 100 pons 1 Sales budget 2. Production budget 3. Raw mateilals budget 4. Direct labor budget 5. Factory overhead budget 6 Selling eipense budget 7 General and administrative expense budget 8. Cash budget 9. Budgeted income statement for the entire second quaner inat for each month seperately 10. Budgeted balance sheet eboge ere Complate this question by antering your answers in the tebs below Required 8 Begured 9 Required 10 gned 4 Rndulred Feauired &Radred 7 Riguhid Reguired 2 Requred a ign Cash budgit dhie calants ns oan epayment omcunts if any) houid bw indicaned wth mi Celculation of Cash recaipts from custones: Aprid Mas Juse 506 808 el beted selee M fune hece to sarch Complete this question by entering your answers in the tabs bnlow. nts Required 3 Required 6 Required 10 Required S Required B Required 9 Required 1 Required 2 Required 4 Required 7 Cash budget. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign.) eSpok Pint Caculation of Cash receipts from customers: References June April May A14 600S 650 000 162 500 487 500 605 800 $ Total budgeted sales 151 450 111.150 Cash sales 25% 333 450 S 454 350 75% s Sales on csedt Total cash recelpts from customers June April May 487 500 S 487 500 S 33 450 Curent month's cash sales 151 450 111.150 162 500 Colections of receivables 598.650 S 184 900 650 000 S 5 Total cash receipts ZIGBY MANUFACTURING Cash Budget April, May, and June 2011 100 points 80,000 Bogihning cash balance Cash receipts from customers Total cash available eBook Cash payments for: Prim 215 690 Raw materials References Direct labor Variable overhead Sales commissions Salas salaries General & administrative salaries Dividands Loan interest Long-term note interest Purchases of equipment Total cash payments 215.690 Pralminary cash balance Addtional loan (loan repaymant) Ending cash balance O Type here to search Loan interest Long tem nole interest 100 Purchases of equipment points 0 215,690 Total cash payments etook Preliminary cash balance Pint Additional loan (loan repayment) References Ending cash balance Loan balance May June April Loan balance Beginning of month Additional loan (loan repayment) Loan balance-End of month Required 9 1 Budgeted balance shoet. (Round your final anes to the nearet whole dollar) DGAY MANUIF ACTURING Budgeted Balance Shoet sO0 June 30, 2017 poins Assets eBook Prit References Total current assets Equipment net Total assels Liabilities and Equity Liabiies Total curent Sablaies 1 Equipment, net Total assels Liabilities and Equity 100 Liabiies ponts eeooks Print Total current Sablties References Stackholders Equite Total Stockholders Equity Total Liabilities and Equity 1 Budgeted balance shoet. (Round your final anes to the nearet whole dollar) DGAY MANUIF ACTURING Budgeted Balance Shoet sO0 June 30, 2017 poins Assets eBook Prit References Total current assets Equipment net Total assels Liabilities and Equity Liabiies Total curent Sablaies 1 Equipment, net Total assels Liabilities and Equity 100 Liabiies ponts eeooks Print Total current Sablties References Stackholders Equite Total Stockholders Equity Total Liabilities and Equity