Use the data provided to do the manufacturing overhead expense budget. The format is provided for the manufacturing overhead expense budget. just plug in the numbers.

Thermium, inc, is preporing its budget for the coming year, 2023, The first step is to plan for the first quarter of that coming vear, The compony has gathered information from its managers in preparation of the budgeting process. Thermium likes to keep 10% of the next month's unit sales in ending irwentory. All sales are on account. 80% of the Accounts Recelvable are collected in the month of sale, and 20% of the Accounts Receivable are collected in the month after sale. Accounts receivable on December 31,2022 , totaled $180,000 Thermium likes to heep B\% of the materials needed for the next month in its ending inventory. Raw Materials on December 31.2022, totaled 34,050 pounds. Payment for materials is paid 75% in the month of parchase, and 25% is pald in the month after puirchase. Accounts Payable on December 31, 2022, totaled $25,000. Thermium thes to keep bx of the materials needed for the next month in is ending imventory. Raw Materialt on December 31, 2022, totaled 34,050 pounds. Payment for materials is paid 75% in the month of purchase, and 25% is paid in the month after purchase. Accounts Payable on Decernter 31,2002 , totaled $25,000. other information The Cash balance on December 31,2022, totaled $100,000, but the Bark requires Thermium to maintain an end of month cash balance of at least $700,000 beginning on January 31,2023. Dividends are paid each month at the rate of $3,00 per share for 5,000 shares outsanding. The company has an open line of credit with Calypas Bank. The terms of the agreement requires borrowing to be in 51,000 increments at 124 interest. Thermium borrows on the first day of the borrowing month and repays on the las: day of the repayment month. Instructions Schedule 5: This information is pulled from the data. In some cased the costs are a \% of sales or units produced. Your dota will be different. Once we determined the Manufocturing Overheod Budget then we can divide the total Manufocturing Overhead Budget cost by the total Direct Lobor hours to get the Overheod Rote per Direct Lobor Hour. important Note - When you get to the Cash Flow schedule #9-remember that Depreciation is a non-cash expense. For example, let's say you buy a car for $330,000 for cash and you expect to use it for 10 years and it will be worth Zero $ at the time. You have $3,000 per year in depreciation. Since you already paid for the car, the depreciotion does result in a cash poyment of $3,000. 5. For the first auarter of 2m treoare a manufacturine overhead exoense budnet. Thermium, inc, is preporing its budget for the coming year, 2023, The first step is to plan for the first quarter of that coming vear, The compony has gathered information from its managers in preparation of the budgeting process. Thermium likes to keep 10% of the next month's unit sales in ending irwentory. All sales are on account. 80% of the Accounts Recelvable are collected in the month of sale, and 20% of the Accounts Receivable are collected in the month after sale. Accounts receivable on December 31,2022 , totaled $180,000 Thermium likes to heep B\% of the materials needed for the next month in its ending inventory. Raw Materials on December 31.2022, totaled 34,050 pounds. Payment for materials is paid 75% in the month of parchase, and 25% is pald in the month after puirchase. Accounts Payable on December 31, 2022, totaled $25,000. Thermium thes to keep bx of the materials needed for the next month in is ending imventory. Raw Materialt on December 31, 2022, totaled 34,050 pounds. Payment for materials is paid 75% in the month of purchase, and 25% is paid in the month after purchase. Accounts Payable on Decernter 31,2002 , totaled $25,000. other information The Cash balance on December 31,2022, totaled $100,000, but the Bark requires Thermium to maintain an end of month cash balance of at least $700,000 beginning on January 31,2023. Dividends are paid each month at the rate of $3,00 per share for 5,000 shares outsanding. The company has an open line of credit with Calypas Bank. The terms of the agreement requires borrowing to be in 51,000 increments at 124 interest. Thermium borrows on the first day of the borrowing month and repays on the las: day of the repayment month. Instructions Schedule 5: This information is pulled from the data. In some cased the costs are a \% of sales or units produced. Your dota will be different. Once we determined the Manufocturing Overheod Budget then we can divide the total Manufocturing Overhead Budget cost by the total Direct Lobor hours to get the Overheod Rote per Direct Lobor Hour. important Note - When you get to the Cash Flow schedule #9-remember that Depreciation is a non-cash expense. For example, let's say you buy a car for $330,000 for cash and you expect to use it for 10 years and it will be worth Zero $ at the time. You have $3,000 per year in depreciation. Since you already paid for the car, the depreciotion does result in a cash poyment of $3,000. 5. For the first auarter of 2m treoare a manufacturine overhead exoense budnet