veneral Copy B Format Merge & Center %) The Master Budget Comprehensive summary problem Birdfeeders Unlimited makes backyard birdfeeders. The company sells the birdfeeders to home improvement stores. $15 Sales price per birdfeeder 1.5 Board feet of wood required for each birdfeeder $4 Cost per board figot (fuctual) 10% Desired ending wood inventory stated as a percentage of next month's production requirements 20% Desired ending finished goods inventory (finished birdfeeders) stated as a percentage of next month's sales $550,000 Total cost of direct materials purchases in December 45% of direct materials purchases are paid in the month of purchase 55% of direct materials purchases are paid in the month after purchase 3 4 Sales data for the company can be found on the "SALESDATA" tab. 6 7 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from 8 the Instruction tab you will be marked wrong. 19 21 20 Requirements 1 Prepare the sales budget, including a separate section that details the type of sales made (cash versus credit) for the first three months of the year, as well as a summary budget for the quarter. 2 Prepare the production budget for the first three months of the year, as well as a summary budget for 22 the quarter. a. Enter all amounts as positive values. Do NOT use parentheses or a minus sign for amounts to be 23 subtracted. INSTRUCTIONS SALESDATA ENTERANSWERS + Roady 11 12 13 $550,000 Total cost of direct materials purchases in December 45% of direct materials purchases are paid in the month of purchase 55% of direct materials purchases are paid in the month after purchase 14 15 Sales data for the company can be found on the "SALESDATA" tab. 16 17 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from 18 the Instruction tab you will be marked wrong. 19 20 Requirements 1 21 22 23 Prepare the sales budget, including a separate section that details the type of sales made (cash versus credit) for the first three months of the year, as well as a summary budget for the quarter. 2 Prepare the production budget for the first three months of the year, as well as a summary budget for the quarter. a. Enter all amounts as positive values. Do NOT use parentheses or a minus sign for amounts to be subtracted 3 Prepare the direct materials purchases budget for the first three months of the year, as well as a summary budget for the quarter. Assume the company needs 120,000 board feet of wood for production in April. a. Enter all amounts as positive values. Do NOT use parentheses or a minus sign for amounts to be subtracted b. Abbreviation used: DM = Direct materials 4 Prepare the cash collections budget for January, February, and March, as well as a summary for the first quarter 5 Prepare the cash payments budget for direct materials purchases for the months of January, February and March, as well as a summary for the first quarter. 24 25 26 27 28 29 Copy Pasto B I U Format 14 4 x fx The company's collection history indicates that: DATA SHEET DO NOT ENTER ANSWERS HERE October actual sales (prior year) - November actual sales (prior year) 5 December actual sales (prior year) January projected sales 3 February projected sales 9 March projected sales 20 April projected sales Units 92,000 85,000 78,000 80,000 90,000 95,000 105,000 80% of the total sales are credit sales 2 20% of the total sales are cash sales 13 14 The company's collection history indicates that: 15 80% of credit sales is collected in the month after the sale 10% is collected two months after the sale 12 6% is collected three months after the sale 18 4% is never collected 19 20 21 22 + 24 125 26 27 18 TRUCTION 1. Prepare the sales budget, Including a separate section that details the type of sales made (cash versus credit) for the first 1 three months of the year, as well as a summary budget for the quarter. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste vom the Instruction tab you 2 will be marked wrong.) 3 Birdfeeders Unlimited Sales Budget For the Quarter Ended March 31 Month February January March 1st Quarter S 6 7 8 9 Unit sales (birdfeeders) 10 Multiply by: Selling price per birdfeeder 11 Total sales revenue 12 Type of sale: 13 Cash sales 14 Credit sales 15 Total sales revenue 16