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Waterways Corporation is preparing its budget for the coming year, 2 0 2 2 . The first step is to plan for the first quarter
Waterways Corporation is preparing its budget for the coming year, The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in preparation of the budgeting process.Weterway Cerporition is preparirgits budget for the coning year, The frst step is to plan fer the first cuarter of that comins receivitieon Decenber LL toteled $ Dizert Matedils Direct Laber Leber recuires minetes per vait for completion and hald at a rate of $ per hour. Selling and Adnhistrutive Other informatian Seso, toulonert surchane is planned lor February. WATERWAYS CORPORATION Sales Budget First Quarter Sales Unit sales for November Unit sales for December Expected unit sales for January Expected unit sales for February Expected unit sales for March Expected unit sales for April Expected unit sales for May Unit selling price Waterways likes to keep of the next month's unit sales in ending inventory. All sales are on account. of the Accounts Receivable are collected in the month of sale, and of the Accounts Receivable are collected in the month after sale. Accounts receivable on December totaled $ Direct Materials Direct materials cost cents per pound. Two pounds of direct materials are required to produce each unit. Waterways likes to keep of the materials needed for the next month in its ending inventory, Raw Materials on December totaled pounds. Payment for materials is made within days. is paid in the month of purchase, and is paid in the month after purchase. Accounts Payable on December totaled $ Direct Labor Labor requires minutes per unit for completion and is paid at a rate of $ per hour. Manufacturing Overhead Indirect materials per labor hour Indirect labor c per labor hour Utilities per labor hour Maintenance per labor hour Salaries $ per month Depreciation $ per month Property taxes $ per month Insurance $ per month Maintenance $ per month Selling and Administrative Variable selling and administrative cost per unit is $ Advertising Insurance Salaries Depreciation Other fixed costs Other Information $ a month $ a month $ a month $ a month $ a month The Cash balance on December totaled $ but management has decided it would like to maintain a cash balance of at least $ beginning on January Dividends are paid each month at the rate of $ per share for shares outstanding The company has an open line of credit with Romney's Bank. The terms of the agreement requires borrowing to be in $ increments at interest. Waterways borrows on the first day of the month and repays on the last day of the month. A $ equipment purchase is planned for February For the first quarter of prepare a direct labor budget. Round time per unit to nearest hour, eg minutes will be rounded to hours Units to be Produced Total Materials Required Total Direct Labor Cost Beginning Materials Inventory Direct Labor Cost Per Hour Total Required Direct Labor Hours Direct Materials Purchases WATERWAYS CORPORATION Direct Labor Budget First Quarter January February March $ Direct Labor Time Hours Por Unit Desired Ending Inventory Cost Per Pound Direct Materials Per Unit Total Cost of Direct Materials Purchases Total Pounds Required for Production Attempts of used Submit Anwer January WATERWAYS CORPORATION Sales Budget For the First Quarter of First Quarter February $ $ Expected Unit Sales Unit Selling Price $ Total Sales $ WATERWAYS CORPORATION Production Budget For the First Quarter of March Firs January February March Quarter Expected Unit Sales Add V Desired Ending Finished Goods Unit Total Required Units Less V Beginning Finished Goods Unit i Required Production Units WATERWAYS CORPORATION Direct Materials Budget For the First Quarter of First arter January February March Units to be produced Direct Materials Per Unit Total Pounds Required for Production Add Desired Ending Inventory Total Materials Required Less Beginning Materials Inventory i i Direct Materials Purchases $ Cost Per Pound $ $ Total Cost of Direct Materials Purchases $ $ Quarter Quarter
Waterways Corporation is preparing its budget for the coming year, The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in preparation of the budgeting process.Weterway Cerporition is preparirgits budget for the coning year, The frst step is to plan fer the first cuarter of that comins
receivitieon Decenber LL toteled $
Dizert Matedils
Direct Laber
Leber recuires minetes per vait for completion and hald at a rate of $ per hour.
Selling and Adnhistrutive
Other informatian
Seso, toulonert surchane is planned lor February.
WATERWAYS CORPORATION
Sales Budget
First Quarter
Sales
Unit sales for November
Unit sales for December
Expected unit sales for January
Expected unit sales for February Expected unit sales for March
Expected unit sales for April
Expected unit sales for May
Unit selling price
Waterways likes to keep of the next month's unit sales in ending inventory. All sales are on account. of the Accounts Receivable are collected in the month of sale, and of the Accounts Receivable are collected in the month after sale. Accounts receivable on December totaled $
Direct Materials
Direct materials cost cents per pound. Two pounds of direct materials are required to produce each unit.
Waterways likes to keep of the materials needed for the next month in its ending inventory, Raw Materials on December totaled pounds. Payment for materials is made within days. is paid in the month of purchase, and is paid in the month after purchase. Accounts Payable on December totaled $
Direct Labor
Labor requires minutes per unit for completion and is paid at a rate of $ per hour.
Manufacturing Overhead
Indirect materials
per labor hour
Indirect labor
c
per labor hour
Utilities
per labor hour
Maintenance
per labor hour
Salaries
$
per month
Depreciation
$
per month
Property taxes
$
per month
Insurance
$
per month
Maintenance
$
per month
Selling and Administrative
Variable selling and administrative cost per unit is $
Advertising
Insurance
Salaries
Depreciation
Other fixed costs
Other Information
$ a month
$ a month
$ a month
$ a month
$ a month
The Cash balance on December totaled $ but management has decided it would like to maintain a cash balance of at least $ beginning on January Dividends are paid each month at the rate of $ per share for shares outstanding The company has an open line of credit with Romney's Bank. The terms of the agreement requires borrowing to be in $ increments at interest. Waterways borrows on the first day of the month and repays on the last day of the month. A $ equipment purchase is planned for February
For the first quarter of prepare a direct labor budget. Round time per unit to nearest hour, eg minutes will be rounded to hours
Units to be Produced
Total Materials Required
Total Direct Labor Cost
Beginning Materials Inventory
Direct Labor Cost Per Hour
Total Required Direct Labor Hours
Direct Materials Purchases
WATERWAYS CORPORATION
Direct Labor Budget
First Quarter
January
February
March
$
Direct Labor Time Hours Por Unit
Desired Ending Inventory
Cost Per Pound
Direct Materials Per Unit
Total Cost of Direct Materials Purchases
Total Pounds Required for Production
Attempts of used Submit Anwer
January
WATERWAYS CORPORATION
Sales Budget
For the First Quarter of
First Quarter
February
$
$
Expected Unit Sales
Unit Selling Price
$
Total Sales
$
WATERWAYS CORPORATION Production Budget
For the First Quarter of
March
Firs
January
February
March
Quarter
Expected Unit Sales
Add V
Desired Ending Finished Goods Unit
Total Required Units
Less V
Beginning Finished Goods Unit
i
Required Production Units
WATERWAYS CORPORATION Direct Materials Budget For the First Quarter of
First arter
January
February
March
Units to be produced
Direct Materials Per Unit
Total Pounds Required for Production
Add
Desired Ending Inventory
Total Materials Required
Less
Beginning Materials Inventory
i
i
Direct Materials Purchases
$
Cost Per Pound
$
$
Total Cost of Direct Materials Purchases
$
$
Quarter
Quarter
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