You have been asked to review the information of Dexter Corp. and prepare elements of the master budget for the year ending December 2013.

Given:

A) Balance Sheet:

Dexter Corp Balance Sheet December 31, 2012
ASSETS	LIABILITIES AND EQUITIES
Current Assets:		Current Liabilities:
Cash.............................................................	$ 76,153	Accounts payable.........................	$ 23,451
Accounts receivable..................................	26,000
Inventory: Direct Materials (1,600 kg @ $5)...........	8,000	Equity:
Finished Goods (4,600 @ $5.818).........	26,764	Contributed capital......................	151,746
	136,917	Retained earnings........................	171,720
Capital Assets:		Total equity..................................	323,466
Manufacturing property & equipment..	320,000
Less: accumulated amortization.............	110,000
	210,000
Total Assets................................................	$ 346,917	Total Liabilities and Equity.........	$ 346,917

B) The units are expected to be sold for $12.50 with the following volumes:

December 2012	22,000
January 2013	23,000
February 2013	23,500
March 2013	40,000
April 2013	42,000
May 2013	40,000

C) Variable manufacturing costs:

	Quantity	Cost	Cost per Unit
Direct materials (DM)	0.4	kg	$ 5.00	per kg	$ 2.00
Direct labour (DL)	0.2	hours	$ 15.00	per hour	$ 3.00
Manufacturing Overhead (MOH) (applied on DLH)	0.2	hours	$ 8.00	per hour	$ 1.60

D) Total fixed manufacturing costs per unit:

Estimated annual fixed manufacturing overhead $ 180,000

Includes annual depreciation of $ 24,000

Applied based on direct labour hours (DLH)

E) Desired minimum inventories:

Direct materials	15%	of next month's production needs
Finished goods	20%	of next month's sales in units

F) Selling & administrative costs:

Variable:

Sales commissions: 4% of sales if sales are > $300,000

2% of sales if sales are < or = $300,000

Fixed:

$30,000 monthly, including amortization of $5,000

G) Collection of sales:

All sales are on account and are expected to be collected 45% in the month of sale and 55% in the month following the sale.

H) Payment of direct material purchases:

All direct material purchases are on account, and payments are:

65% in the month of purchase

35% in the month following the purchase

All other operating expenses are paid in the month incurred (budgeted)

I) Minimum cash balance required is: $30,000

Interest is calculated at an annual rate of: 12%

Required(please show notes to support some calculations):

Note: all shaded cells onall schedules are there 'just in case' you require them to calculate any necessary numbers - you may not need to fill in each shaded box on each schedule.

need the following

sales budet

CASH COLLECTIONS SCHEDULE

3. PRODUCTION BUDGET

4. DIRECT MATERIALS BUDGET

5. CASH DISBURSEMENTS SCHEDULE\

6.DIRECT LABOUR BUDGET

7. MANUFACTURING OVERHEAD BUDGET for JANUARY only

8. SELLING AND ADMINISTRATIVE BUDGET for JANUARY only

9. CASH BUDGET for JANUARY only

Thank you in advance.

Please show the calculation and the explanation. Excel is preferable.