You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company has done very little in the way of budgeting and at certain times of the year has experienced a shortage of cash. Since you are well trained in budgeting, you have decided to prepare a master budget for the upcoming second quarter. To this end, you have worked with accounting and other areas to gather the information assembled below.

I know this is a lot. I am working on it but I am so overwhelmed I will be coming back here to double check.

Complete this question by entering your answers in the tabs below. Prepare a master budget for the three-month period ending June 30 that includes a schedule of expected cash collections, by month and in total. Complete this question by entering your answers in the tabs below. Prepare a master budget for the three-month period ending June 30 that includes a schedule of expected cash disbursements for merchandise purchases, by month and in total. Complete this question by entering your answers in the tabs below. Prepare a master budget for the three-month period ending June 30 that includes a budgeted income statement for the three month period ending June 30 . Use the contribution approach. Complete this question by entering your answers in the tabs below. Prepare a master budget for the three-month period ending June 30 that includes a cash budget. Show the budget by month and in total. Determine any borrowing that would be needed to maintain the minimum cash balance of $64,000. Note: Cash deficiency, repayments and interest should be indicated by a minus sign. Complete this question by entering your answers in the tabs below. Prepare a master budget for the three-month period ending June 30 that includes a merchandise purchases budget in units and in dollars. Show the budget by month and in total. Note: Round unit cost to 2 decimal places. \begin{tabular}{|c|c|c|c|c|c|c|} \hline Req 1A & Req 1B & Req 1C & Req 1D & Req 2 & Req 3 & Req 4 \\ \hline \end{tabular} Prepare a master budget for the three-month period ending June 30 that includes a sales budget, by month and in total. \begin{tabular}{|l|l|l|l|l|} \hline \multicolumn{3}{|c|}{ Sales Budget } \\ \hline & \multicolumn{1}{|c|}{ April } & May & June & Quarter \\ \hline Budgeted unit sales & & & & \\ \hline Selling price per unit & & & & \\ \hline Total sales & & & & \\ \hline \end{tabular} You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retall outlets located in shopping malls across the country. In the past, the company has done very little in the way of budgeting and at certain times of the year has experlenced a shortage of cash. Since you are well trained in budgeting, you have decided to prepare a master budget for the upcoming second quarter. To this end, you have worked with accounting and other areas to gather the information assembled below. The company sells many styles of earrings, but all are sold for the same price $18 per pair. Actual sales of earrings for the last three months and budgeted sales for the next six months follow (In pairs of earrings): The concentration of sales before and during May is due to Mother's Day. Sufficient inventory should be on hand at the end of each month to supply 40% of the earrings sold in the following month. Suppliers are pald $5.40 for a pair of earrings. One-half of a month's purchases is paid for in the month of purchase; the other half is paid for in the following month. All sales are on credit. Only 20% of a month's sales are collected in the month of sale. An additional 70% Is collected in the following month, and the remaining 10% is collected in the second month following sale. Bad debts have been negligible. Monthly operating expenses for the company are given below: Insurance Is paid on an annual basis, in November of each year. The company plans to purchase $23,000 in new equipment during May and $54,000 in new equipment during June; both purchases will be for cash. The company declares dividends of $25,500 each quarter, payable in the first month of the following quarter