Question The following budget data relates to the operations of Hydroflask Inc. (HFT) a company that...

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Question The following budget data relates to the operations of Hydroflask Inc. (HFT) a company that specializes in the production of insulated, stainless steel water bottles. The company will begin operations on January 01.2024 The company will sell 1,000 battles a month for the first three months (Jan, Feb, March) The company will sell 1,500 bottles a month for the rest of the year (Apr-Dec) The company will sell 2.000 bottles in January 2025 at a price of $100 per bottle Each bottle will use 0.5kg of stainless steel and require two (2) direct labour hours to produce Each bottle in 2024 will sell for $100 except for all bottles sold in December, when the price will be $110 -90% of sales are paid for in cash, but 10% of sales are invoiced and are paid the following month Stainless steel is forecasted to have a price of $5.50 from January to June and $6.00 trum July to December Stainless steel is ordered and paid for on the first day of the month it is needed Direct labour is expected to cost $25.00 an hour for the entire year Direct labour is paid for in the month that the hours are worked The variable MOH rate is $5.00 per direct labour hour -The fixed MOH rate is $8,000 per month Depreciation on production equipment is $3,000 per month from Jan Dec Advertising will be $2,000 per month for the first six months (lan June) and $1,000 per month from July to December The entire advertising expense ($18,000) was paid in November. Admin salaries will be $15,000 per month for the entire year and are paid in the month they are earned Insurance is $800 paid per month for the entire year The cost of shipping the product will be 5% of the sales price The company pays a $2.00 per bottle commission to their sales people The company will pay $75,000 in dividends in the month of December The company plans on purchasing a new piece of equipment for $110,000 in January The company wants to have a cash balance of $10,000 at the end of every month -If the company borrows any money, they are subject to a 24% interest rate Interest payments are due in the month they occur, principal payments are made in December Required Prepare a full budgeted set of financial statements along with all of the schedules (10). Question The following budget data relates to the operations of Hydroflask Inc. (HFT) a company that specializes in the production of insulated, stainless steel water bottles. The company will begin operations on January 01.2024 The company will sell 1,000 battles a month for the first three months (Jan, Feb, March) The company will sell 1,500 bottles a month for the rest of the year (Apr-Dec) The company will sell 2.000 bottles in January 2025 at a price of $100 per bottle Each bottle will use 0.5kg of stainless steel and require two (2) direct labour hours to produce Each bottle in 2024 will sell for $100 except for all bottles sold in December, when the price will be $110 -90% of sales are paid for in cash, but 10% of sales are invoiced and are paid the following month Stainless steel is forecasted to have a price of $5.50 from January to June and $6.00 trum July to December Stainless steel is ordered and paid for on the first day of the month it is needed Direct labour is expected to cost $25.00 an hour for the entire year Direct labour is paid for in the month that the hours are worked The variable MOH rate is $5.00 per direct labour hour -The fixed MOH rate is $8,000 per month Depreciation on production equipment is $3,000 per month from Jan Dec Advertising will be $2,000 per month for the first six months (lan June) and $1,000 per month from July to December The entire advertising expense ($18,000) was paid in November. Admin salaries will be $15,000 per month for the entire year and are paid in the month they are earned Insurance is $800 paid per month for the entire year The cost of shipping the product will be 5% of the sales price The company pays a $2.00 per bottle commission to their sales people The company will pay $75,000 in dividends in the month of December The company plans on purchasing a new piece of equipment for $110,000 in January The company wants to have a cash balance of $10,000 at the end of every month -If the company borrows any money, they are subject to a 24% interest rate Interest payments are due in the month they occur, principal payments are made in December Required Prepare a full budgeted set of financial statements along with all of the schedules (10).