a.Construct a budgeted income statement for January. b.Construct a complete cash budget for January including borrowing and repayment on the bank line of credit. Assume the company can borrow on the first day of the month and will repay on the last day of the month. c.Construct a budgeted Statement of Retained Earnings for January. d.Construct a budgeted balance sheet as for January.

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January February March April May June July August September October November December Year Sales Dollars 1,848,000 1,932,000 2,044,000 2,156,000 2,212,000 2,240,000 2,380,000 2,492,000 2,576,000 2,800,000 3,000,000 3,000,000 28,680,000 Cash Collections (Receipts) $ 1,576,800 $ 1,762,800 $ 1,898,960 $ 2,002,840 $ 2.091.880 $ 2.145.920 $ 2,217,040 $ 2,324,000 $ 2,427,600 $ 2,562,840 $ 2,747,920 $ 2,876,000 $ 26.634,600 Production $ 63,600 $ 70,200 $ 74,200 $ 77,600 $ 79,300 $ 81,500 $ 86,200 $ 89,900 $ 94,400 $ 100.000 $ 100,000 $ 103,000 $ 1,019,900 DM used for purchases 127,200 140,400 148.400 155,200 158,600 163,000 172.400 179.800 188,800 200.000 200.000 206,000 2,039,800 Direct Materials Purchased - Dollars $ 313,200 $ 355,000 $ 374,400 $ 389.700 $ 398,700 $ 412,200 $ 434,700 $ 454,000 $ 477,600 $ 500.000 $ 503,000 $ 522,000 $ 5,134,500 Direct materials (payments $ 278,300 $ 323,650 $ 359,850 $ 378,225 $ 391,950 $ 402,075 $ 417,825 $ 439,525 $ 459,900 $ 483,200 $ 500.750 $ 507,750 $ 4.943,000 Direct Labor Costs $ 508,800 $ 561,600 $ 593,600 $ 620.800 $ 634,400 $ 652,000 $ 689,600 $ 719,200 $ 755,200 $ 800,000 $ 800,000 $ 824,000 $ 8,159,200 Direct Labor (paid) S 504,400 $ 535,200 $ 577,600 $ 607,200 $ 627,600 $ 643,200 $ 670,800 $ 704,400 $ 737,200 $ 777,600 $ 800,000 $ 812,000 $ 7,997,200 Overhead S 381,600 $ 421,200 $ 445,200 $ 465,600 $ 475,800 $ 489,000 $ 517,200 $ 539,400 $ 566,400 $ 600,000 $ 600,000 $ 618,000 $ 6.119,400 Cash Overhead Costs $ 381,600 $ 421,200 $ 445,200 $ 465,600 $ 475,800 $ 489,000 $ 517,200 $ 539,400 $ 566,400 $ 600,000 $ 600,000 $ 618,000 $ 6,119,400 Total Manufacturing Costs $ 1,208,400 $ 1,333,800 $ 1,409,800 $ 1,474,400 $ 1,506,700 $ 1,548,500 $ 1,637,800 $ 1,708,100 $ 1,793,600 $ 1,900,000 $ 1,900,000 $ 1,957,000 $ 19.378,100 Ending RM Inventory Cost $ 70,200 $ 74,200 $ 77,600 $ 79,300 $ 81,500 $ 86,200 $ 89,900 $ 94,400 $ 100,000 $ 100,000 $ 103,000 $ 110,000 110,000 $ $ 627,000 $ Ending FG Inventory - Cost $ 393,300 $ 416,100 $ 438,900 $ 450,300 $ 456,000 $ 484,500 $ 507,300 $ 524,400 $ 570,000 $ 570,000 $ 570,000 $ 627,000 Cost of Goods Sold $ 1,161,600 $ 1,311,000 $ 1,387,000 $ 1,463,000 $ 1,501,000 $ 1,520,000 $ 1,615,000 $ 1,691,000 $ 1,748,000 1,900,000 $ 1,900,000 $ 1,900,000 $ 19.097,600 January February March April May June July August September October November December Year Sales Dollars 1,848,000 1,932,000 2,044,000 2,156,000 2,212,000 2,240,000 2,380,000 2,492,000 2,576,000 2,800,000 3,000,000 3,000,000 28,680,000 Cash Collections (Receipts) $ 1,576,800 $ 1,762,800 $ 1,898,960 $ 2,002,840 $ 2.091.880 $ 2.145.920 $ 2,217,040 $ 2,324,000 $ 2,427,600 $ 2,562,840 $ 2,747,920 $ 2,876,000 $ 26.634,600 Production $ 63,600 $ 70,200 $ 74,200 $ 77,600 $ 79,300 $ 81,500 $ 86,200 $ 89,900 $ 94,400 $ 100.000 $ 100,000 $ 103,000 $ 1,019,900 DM used for purchases 127,200 140,400 148.400 155,200 158,600 163,000 172.400 179.800 188,800 200.000 200.000 206,000 2,039,800 Direct Materials Purchased - Dollars $ 313,200 $ 355,000 $ 374,400 $ 389.700 $ 398,700 $ 412,200 $ 434,700 $ 454,000 $ 477,600 $ 500.000 $ 503,000 $ 522,000 $ 5,134,500 Direct materials (payments $ 278,300 $ 323,650 $ 359,850 $ 378,225 $ 391,950 $ 402,075 $ 417,825 $ 439,525 $ 459,900 $ 483,200 $ 500.750 $ 507,750 $ 4.943,000 Direct Labor Costs $ 508,800 $ 561,600 $ 593,600 $ 620.800 $ 634,400 $ 652,000 $ 689,600 $ 719,200 $ 755,200 $ 800,000 $ 800,000 $ 824,000 $ 8,159,200 Direct Labor (paid) S 504,400 $ 535,200 $ 577,600 $ 607,200 $ 627,600 $ 643,200 $ 670,800 $ 704,400 $ 737,200 $ 777,600 $ 800,000 $ 812,000 $ 7,997,200 Overhead S 381,600 $ 421,200 $ 445,200 $ 465,600 $ 475,800 $ 489,000 $ 517,200 $ 539,400 $ 566,400 $ 600,000 $ 600,000 $ 618,000 $ 6.119,400 Cash Overhead Costs $ 381,600 $ 421,200 $ 445,200 $ 465,600 $ 475,800 $ 489,000 $ 517,200 $ 539,400 $ 566,400 $ 600,000 $ 600,000 $ 618,000 $ 6,119,400 Total Manufacturing Costs $ 1,208,400 $ 1,333,800 $ 1,409,800 $ 1,474,400 $ 1,506,700 $ 1,548,500 $ 1,637,800 $ 1,708,100 $ 1,793,600 $ 1,900,000 $ 1,900,000 $ 1,957,000 $ 19.378,100 Ending RM Inventory Cost $ 70,200 $ 74,200 $ 77,600 $ 79,300 $ 81,500 $ 86,200 $ 89,900 $ 94,400 $ 100,000 $ 100,000 $ 103,000 $ 110,000 110,000 $ $ 627,000 $ Ending FG Inventory - Cost $ 393,300 $ 416,100 $ 438,900 $ 450,300 $ 456,000 $ 484,500 $ 507,300 $ 524,400 $ 570,000 $ 570,000 $ 570,000 $ 627,000 Cost of Goods Sold $ 1,161,600 $ 1,311,000 $ 1,387,000 $ 1,463,000 $ 1,501,000 $ 1,520,000 $ 1,615,000 $ 1,691,000 $ 1,748,000 1,900,000 $ 1,900,000 $ 1,900,000 $ 19.097,600