Additional information you will need for Production Budget: Additional information you will need for Selling and Admin Expense $($or Operating Expense$)$ Budget:

Selling expenses include sales commissions of $11\%$ of sales revenue and sales salaries of $$26240$ per quarter.

Administrative expenses include office building depreciation of $$3500$ per quarter and office salaries of $$69400$ per quarter.

$\backslash$table$[[\backslash$table$[[($Enter your company name here$)],[$Selling and Admin Expense Budget$]]],[,1$st Qtr$,2$nd Qtr$,3$rd Qtr$,4$th Qtr$,$YEAR$],[$Selling expenses:$],[$Sales commissions$],[$Sales salaries$],[$Total selling expense$],[,,,,,],[$Administrative expenses:$],[$Depreciation expense $-$ office bldg$],[$Office salaries$],[$Total Administrative expenses$],[,,,,,],[$Total Selling and Admin Expenses$],[$Less: Non$-$cash Expenses$],[$Total Cash Payments for Selling & Admin$],[,,,,,],[,,,,,],[\{$

$\backslash$table$[[($Enter your company name here$)],[$Budgeted Income Statement$]]\}],[],[,1$st Qtr$,2$nd Qtr$,3$rd Qtr$,4$th Qtr$,$YEAR$],[$Sales Revenue$],[$Less: Cost of goods sold$],[$Gross Profit $($or Gross Margin$)],[$Selling and Admin Expenses$],[$Net Income,,,,,$]]$ Additional information you will need for Schedule of Cash Payments for Purchases:

All direct material purchases are made on credit and budgeted purchases are provided below. Cash payments for purchases are

made $50\%$ in the same quarter as the purchase and $50\%$ will be paid in the quarter after the purchase. Outstanding accounts

payable as of Jan $1$ is $$25660$ and will be paid in the first quarter. SHOW ALL CALCULATIONS CLEARLY.

$($Enter your company name here$)$

Schedule of Cash Payments for Purchases Additional information you will need for the Cash Budget:

The beginning cash balance on January $1$ is expected to be $$36200.$ Remember to use the information calculated in the Selling and Admin Expense budget, Schedule of Cash Receipts, and Schedule of Cash Payments for Purchases.

$($Enter your company name here$)$

$\backslash$table$[[$Cash Budget$],[,1$st Qtr$,2$nd Qtr$,3$rd Qtr$,4$th Qtr$,$YEAR$],[$Beginning Cash Balance,,,,,$],[$Add: Cash Collections from Customers,,,,,$],[$Total Cash Available,,,,,$],[,,,,,],[$Less Cash Payments:,,,,,$],[$Cash payments for direct material purch.,,,,,$],[$Cash payments for selling and admin.,,,,,$],[$Total Cash Payments,,,,,$],[,,,,,],[$Ending Cash Balance,,,,,$$0]]$

Company policy is to maintain $15\%$ of next quarter's sales units in finished goods inventory. First

quarter's beginning finished goods inventory is estimated at $2001$ units. Fourth quarter's ending

finished goods inventory is estimated at $2273$ units.

Units to be produced

Additional information you will need for Cost of Goods Sold Budget:

For cost of goods sold, the production costs include direct materials $($ $$28$ per unit$),$ direct labor $($ $$17$ per unit$),$ and

overhead $($applied at $180\%$ of direct labor$).$