Good afternoon. Can I get help with completing a master budget?

The management of Zigby Manufacturing prepared the following balance sheet for March 31. ZIGEY MANUFACTURING Balance Sheet March 31 Assets Liabilities and Equity Cash $ 128,880 Liabilities Accounts receivable 1,182,882 Accounts payable % 643,200 Raw materials inventory 315,200 Loan payable 12,000 Finished goods inventory 1,841,728 Long-term note payable 1,508,088 $ 2,255,200 Equipment $ 1,920,082 Equity Less: Accumulated depreciation 488,888 1,448,000 Common stock 1,872,000 _ PRetained earnings _ B99%,888 2 1,771,888 Total assets $ 4,827,888 Total lisbilities and equity $ 4,827,008 To prepare a master budget for April, May, and June, management gathers the following information. b . Sales for March total 65,600 units. Budgeted sales in units follow: April, 65,600; May, 62,400; June, 64,000; and July, 65,600. The product's selling price is $24.00 per unit and its total product cost is $19.85 per unit. . Raw materials inventory consists solely of direct materials that cost $20 per pound. Company policy calls for a given month's ending materials inventory to equal 50% of the next month's direct materials requirements. The March 31 raw materials inventory is 15,760 pounds. The budgeted June 30 ending raw materials inventory is 12,800 pounds. Each finished unit requires 0.50 pound of direct materials. . Company policy calls for a given month's ending finished goods inventory to equal 80% of the next month's budgeted unit sales. The March 31 finished goods inventory is 52,480 units. . Each finished unit requires 0.50 hour of direct labor at a rate of $15 per hour. . The predetermined variable overhead rate is $270 per direct labor hour. Depreciation of $64,000 per month is the only fixed factory overhead item. Sales commissions of 8% of sales are paid in the month of the sales. The sales manager's monthly salary is $9,600. . Monthly general and administrative expenses include $38,400 for administrative salaries and 0.9% monthly interest on the long- term note payable. . The company budgets 30% of sales to be for cash and the remaining 70% on credit. Credit sales are collected in full in the month following the sale (no credit sales are collected in the month of sale). . All raw materials purchases are on credit, and accounts payable are solely tied to raw materials purchases. Raw materials purchases are fully paid in the next month (none are paid in the month of purchase). . The minimum ending cash balance for all months is $128,000. If necessary, the company borrows enough cash using a loan to reach the minimum. Loans require an interest payment of 1% at each month-end (before any repayment). If the month-end preliminary cash balance exceeds the minimum, the excess will be used to repay any loans. . Dividends of $32,000 are budgeted to be declared and paid in May. . No cash payments for income taxes are budgeted in the second calendar quarter. Income tax will be assessed at 35% in the quarter and budgeted to be paid in the third calendar quarter. . Equipment purchases of $320,000 are budgeted for the last day of June. Required: 1. Sales budget. 2. Production budget. 3. Direct materials budget. 4. Direct labor budget. 5. Factory overhead budget. 6. Selling expense budget. 7. General and administrative expense budget. 8. Schedule of cash receipts. 9. Schedule of cash payments for direct materials.. 10. Cash budget. 11. Budgeted income statement for entire second quarter (not monthly). 12. Budgeted balance sheet at June 30.Sales budget. Budgeted sales units Selling price per unit Total budgeted sales Production budget. ZIGBY MANUFACTURING Production Budget April May June Total Budgeted sales units Next period budgeted sales units 62,400 64,000 65,600 Ratio of inventory to future sales 80% 80% 80% Desired ending inventory units Total required units Units to produceLz 9 v a9 u o u N | Direct materials budget. Mote: Round per unit values to 2 decimal places. Units to produce Materials needed for production (pounds) Total materials required (pounds) Materials to purchase (pounds) Materials cost per pound Cost of direct materials purchases Direct labor budget. Mote: Round per unit values to 2 decimal places. Cost of direct labor 0 9w n __u . n u o 1 Factory overhead budget. Mote: Round variable overhead rate values to 2 decimal places. Wariable overhead rate per direct labor hour _ _ Budgeted variable overhead Budgeted fixed overhead Budgeted total factory overhead \f\fBudgeted income statement for entire second quarter (not monthly). Mote: Round your final answers to the nearest whole dollar. Budgeted balance sheet at June 30. Mote: Round your final answers to the nearest whele dollar. Total Liabilities and Equity _