Homework Chapter $9$ Graded $-$ Due $11/20/24$

Computer Accessories Inc. assembles a computer networking device from kits of imported components. You have been asked to develop a quarterly and annual operating budget and pro forma income statements for next year. You have obtained the following information:

$\backslash$table$[[$Beginning$-$of$-$year balances$],[$Cash$,$$$75,000,,,],[$Accounts receivable $($previous quarter's sales$),$$$245,000,,,],[$Raw materials,$(350,$kits,,$],[$Finished goods,$1,500,$kits,,$],[$Accounts payable $($materials$),$$$125,000,,,],[$Borrowed funds,$$30,000,,,],[$Desired end$-$of$-$year inventory balances$],[$Raw materials,$1,000,$kits,,$],[$Finished goods,$1,600,$kits,,$],[$Desired end$-$of$-$quarter balances$],[$Cash$,$$$30,000,,,],[$Raw materials as a portion of the following quarter's production,$0\mathrm{.}20,,,],[$Finished goods as a portion of the following quarter's sales,$0\mathrm{.}30,,,],[$Manufacturing costs$],[$Standard cost per unit,Units,Unit price,Total,$],[$Direct labor hours at rate,$0\mathrm{.}50$ hour,$$30\mathrm{.}00,$$$15\mathrm{.}00,],[$Raw materials,$1$ kit,$$75\mathrm{.}00,75\mathrm{.}00,],[$Variable overhead$/$labor hour,$0\mathrm{.}50$ hour,$$5\mathrm{.}00,2\mathrm{.}50,],[$Total standard variable cost,,,$$92\mathrm{.}50,],[$Fixed cost per quarter$],[$Cash$,$$$110,00$

$\backslash$table$[[$Variable overhead$/$labor hour,$0\mathrm{.}50$ hour,$$5\mathrm{.}00,2\mathrm{.}50,(],[$Total standard variable cost,,,$$92\mathrm{.}50,],[$Fixed cost per quarter$],[$Cash$,$$$110,000,,,],[$Depreciation$,15,000,,,],[$Total$,$$$125,000,,,],[$Selling and administrative costs,$$8\mathrm{.}00,,,],[$Variable cost per unit$],[$Fixed costs per quarter$],[$Cash$,$$$150,000,,,],[$Depreciation$,7,500,,,],[$Total$,$$$157,500,,,],[$Interest rate per quarter,$0\mathrm{.}015,,,],[$Portion of sales collected$],[$Quarter of sale,$0\mathrm{.}70,,,],[$Subsequent quarter,$0\mathrm{.}29,,,],[$Bad debts,$0\mathrm{.}01,,,],[$Portion of purchases paid$],[$Quarter of purchase,$0\mathrm{.}60,,,],[$Subsequent quarter,$0\mathrm{.}40,,,],[$Unit selling price,$$225,,,],[$Sales forecast$],[$Quarter$,$First,Second,Third,Fourth$],[$Unit sales,$4,400,4,600,4,500,4,800]]$

Additional information

All cash payments except purchases are made quarterly as incurred.

Electric Monkey Computer Accessories Cash Budget

For the Year Ending December $31$

$\backslash$table$[[,$First,Second,Third,,Fourth,Total$],[$Beginning balance,$$,75000,,$$$,,$x$,$$$,,$x$,$$$,,$x$,$$$,,0,,,],[$Depreciation$,15,000,,,],[$Total$,$$$125,000,,,$