Instructions ACC 3020-Fall 2021 Facts Student Solution Excel Case - Master Budget for: Wayne Corporation Enter your name: Enter your WSU Access ID The facts for this problem are presented on the Facts tab of this workbook Instructions - our solutions should be clearly labeled on the Solutions tab of this workbook. For the first quarter of 2022, do the following. (a) Prepare a sales budget. This is similar to Mastration 22-3 in your textbook (b) Prepare a production budget. This is similar to astration 22-3 in your textbook (c) Prepare a direct materials budget. (Round to nearest dollar) This is similar to Mustration 22-9 in your textbook (d) Prepare a direct labor budget. (For calculations, round to the nearest hour.) This is similar to Illustration 22-11 in your textbook (e) Prepare a manufacturing overhead budget. (Round intermediate amounts to the nearest dollar.) This is similar to (1) Prepare a selling and administrative budget. This is similar to lastration 22-11 in your sextbook station 22-12 in your textbook (g) Prepare a budgeted income statement. (Round intermediate calculations to the nearest dollar) This is similar to Illustration 22-15 in your book (h) Prepare a cash budget. This is similar to Iltration 22-19 in your textbook. You will need to prepare schedules for expected collections from customers and expected payments to vendors first. See Mastrations 22-17 and 22-18 in your textbook for guidance You will also need to prepare schedules to support your calculation of amounts borrowed, intered expense, and loan repayments. These should be well labeled and formatted so that I may follow your work. Rules: Paints are lost for not following these rules Use Excels functionality to your benefit. Use formulas *Use proper formats for schedules, following the referenced textbook examples (including titles) *Use correct number formats (5%, general) and underscoring where appropriate Double-check your work! Verify your formulas and logic! Grading Guidelines: Effective Use of Excel Facts, Logic Completeness Spelling, Punctuation, Cell Value Format Statement Format Percent Points 50% 37.5 10% 75 25% 18.75 15% 11.25 Caution: Students found to have copied work from or shared work with a peer will receive a zero for this assignment and be referred to the Dean of Students for Academic Discipline. December 2021 January 2022 February 2022 March, 2022 April 2002 May, 2022 U selling price A P Planned Enter your User ID in Pred Pla so c Finished Goods Inventory Planning The company likes to keep 15% of the next quarter's unit sales in finished goods ending inventory Accounts Receivable & Collections Sales on Account Month of Sale Month after Sale Materials Inventory Costs & Planning Direct Material Ingredien Amp Cat The company likes to krep 12% of the mural needed for the production in a materials ending investory Accounts Payable & Disurements Parch on Accou Payment Activity Month after Purchase 12/31/21 Direct Labor & Costs Time per Unit Productive Pay Rate Manufacturing Overhead C Uslities Maintenance Salaries Depreciation Property taxes Insurance Janitorial Selling and Administrative Cent Variable costs per unit old Food c per Advertising Depreciation 130,000 845 025 42.000 36 2675 1200 1,300 15.000 14,000 Other fixed costs Income Taxes Accrued on Monthly Net Income Amounts Accrued Q4 2021 2022 200,000 Cash and Financing Matters Cash Balance, 12/31/2021 2022 Minimum Balance Required Outstanding Shar Line of Credi Bowing Increment Required Al Additional Item Fixed Asset Pancha Mouth Fitof pordha The facts for this problem are presented on the Facts tab of this workbook. Instructions-Your solutions should be clearly labeled on the Solutions tab of this workbook. For the first quarter of 2022, do the following. (a) Prepare a sales budget. This is similar to Illustration 22-3 in your textbook (b) Prepare a production budget. This is similar to Illustration 22-5 in your textbook (c) Prepare a direct materials budget. (Round to nearest dollar) This is similar to Illustration 22-9 in your textbook (d) Prepare a direct labor budget. (For calculations, round to the nearest hour.) This is similar to Illustration 22-11 in your textbook (e) Prepare a manufacturing overhead budget. (Round intermediate amounts to the nearest dollar.) This is similar to Illustration 22-12 in your textbook (f) Prepare a selling and administrative budget. This is similar to Illustration 22-11 in your textbook (g) Prepare a budgeted income statement. (Round intermediate calculations to the nearest dollar) This is similar to Illustration 22-15 in your textbook (h) Prepare a cash budget. This is similar to Illustration 22-19 in your textbook You will need to prepare schedules for expected collections from customers and expected payments to vendors first. See Illustrations 22-17 and 22-18 in your textbook for guidance You will also need to prepare schedules to support your calculation of amounts borrowed, interest expense, and loan repayments. These should be well labeled and formatted so that I may follow your work Rules: Points are lost for not following these rules Use Excel's functionality to your benefit. Use formulas Use proper formats for schedules, following the referenced textbook examples (including titles). Use correct number formats (5%, general) and underscoring where appropriate Double-check your work! Verify your formulas and logic! Grading Guidelines Effective Use of Excel Facts, Logic Completeness Spelling. Punctuation, Cell Value Format, Statement Format Percent Points 50% 37.5 10% 7.5 25% 18.75 15% 11.25 Caution: Students found to have copied work from or shared work with a peer will receive a zero for this assignment and be referred to the Dean of Students for Academic Discipline