Instructions

Use the given information to create a Given Data Worksheet in the provided Master Budget Excel file.

For the first quarter of $2024$ prepare the following budgets or schedules

using the appropriate supplied worksheet.

a$.$ Prepare a sales budget.

b$.$ Prepare a schedule of cash collections from customers $($round totals to nearest dollar$).$

c$.$ Prepare a production budget.

d$.$ Prepare a direct materials budget $($round to nearest dollar$).$

e$.$ Prepare a schedule of cash disbursement for inventory purchases. $($round totals to nearest dollar$).$

f$.$ Prepare a direct labor budget $($For calculations, round to the nearest hour.$)$

g$.$ Prepare a manufacturing overhead budget. $($round amounts to the nearest dollar.

h$.$ Prepare a selling and administrative budget.

i$.$ Prepare a cash budget.

j$.$ Prepare a budgeted income statement.

k$.$ Prepare a budgeted balance sheet.

Each worksheet should only contain cell references or formulas for ANY number except ZEROES.

Students are allowed to manually input zeroes $(0)$ s and time for interest.

Where appropriate, schedules or budgets should reference the budget or schedule that "feeds"

the information to it$.$ For example, the Production Budget should get the Required Sales Units

from the Sales Budget instead of getting it from the Given Data Worksheet.

You need to round your calculations of raw materials per unit, direct labor per unit and

manufacturing overhead per unit to two $(2)$ decimal places. $($hint: your total product cost per unit equals $$3\mathrm{.}96)$

Check Figures:

Ending Cash as of $\frac{3}{31}\frac{?}{2024}-$ $$1,455,744$

Ending Raw Materials as of $\frac{3}{31}\frac{?}{2024}-$ $$9,469($rounded to $0$ decimal places$)$

Net Income $-$ $$1,915,802$

Total Assets as of $\frac{3}{31}\frac{?}{2024}-$ $$3,365,613$

Please solve.