Question: Module 5_ Master Budgets XL Company is preparing its master budget for 2018. Relevant data pertaining to its sales, production, and direct materials budgets are

Module 5_ Master Budgets

XL Company is preparing its master budget for 2018. Relevant data pertaining to its sales, production, and direct materials budgets are as follows:

Sales: Sales for the first quarter is 2400 units then it will increase by 5% in quarter 2, 10% from quarter 2 to 3, and 15 %from quarter 3 to 4. The sales price is expected to be $40 per unit for the first three quarters and $50 per unit in the fourth quarter. Sales in quarter 1 of 2019 is expected to be 2,640 units

Production: Management desires to maintain ending finished goods inventories at 25% of next quarters budgeted sales volume.

Labor: Hourly wages is $10, and it required 3 hours to produce 1 unit

Requirement:

Prepare, Sales budget, Production budget and direct labor budget for the year using excel sheet.

*** I want a clear and full answer. thanks a lot***

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