need help 10-12. i cant figure it out :(

Problem 7.4A (Algo) Manufacturing: Preparation of a complete master budget LO P1, P2, P3 19 prepare a master budget for Afril May, end June, manhgement gathes the iblowing intommaton. producis seling price 852400 per ueli and ts total product cont is 51255 per unc. b. Riw meseriats inventory conakts solely of direct materibs that cost 520 per pet and Censuny policy cals for a aven months anding pochiss. The budgeted June 30 onding raw meseries inventory is is,200 pounts. Cach srished unit requires o so pound of drect materiels. The Maich 3t fivithed goods incentory is 62,320 units. d. Each finhed unt requited 0.50 hour of direct labor an a rase of 515 per houe foctory overhedd heet 1. Sales commiosions of 5th of sales are paid in the month of the sales. The saies managers nonetcy 3 alary is 54.400 term note peyable. h. The company budgets 30 of sales to be for cash and the remaining 70s of cowste Cerat sales are calected in fuat in the month following the sole foc creolt sales ave cellected in the morth of saice? 1. Al tuw materists porchases are on credit and occounts poyvobie are aciely ted to raw manerais purchases. Raw menerials purchases are fuly poid in the neet month litne ane paid in the month of purchasel. 1. The minimum enoing cash balante for al months is 5152,000 . If necestary fie conowy bocoms anough cash using a loan to preliminary cash balance exceeds the minimum, the excest wil bet used to repyr ary loash 1. OWisends of \$38.000 are budpeted to be declared and paid in Mhy 1. No cash peyments for inceme tsaes are bubgoted in the second ceientar quaner hasese tar wal be assested at 35 is in the euater and budgeted to be paid in the thers calendar quarter. m. Equloment purchases of $3$0.000 aie budgesed for bee last day of sune Aequicest Preptre the following budgets for the monthr of Agrt. May. and June. 1. Sidis budpiet 2. Production budget. 2. Diect materiels bucget. 4. Dwect iabor budpet 5. Factory owerthead budget. 6. Selling eapense budget. 7 General and adiministetve expense budget 8. Schedule of cesh receipts. 2. Schedule of cash peyments for drect materiats. 10. Cash budget. 11. oudgeted income statemtnt foc entiee second quianti foot monthy. 12. Budpeted bilmoe sheet at June 30 . Complete this question by entering your answers in the tabs below. Nhreppere o manter buopet nor Apri, Myy, wo bone, management gathea the folowitg informacion budpeted unit salet, the March 31 fnshed geodi invertory is 62.390 unts. a fach botibed unt neques oso nour of drect labor at a rete of 315 fer hout. m. The prebelemminpd vwiable ovethedd rate in 5270 per dlect labor hout Oeprecaton of 576.009 ge month a the otly fond tactory oreitiedsetitem initiob. inteiest en the losg berm oote peyable. h. The compery budoets 30 iof cales to be for eash and the renaing 70 son creoc. Crede salet are coslectied ach hare *. DNistinds of 538.000 bre budgeted to be declred and peid in Miry. of 35\% in the queter asd buspeted to be pewd in the thad calendar quaner. in. Eeviphem purchates of 5380 ooo ave budpeted for the last dry af June. Aegulesd: Beppone the following budpets for the monets of Apre, Mey. enes dure: 1. sales bucpet. 2. Pioducton budot: 2. Derect naterials bedpel. 4. Dirnct watior buedpet. 5. Factory ovedteded budget. 6. Sefing expense budget. 6. General and aiminattative enparile bodget. 8. Schedule of casin recilsts. 9. Sehedule of cash pectipnta loc direct materiakt. 10. Cath buchet. 11. Audgeted incone statemect sor ertin 2. Busgited balance sheet of June 30 itheco. aty loass Arowited 1. treet butget. 1. Sres budged 2. Divet inatecus buther. 4. Drect holor busiget 5, Fudiong oventidas buape. B. Sctesile of cestirectist. 10. Cinh budgot 12. Auggetedi halsoe theet et dune 39 . Complete this Euestien by contering rour anuwers in the tabe below. Problem 7.4A (Agg) Manulacturing Preparation of a coepilete master budqet LO P2, P2. P2. The inmagrinert of Zegby Manidactaring prepered the Salowing bieacie there for March 3t. budpeced unit stes. The March 31 Fnikhed poods inveteory in 62.320 unters. 4. Each Stighed unit requines 0.50 hour of dreat inbor at o mit af 318 per hour. the orly fies foctory overtied item t Seles conimissiots of Bk of sales are paid in the morth of the saen. The sies manager monthly svary is 5+1400 - Monthy general and adrinintwive expentes inclute $45600 for administative salaries and 09 s monnly mierest on the long term note powicie. b ful in the month followng the sale poo owat saind ave colectind in the moneth or salel. any lowens 4. Oristends of 538.000 are budpeted 10 be decinse and pest in Mhy. at 35N. in the quarter ond budpeted to be pod in the thrt calengar cuarlet Aegulred: Pequired. 1. Sales budpet 2. Production budoet 1. Drect materigls bodget. 4. Disect iabor budpet 5. Factory ovemhed buspet. 6. Seling expense Budget. 7. Generai ind udministrime expense tusget. 8. Schedile of cast receiph. 2. Schedile of cast payments tor diect matross. 10. Cish budget. 12. Eudgeted bulance sheot at Juse 30 . Complete this question by entering your antwers in the tabs below. intioank. fregenest 1. the es biebout. 1. fees buspert 2youcnontudget. 4. Dirct babesi bodget 4. Githry bew tudgest 6. Aiding ewiende tuatet A. Sichenule pod cesh ieciots. to. Cesh busget. Problem 7.aA (Albo) Mandacturing Pioparation of a cenolete master bubget to ph, p. pa 4. Each fnished unt recuites 0.54 hoor of drectione at a neth of 15 per hoy. the nety here fodory overtead ere Stsabe: ieferest on the beg termade alieytole ave beink 4. Chidends of 334.000 are budjeled wo te deelared ane pad in Moy Aequired: 1. Siles becost. 2. Pries buction buoget 3. Cirece menrinh tooget 4. Gineci itsor budout, 4. Gaceisy owertadad budoot. 6. feling experise binget. a. Schedilk ar tanh permente for died mutonit. 45. cach buibes Complete thls question by enterisg your answers in the tabs below. Senny expente nucget. Problem 7.4A (Ago) Manufacturing Preparation of a complete master budget LO P1, P2, P2 The manegemeri of Zlgby Manulacturing prepered the foilewing bielase stieci for March 34 . To prepsre i imaster budget ise April, M.ry, and June, menogement gathes the following infoemition. Buly. 77900 . The product's seling price is 524,00 per unit and ies lotwl praduct cost is 570 .05 per unt B. Raw materiws ieveriabry convists solely of divect materials that cost 320 per pound Company poley calh ior a March 31 raw materiah imventory is 18715 pounds. The budgeted dune 30 ending raw malesilh invertcry ia. 15.200 pounds. Each finithed unil reculres 0.50 pound of drect materims. 4. Compeny policy calis for at gienh monthis ending finished poods inventory to equal gons of the ned month:s bodpeted unit sales. The Mareh 31 frished goods invertory is 62.320 unhts. a. Eech trished unk requies 0.50 hour of atrech labor at a tale of $15 per hour * The predptermined variable overhead eape is 52.70 per doect labor hour. Depreciation of 576,000 per somph in the orly ficed isctory owerheod item. f. Sales commissions of Bsi of seles ane poid in the month of the sales. The saies monagers monthly seary as 511.400 interest on the leng-eres note patyable. in ful in the month following the swe fno crede sales are colected in the mosth of sakel. I. Al raw materias purchases are on credt, and accounts payable ane solely fied to raw maherlas purchases, Aww mosectats purchases are fully peid in the nect morit ingne are paid hi the month of purchabel) repingmerp if the month-nd preliminary cash balance exceeds the minimum, the eacess will be used ia ritpary ary lians. 4. Dividends of $38.000 are budpeted to be declared and paid in Miry. 4. No cash payments for income taxes are Eudgeted is the stcond cWendar auanet ancome lak wil be ahsemsed at 35 s in the queder and budgeted to be pald in the hird caiendar quavter. n. Equlpment purchalses of $380,000 are budgeted for the last emy of bune. Required: Prequre the sollowing buthets for the months of Apel, May, and Zyrie: 1. Suans buspet. 2. Production budget. 3. Divect riateriats butget. 4. Direct ubor budget. 5. Factory ovechead budget. 6. Senifg expense budget. 6. Senerol mad administrative expense budget 8. Schedule of cast rocefpth. 9. Schedule of cash plyments for diroct materiats. 10. Chth Butget. 10. C.mih butget. 12. Budpeted balence shees al Juhe 30 . Complete this question by entering your answers in the fabs belaw. Crenerat and administratove expense budget. \$ithes interest on the dorgitern mate plowitile Bry lown. Beruereal 1. Sales buripet. 2. Thichucion budget. 1. Gerect mantiois tivioet 1. Eliour laber biodget. 3. Pactory orertead buepet 6. Seling eapeine buatoel. 6. Seling eapevile butget. b. Sectwitule of cuth receepet. 9. Fchedde of ewh poyenerea ky onect miminat io. East trubet 12. nuspetsd bu whet sheet at dote low. inter 1 sata Remutint 4. 5 sirt tudubet. 2. Protiction lauget. 4. biect iabor torbeck 5. fiction ove theall indipel E. Getiog copenit bucged a. Scowhare uf rant recceich 7a. Gemb Dudimer. 1. trotedule of canh reocets. 0. Fotrocule tof cabh bermants for dived materiais. to. Eaafy bualent. fie orly lend factiory ovethend tert bit,460 Wry leanh. t. Saw bindest 2. Decuct icutintion budpet. 2. Denct mutwi in budget. 5. Fectary orovered bud E. Coting espentie budget. 6. Scherdule af eash recetis. drastale the nemtest whinit ovitara) 311000 Hersiter Thekes tusige 2. Arudactiontactiot. 1. Paghaty (morked twasue 14. Cimh taiper: Problem 7-4A (Algo) Manufacturing: Preparation of a complete master budget LO P1, P2, P3 The management of Zigby Manufacturing prepared the following balance sheet for March 31. To prepare a master budget for April, May, and June, management gathers the following information. a. Sales for March total 77,900 units. Budgeted sales in units follow: Apri, 77,900: May, 74,100, June, 76,000; and July, 77,900. The product's selling price is $24.00 per unit and its total product cost is $19.85 per unit. b. Raw materials inventory consists solely of direct materials that cost $20 per pound. Compary policy calis 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 18.715 pounds. The budgeted June 30 ending raw materials inventory is 15,200 pounds. Each finished unit requires 0.50 pound of direct materials. c. 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 62.320 units. d. Each finished unit requires 0,50 hour of direct labor at a rate of $15 per hour. e. The predetermined variable overhead rate is $2.70 per direct labor hout. Depreciation of $76,000 per month is the only fixed factory overhead item. f. Sales commissions of 8% of sales are paid in the month of the sales. The sales manager's monthly salary is $11,400. g. Monthly general and administrative expenses include $45.600 for administrative salaries and 0.9% monthly interest on the longterm note payable. h. 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) t. All row 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). j. The minimum ending cash balance for all months is $152,000. If necessary, the company borrows enough cash using a loan to reach the minimum. Loans require an interest payment of 15 at each monthend (before any repayment). If the month-end preliminary cash balance exceeds the minimum. the excess will be used to repay any loans. k. Dividends of $38.000 are budgeted to be declared and paid in May. k. Dividends of $38.000 are budgeted to be declared and paid in May. 1. 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. j. The minimum ending cash balance for all months is $152,000. 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. k. Dividends of $38,000 are budgeted to be declared and paid in May. I. 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. m. Equipment purchases of $380,000 are budgeted for the last day of June. Required: Prepare the following budgets for the months of April, May, and June: 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 . Complete this question by entering your answers in the tabs below. 8. Schedule of cash recelpts. 9. Schedule of cash payments for direct materials. 10. Cash budget. 10. Cash budget. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign.) x Aurignmets 203/sp BUS-15: x M Quetion 1-Mster fudget Aro: x+ Budget Problem i Complete this question by entering your answers in the tabs below. Budgeted income statement for entire second quarter (not monthly). (Round your final answers to the nearest whol Complete this question by entering your answers in the tabs below. Budgeted balance sheet at June 30. (Round your final answers to the nearest whole dollar.) Problem 7.4A (Algo) Manufacturing: Preparation of a complete master budget LO P1, P2, P3 19 prepare a master budget for Afril May, end June, manhgement gathes the iblowing intommaton. producis seling price 852400 per ueli and ts total product cont is 51255 per unc. b. Riw meseriats inventory conakts solely of direct materibs that cost 520 per pet and Censuny policy cals for a aven months anding pochiss. The budgeted June 30 onding raw meseries inventory is is,200 pounts. Cach srished unit requires o so pound of drect materiels. The Maich 3t fivithed goods incentory is 62,320 units. d. Each finhed unt requited 0.50 hour of direct labor an a rase of 515 per houe foctory overhedd heet 1. Sales commiosions of 5th of sales are paid in the month of the sales. The saies managers nonetcy 3 alary is 54.400 term note peyable. h. The company budgets 30 of sales to be for cash and the remaining 70s of cowste Cerat sales are calected in fuat in the month following the sole foc creolt sales ave cellected in the morth of saice? 1. Al tuw materists porchases are on credit and occounts poyvobie are aciely ted to raw manerais purchases. Raw menerials purchases are fuly poid in the neet month litne ane paid in the month of purchasel. 1. The minimum enoing cash balante for al months is 5152,000 . If necestary fie conowy bocoms anough cash using a loan to preliminary cash balance exceeds the minimum, the excest wil bet used to repyr ary loash 1. OWisends of \$38.000 are budpeted to be declared and paid in Mhy 1. No cash peyments for inceme tsaes are bubgoted in the second ceientar quaner hasese tar wal be assested at 35 is in the euater and budgeted to be paid in the thers calendar quarter. m. Equloment purchases of $3$0.000 aie budgesed for bee last day of sune Aequicest Preptre the following budgets for the monthr of Agrt. May. and June. 1. Sidis budpiet 2. Production budget. 2. Diect materiels bucget. 4. Dwect iabor budpet 5. Factory owerthead budget. 6. Selling eapense budget. 7 General and adiministetve expense budget 8. Schedule of cesh receipts. 2. Schedule of cash peyments for drect materiats. 10. Cash budget. 11. oudgeted income statemtnt foc entiee second quianti foot monthy. 12. Budpeted bilmoe sheet at June 30 . Complete this question by entering your answers in the tabs below. Nhreppere o manter buopet nor Apri, Myy, wo bone, management gathea the folowitg informacion budpeted unit salet, the March 31 fnshed geodi invertory is 62.390 unts. a fach botibed unt neques oso nour of drect labor at a rete of 315 fer hout. m. The prebelemminpd vwiable ovethedd rate in 5270 per dlect labor hout Oeprecaton of 576.009 ge month a the otly fond tactory oreitiedsetitem initiob. inteiest en the losg berm oote peyable. h. The compery budoets 30 iof cales to be for eash and the renaing 70 son creoc. Crede salet are coslectied ach hare *. DNistinds of 538.000 bre budgeted to be declred and peid in Miry. of 35\% in the queter asd buspeted to be pewd in the thad calendar quaner. in. Eeviphem purchates of 5380 ooo ave budpeted for the last dry af June. Aegulesd: Beppone the following budpets for the monets of Apre, Mey. enes dure: 1. sales bucpet. 2. Pioducton budot: 2. Derect naterials bedpel. 4. Dirnct watior buedpet. 5. Factory ovedteded budget. 6. Sefing expense budget. 6. General and aiminattative enparile bodget. 8. Schedule of casin recilsts. 9. Sehedule of cash pectipnta loc direct materiakt. 10. Cath buchet. 11. Audgeted incone statemect sor ertin 2. Busgited balance sheet of June 30 itheco. aty loass Arowited 1. treet butget. 1. Sres budged 2. Divet inatecus buther. 4. Drect holor busiget 5, Fudiong oventidas buape. B. Sctesile of cestirectist. 10. Cinh budgot 12. Auggetedi halsoe theet et dune 39 . Complete this Euestien by contering rour anuwers in the tabe below. Problem 7.4A (Agg) Manulacturing Preparation of a coepilete master budqet LO P2, P2. P2. The inmagrinert of Zegby Manidactaring prepered the Salowing bieacie there for March 3t. budpeced unit stes. The March 31 Fnikhed poods inveteory in 62.320 unters. 4. Each Stighed unit requines 0.50 hour of dreat inbor at o mit af 318 per hour. the orly fies foctory overtied item t Seles conimissiots of Bk of sales are paid in the morth of the saen. The sies manager monthly svary is 5+1400 - Monthy general and adrinintwive expentes inclute $45600 for administative salaries and 09 s monnly mierest on the long term note powicie. b ful in the month followng the sale poo owat saind ave colectind in the moneth or salel. any lowens 4. Oristends of 538.000 are budpeted 10 be decinse and pest in Mhy. at 35N. in the quarter ond budpeted to be pod in the thrt calengar cuarlet Aegulred: Pequired. 1. Sales budpet 2. Production budoet 1. Drect materigls bodget. 4. Disect iabor budpet 5. Factory ovemhed buspet. 6. Seling expense Budget. 7. Generai ind udministrime expense tusget. 8. Schedile of cast receiph. 2. Schedile of cast payments tor diect matross. 10. Cish budget. 12. Eudgeted bulance sheot at Juse 30 . Complete this question by entering your antwers in the tabs below. intioank. fregenest 1. the es biebout. 1. fees buspert 2youcnontudget. 4. Dirct babesi bodget 4. Githry bew tudgest 6. Aiding ewiende tuatet A. Sichenule pod cesh ieciots. to. Cesh busget. Problem 7.aA (Albo) Mandacturing Pioparation of a cenolete master bubget to ph, p. pa 4. Each fnished unt recuites 0.54 hoor of drectione at a neth of 15 per hoy. the nety here fodory overtead ere Stsabe: ieferest on the beg termade alieytole ave beink 4. Chidends of 334.000 are budjeled wo te deelared ane pad in Moy Aequired: 1. Siles becost. 2. Pries buction buoget 3. Cirece menrinh tooget 4. Gineci itsor budout, 4. Gaceisy owertadad budoot. 6. feling experise binget. a. Schedilk ar tanh permente for died mutonit. 45. cach buibes Complete thls question by enterisg your answers in the tabs below. Senny expente nucget. Problem 7.4A (Ago) Manufacturing Preparation of a complete master budget LO P1, P2, P2 The manegemeri of Zlgby Manulacturing prepered the foilewing bielase stieci for March 34 . To prepsre i imaster budget ise April, M.ry, and June, menogement gathes the following infoemition. Buly. 77900 . The product's seling price is 524,00 per unit and ies lotwl praduct cost is 570 .05 per unt B. Raw materiws ieveriabry convists solely of divect materials that cost 320 per pound Company poley calh ior a March 31 raw materiah imventory is 18715 pounds. The budgeted dune 30 ending raw malesilh invertcry ia. 15.200 pounds. Each finithed unil reculres 0.50 pound of drect materims. 4. Compeny policy calis for at gienh monthis ending finished poods inventory to equal gons of the ned month:s bodpeted unit sales. The Mareh 31 frished goods invertory is 62.320 unhts. a. Eech trished unk requies 0.50 hour of atrech labor at a tale of $15 per hour * The predptermined variable overhead eape is 52.70 per doect labor hour. Depreciation of 576,000 per somph in the orly ficed isctory owerheod item. f. Sales commissions of Bsi of seles ane poid in the month of the sales. The saies monagers monthly seary as 511.400 interest on the leng-eres note patyable. in ful in the month following the swe fno crede sales are colected in the mosth of sakel. I. Al raw materias purchases are on credt, and accounts payable ane solely fied to raw maherlas purchases, Aww mosectats purchases are fully peid in the nect morit ingne are paid hi the month of purchabel) repingmerp if the month-nd preliminary cash balance exceeds the minimum, the eacess will be used ia ritpary ary lians. 4. Dividends of $38.000 are budpeted to be declared and paid in Miry. 4. No cash payments for income taxes are Eudgeted is the stcond cWendar auanet ancome lak wil be ahsemsed at 35 s in the queder and budgeted to be pald in the hird caiendar quavter. n. Equlpment purchalses of $380,000 are budgeted for the last emy of bune. Required: Prequre the sollowing buthets for the months of Apel, May, and Zyrie: 1. Suans buspet. 2. Production budget. 3. Divect riateriats butget. 4. Direct ubor budget. 5. Factory ovechead budget. 6. Senifg expense budget. 6. Senerol mad administrative expense budget 8. Schedule of cast rocefpth. 9. Schedule of cash plyments for diroct materiats. 10. Chth Butget. 10. C.mih butget. 12. Budpeted balence shees al Juhe 30 . Complete this question by entering your answers in the fabs belaw. Crenerat and administratove expense budget. \$ithes interest on the dorgitern mate plowitile Bry lown. Beruereal 1. Sales buripet. 2. Thichucion budget. 1. Gerect mantiois tivioet 1. Eliour laber biodget. 3. Pactory orertead buepet 6. Seling eapeine buatoel. 6. Seling eapevile butget. b. Sectwitule of cuth receepet. 9. Fchedde of ewh poyenerea ky onect miminat io. East trubet 12. nuspetsd bu whet sheet at dote low. inter 1 sata Remutint 4. 5 sirt tudubet. 2. Protiction lauget. 4. biect iabor torbeck 5. fiction ove theall indipel E. Getiog copenit bucged a. Scowhare uf rant recceich 7a. Gemb Dudimer. 1. trotedule of canh reocets. 0. Fotrocule tof cabh bermants for dived materiais. to. Eaafy bualent. fie orly lend factiory ovethend tert bit,460 Wry leanh. t. Saw bindest 2. Decuct icutintion budpet. 2. Denct mutwi in budget. 5. Fectary orovered bud E. Coting espentie budget. 6. Scherdule af eash recetis. drastale the nemtest whinit ovitara) 311000 Hersiter Thekes tusige 2. Arudactiontactiot. 1. Paghaty (morked twasue 14. Cimh taiper: Problem 7-4A (Algo) Manufacturing: Preparation of a complete master budget LO P1, P2, P3 The management of Zigby Manufacturing prepared the following balance sheet for March 31. To prepare a master budget for April, May, and June, management gathers the following information. a. Sales for March total 77,900 units. Budgeted sales in units follow: Apri, 77,900: May, 74,100, June, 76,000; and July, 77,900. The product's selling price is $24.00 per unit and its total product cost is $19.85 per unit. b. Raw materials inventory consists solely of direct materials that cost $20 per pound. Compary policy calis 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 18.715 pounds. The budgeted June 30 ending raw materials inventory is 15,200 pounds. Each finished unit requires 0.50 pound of direct materials. c. 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 62.320 units. d. Each finished unit requires 0,50 hour of direct labor at a rate of $15 per hour. e. The predetermined variable overhead rate is $2.70 per direct labor hout. Depreciation of $76,000 per month is the only fixed factory overhead item. f. Sales commissions of 8% of sales are paid in the month of the sales. The sales manager's monthly salary is $11,400. g. Monthly general and administrative expenses include $45.600 for administrative salaries and 0.9% monthly interest on the longterm note payable. h. 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) t. All row 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). j. The minimum ending cash balance for all months is $152,000. If necessary, the company borrows enough cash using a loan to reach the minimum. Loans require an interest payment of 15 at each monthend (before any repayment). If the month-end preliminary cash balance exceeds the minimum. the excess will be used to repay any loans. k. Dividends of $38.000 are budgeted to be declared and paid in May. k. Dividends of $38.000 are budgeted to be declared and paid in May. 1. 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. j. The minimum ending cash balance for all months is $152,000. 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. k. Dividends of $38,000 are budgeted to be declared and paid in May. I. 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. m. Equipment purchases of $380,000 are budgeted for the last day of June. Required: Prepare the following budgets for the months of April, May, and June: 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 . Complete this question by entering your answers in the tabs below. 8. Schedule of cash recelpts. 9. Schedule of cash payments for direct materials. 10. Cash budget. 10. Cash budget. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign.) x Aurignmets 203/sp BUS-15: x M Quetion 1-Mster fudget Aro: x+ Budget Problem i Complete this question by entering your answers in the tabs below. Budgeted income statement for entire second quarter (not monthly). (Round your final answers to the nearest whol Complete this question by entering your answers in the tabs below. Budgeted balance sheet at June 30. (Round your final answers to the nearest whole dollar.)