Question: please help it is due Problem 7-4A (Algo) Manufacturing: Preparation of a complete master budget LO P1, P2, P3 The management of Zigby Manufacturing prepared

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 ZGOV MANUFACTURING Balance Sheet March 31 Assets Liabilities and Equity Cash $ 53,000 abilities Accounts receivable 150,900 Accounts payable Roll materials inventory 96,500 Loan payable Finished goods inventory 313.920 Longtern note payable Equipment $ 626,000 Equity Less: Accumulated depreciation 16.000 463.000 Common stock retained earnings Total assets S1ZZA5.00 Total abilities and equity To prepare a master budget for April, May, and June, management gathers the following information $ 204, 25.000 500.000 729,800 140,000 199 200 54,700 51277.500 o. Sales for March total 21,800 units Budgeted sales in units follow. April, 21,800, May 18,700, June, 21,000, and July, 21.800 The product's selling price is $23.00 per unit and its total product cost is $18.00 per unit b. Raw materials inventory consists solely of direct materials that cost $20 per pound Company policy calls 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 4,830 pounds. The budgeted June 30 ending raw materials inventory is 5,300 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 unt sales The March 31 finished goods inventory is 17:440 units d. Each finished unit requires 050 hour of direct laborat a rate of $9 per hour e. The predetermined variable overhead rate is $400 per direct labor hour. Depreciation of 530 750 per month is the only the factory overhead Item t. Sales commissions of 8% of sales are paid in the month of the sales The sales managers monthly salary $4.300 g. Monthly general and administrative expenses include $25.000 for administrative salaries and 0.7 monthly interest on the long term note payable h. The company budgets 30% of sales to be for cash and the remaining 70% on credit credit sales are collected in fuit in the month
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