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Thunder Creek wants to finish each month with 20% of next month's sales in units. Prepare a production budget. (When entering answers in the production budget, use the sales budget for your cell references. Enter all values as positive--without a minus sign--in row 18.) Hint: Beginning inventory for the period is equal to the ending inventory of the previous period. Thunder Creek Company uses 2 pounds of direct materials for each unit it produces, at a cost of $4.00 per pound. The company begins the year with 9,500 pounds of material in Raw Materials Inventory. Management desires an ending inventory of 25% of next month's materials requirements Prepare a Direct Materials Budget. (When entering answers in the direct materials budget, use the production budget for your cell references. Enter all values as positive--without a minus sign--in row 31 . In cell F31 use a cell reference. Do not type in the amount or you will be marked wrong.) Thunder Creek Company prepares its Manufacturing Overhead Budget. For each direct labor hour, the variable overhead costs are: Indirect Materials =$1.00 per DLH; Indirect Labor Cost =$1.30 per DLH; Maintenance =$1.20 per DLH The Fixed Overhead Costs per month are: Salaries of $40,000, Depreciation =$20,000 and Maintenance =$10,000. Prepare a Manufacturing Overhead Budget. (When entering answers in the manufacturing overhead budget, use the direct labor budget for your cell references.) Use '=ROUND' function to round the predetermined overhead allocation rate to two decimal places. Manufacturing overhead is allocated using direct labor hours. hunder Creek Company uses the first-in, first-out (FIFO) inventory costing method. he Beginning Finished Goods Inventory is $86,400 consisting of 3,600 units. Begin by calculating the projected cost to produce each unit in 2018 based on projected sales. (Hint: In "Cost per unit" table, cell references come from Direct Materials, Direct Labor, and Manufacturing Overhead budgets.) Use '=ROUND' function to round the fixed manufacturing overhead cost per unit to two decimal places. Prepare a Cost of Goods Sold Budget. (Hint: Units per month calculated using cell references to both sales budget and production budget. In cell F78 use a rell reference Mn not tvene in the amount or volu will he marked wernno ) hunder Creek Company's variable supplies expense per month is $3.00 per unit. The fixed selling and administrative expenses per month consist of Salaries: $245,000; dvertising: \$30,000; and Depreciation: $28,000 Prepare a Selling and Administrative Expense Budget. (When entering answers in the selling and administrative budget, use the sales budget for your cell references.)