please please please help! this is done in excel and i am completely lost!!

my october isnt adding up to the check figure and i am unsure how to finish this part!

Natsu Dragneel manufactures one kind of scarf. These scarves are white with black stripes. Each scarf sells for $17 and requires: - Raw Materials are $8 per linear foot of fabric and each scarf requires 0.5 linear foot of direct materials - 30 minutes of labor hours to manufacture the scarf (Labor cost is \$16.00 per hour) Natsu Corp. has the following inventory policies: - Ending finished goods inventory should be 70% of next month's sales. Ending finished goods as of September 30th are 16,800 scarves. - Ending inventory of raw materials should be 20% of next month's production need. Ending raw materials inventory as of September 30th is 4,375 linear feet of material and the budgeted raw materials inventory is 1,980 linear feet of material. As per the Marketing and Sales department of the Natsu Corp., sales are high in the 2 months before winter weather occurs. Therefore, months of October and November are considered high demand months. In an August budget meeting of the current year, the Sales Manager provided following estimates of unit sales for the upcoming months (October current year-January next year): SeptemberOctoberNovemberDecemberJanuary20,000scarves21,000scarves19,000scarves20,000scarves24,000scarves Variable manufacturing overhead is incurred at a rate of $2.70 per direct labor hour. Annual fixed manufacturing overhead is estimated to be $240,000 ( $20,000 per month). 240,000 scarves are anticipated to be produced each year. Fixed selling and administrative expenses are estimated at $12,500 per month and variable selling and administrative expenses are sales commissions and are estimated at 10% of sales. These commissions are paid in the same month of the sale. Of its sales each month, 30% of sales are cash sales and are collected in the month of the sale and 70% credit sales which are collected in the month following the sale. Of the purchase of raw materials, all are made on credit and paid in the month following the purehase. Also, all other operating costs are paid during the month ineured. During December, Natsu plans to pay $100,000 for a piece of equipment to replace an old equipment. Natsu had 540,000 eash on hand on September 1. The company has a policy to maintain a monthly minimum cash balance of $40,000. The company may borrow any amount using the credit line provided by their bank to pay for deficits and maintain the minimum required balance of cash. Borrowings or any part of the borrowings may be paid off in the month there is excess cash avallable (Ignore interest on borrowings). Requirements: 1. Using the information provided above prepare the following budgets for the fourth quarter of the year (October - December) for Natsu Corporation. Include each month and quarter 4 (October - December) total for each budget. a. Sales budget b. Production budget c. Raw Materials budget - check figure for October =$50,760 d. Manufacturing Overheads budget e. Budgeted Cost of Goods Sold (COGS) f. Selling and administrative expenses budget 2. Prepare Natsu's budgeted income statement for quarter 4 (Oetober - December). 3. Prepare the following for Natsu for quarter 4: a. Budgeted cash receipts/collection each month (including quarter 4 total) b. Budgeted cash payments each month (including quarter 4 total) c. Cash budget of Natsu for quarter 4 . 4. After completing requirements 13 above revise the budget spreadsheet in a new worksheet to include following changes (you can copy and paste the current spreadsheet in a new worksheet to incorporate following changes): Natsu Corp. is contemplating to increase the selling price of the Searves by 10% during the high sales months of October and November. The management of Natsu believes that it would affect unit sales marginally only, thereby, reducing unit sales by 5% in those two months. How would these two changes affect the net income of Quarter 4? What is net income from the original data and net income on the revised date? What is the difference in net income between the original data and the revised data? Based on the analysis, should Natsu Corp. increase the price of scarves temporarily during those high demand months? Include a short explanation in Exeel file itself. (You need to revise your Excel spreadsheet to determine the effect on income statement. If you used your formulas correctly for requirements 1-3, you will not need to make whole lot of changes to your spreadshoet). Froduction Eudeet 34 3 Bud. Froduction (thurite) 36 Row Maretiah required per acar finer ties) 41 fow Mararlais Can per fout CheckfaureOctoberPotalPurthane250,760 Check finure October Total Purchane * $50,760 98 Bud. Cash payment towards DL cost 99 Budgeted MOH costs 100 Budgeted S\&A Erpenses 101 Budgeted Capital Expenditure 102 Budgeted Total Cash Payments 103 104 105 108 Less: Budgeted Cash Payments 109 Preliminary Cash Balance 111 Barrowinas and Repoyments: 112 Borrowing 113 Repayment of Principal 114 Ending Cash Balance Natsu Dragneel manufactures one kind of scarf. These scarves are white with black stripes. Each scarf sells for $17 and requires: - Raw Materials are $8 per linear foot of fabric and each scarf requires 0.5 linear foot of direct materials - 30 minutes of labor hours to manufacture the scarf (Labor cost is \$16.00 per hour) Natsu Corp. has the following inventory policies: - Ending finished goods inventory should be 70% of next month's sales. Ending finished goods as of September 30th are 16,800 scarves. - Ending inventory of raw materials should be 20% of next month's production need. Ending raw materials inventory as of September 30th is 4,375 linear feet of material and the budgeted raw materials inventory is 1,980 linear feet of material. As per the Marketing and Sales department of the Natsu Corp., sales are high in the 2 months before winter weather occurs. Therefore, months of October and November are considered high demand months. In an August budget meeting of the current year, the Sales Manager provided following estimates of unit sales for the upcoming months (October current year-January next year): SeptemberOctoberNovemberDecemberJanuary20,000scarves21,000scarves19,000scarves20,000scarves24,000scarves Variable manufacturing overhead is incurred at a rate of $2.70 per direct labor hour. Annual fixed manufacturing overhead is estimated to be $240,000 ( $20,000 per month). 240,000 scarves are anticipated to be produced each year. Fixed selling and administrative expenses are estimated at $12,500 per month and variable selling and administrative expenses are sales commissions and are estimated at 10% of sales. These commissions are paid in the same month of the sale. Of its sales each month, 30% of sales are cash sales and are collected in the month of the sale and 70% credit sales which are collected in the month following the sale. Of the purchase of raw materials, all are made on credit and paid in the month following the purehase. Also, all other operating costs are paid during the month ineured. During December, Natsu plans to pay $100,000 for a piece of equipment to replace an old equipment. Natsu had 540,000 eash on hand on September 1. The company has a policy to maintain a monthly minimum cash balance of $40,000. The company may borrow any amount using the credit line provided by their bank to pay for deficits and maintain the minimum required balance of cash. Borrowings or any part of the borrowings may be paid off in the month there is excess cash avallable (Ignore interest on borrowings). Requirements: 1. Using the information provided above prepare the following budgets for the fourth quarter of the year (October - December) for Natsu Corporation. Include each month and quarter 4 (October - December) total for each budget. a. Sales budget b. Production budget c. Raw Materials budget - check figure for October =$50,760 d. Manufacturing Overheads budget e. Budgeted Cost of Goods Sold (COGS) f. Selling and administrative expenses budget 2. Prepare Natsu's budgeted income statement for quarter 4 (Oetober - December). 3. Prepare the following for Natsu for quarter 4: a. Budgeted cash receipts/collection each month (including quarter 4 total) b. Budgeted cash payments each month (including quarter 4 total) c. Cash budget of Natsu for quarter 4 . 4. After completing requirements 13 above revise the budget spreadsheet in a new worksheet to include following changes (you can copy and paste the current spreadsheet in a new worksheet to incorporate following changes): Natsu Corp. is contemplating to increase the selling price of the Searves by 10% during the high sales months of October and November. The management of Natsu believes that it would affect unit sales marginally only, thereby, reducing unit sales by 5% in those two months. How would these two changes affect the net income of Quarter 4? What is net income from the original data and net income on the revised date? What is the difference in net income between the original data and the revised data? Based on the analysis, should Natsu Corp. increase the price of scarves temporarily during those high demand months? Include a short explanation in Exeel file itself. (You need to revise your Excel spreadsheet to determine the effect on income statement. If you used your formulas correctly for requirements 1-3, you will not need to make whole lot of changes to your spreadshoet). Froduction Eudeet 34 3 Bud. Froduction (thurite) 36 Row Maretiah required per acar finer ties) 41 fow Mararlais Can per fout CheckfaureOctoberPotalPurthane250,760 Check finure October Total Purchane * $50,760 98 Bud. Cash payment towards DL cost 99 Budgeted MOH costs 100 Budgeted S\&A Erpenses 101 Budgeted Capital Expenditure 102 Budgeted Total Cash Payments 103 104 105 108 Less: Budgeted Cash Payments 109 Preliminary Cash Balance 111 Barrowinas and Repoyments: 112 Borrowing 113 Repayment of Principal 114 Ending Cash Balance