pls solve it fast and it is only one question

Knockoffs Unlimited, a nationwide distributor of low-cost imitation designer necklaces, has an exclusive franchise on the distribution of the necklaces, and sales have giown so rapidly over the past few years that it has become necessary to add new members to the management team. To dote, the company's budgeting practices have been inferior, and at times the company has experienced a cash shortage You have been given responsiblity for all planning and budgeting. Your first assignment is to prepare a master budget for the next three months, starting Aptil 1. You are eager to make a favourable impression on the president and have assembled the information below. The necklaces are sold to retalers for $10 each. Recent and forecast sales in units are as follows. The large buildup in sales before and during May is due to Mother's Day, Ending inventories should be equal to 40% of the next month's sales in units The necklaces cost the company $4 each. Purchases are paid for as follows: 50% in the month of purchase and the remaining 50% in the following month Al sales ore on credit, with no discount, and payable within 15 days. The company has found, however, that only 20% of a month's soles are collected by month-end. An additional 70% is collected in the folowing month, and the remaining 10% is collected in the second month following sale. Bad debts have been negligible. The company's monthly selling and odministrative expenses are given below. All seling and administrative expenses are paid during the month, in cath, with the exception of depreciotion and insurance. Insurance is paid on an onmul basis, in November of each yeat. The company plans to purchase $20.800 in new equipment during May and $52,000 in new equipment durng June, both purchases will be paid in cash. The compony declares dividends of $17,400 eoch quarter, payoble in the first month of the following quarter. The compony's balance sheet at March 31 is given below: is paid on an annual basis, in November of each year. The company plans to purchase $20,800 in new equipment during May and $52,000 in new equipment during June; both purchases will be paid in cash. The company declares dividends of $17,400 each quarter, payable in the first month of the following quarter. The company's balance sheet at March 31 is given belowr The company wants a minimum ending cash balance each month of $50,000. All borrowing is done at the beginning of the month, with any repayments made at the end of the month. The interest rate on these loans is 1% per month and must be paid at the end of each month based on the outstanding loan balance for that month Required: 1. Prepare a master budget for the three-month period ending June 30 . Include the following detalled budgets: a. A sales budget by month and in total. b. A schedule of expected cash collections from sales, by month and in total. c. A merchandise purchases budget in units and in dollars. Show the budget by month and in total. d. A schedule of expected cash disbursements for merchandise purchases, by month and in total. 2. A cash budget Show the budget by month and in total. (Round your intermediate calculations and final enswers to the nearest whole dollar. Also, round down your interest calculations to the next whole dollar amount. Cash deficiency, repayments and interest should be indicated by o minus sign. Do not leave any empty spoces; input a 0 wherever it is required.) 3. A budgeted income ttstement for she threemonth ptriod enaing dunt 30 . Wte the vanisble costing approsch 4. A budgeted beisnce sheet os of June 30 . Knockoffs Unlimited, a nationwide disuibutor of low.cost imitation designer necklaces, has an exclusive franchise on the distribution of the necklaces, and sales have grown so ropidly over the past few years that it has become necessary to add new members to the management team. To date, the company's budgeting practices have been inferior, and at times the company has expenenced a cash shortage. You have been given responsibility for all planning and budgeting. Your first assignment is to prepare a moster budget for the next three months, starting April 1 You are eager to make a favourable impression on the president and have assembled the information below. The neckloces are sold to retallers for $10 each. Recent and forecast sales in units are as follows: The large bulldup in sales before and duning May is due to Mother's Day. Ending inventortes should be equal ro 40% of the next month's sales in units The necklaces cost the company $4 each. Purchases are pald for as follows: 50% in the month of purchase and the remaining 50% in the following month All sales are on credit, with no discount, and payable within 15 days. The company has found, however, that only 20% of a month's sales are collected by monthend. An additional 70% is collected in the following month, and the remaining 10% is collected in the second month following sale. Bad debts have been negingible. The company's monthly seiling and admintstrative expenses are given beiow: All selling and administrative expenses are pald during the month, in cash, with the exception of depreciation and insurance, insurance. is paid on an annual basis, in November of each year. The company plans to purchase $20,600in new equipment during Moy and 552,000 in new equipment during June, both purchsses wil be paid in cash. The company declates dividends of $17,400 each quarte, payobie in the first month of the followng quartec The company's balance sheet at March 31 is given below The large buildup in sales before and during May is due to Mother's Day, Ending inventorles should be equal to 40% of the next month's sales in units The neckiaces cost the company $4 each. Purchases are paid for as follows: 50% in the month of purchase and the remaining 50% in the following month. All sales are on credit, with no discount, and payable within 15 days. The company has found. however, that only 20% of a month's sales are collected by month-end. An additional 70% is collected in the following month, and the remaining 10% is collected in the second month following sale. Bad debts have been negigible The company's monthly selling and administrative expenses are given below: All selung and administrative expenses are pald during the month, in cash, with the exception of depreciation and insurance. Insurance is pald on an annual basis, in November of each yeat. The company plans to purchase $20.800 in new equipment during May and $52.000 in new equipment during June; both purchases will be pald in cash. The company declares dividends of $17.400 each quarter, payable in the first month of the following quarter. The company's balance sheet at March 31 is given below: The company wants a minimum ending cash baiance each month of $50.000. All borrowing is done at the beginning of the month, with any repayments made ot the end of the month. The interest rate on these loans is 15 per month and must be. pald of the end of each month bosed on the outstanding loan balance for thot month Required: 1. Prepare a master budget for the threemonth penod ending June 30 . include the followng detalled budgets: 6. A sales bueget by month and in total. Knockoffs Unlimited, a nationwide distributor of low-cost imitation designer necklaces, has an exclusive franchise on the distribution of the necklaces, and sales have giown so rapidly over the past few years that it has become necessary to add new members to the management team. To dote, the company's budgeting practices have been inferior, and at times the company has experienced a cash shortage You have been given responsiblity for all planning and budgeting. Your first assignment is to prepare a master budget for the next three months, starting Aptil 1. You are eager to make a favourable impression on the president and have assembled the information below. The necklaces are sold to retalers for $10 each. Recent and forecast sales in units are as follows. The large buildup in sales before and during May is due to Mother's Day, Ending inventories should be equal to 40% of the next month's sales in units The necklaces cost the company $4 each. Purchases are paid for as follows: 50% in the month of purchase and the remaining 50% in the following month Al sales ore on credit, with no discount, and payable within 15 days. The company has found, however, that only 20% of a month's soles are collected by month-end. An additional 70% is collected in the folowing month, and the remaining 10% is collected in the second month following sale. Bad debts have been negligible. The company's monthly selling and odministrative expenses are given below. All seling and administrative expenses are paid during the month, in cath, with the exception of depreciotion and insurance. Insurance is paid on an onmul basis, in November of each yeat. The company plans to purchase $20.800 in new equipment during May and $52,000 in new equipment durng June, both purchases will be paid in cash. The compony declares dividends of $17,400 eoch quarter, payoble in the first month of the following quarter. The compony's balance sheet at March 31 is given below: is paid on an annual basis, in November of each year. The company plans to purchase $20,800 in new equipment during May and $52,000 in new equipment during June; both purchases will be paid in cash. The company declares dividends of $17,400 each quarter, payable in the first month of the following quarter. The company's balance sheet at March 31 is given belowr The company wants a minimum ending cash balance each month of $50,000. All borrowing is done at the beginning of the month, with any repayments made at the end of the month. The interest rate on these loans is 1% per month and must be paid at the end of each month based on the outstanding loan balance for that month Required: 1. Prepare a master budget for the three-month period ending June 30 . Include the following detalled budgets: a. A sales budget by month and in total. b. A schedule of expected cash collections from sales, by month and in total. c. A merchandise purchases budget in units and in dollars. Show the budget by month and in total. d. A schedule of expected cash disbursements for merchandise purchases, by month and in total. 2. A cash budget Show the budget by month and in total. (Round your intermediate calculations and final enswers to the nearest whole dollar. Also, round down your interest calculations to the next whole dollar amount. Cash deficiency, repayments and interest should be indicated by o minus sign. Do not leave any empty spoces; input a 0 wherever it is required.) 3. A budgeted income ttstement for she threemonth ptriod enaing dunt 30 . Wte the vanisble costing approsch 4. A budgeted beisnce sheet os of June 30 . Knockoffs Unlimited, a nationwide disuibutor of low.cost imitation designer necklaces, has an exclusive franchise on the distribution of the necklaces, and sales have grown so ropidly over the past few years that it has become necessary to add new members to the management team. To date, the company's budgeting practices have been inferior, and at times the company has expenenced a cash shortage. You have been given responsibility for all planning and budgeting. Your first assignment is to prepare a moster budget for the next three months, starting April 1 You are eager to make a favourable impression on the president and have assembled the information below. The neckloces are sold to retallers for $10 each. Recent and forecast sales in units are as follows: The large bulldup in sales before and duning May is due to Mother's Day. Ending inventortes should be equal ro 40% of the next month's sales in units The necklaces cost the company $4 each. Purchases are pald for as follows: 50% in the month of purchase and the remaining 50% in the following month All sales are on credit, with no discount, and payable within 15 days. The company has found, however, that only 20% of a month's sales are collected by monthend. An additional 70% is collected in the following month, and the remaining 10% is collected in the second month following sale. Bad debts have been negingible. The company's monthly seiling and admintstrative expenses are given beiow: All selling and administrative expenses are pald during the month, in cash, with the exception of depreciation and insurance, insurance. is paid on an annual basis, in November of each year. The company plans to purchase $20,600in new equipment during Moy and 552,000 in new equipment during June, both purchsses wil be paid in cash. The company declates dividends of $17,400 each quarte, payobie in the first month of the followng quartec The company's balance sheet at March 31 is given below The large buildup in sales before and during May is due to Mother's Day, Ending inventorles should be equal to 40% of the next month's sales in units The neckiaces cost the company $4 each. Purchases are paid for as follows: 50% in the month of purchase and the remaining 50% in the following month. All sales are on credit, with no discount, and payable within 15 days. The company has found. however, that only 20% of a month's sales are collected by month-end. An additional 70% is collected in the following month, and the remaining 10% is collected in the second month following sale. Bad debts have been negigible The company's monthly selling and administrative expenses are given below: All selung and administrative expenses are pald during the month, in cash, with the exception of depreciation and insurance. Insurance is pald on an annual basis, in November of each yeat. The company plans to purchase $20.800 in new equipment during May and $52.000 in new equipment during June; both purchases will be pald in cash. The company declares dividends of $17.400 each quarter, payable in the first month of the following quarter. The company's balance sheet at March 31 is given below: The company wants a minimum ending cash baiance each month of $50.000. All borrowing is done at the beginning of the month, with any repayments made ot the end of the month. The interest rate on these loans is 15 per month and must be. pald of the end of each month bosed on the outstanding loan balance for thot month Required: 1. Prepare a master budget for the threemonth penod ending June 30 . include the followng detalled budgets: 6. A sales bueget by month and in total