really need help i have been working on this for hours and barely made any progress, please complete second portion of hw problem from requirments 2-7

Requirements 1. Prepare Trenton's operating budget and cash budget for 2019 by quarter. Required schedules and budgets include: sales budget, production budget direct materials budget, direct labor budget, manufacturing overhead budget, cost of goods sold budget, selling and administrative expense budget, schedule of cash receipts, schedule of cash payments, and cash budget. Manufacturing overhead costs are allocated based on direct labor hours. (Round all calculations to the nearest dollar.) 2. Prepare Trenton's annual financial budget for 2019, including budgeted income statement and budgeted balance sheet. 3. Trenton sold 5,000 sets in 2019, and its actual operating income was as follows: (Click the icon to view the actual income statement.) Prepare a flexible budget performance report through operating income for 2019. Show product costs separately from selling and administrative costs. To simplify the calculations due to sets in beginning inventory having a different cost than those produced and sold in 2019, assume the following product costs: FIA (Click the icon to view the product costs.) 4. What was the effect on Trenton's operating income of selling 800 sets more than the static budget level of sales? 5. What is Trenton's static budget variance for operating income? 6. Explain why the flexible budget performance report provides more useful information to Trenton's managers than the static budget performance report. What insights can Trenton's managers draw from this performance report? 7. During 2019, Trenton recorded the following cost data: D: (Click the icon to view the standard cost data.) (Click the icon to view the actual cost data.) Compute the cost and efficiency variances for direct materials and direct labor. 8. For manufacturing overhead, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances. 9. Prepare the standard cost income statement for 2019. 10. Calculate Trenton's ROI for 2019. To calculate average total assets, use the December 31, 2018, balance sheet for the beginning balance and the budgeted balance sheet for December 31, 2019, for the ending balance. Round all of your answers to four decimal places. 11. Calculate Trenton's profit margin ratio for 2019. Interpret your results. 12. Calculate Trenton's asset turnover ratio for 2019. Interpret your results. 13. Use the expanded ROI formula to confirm your results from Requirement 10. Interpret your results. 14. Trenton's management has specified a 30% target rate of return. Calculate Trenton's RI for 2019. Interpret your results. Ctrl Other budget data for Trenton Toy Co. (Unless otherwise noted, assume all of the following events occurred during 2018 and that any balances given are stated as of December 31, 2018.) a Budgeted sales are 900 sets for the first quarter and expected to increase by 100 sets per quarter. Cash sales are expected to be 30% of total sales, with the remaining 70% of sales on account. Sets are budgeted to sell for $70 per set. b. Finished Goods Inventory on December 31, 2018, consists of 150 sets at $29 each. c. Desired ending Finished Goods Inventory is 30% of the next quarter's sales, first quarter sales for 2020 are expected to be 1,300 sets. FIFO inventory costing method is used. d. Raw Materials inventory on December 31, 2018, consists of 900 pounds. Direct materials requirement is 6 pounds per set The cost is $1 per pound e. Desired ending Raw Materials Inventory is 10% of the next quarter's direct materials needed for production, desired ending inventory for December 31, 2019, is 900 pounds: Indirect materials are insignificant and not considered for budgeting purposes f. Each set requires 0.40 hours of direct labor; direct labor costs average $10 per hour. g. Variable manufacturing overhead is $4.00 per set h. Fored manufacturing overhead includes $3.500 per quarter in depreciation and $4.492 per quarter for other costs, such as utilities, insurance, and property taxes. L Fixed selling and administrative expenses include $9,500 per quarter for salaries: $5,400 per quarter for rent: $900 per quarter for insurance, and $1,000 per quarter for depreciation Variable selling and administrative expenses include supplies at 1% of sales. k. Capital expenditures include $40,000 for new manufacturing equipment to be purchased and paid for in the first quarter. Cash receipts for sales on account are 50% in the quarter of the sale and 50% in the quarter following the sale: Accounts Receivable balance on December 31, 2018, is expected to be received in the first quarter of 2019, uncollectible accounts are considered insignificant and not considered for budgeting purposes. m. Direct materials purchases are paid 70% in the quarter purchased and 30% in the following quarter, Accounts Payable balance on December 31, 2018, is expected to be paid in the first quarter of 2019. n. Direct labor, manufacturing overhead, and selling and administrative costs are paid in the quarter incurred. o. Income tax expense is projected at $4,500 per quarter and is paid in the quarter incurred. p. Trenton desires to maintain a minimum cash balance of $35,000 and borrows from the local bank as needed in increments of $1,000 at the beginning of the quarter, principal repayments are made at the beginning of the quarter when excess funds are available and in increments of $1,000; interest is 12% per year and paid at the beginning of the quarter based on the amoun outstanding from the previous quarter. Trenton Toy Company More Info December 31, 2018 Asatta | Current Assets Car 10,000 70,250 199.000 (42,000) 157.000 $ 227.250 $ Account Receivable Raw Materials invertory Finished Goods Inventory Total Current Assets Property. Plant, and Equipment: Equipment Less: Accumulated Depreciation Total Assets Liabilities Current Liabilities Accounts Payable Stockholders' Equity Common Stock, no par $ Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity budgeted to super set b. Finished Goods Inventory on December 31, 2018, consists of 150 120 each c. Desired ending Finished Goods Inventory of the next arter's first quarter sales for 2030 are expected to be 1.300 FIFO inventory costing method is used. d. Raw Materials invertory on December 31, 2018, consists of 100 pounds. Det materials requirement is 6 pounds per set. The cost is $1 per pod .. Desired ending Raw Materials inventory is 10% of the next quarter's direct materials needed for production desired ending inventory for December 31, 2019, 00 pounds de materials are insignificant and not considered for budgeting purposes t Each set requires 0.40 hours of direct labor, direct labor costs average $10 per hour 9. Variable manufacturing overhead is $4.00 per set h. Fixed manufacturing overhead includes $3.500 per quarter in depreciation and A92 per quarter for other costs, such as costes Insurance, and property taxes Fixed selling and administrative expenses include $0,500 per quarter for salaries: 35.400 per quarter for rent: $900 per quarter for insurance and $1,000 per quarter for depreciation Variable selling and administrative expenses include supplies at 1% of sales. k. Capital expenditures include $40,000 for new manufacturing equipment to be purchased and paid for in the first quarter. Cash receipts for sales on account are 50% in the quarter of the sale and 50% in the quarter following the sale, Accounts Receivable balance on December 31, 2018 is expected to be received in the fut quarter of 2019, uncollectible accounts are considered insignificant and not considered for budgeting purposes m. Direct material purchases are paid 70% in the quarter purchased and 30% in the following quarter Accounts Payable balance on December 31, 2018, is expected to be paid in the first quarter of 2019 n. Direct labor, manufacturing overhead, and selling and administrive costs are paid in the quarter incurred. o. Income tax expense is projected at $4,500 per quarter and is paid in the quarter incurred p. Tronton desires to maintain a minimum cash balance of 535,000 and borrows from the local bankas needed in increments of $1,000 at the beginning of the quarter, principal repayments are made at the ini hawana L $ 10,000 150,000 67.250 217.250 $ 227,250 Print Done Requirements Trenton Toy Company Income Statement For the Year Ended December 31, 2019 Net Revenue S Cost of Goods Sold Variable 30,368 350 000 235,376 Gross Profit Selling and Administrative Expenses Variable 1. Prepare Trention's operating budget and cash budget for 2019 by quarter Required schedules and budgets include: sales budget production budget direct materials budget direct labor budget, manufacturing overhead budget cost of goods sold budget, seling and adminisive expense budget schedule of cash receipts schedule of cash payments, and cash budget Manufacturing overhead costs are located based on direct labor hours (Round al calculations to the nearest dollar) 2. Prepare Trenton's annual financial budget for 2019, including budgeted Income statement and budgeted balance sheet 3. Trention sold 5.000 sets in 2019, and its actual operating income was as follows: (Click the icon to view the actual income statement.) Prepare a fexible budget performance report through operating income for 2019. Show product costs separately from selling and administrative costs. To simplify the calculations due to sets in beginning inwentary having a different cost than those produced and sold in 2019, assume the following product 70,700 Faced Operating income Other Income and (Expenses 164,676 Interest Expense (940) Income Before Income Taxes 163.736 26,000 M0 PM Income Tax Expense Net Income 137,736 (Click the icon to view the product costs.) 4. What was the effect on Trenton's operating income of selling 800 sets more than the state budget level of sales? 5. What is Trenton's static budget variance for operating income? 6. Explain why the flexible budget performance report provides more information to Trenton's managers than the static budget performance report What insights can Trenton's managers draw from this performance report? 7. During 2019, Trenton recorded the following cost data (Click the icon to view the standard cost data) (Click the icon to view the actual cost data) Compute the cost and efficiency variances for direct materials and direct labor Print Done Variable Fixed Total 0 Requirements - X Static budget Flexible budget S58242 $ 3,100 31,968 S 10 90210 1 5074 1. Prepare Trenton's operating budget and cash budget 2019 Required schedules and budgets include: sales budget, production budget direct material budget direct labor budget, maaturing overhead budget cost of goods sold budget, selling and administrative expense budget schedule of cash receipts schedule of cash payments, and cash budget Manufacturing overhead costs are located based on direct labor hour (Round all calculations to the nearest dolar) 2. Prepare Trenton's annual financial budget for 2019, including budgeted income statement and budgeted balance sheet 3. Trenton sold 5.000 sets in 2019, and its actul operating income was as follows: Click the icon to view the actual income statement) Prepare a fexible budget performance report through operating income for 2019. Show product costs separately from selling and administrative costs. To simplify the calculations due to sets in beginning inventory having a different cost than those produced and sold in 2019, assume the following product (Click the icon to view the product costs.) 4. What was the effect on Trenton's operating income of sing 800 sets more than the static budget level of sales? 5. What is Trenton's static budget variance for operating income? 6. Explain why the flexible budget performance report provides more useful information to Trenton's managers than the static budget performance report. What insights can Trenton's managers draw from this performance report? 7. During 2019. Trenton recorded the following cost data: (Click the icon to view the standard cost data) (Click the icon to view the actual cost data) Compute the cost and efficiency variances for direct materials and direct labor Print Done Standard Cost Information 0 Requirements - X Direct materials Direct labor Variable manufacturing overhead Faced manufacturing overhead Static budget amount: $31,968 Quantity 6 pounds per set 0.40 hours per set 0.40 hours per set 0.40 hours per set Cost $ 1.00 per pound $10.00 per hour $ 10.00 per hour 16.80 per hour numbers blocked by Prepare a flexible budget performance report through operating income for 2019. Show product costs separately from selling and administrative bows. To simplify the calculations due to sets in beginning inventory having a different cost than those produced and sold in 2019, assume the following product costs: Click the icon to view the product costs.) 4. What was the effect on Trenton's operating income of seling 800 seis more than the state budget level of sales? 5. What is Trenton's static budget variance for operating income? 6. Explain why the flexible budget performance report provides more useful Information to Trenton's managers than the static budget performance report What insights can Trenton's managers draw from this performance report? During 2019, Trenton recorded the following cost data: (Click the loon to view the standard cost data) Click the icon to view the actual cost data) Compute the cost and efficiency variances for direct materials and direct labor For manufacturing overhead compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances Prepare the standard cost income statement for 2019. 16. Calculate Trenton's ROI for 2019. To calculate average total assets, use the December 31, 2018, balance sheet for the beginning balance and the budgeted balance sheet for December 31, 2019, for the ending balance. Round all of your answers to four decimal places 11. Calculate Trenton's profit margin ratio for 2019. Interpret your results 14. Calculate Trenton's asset turnover ratio for 2019. Interpret your results 11. Use the expanded ROI formula to confirm your results from Requirement 10 Interpret your results Tranne mamanthanarias C a mi Data Table ( Actual Cost Information Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead 1 29,900 pounds @ 1,980 hours @ 1,980 hours @ $ 140 per pound) $ $ 10.50 per hour) $ 9.70 per hour) 41,6600 20,790 19,2046 30.36 ( Print Done Print Done