So here are the questions i need to answer, and here are the things i have already answered and know to be correct,

now here are the ones that i have done some work on already but am stuck. all of the numbers that are on there already are correct answers and should be there but i am stuck and could really use the help in understanding how to get the correct answers,

Selling and Admin Expense Budget Variable expense rates per unit of sales are sales commissions $2 and freight-out $1. Variable expenses per quarter are based on the unit sales from the sales budget. Advertising expense for the year is $18,000 paid evenly each quarter. Sales salaries are $12,000 each quarter The office manager is paid a salary of $7,000 each quarter. Depreciation for office equipment is $1,200 each quarter. Property taxes are $5,000 for the year, paid evenly each quarter. Budgeted Income Statement Additional items: Interest expense is expected to be $150 Income taxes are estimated to be $10,000 Cash Budget Assumptions 1. The January 1, 2020, cash balance is expected to be $32,000. The Company wishes to maintain a balance of at least $15,000. 2. Sales: 60% are collected in the quarter sold and 40% are collected in the following quarter. Accounts receivable of $70,000 at December 31, 2019, are expected to be collected in full in the first quarter of 2020. 3. Short-term investments are expected to be sold for $2,500 cash in the first quarter. 4. Direct materials: 50% are paid in the quarter purchased and 50% are paid in the following quarter. Accounts payable of $11,700 at December 31, 2019, are expected to be paid in full in the first quarter of 2020. 5. Direct labor: 100% is paid in the quarter incurred. 6. Manufacturing overhead and selling and administrative expenses: All items except depreciation are paid in the quarter incurred. 7. Management plans to purchase equipment in the third quarter for $7,000 cash. 8. The Company makes equal quarterly payments of its estimated annual income taxes. 9. Loans are repaid in the earliest quarter in which there is sufficient cash (that is, when the cash on hand exceeds the $15,000 minimum required balance). Budgeted Balance Sheet Pertinent data from the budgeted balance sheet at December 31, 2019, are as follows. Buildings and equipment $182,000 Accumulated depreciation 28,800 Common stock 225,000 Retained earnings 46,410 B D E F G My Company Sales Budget . For the Year Ending December 31, 2020 Quarter IN 3 19 4 Year Expected unit sales 3,100 3,600 4,100 4,600 15,400 Unit selling price 50 50 50 50 Total sales 155,000 180,000 205,000 230,000 770,000 0 1 2 THESE ARE CORRECT ANSWERS 3 4 My Company Production Budget For the Year Ending December 31, 2020 . 5 Quarter 5 1 2 ml 3 4 Year - Expected unit sales 3,100 3,600 4,100 4,600 Add: Desired ending FG unit 720 820 920 Total required units 3,820 4,420 5,020 4,600 o Less: Beginning FG units 620 720 820 920 1 Required production units 3,200 3,700 4,200 3,680 Nm 2 3 THESE ARE CORRECT ANSWERS 4 1 My Company 2 Direct Materials Budget 3 For the Year Ending December 31, 2020 4 5 Quarter 5 1 IN 3 16 4 Year 7 Units to be produced 3,200 3,700 4,200 4,700 8 DM per unit 2 2 2 2 Total materials needed for productic 6,400 7,400 8,400 9,400 o Add: Desired ending DM inventory 740 840 940 1,200 1 Total materials required 7,140 8,240 9,340 10,600 2 Less: Beginning DM inventory 640 740 840 940 3 DM purchases 6,500 7,500 8,500 9,660 4 Cost per pound 3 3 3 3 5 Total cost of DM purchases 19,500 22,500 25,500 28,980 96,480 6 7 THESE ARE CORRECT ANSWERS 8 A D E G My Company Direct Labor Budget For the Year Ending December 31, 2020 Quarter IH 1 1 IN 3 4 Year Units to be produced 3,200 3,700 4,200 4,700 DL time per unit 2 2. 2 2 Total required DL hours 6,400 7,400 8,400 9,400 DL cost per hour 9 9 9 9 Total DL cost 57,600 66,600 75,600 84,600 284,400 3 THESE ARE CORRECT ANSWERS 5 5 B B D E F My Company 2 Manufacturing Overhead Budget 3 For the Year Ending December 31, 2020 5 Quarter 5 1 IN 3 3 4 Year - Variable Costs 3 indirect matierials (1.25) 8,000 9,250 10,500 11,750 indirect labor (1.10) 7,040 8,140 9,240 10,340 o utility (0.35) 2,240 2,590 2,940 3,290 1 maintenance (0.25) 1,600 1,850 2,100 2,350 2 Total variable costs 18,880 21,830 24,780 27,730 3 Fixed costs 4 superviser salary 15,000 15,000 15,000 15,000 5 depreciation 3,500 3,500 3,500 3,500 6 property tax 9,250 9,250 9,250 9,250 7 maintenance fee 4,300 4,300 4,300 4,300 8 Total fixed costs 32,050 32,050 32,050 32,050 9 Total manufacturing OH 50,930 53,880 56,830 59,780 221,420 o Direct labor hours 6,400 7,400 8,400 9,400 1 Manufacturing OH rate per DL hour 2 3 4 THESE ARE CORRECT ANSWERS 5 My Company Selling and Administrative Expense Budget Quarter 1 2 3 4 Year Budgeted sales in units 3,100 Variable expenses Sales com (2) 6,200 freight (1) 3,100 Total variable expenses Fixed expenses advetising 4,500 sales salary 12,000 office manager salaries 1,750 depreciation 300 property tax 1,250 Total fixed expenses Total selling and admin expense use for sales and admin box G G H 1 My Company 2 Budgeted Income Statement 3 For the Year Ending December 31, 2020 4 5 Sales 770,000 6 Cost of good sold 585,200 7 Gross profit 184,800 8 Selling and administrative expense 9 Income from operations gross income minus income operation 10 Interest expense 150 AA minus interest -income tax 11 Income before taxes 12 Income tax expense 10,000 13 Net income 1 My Company 2 Schedule of expected collections 3 4 Quarter 5 Sales 1 2 3 4 6 A/R, 12/31/19 70,000 70,000 7 First quarter 155,000 93,000 62,000 8 Second quarter 180,000 108,000 72,000 9 Third quarter 10 Fourth quarter 11 Total collections 12 13 My Company 2 Schedule of expected payments for DM Quarter 5 Purchases 1 IN mi 3 4 A/P, 12/31/19 11,700 11,700 - First quarter 19,500 9,750 9,750 B Second quarter 22,500 11,250 11,250 Third quarter 25,500 12,750 12,750 0 Fourth quarter 28,980 14,490 1 Total payments B D E F 1 My Company 2 Cash Budget 3 For the Year Ending December 31, 2020 4. 5 Quarter 6 1 2 3 4 7 Beginning cash balance 32,000 8 Add Receipts 9 cash collections 70,000 10 short term investments 2,500 11 Total receipts 72,500 12 Total available cash 104,500 13 Less: Disbursements 14 Direct Materials-schedule of expected payments 15 DL-directslabor budget 16 MO-OH budget 17 S&A 18 income taxes - assumption 8 19 20 Total disbursements 21 Excess (deficiency) 22 Financing 23 Add: Borrowings 4 Less: Repayments (including interest) 25 Ending cash balance 26 27 My Company Budgeted Balance Sheet December 31, 2020 Assets Current assets Cash cash budget 4th Accounts receivable remaining 4th quarter Finished goods inventory 38,760 Raw materials inventory 3,600 Total current assets add all Property, plant, and equipment B Buildings and equipment 189,000 1 Less: Accumulated depreciation 140,000 5 Total assets Liabilities and Stockholders Equity - Liabilities 3 Accounts payable 50% of 4th sch of exp collections Stockholders equity Common stock 225,000 1 Retained earnings beg balance plus net income 2 Total stockholders equity add 3 Total liabilities and stockholders equity should match assests Selling and Admin Expense Budget Variable expense rates per unit of sales are sales commissions $2 and freight-out $1. Variable expenses per quarter are based on the unit sales from the sales budget. Advertising expense for the year is $18,000 paid evenly each quarter. Sales salaries are $12,000 each quarter The office manager is paid a salary of $7,000 each quarter. Depreciation for office equipment is $1,200 each quarter. Property taxes are $5,000 for the year, paid evenly each quarter. Budgeted Income Statement Additional items: Interest expense is expected to be $150 Income taxes are estimated to be $10,000 Cash Budget Assumptions 1. The January 1, 2020, cash balance is expected to be $32,000. The Company wishes to maintain a balance of at least $15,000. 2. Sales: 60% are collected in the quarter sold and 40% are collected in the following quarter. Accounts receivable of $70,000 at December 31, 2019, are expected to be collected in full in the first quarter of 2020. 3. Short-term investments are expected to be sold for $2,500 cash in the first quarter. 4. Direct materials: 50% are paid in the quarter purchased and 50% are paid in the following quarter. Accounts payable of $11,700 at December 31, 2019, are expected to be paid in full in the first quarter of 2020. 5. Direct labor: 100% is paid in the quarter incurred. 6. Manufacturing overhead and selling and administrative expenses: All items except depreciation are paid in the quarter incurred. 7. Management plans to purchase equipment in the third quarter for $7,000 cash. 8. The Company makes equal quarterly payments of its estimated annual income taxes. 9. Loans are repaid in the earliest quarter in which there is sufficient cash (that is, when the cash on hand exceeds the $15,000 minimum required balance). Budgeted Balance Sheet Pertinent data from the budgeted balance sheet at December 31, 2019, are as follows. Buildings and equipment $182,000 Accumulated depreciation 28,800 Common stock 225,000 Retained earnings 46,410 B D E F G My Company Sales Budget . For the Year Ending December 31, 2020 Quarter IN 3 19 4 Year Expected unit sales 3,100 3,600 4,100 4,600 15,400 Unit selling price 50 50 50 50 Total sales 155,000 180,000 205,000 230,000 770,000 0 1 2 THESE ARE CORRECT ANSWERS 3 4 My Company Production Budget For the Year Ending December 31, 2020 . 5 Quarter 5 1 2 ml 3 4 Year - Expected unit sales 3,100 3,600 4,100 4,600 Add: Desired ending FG unit 720 820 920 Total required units 3,820 4,420 5,020 4,600 o Less: Beginning FG units 620 720 820 920 1 Required production units 3,200 3,700 4,200 3,680 Nm 2 3 THESE ARE CORRECT ANSWERS 4 1 My Company 2 Direct Materials Budget 3 For the Year Ending December 31, 2020 4 5 Quarter 5 1 IN 3 16 4 Year 7 Units to be produced 3,200 3,700 4,200 4,700 8 DM per unit 2 2 2 2 Total materials needed for productic 6,400 7,400 8,400 9,400 o Add: Desired ending DM inventory 740 840 940 1,200 1 Total materials required 7,140 8,240 9,340 10,600 2 Less: Beginning DM inventory 640 740 840 940 3 DM purchases 6,500 7,500 8,500 9,660 4 Cost per pound 3 3 3 3 5 Total cost of DM purchases 19,500 22,500 25,500 28,980 96,480 6 7 THESE ARE CORRECT ANSWERS 8 A D E G My Company Direct Labor Budget For the Year Ending December 31, 2020 Quarter IH 1 1 IN 3 4 Year Units to be produced 3,200 3,700 4,200 4,700 DL time per unit 2 2. 2 2 Total required DL hours 6,400 7,400 8,400 9,400 DL cost per hour 9 9 9 9 Total DL cost 57,600 66,600 75,600 84,600 284,400 3 THESE ARE CORRECT ANSWERS 5 5 B B D E F My Company 2 Manufacturing Overhead Budget 3 For the Year Ending December 31, 2020 5 Quarter 5 1 IN 3 3 4 Year - Variable Costs 3 indirect matierials (1.25) 8,000 9,250 10,500 11,750 indirect labor (1.10) 7,040 8,140 9,240 10,340 o utility (0.35) 2,240 2,590 2,940 3,290 1 maintenance (0.25) 1,600 1,850 2,100 2,350 2 Total variable costs 18,880 21,830 24,780 27,730 3 Fixed costs 4 superviser salary 15,000 15,000 15,000 15,000 5 depreciation 3,500 3,500 3,500 3,500 6 property tax 9,250 9,250 9,250 9,250 7 maintenance fee 4,300 4,300 4,300 4,300 8 Total fixed costs 32,050 32,050 32,050 32,050 9 Total manufacturing OH 50,930 53,880 56,830 59,780 221,420 o Direct labor hours 6,400 7,400 8,400 9,400 1 Manufacturing OH rate per DL hour 2 3 4 THESE ARE CORRECT ANSWERS 5 My Company Selling and Administrative Expense Budget Quarter 1 2 3 4 Year Budgeted sales in units 3,100 Variable expenses Sales com (2) 6,200 freight (1) 3,100 Total variable expenses Fixed expenses advetising 4,500 sales salary 12,000 office manager salaries 1,750 depreciation 300 property tax 1,250 Total fixed expenses Total selling and admin expense use for sales and admin box G G H 1 My Company 2 Budgeted Income Statement 3 For the Year Ending December 31, 2020 4 5 Sales 770,000 6 Cost of good sold 585,200 7 Gross profit 184,800 8 Selling and administrative expense 9 Income from operations gross income minus income operation 10 Interest expense 150 AA minus interest -income tax 11 Income before taxes 12 Income tax expense 10,000 13 Net income 1 My Company 2 Schedule of expected collections 3 4 Quarter 5 Sales 1 2 3 4 6 A/R, 12/31/19 70,000 70,000 7 First quarter 155,000 93,000 62,000 8 Second quarter 180,000 108,000 72,000 9 Third quarter 10 Fourth quarter 11 Total collections 12 13 My Company 2 Schedule of expected payments for DM Quarter 5 Purchases 1 IN mi 3 4 A/P, 12/31/19 11,700 11,700 - First quarter 19,500 9,750 9,750 B Second quarter 22,500 11,250 11,250 Third quarter 25,500 12,750 12,750 0 Fourth quarter 28,980 14,490 1 Total payments B D E F 1 My Company 2 Cash Budget 3 For the Year Ending December 31, 2020 4. 5 Quarter 6 1 2 3 4 7 Beginning cash balance 32,000 8 Add Receipts 9 cash collections 70,000 10 short term investments 2,500 11 Total receipts 72,500 12 Total available cash 104,500 13 Less: Disbursements 14 Direct Materials-schedule of expected payments 15 DL-directslabor budget 16 MO-OH budget 17 S&A 18 income taxes - assumption 8 19 20 Total disbursements 21 Excess (deficiency) 22 Financing 23 Add: Borrowings 4 Less: Repayments (including interest) 25 Ending cash balance 26 27 My Company Budgeted Balance Sheet December 31, 2020 Assets Current assets Cash cash budget 4th Accounts receivable remaining 4th quarter Finished goods inventory 38,760 Raw materials inventory 3,600 Total current assets add all Property, plant, and equipment B Buildings and equipment 189,000 1 Less: Accumulated depreciation 140,000 5 Total assets Liabilities and Stockholders Equity - Liabilities 3 Accounts payable 50% of 4th sch of exp collections Stockholders equity Common stock 225,000 1 Retained earnings beg balance plus net income 2 Total stockholders equity add 3 Total liabilities and stockholders equity should match assests