Question: This is a new company. Question: create a first-year cash budget, three-year balance sheet, and three-year income statement. The first-year budget should be broken down

This is a new company. Question: create a first-year cash budget, three-year balance sheet, and three-year income statement. The first-year budget should be broken down monthly. Details are below:

COGS are 15.60 per unit

Direct labor is 1.30 per unit

Patent 14000 (one time fee)

Bank loan 300000

Repayment period 6 years

Interest rate 4%

Estimated production 510 per month

Product cost 85.95

Product Cost Analysis Direct Materials Unit from supplier packaging case shipping box for product COGS Cost per unit $12.35 $ Manufacturing cost per unit $51.30 Manufacturing overhead (see below) $34.40 yr 1 Manufacturing overhead - estimated Patent ( Contribution margin for Jan. VV VTotal Per unit $43,834.50 85.95 $7,956.00 $1,530.00 $127.50 $183.75 $1,289.25 $3,200.00 $3

Product Cost Analysis Direct Materials Unit from supplier packaging case shipping box for product COGS Direct labor per unit Employee Cost per unit $12.35 $3.00 $0.25 $15.60 $1.30

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Selling price is 120 per unit Variable costs are 40 per unit Fixed costs are 1200000 per year Marketing costs are 10000 per month Income taxes are 30 Assume that all sales are on credit and that 60 of ... View full answer

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