Where do I begin preparing this budget? I have attached the template and the actual project. I need to prepare this master budget.

Component Cash Receipts Purchases Cash Disbursements (Purchases) Cash Disbursements (Wages) Cash Disbursements (GSA) Income Statement Cash Budget Flexible Budget Cost of Goods Sold Total Points Points Available Earned 12.0 12.0 12.0 12.0 12.0 12.0 12.0 12.0 4.0 100.0 - Month From Prior Months January February March April May June July August September October November December Total Cash Receipts Sales January February March April May June Cash Receipts July August September October November December Month From Prior Months January February March April May June July August September October November December Total Purchases Sales January February March April May June Purchases July August September October November December Month From Prior Months January February March April May June July August September October November December Total Disbursements Purchases January February March April May Cash Disbursements for Purchases June July August September October November December Month From Prior Months January February March April May June July August September October November December Total Disbursements Sales January February March April May Cash Disbursements for Wages June July August September October November December Month Sales Payroll Salaries Promotions Property Taxes Liability Insurance Workers Compensation Insurance Utilities Depreciation Total Disbursements January February March April May Cash Disbursements for General, Sales and Administration June July August September October November December Budgeted Income Statement RJC Corporation For the Period Ended December 31, 2014 Month Sales Less: Gost of Goods Sold Contribution Margin Expenses Salaries Promotions Property Taxes Liability Insurance Workers Compensation Insurance Utilities Depreciation Total Expenses Net Income Before Taxes Income Taxes Net Income Deferred Tax Liability (Asset) Cost of Goods Sold Direct Materials Direct Labor Factory Overhead Total Cost of Goods Sold January February March April May June July August September October November December Cash Budget Month Receipts Disbursements Purchases Wages Salaries (GSA) Promotions Property Taxes Liability Insurance Workers Compensation Insurance Utilities Depreciation Income Taxes Total Disbursements Excess (Shortage) of Receipts over Disbursements January February March April May June July August September October November December Budgeted Income Statement RJC Corporation For the Period Ended December 31, 2014 Month Sales Less: Gost of Goods Sold Contribution Margin Expenses Salaries Promotions Property Taxes Liability Insurance Workers Compensation Insurance Utilities Depreciation Total Expenses Net Income Before Taxes Income Taxes Net Income Cost of Goods Sold Direct Materials Direct Labor Factory Overhead Total Cost of Goods Sold June Budgeted June Actual Variance Favorable/Unfavorable? You are the Assistant Controller for the RJC Corporation and have been given the responsibility for formulating the budget for the upcoming year. The RJC Corporation is experiencing a period of rapid expansion, so production planning, inventory levels and cash flow will be exceedingly important. The following information will be used to prepare the budget: 1. 2. 3. 4. 5. RJC Corporation has experienced an excellent record in accounts receivable collection and expects this trend to continue. Sixty percent of billings are collected in the month after the sale and 40% in the second month after the sale. Uncollectible accounts are minimal and can be ignored in your analysis. The purchase of parts is RJC Corporation's largest expenditure: The cost of these items is equal to 50% of sales. Sixty percent of these parts are received one month prior to sale and 40% are received during the month of sale. Eighty percent of accounts payable have been paid one month after receipt of purchases and the remaining 20% have been paid two months after receipt. Wages, including fringe benefits, are a function of sales volume and are equal to 20% of the current month's sales. These wages are paid in the month incurred. General and administrative expenses include: A. $480,000 in salaries per year B. Product promotions, 3% of Sales C. $240,000 in property taxes per year D. $360,000 for insurance per year E. $300,000 in utilities per year F. $600,000 in depreciation per year G. Workers Compensation Insurance, 1.5% of Direct Labor All expenses, except property taxes, Product Promotions and Workers Compensation Insurance are incurred uniformly throughout the year. Property taxes are paid in four equal installments in the last month of each calendar quarter. 6. The company makes income tax payments in the first month of each quarter based on the income for the prior quarter. The company is subject to an effective income tax rate of 40%. The pretax income for the last quarter of the prior year is projected to be $612,000. 7. Factory overhead is a function of the cost of Direct Labor, and is predetermined at 85%, Required: A. Prepare the spreadsheets from the templates with the necessary figures. B. Sales for June were 90% of budgeted. Prepare a flexible budget and a performance report for the month of June. C. Sales for each month are listed below November, 2014 December, 2014 January, 2015 February, 2015 March, 2015 April, 2015 May, 2015 June, 2015 1,650,000.00 1,700,000.00 1,800,000.00 2,000,000.00 1,800,000.00 2,200,000.00 2,500,000.00 2,800,000.00 July, 2015 August, 2015 September, 2015 October, 2015 November, 2015 December, 2016 January, 2016 3,000,000.00 3,000,000.00 3,200,000.00 3,200,000.00 3,000,000.00 3,400,000.00 3,300,000.00