Answer Happy

The focts for this problem are presented on the Focts tab of this workbook. Instructions - Your solutions should be clearly labeled on the Solveions tab of this workbook. For the first quarter of 2022 , do the following (a) Prepare a sales budget. This is simifor to milustrotion 22.3 in your textbook. (b) Prepare a production budget. This is similar to Mustration 22.5 in your fextbook. (c) Presare a direct materials budget. (Round to nearest dollar) This is similar to iffustrarian 22.9 in your textbook. (d) Preparea direct labor budget. (For caltulations, round to the nearest hour.) This is similar to lifustration 22−11 in your textbook. (e) Presare a manufacturing averhead budget. (Round intermediate amounts to the nearest dollar.) This ia similar to III 1 stration 22.12 in your textbeok. If Preparea selling and administrative budget. This is similar to misstration 22-11 in your fextbook. [e] Prepare a budgeted income statement. (Round intemediatecalculations to the nearest doliar.) This is simifar to iilustration 22 -15 in your tentbook. (h) Preparea cash budget. This is similar to mustration 22-19 in your fertbook. holes: Points are fost for not following these rules. "Use Excer's functionality to your benefit. Use formulas. "Use proper formats for schedules, following the referenced tertbook exameles (including titieh. " Use correct number formats i\$, %, general ] and underscoring where appeopriate. "Doubiecheck your work! Verify rour formulas and logicl Cautiont Students found to have copied wark from or shared work with a peer will receive a zero for this assignment and be referred to the Dean of Students for Acodemic Discipline.
The company is preparing its budget for the coming year, 2022. The first step is to plan for the first quarter of that comingyear. The following 2. information has been gathered from their managers. 15. Finished Goods Inventory Planning 16 The company likes to keep 15% of the next quarter's unit sales in finished goods ending inventory. 28 The company likes to keep 12% of the material needed for the next month's production in raw materials ending inventory. 30 Accounts Payable \& Disbursements \begin{tabular}{l|l} 31 & Purchases on Accoun \\ 32 & Payment Activity \\ 33 & Month of Purchase \\ 34 & Month after Purchase \\ 35 & Balanceat 12/31/21 \\ 36 & \\ \hline 37 & Direct Labor & Costs \\ \hline \end{tabular} 41 Manufacturing Overhead Costs 42 Variablecosts per direct labor hour
52 Janitorial 1,300 54 Selling and Administrative Costs 55 Variable costs per unit sold 56 Fixed costs per month 57 Advertising 58 Insurance $1.60
(a) Prepare a sales budges. This is similar to montration 22-3 in your teatbook. (b) Prepare production budpet. This is similar to Mustration 22.5 in your textbook. (c) Prepare a direct materials budget. (Round to nearest dollar) This is similar to lifustration 22.9 in your textbook. (d) Prepare direct labor budget. (For calculations, found to the neares hour.) This is simifar to sifustrotion 22−11 in your tertbook. (e) Prepare a manufacturing averhead budget. (Round intermediate amounts to the nearest dollar.) This is similar to lilustrorian 22−12 in your textbook. (f) Preparea selling and administrative budget. This is similar fo misstration 22−11 in your fextbook. LE) Presare a budgeted income statement. (Round intermediate calculations to the nearest doliar.) This is simiirar to 1 ilustration 22−15 in your tertbook, (h) Preparea canh budget, This is similar fo mustration 22-19 in your textbook. Ruders: Points are fost for not following these rules. " Use Excei s functionality to your benefit. Use formulas. "Use proper formats for sehedules, following the referenced tersbook examples 6nciuding titlen, " Use correct number formats $, X, general ) and underscoring where appropriate. "Doublecheck your work! Verify your formulas and loeicl