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Budgeted income statement.

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9. CVP Income Statement 10. Budgeted Cash Statement 11. Budgeted Balance Sheet Additional details: - Fine Office Company produces two products P100 and P200 - Sales price per P100 is - Sales price per P200 is - The value of P100 finished goods inventory at the end of 2022 is - At the end of each quarter, Fine Office Company requires ending inventory to be equal to - Each P100 unit uses Each P200 unit uses - Fine Office Company currently has sq. ft. of steel during the manufacturing process. $8 per sq. ft. 30,000 sq. ft. of steel in the beginning inventory. At inventory. - Each product requires - Direct Labour costs $ \begin{tabular}{|r|l|l|} \hline 2 & machine hours and & 7 \\ \hline 19.7 & per direct labour hrs to produce. \\ \hline \end{tabular} - Fine Office Company allocates manufacturing overhead costs based on the estimated machine hours. Estimated manufacturing overhead cost for 2023 are $143,640 and are all variable. - For each quarter, it is estimated that will be credit sales. Of the credit sales, 80% pay in the quarter of the sale and 20% pay in the following quarter. Credit sales from Q4 2022 were - Direct labour costs and manufacturing overhead costs are paid for in cash in the quarter they occurred. - Assume operating expenses occur evenly throughout the year and are all paid in cash. - For each quarter, the purchase and Q4 2022 were Fine Office Company Additional details continued: - Fine Office Company will pay $60,000 in dividends in Q4 - Currently, the cash balance in the bank is $15,000. Fine Office Company wants to maintain a minimum cash balance of $10,000 in the bank for each quarter. - Budgeted sales volumes year 2024 Q1: Additional details continued: - Currently, the cash balance in the bank is $15,000. Fine Office Compant minimum cash balance of $10,000 in the bank for each of company wants to maintain a - Budgeted sales volumes year 2024Q1: - Selling and Adr - Fine Office Company will purchase a new machine on 1/1/2023 worth $500,000 and will make two equal payments. The first payment will be in Q1 and the second in Q4. Assume the machine was purchased at the beginning of the year. - Taxation is 25% on taxable income and paid at the end of Q4 each year (Ignore negative taxes). - Balance sheet information as at 31 st December 2022 is as follows; - For Cost of goods sold (COGS): Add total costs of production + Beginning Finished goods - Ending Finished goods inventory. - Interest of $9,000 on loans is paid in total at the end of the year and is a fixed cost. Alternatively: Cost Cost of Goods Sold Direct materials Used Manufacturing Overhead Costs Total Costs of Manufacture: Beginning Finished Goods Inventory Less: Ending Finished Goods inventory cost of Goods sold cogs using the unit cost method: Rounding difference

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