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OPTIMA, INC. Additional information: Ending finished goods inventory (percentage of the next quarter's sales) Ending raw materials inventory (percentage of the next quarter's productio Expected number of frames sold in following quarters: Additional information: Cash on hand at January 1st, 2020 Percentage of sales in cash Additional information: Regarding Inventory: Work-in-process has a zero beginning and ending balance. Direct Materials Inventory dollar amounts need to be rolled forward to get the ending balance: (Beginning + Purchased - Used = Ending) Finished Goods Inventory dollar amounts need to be rolled forward to get the ending balance: (Beginning + Produced Sold = Ending) Optima Company Balance Sheet 12/31/2019 Assets Quarterly dividend payments Regarding Inventory: Work-in-process has a zero beginning and ending balance. Direct Materials Inventory dollar amounts need to be rolled forward to get the ending balance: (Beginning + Purchased - Used = Ending) Finished Goods Inventory dollar amounts need to be rolled forward to get the ending balance: (Beginning + Produced-Sold = Ending) Optima Company Direct Labor Budgot for the year ending December 31, 2020 Budgeted Production (Units) Qtr. 2 Qtr. 3 Qtr. 4 Total Hours per unit Hours needed Cost per hour Total Cost Optima Company Overhead Budget for the year ending December 31, 2020 Qtr.1Qtr.2Qtr.3Qtr.4Total Budgeted hours Variable Rate Budgeted VOH Budgeted FOH Total OH Optima Company Selling and Administrative Expenses Budget for the year ending December 31, 2020 Budgeted Sales (Units) Qtr. 1 Qtr. 2 Qtr. 3 Qtr. 4 Total Optima Company Selling and Administrative Expenses Budget for the year ending December 31, 2020 Qtr. 1 Qtr. 2 Qtr. 3 Qtr. 4 Total Budgetod Sales (Units) Variable Rate Variable expenses Fixed expenses Total expenses Optima Company Budgeted Cost Per Unit for the year ending December 31, 2020 Budgeted Manufacturing Costs: Unit Cost Direct Materials Direct Labor Overhead: Variable Fixed Total Unit Costs Optima Company + Instructions Given Budget. Optima Company Cost of Goods Sold Budget for the year ending December 31, 2020 Qtr.1Qtr.2Qtr.3Qtr.4Total Budgeted Sales (Units) Budgeted Manufacturing Costs per unit Budgeted Cost of Goods Sold Optima Company Cash Budget for the year ending December 31, 2020 Budgeted Cash Receipts Qtr. 1 Qtr. 2 Qtr. 3 Qtr. 4 Total Budgeted Sales Revenue Cash Collections Credit Collections (Current Month) Credit Collections (Following Month) Budgeted Cash Receipts Budgeted Cash Disbursements Budgeted Raw Materials Purchases Raw Materials Payments (Current Month) Raw Materials Payments (Following Month) Budgeted Annual Cash Flow Qtr. 1 Qtr. 2 Qtr. 3 Qtr. 4 Total Beginning Cash Balance Plus: Cash Receipts Less: Cash Payments Preliminary Cash Balance Cash Borrowed/Repaid Ending Cash Balance Optima Company Income Statement for the year ending December 31, 2020 Sales Less: COGS Gross margin Less: S\&A Expenses Income before taxes Optima Company Retained Earnings Statement for the year ending December 31, 2020 Beginning Retained Eamings Add: Net Income(Loss) Deduct Dividends Ending Retained Earnings Gross margin 132 Les5: S\&A Expenses: income before taxies. Optima Company Retained Earnings Statement for the year ending December 31, 2020 Beginning Retained Eamings Add: Net Income(Loss) Deduct Dividends Ending Rotainod Earnings Optima Company Balance Sheet Decmeber 31, 2020 Assets Llabilites and Stockholders Equity Cash Accounts Payable Accounts Receivable Line of Credit Payable Finished Goods Inventory Capital Stock Direct Materials Inventory Retained Earnings Plant, Property, and Equipment Total Assets Total Liabilities \& Stockholders' E Add 1000 more rows at bottom. OPTIMA, INC. Additional information: Ending finished goods inventory (percentage of the next quarter's sales) Ending raw materials inventory (percentage of the next quarter's productio Expected number of frames sold in following quarters: Additional information: Cash on hand at January 1st, 2020 Percentage of sales in cash Additional information: Regarding Inventory: Work-in-process has a zero beginning and ending balance. Direct Materials Inventory dollar amounts need to be rolled forward to get the ending balance: (Beginning + Purchased - Used = Ending) Finished Goods Inventory dollar amounts need to be rolled forward to get the ending balance: (Beginning + Produced Sold = Ending) Optima Company Balance Sheet 12/31/2019 Assets Quarterly dividend payments Regarding Inventory: Work-in-process has a zero beginning and ending balance. Direct Materials Inventory dollar amounts need to be rolled forward to get the ending balance: (Beginning + Purchased - Used = Ending) Finished Goods Inventory dollar amounts need to be rolled forward to get the ending balance: (Beginning + Produced-Sold = Ending) Optima Company Direct Labor Budgot for the year ending December 31, 2020 Budgeted Production (Units) Qtr. 2 Qtr. 3 Qtr. 4 Total Hours per unit Hours needed Cost per hour Total Cost Optima Company Overhead Budget for the year ending December 31, 2020 Qtr.1Qtr.2Qtr.3Qtr.4Total Budgeted hours Variable Rate Budgeted VOH Budgeted FOH Total OH Optima Company Selling and Administrative Expenses Budget for the year ending December 31, 2020 Budgeted Sales (Units) Qtr. 1 Qtr. 2 Qtr. 3 Qtr. 4 Total Optima Company Selling and Administrative Expenses Budget for the year ending December 31, 2020 Qtr. 1 Qtr. 2 Qtr. 3 Qtr. 4 Total Budgetod Sales (Units) Variable Rate Variable expenses Fixed expenses Total expenses Optima Company Budgeted Cost Per Unit for the year ending December 31, 2020 Budgeted Manufacturing Costs: Unit Cost Direct Materials Direct Labor Overhead: Variable Fixed Total Unit Costs Optima Company + Instructions Given Budget. Optima Company Cost of Goods Sold Budget for the year ending December 31, 2020 Qtr.1Qtr.2Qtr.3Qtr.4Total Budgeted Sales (Units) Budgeted Manufacturing Costs per unit Budgeted Cost of Goods Sold Optima Company Cash Budget for the year ending December 31, 2020 Budgeted Cash Receipts Qtr. 1 Qtr. 2 Qtr. 3 Qtr. 4 Total Budgeted Sales Revenue Cash Collections Credit Collections (Current Month) Credit Collections (Following Month) Budgeted Cash Receipts Budgeted Cash Disbursements Budgeted Raw Materials Purchases Raw Materials Payments (Current Month) Raw Materials Payments (Following Month) Budgeted Annual Cash Flow Qtr. 1 Qtr. 2 Qtr. 3 Qtr. 4 Total Beginning Cash Balance Plus: Cash Receipts Less: Cash Payments Preliminary Cash Balance Cash Borrowed/Repaid Ending Cash Balance Optima Company Income Statement for the year ending December 31, 2020 Sales Less: COGS Gross margin Less: S\&A Expenses Income before taxes Optima Company Retained Earnings Statement for the year ending December 31, 2020 Beginning Retained Eamings Add: Net Income(Loss) Deduct Dividends Ending Retained Earnings Gross margin 132 Les5: S\&A Expenses: income before taxies. Optima Company Retained Earnings Statement for the year ending December 31, 2020 Beginning Retained Eamings Add: Net Income(Loss) Deduct Dividends Ending Rotainod Earnings Optima Company Balance Sheet Decmeber 31, 2020 Assets Llabilites and Stockholders Equity Cash Accounts Payable Accounts Receivable Line of Credit Payable Finished Goods Inventory Capital Stock Direct Materials Inventory Retained Earnings Plant, Property, and Equipment Total Assets Total Liabilities \& Stockholders' E Add 1000 more rows at bottom

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