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Instructions - Your solveions should be cicarly labeled on the Solutions fob of this workbook. For the first quarter of 2022, do the following. (a) Prepare a sales budget. This a similor to illuntrotion 22.3 in your textbook. (b) Prepare a production budget. This is vimilar to Mustrotion 22.5 in your textbook (c) Prepare a direct materials budget. (Round to nearest dollaf) This is similar to Mustrotion 22.9 in your textbook. (d) Prepare a diect labor budget. (For calculations, round to the nearest hour.) This ia similar to illustration 22-11 in your fextbook. (e) Prepare a manufactirine overhesd budget. (Round intermedate amounts to the heareat dollar.) Ths is simblar to illatrotion 22 -12 is your textboek 10 Prepare a selling and adminigtrative budeet. That is smilor to illstration 22-11 in your tertbook, (c) Frepare a budgeted income statement. Plound intermediate cakulations to the nearest dollar.) This is similar fo ilustration 22 -15 in your tertbook. (h) Prepare a cash budget. This is similar to Illatration 22-19 in your teatbook. Rules: Paints are last for not following these rules. * Use Excehs functionality to your benefit. Uie formulas. - Use greper formats for schedele, following the relerenced textbook examples (induding titles) - Use correct number formats (5,%, general) and underscoring where aperopriate - Double-check your workl Verify your formalas and logic! Cautions Students found to have copied work from ar shared work with a peer will receive a zero for this assignment and be referred to the Dean of Students for Academic Discipline. 37 Direct Labor 8 Costs 38 Time per Unit Production 39 Pay Rate/Hour $2020.00 41 Manufacturing Overhead Costs 42. Voriable costs per direct labor hour 43 Indirect materials 44. Indirect labor 45 Utilities 46 Maintenance 47 Fixed costs per month 48 Salaries 49 Depreciation 50 Property taxes 51 Insurance 52 Janitorial \begin{tabular}{rr} 5 & 0.30 \\ 0.45 \\ 0.45 \\ 0.25 \\ 5 & 42,000 \\ & 16,800 \\ 2,675 \\ 1,200 \\ 1,300 \\ \hline \end{tabular} Selling and Administrative Costs Variable costs per unit sold 5 1.45 Fixed costs per month 57 Advertising S6 Insurance 59 Salaries 60 Depreciation 61 Other fixed costs Income Taxes Accrued on Monthly Net income Amounts Accrued Q42021 paid January 2022 $ 15,000 14,000 72,000 25,000 3,000 Cash and Financing Matters Cash Batance, 12/31/2021 2022 Minimum Balance Required 5125,000 775,000 Monthily Orvidends 52.25 per share Outatanding Sheres 45% rounded to nearest dollar 5200,000 Line of Credir Limit Borrowire increment lequired 51,200,000 51,200,0001,000

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