BUS 630 Week 4 Assignment Master Budget Exercise

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BUS 630 Week 4 Assignment Master Budget
Exercise To purchase this material
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30-Week-4-Assignment-Master-Budget-Exercise Compl
ete the following three exercises and submit to
your instructor. Be sure to show your work for
calculations to earn full credit.Sales and
Production Budgets (8-12) The marketing
department of Jessi Corporation has submitted the
following sales forecast for the upcoming fiscal
year (all sales are on account)   1st Quarter 2nd
 Quarter 3rd Quarter 4th Quarter Units to be
produced 11,000 12,000 14,000 13,000 The
selling price of the company's product is 18.00
per unit. Management expects to collect 65 of
sales in the quarter in which the sales are made,
30 in the following quarter, and 5 of sales are
expected to be "'uncollectible. The beginning
balance of accounts receivable, all of which is
expected to be collected in the first quarter, is
70,200. The company expects to start the first
quarter with 1,650 units in finished goods
inventory. Management desires an ending finished
goods inventory in each quarter equal to 15 of
the next quarter's budgeted sales.
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The desired ending finished goods inventory for
the fourth quarter is 1,850 units.         
Prepare the company's sales budget and schedule
of expected cash collections.          Prepare
the company's production budget for the upcoming
fiscal year. Direct Materials and Direct Labor
Budgets (8-13) The production department of
Hareston Company has submitted the following
forecast of units to be produced by quarter for
the upcoming fiscal year   1st Quarter 2nd Quarte
r 3rd Quarter 4th Quarter Units to be
produced 7,000 8,000 6,000 5,000 In addition,
the beginning raw materials inventory for the
first quarter is budgeted to be 1,400 pounds and
the beginning accounts payable for the first
quarter is budgeted to be 2,940. Each unit
requires 2 pounds of raw material that costs
1.40 per pound. Management desires to end each
quarter with an inventory of raw materials equal
to 10 of the following quarter's production
needs. The desired ending inventory for the
fourth quarter is 1,500 pounds. Management plans
to pay for 80 of raw material purchases in the
quarter acquired and 20 in the following
quarter. Each unit requires 0.60 direct
labor-hours and direct labor-hour workers are
paid 14.00 per hour.   Prepare the company's
direct materials budget and schedule of expected
cash disbursements for purchases of materials for
the upcoming fiscal year.   Prepare the
company's direct labor budget for the upcoming
fiscal year, assuming that the direct labor
workforce is adjusted each quarter to match the
number of hours required to produce the
forecasted number of units produced.
3
Direct Labor and Manufacturing Overhead Budgets
(8-14) The production department of Raredon
Corporation has submitted the following forecast
of units to be produced by quarter for the
upcoming fiscal year   1st Quarter 2nd Quarter 3r
d Quarter 4th Quarter Units to be
produced 12,000 14,000 13,000 11,000 Each unit
requires 0.70 direct labor-hours, and direct
labor-hour workers are paid 10.50 per hour.In
addition, the variable manufacturing overhead
rate is 1.50 per direct labor-hour. The
fixedmanufacturing overhead is 80,000 per
quarter. The only noncash element of
manufacturing overhead is depreciation, which is
22,000 per quarter.  Prepare the company's
direct labor budget for the upcoming fiscal year,
assuming that the direct labor workforce is
adjusted each quarter to       match the number
of hours required to produce the forecasted
number of units produced.   Prepare the
company's manufacturing overhead
budget. Carefully review the Grading Rubric for
the criteria that will be used to evaluate your
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