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Croy Inc. has the following projected sales for the next five months: Month April May Sales in Units 3,560 3,920 4,560 4,140 3,940 June July August Croy's finished goods Inventory policy is to have 50 percent of the next month's sales on hand at the end of each month. Direct materials costs $3.10 per pound, and each unit requires 2 pounds. Direct materials inventory policy is to have 50 percent of the ne month's production needs on hand at the end of each month. Direct materials on hand at March 31 totaled 3,740 pounds. Required: 1. Determine budgeted production for April, May, and June 2. Determine budgeted cost of materials purchased for April and May. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine budgeted production for April, May, and June. (Do not round your intermediate calculations and round your final answers to the nearest whole number.) April May June Budgeted Production (Units) Required 2 > Budget Order of Preparation Cash budget Selling and administrative expense budget. Manufacturing overhead budget. Direct materials purchases budget. Budgeted balance sheet. Sales budget. Direct labor budget. Budgeted income statement. Budgeted cost of goods sold. Production budget. Galactic Inc, manufactures flying drone toys. Budgeted Production units for January, February, and March were 295, 298, and 342 respectively. Each unit requires 3 direct labor hours and Galactic's hourly labor rate is $15 per hour. The company's variable overhead Is $4.00 per unit produced and its fixed overhead is $5,500 per month Required: 1. Determine the Galactic's direct labor budget for the first quarter. 2. Determine the Galactic's manufacturing overhead budget for the first quarter Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the Galactie's direct labor budget for the first quarter. Jan Feb Mar Budgeted Direct Labor Cost 1st Quarter Required 2 > The following Information is available for Ploneer Company: Sales price per unit is $80. . November and December, sales were budgeted at 2,960 and 3,470 units, respectively. Variable costs are 10 percent of sales (4 percent commission, 1 percent advertising, 5 percent shipping) . Fixed costs per month are sales salaries, $4,800; office salaries, $2,700, depreciation, $2,100; bullding rent, $3,000; Insurance, $1,500; and utilities, $700. Required: Determine Pioneer's budgeted selling and administrative expenses for November and December. November December Total Budgeted Selling and Administrative Expenses Required information SB Problem PA8-1 to PA8-3 (The following information applies to the questions displayed below.) Iguana, Inc., manufactures bamboo picture frames that sell for $25 each. Each frame requires 4 linear feet of bamboo, which costs $2.50 per foot. Each frame takes approximately 30 minutes to build, and the labor rate averages $14 per hour. Iguana has the following Inventory policies: - Ending finished goods Inventory should be 40 percent of next month's sales. Ending direct materials inventory should be 30 percent of next month's production. Expected unit sales (frames) for the upcoming months follow. 370 440 490 June July August Variable manufacturing overhead is incurred at a rate of $0.40 per unit produced. Annual fixed manufacturing overhead is estimated to be $7,200 (5600 per month) for expected production of 4,500 units for the year. Selling and administrative expenses are estimated at $650 per month plus $0.50 per unit sold. Iguana, Inc., had $11,200 cash on hand on April 1. Of its sales, 80 percent is in cash. Of the credit sales, 50 percent is collected during the month of the sale, and 50 percent is collected during the month following the sale. Of direct materials purchases, 80 percent is paid for during the month purchased and 20 percent is paid in the following month. Direct materiais purchases for March 1 totaled $4,500. All other operating costs are paid during the month Incurred. Monthly foxed manufacturing overhead includes $340 in depreciation. During April, Iguana plans to pay $3,500 for a plece of equipment Martin Clothing Company is a retall company that sells hiking and other outdoor gear specially made for the desert heat. It sells to Individuals as well as local companies that coordinate adventure getaways in the desert for tourists. The following Informations available for several months of the current year: Ronen Nay $ Salen 97.000 124,000 131,000 126,000 Canh Expenses Durchases Paid 61.000 $ 21,000 9,000 23,500 111,000 35,500 76.000 31,500 July August The majority of Martin's sales (70 percent) are cash, but a few of the excursion companies purchase on credit of the credit sales, 45 percent are collected in the month of sale and 55 percent are collected in the following month. All of Martin's purchases are on account with 55 percent paid in the month of purchase and 45 percent pald the following month. Required: 1. Determine budgeted cash collections for July and August. 2. Determine budgeted cash payments for July and August. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine budgeted cash collections for July and August. (Round your intermediate calculations and final answers to nearest whole dollar) July August Budgeted Cash Collections Required 2 > [The following information applies to the questions displayed below.) Iguana, Inc., manufactures bamboo picture frames that sell for $25 each. Each frame requires 4 linear feet of bamboo, which costs $2.00 per foot. Each frame takes approximately 30 minutes to build, and the labor rate averages $12.00 per hour. Iguana has the following inventory policies: Ending finished goods Inventory should be 40 percent of next month's sales. Ending direct materials Inventory should be 30 percent of next month's production. Expected unit sales (frames) for the upcoming months follow: 275 250 March April May June July August 300 400 375 425 Variable manufacturing overhead is incurred at a rate of $0.30 per unit produced. Annual fixed manufacturing overhead is estimated to be $7,200 ($600 per month) for expected production of 4,000 units for the year. Selling and administrative expenses are estimated at $650 per month plus $0.60 per unit sold. Iguana, Inc., had $10,800 cash on hand on April 1. Of its sales, 80 percent is in cash. Of the credit sales, 50 percent is collected during the month of the sale, and 50 percent is collected during the month following the sale. Of direct materials purchases, 80 percent is paid for during the month purchased and 20 percent is paid in the following month. Direct materials purchases for March 1 totaled $2,000. All other operating costs are paid during the month Incurred. Monthly foxed manufacturing overhead includes $150 in depreciation. During April, Iguana plans to pay $3,000 for a piece of equipment PA8-3 (Static) Preparing Cash Budget [LO 8-4] Required: 1. Compute the budgeted cash receipts for Iguana. 2. Compute the budgeted cash payments for Iguana. 3. Prepare the cash budget for iguana. Assume the company can borrow in increments of $1,000 to maintain a $10,000 minimum cash balance

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