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Required: Prepare a master budget for the three-month period ending June 30 . Include the following detalied schedules: 1. A. A sales budget, by month and in totol. b. A schedule of expected cash collections, by month and in total. c. A merchandise purchases budget in units ond in dollars. Show the budget by month and in tota! d. A schedule of expected cash disbursements for merchandise purchases, by month and in total. 2. A cash budget. Show the budget by month and in total. Determine any borrowing that would be needed to maintain the minimum cosh balance of $62.000 3. A budgeted income statement for the three-month period ending June 30. Use the contribution approach. 4. A budgeted balance sheet as of June 30 . Complete this question by entering your answers in the tabs below. Prepare a master budget for the three-month period ending June 30 that includes a budgeted income statement for the threemonth period ending June 30 . Use the contribution approach. Required: Prepare a master budget for the three-mionth penod ending June 30 . Include the following detalled schedules: 1. A sales budget, by month and in total b. A schedule of expected cash collections, by month and in total C. A merchandise purchases budget in units and in doliars. Show the budget by month and in total. d. A tchedule of expected cash dibursements for merchandise purchases, by month and in total. 2. A cash budget. Show the budget by month and in total. Determine any borrowing that would be needed to malntain the minimum cash balance of $52,000. 3. A budgeted income statement for the three month period ending fune 30 Uste the contribution approdch. 4. A budgeted balance theet as of June 30 . Complete this question by entering your answers in the tabs below. Prepare a master budget for the threermonth period ending June 30 that includes a merchandise purchases budget in units and in dollars. Show the budget by month and in total, (Hosind unis cost to 2 decirnal placess) You have just been hired as a new management trainee by Eamings Unilmited, a distributor of earrings to various retail outlets located in stopping malls across the country. In the past, the company has done very intle in the way of budgeting ond of certain times of the year has experienced a shortage of cash. Since you are well trained in budgeting, you bove decided to prepare a master budget for the upcoming second quater. To this end, you have worked with accounting ond othet areas to gather the information assembled below. The company selis many styles of earrings, but all are sold for the same price- 516 per pair. Actual sales of eartings for the iast three months and budgeted sales for the next sox months follow (in pairs of earringst) The concentration of soles before and during May is due to Mother's Day, Sufficient inventory should be on hand at the end of each month to supply 405 of the earrings sold in the following month Suppliers are paid 35.20 for a par of earrings. Ope-hail of a months purchases is paid for in the month of purchase, the other haif is paid for in the following month. All sales are on cledit. Only 20% of a month's sales are collected in the month of sale. An additional 70 is colected in the following month, and the remaining 10N is collected in the second month following sale. Bad debts have been negligible. Morahly operating expenses for the company are given below! Incurance is paid on an annus basis, in November of each year. The company plans to purchase $22,000 in new equipment during May and $52,000 in new equipment during June; both purchases Wilf be for cain the compary deciaret dividends of $24,000 each quarter, payable in the first month of the followilg quarter The comparys balance sheet as of March 31 is given below: The compary maintains a mirumum cosh baiance of $62.000. All borrowing is done at the beginrung of a month, any repayments are mode of the end of a month. The company has an sgeement with a bank that allows the compary to bocrow in increments or $1.000 at die begirnng of each increments of $1000, while stit retaining at leas $62,000 in cash. Required: Required: Prepare a master budget for the three-month period ending June 30 . Include the following deralled schedules: 1. a. A sales budget, by month and in total b. A schedule of expected cash collections, by month and in total. c. A merchandise purchases budget in units and in dollars. Show the budget by month and in total d. A schedule of expected cash disbursements for merchandise purchases, by month and in total. 2. A cash budget. Show the budget by month and in total. Determine any borrowing that would be needed to maintain the minimum cash batance of $62.000. 3. A budgeted income statement for the three-month period ending June 30 . Use the contribution approach. 4. A budgeted balance sheet as of June 30 Complete this question by entering your answers in the tabs below. Prepare a master budget for the three-month period ending June 30 that includes a sales budget, by month and in total. Required: Prepare a master budget for the three-month peciod ending June 30 , Include the following detailed schedules. 1. a. A sales budget. by month and in total. b. A schedule of expected cash collections, by month and in total. c. A merchandise purchases budget in units and in dollars. Show the budget by month and in total d. A schedule of expected cash disbursements for merchandive purchoses, by month and in total 2. A cash budpet show the budget by month and in total. Determine any borrowing that would be needed to maintain the minimum cast balance of $52.000 3. A budgeted income statement for the three-month period ending June 30. Use the contribution approach. A. A budgeted balance sheet as of June 30 Complete this question by entering your answers in the tabs below. Prepare a master budget for the tiree-inonth period ending June 30 that includes a schedule of expected cash collections, by month and in total. Hequired: Prepare a master budget for the three-month period ending June 30 . Include the following detalled schedules 1. a. A sales budget, by month and in total. b. A schedule of expected cash collections, by month and in total C. A merchandise purchases budget in units and in dollers. Show the budget by month and in total d. A schedule of expected cash disbursements for merchandise purchases, by month and in total 2. A cash budget Show the budget by month and in total. Determine any borrowing that would be needed to maintain the minintum cash balance or $62,000 3. A budgeted income statement for the three-month period ending June 30. Use the contribution approach. 4. A budgeted batance sheet as of June 30 . Complete this question by entering your answers in the tabs below. Prepare a master budget for the three-month period ending June 30 that includes a budgeted balance sheet at of June 30 . Required: Prepare a master budget for the three-month period ending June 30 . Include the following detalled schedules: 1. a. A sales budget, by month and in total. b. A schedule of expected cash collections, by month and in total. c. A merchandise purchases budget in units and in dollars. Show the budget by month and in total. d. A schedule of expected cash disbursements for merchandise purchases, by month and in total. 2. A cosh budget. Show the budget by month and in total. Determine any borrowing that would be needed to malntain the minimum cash balance of $62,000. 3. A budgeted incorrie statement for the three-month period ending June 30 . Use the contribution approach. 4. A budgeted balance sheet as of June 30 Complete this question by entering your answers in the tabs below. Prepare a master budget for the three-month period ending June 30 that includes a schedule of expected cash disbursements for merchandise purchases, by month and in total. Required: Prepare a master budiget for the three-month period ending June 30 . Include the following detailed schedules: 1: A sales budget, by month and in total. b. A schedule of expected cash collections, by month and in total CA merchandtse purchases budget in units and in dollars. Show the budget by month and in total. d. A schedule of expected cash disbursements for merchandise purchases, by month and in total 2. A cash budget Show the budget by month and in total. Determine any borrowing that would be needed to maintain the minimum cosh balance of $62.000 3. A budgeted income statement for the three-month period ending June 30 . Use the contribution approach. 4. A budgeted balance sheet as of June 30 . Complete this question by entering your answers in the tabs below. Prepare a muster budget for the three-month period ending June 30 that includes a cash budget. Show the budget by month and in total, Oetermine ary borrowing that would be needed to maintain the minimum cash balance of 562,000 . (Cash deficiensy, repayments and interest should be indicated by a minus sign.)

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