Question
10

The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2019. ZIGBY MANUFACTURING Esti
To prepare a master budget for April, May, and June of 2019, management gathers the following Information a. Sales for March
Prepare the following budgets and other financial Information as required. All budgets and other financial Information should
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Req
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Req
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Req
Complete this question by entering your answers in the tabs below. Re Required 1 Required 2 Required 3 Required 4 Required s
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Req
Complete this question by entering your answers in the tabs below. Required 1 RE Required 2 Required 3 Required 4 Required 5
10 Cach budget. (Negative balances and Loan repayment amounts (if any) should be indicated with inson) Caloutation of Cach ro
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omework Budgeted Balance Sheet June 30, 2019 Assets 0 Total current assets O Equipment, net Total assets Liabilities and Equi
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Answer #1
Solution 1:
ZIGBY MANUFACTURING
Sales Budget
April, May, and June 2019
Budgeted Unit Sales Budgeted Unit Price Budgeted Sales Dollars
Apr-19 22800 $24.00 $547,200.00
May-19 16000 $24.00 $384,000.00
Jun-19 23000 $24.00 $552,000.00
Totals for the second quarter 61800 $24.00 $1,483,200.00
Solution 2:
ZIGBY MANUFACTURING
Production Budget
April, May, and June 2019
April May June
Next month's budgeted sales (units) 16000 23000 22800
Ratio of inventory to future sales 70% 70% 70%
Desired ending inventory 11200 16100 15960
Budgeted sales units 22800 16000 23000
Required units of available production 34000 32100 38960
Beginning inventory 15960 11200 16100
Units to be produced 18040 20900 22860
Solution 3:
ZIGBY MANUFACTURING
Raw Materials Budget
April, May, and June 2019
April May June
Production budget (units) 18040 20900 22860
Raw material per unit 0.5 0.5 0.5
Materials needed for production 9020 10450 11430
Desired ending inventory 5225 5715 5500
Total materials requirements (units) 14245 16165 16930
Beginning inventory 4510 5225 5715
Materials to be purchased 9735 10940 11215
Material price per unit $20.00 $20.00 $20.00
Budgeted raw material purchases $194,700.00 $218,800.00 $224,300.00
Solution 4:
ZIGBY MANUFACTURING
Direct Labor Budget
April, May, and June 2019
April May June Total
Budgeted production (units) 18040 20900 22860 61800
Direct labor hour per unit 0.5 0.5 0.5 0.5
Total labor hours needed 9020 10450 11430 30900
Direct labor rate per hour $11.00 $11.00 $11.00 $11.00
Budgeted direct labor cost $99,220.00 $114,950.00 $125,730.00 $339,900.00
Solution 5:
ZIGBY MANUFACTURING
Factory overhead Budget
April, May, and June 2019
April May June Total
Labor hours needed 9020 10450 11430 30900
Variable overhead rate per hour $4.20 $4.20 $4.20 $4.20
Budgeted variable overhead $37,884.00 $43,890.00 $48,006.00 $129,780.00
Budgeted fixed overhead $35,020.00 $35,020.00 $35,020.00 $105,060.00
Budgeted total overhead $72,904.00 $78,910.00 $83,026.00 $234,840.00
Note: I have answered more than required parts as HOMEWORKLIB RULES policy, kindly post separate question for answer of remaining parts.
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