Question

The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2019. ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2019 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory Total current assets Equipment Accumulated depreciation Equipment, net Total assets Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term note payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and equity 65,000 437,760 90,200 308,028 900,988 630,000 (165,000) 465,000 $ 1,365,988 $ 204,500 27,000 231,500 515,000 746,500 350,000 269,488 619,488 $ 1,365,988 To prepare a master budget for April, May, and June of 2019, management gathers the following information.
I just need help with #8. Please tell me what additional information you need

Answer 1

Answer to Requirement 1. ZIGBY MANUFACTURING Sales Budget April May 22,800 16,000 24.00 24.00 547,200.00 384,000.00 Budgeted Unit Sales Budgeted Unit Price Budgeted Total Sales (in Dollars) June 23,000 24.00 552,000.00 Total 61,800 24.00 1,483,200.00 Answer to Requirement 2. June Total Next Month's Budgeted Sales Ratio of Inventory to Future Sales Budgeted Ending Inventory Budgeted Unit Sales for Month Required Units of Available Production Beginning Inventory Units to Produced ZIGBY MANUFACTURING Production Budget April May 16,000 70% 11,200 22,800 34,000 15,960 18,040 23,000 70% 16,100 16,000 32,100 11,200 20,900 22,800 70% 15,960 23,000 38,960 16,100 22,860 61,800

Total Answer to Requirement 3. ZIGBY MANUFACTURING Raw Materials Budget April May Production Budget (Units) 18,040 20,900 Material Requirements per unit 0.50 0.50 Materials needed for Production 9,020 10,450 Budgeted Ending Inventory 5,225 5,715 Total Material Requirements (units) 14,245 16,165 Beginning Inventory 4,510 5,225 Materials to be purchased 9,735 10,940 Material price per unit 20.00 20.00 Total Cost of Direct Materials Purchases | 194,700.00 218,800.00 June 22,860 0.50 11,430 5,500 16,930 5,715 11,215 20.00 224,300.00 31,890 21.00 669,690.00 Answer to Requirement 4. June Total Budgeted Production (Units) Labor Requirement per unit (Hours) Total Labor Hours needed Labor Rate (per hour) Labor Dollars ZIGBY MANUFACTURING Direct Labor Budget April May 18,040 20,900 0.50 0.50 9,020 10,450 11.00 11.00 99,220.00 114,950.00 22,860 0.50 11,430 11.00 125,730.00 30,900 15.00 339,900.00

Answer to Requirement 5. Total Labour Hours needed Variable Factory Overhead Rate Budgeted Variable Overhead Budgeted Fixed Overhead Budgeted Total Overhead Answer to Requirement 6. ZIGBY MANUFACTURING Factory Overhead Budget April May 10,450 4.20 4.20 37,884.00 43,890.00 35,020.00 35,020.00 72,904.00 78,910.00 June 11,430 4.20 48,006.00 35,020.00 83,026.00 129,780.00 105,060.00 234,840.00 Total Budgeted Sales Sales Commission percent Sales Commissions Sales Salaries Total Selling Expenses ZIGBY MANUFACTURING Selling Expenses Budget April May 547,200 384,000 10% 10% 54,720 38,400 4,500 4,500 59,220 42,900 June 552,000 10% 55,200 4,500 59,700 148,320 13,500 161,820

Answer to requirement 7. June Total Salaries Interest on Long-Term Note Total Expenses ZIGBY MANUFACTURING General and Administrative Expenses Budget April May 27,000 27,000 3,090 3,090 30,090 30,090 27,000 3,090 30,090 81,000 9,270 90,270 Answer to requirement 8. June Total Budgeted Sales Cash Sales Sales on Credit Calculation of Cash Receipts from Customers: April May 547,200 384,000 20% 109,440 76,800 80% 437,760 307,200 552,000 110,400 441,600 Current Month's Cash Sales Collection of Receivables Total Cash Receipts Total Cash Receipts from Customers April May 109,440 76,800 437,760 437,760 547,200 514,560 June 110,400 307,200 417,600

May 154,016 514,560 668,576 June 217,046 417,600 634,646 ZIGBY MANUFACTURING Cash Budget April Beginning Cash Balance 65,000 Cash Receipts from Customers 547,200 Total cash Available 612,200 Cash Disbursements: Payment of Raw Materials 204,500 Payment of Direct Labor 99,220 Payment of Variable Overhead 37,884 Sales Commission 54,720 Sales Salaries 4,500 General and Administrative Salaries 27,000 Dividend Loan Interest 270 Long-Term Notes Interest 3,090 Purchase of Equipment Total Cash Disbursements 431,184 Preliminary Cash Balance 181,016 Additional Loan (Loan Repayment) -27,000 Ending Cash Balance 154,016 LOAN BALANCE April Loan Balance- Beginning of Month 27,000 Additional Loan (Loan Repayment) -27,000 Loan Balance-End of Month 194,700 114,950 43,890 38,400 4,500 27,000 25,000 218,800 125,730 48,006 55,200 4,500 27,000 3,090 451,530 217,046 3,090 145,000 627,326 7,320 47,680 55,000 217,046 May June 47,680 47,680