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Prepare a budgeted balance sheet at december 31-2008

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Reference no: EM13507363

1. Prepare a monthly master budget for ToyWorks for the year ended December 31, 2008, including the following schedules:

Sales Budget & Schedule of Cash Receipts

Production Budget

Direct Materials Budget & Schedule of Cash Disbursements

Direct Labour Budget

Manufacturing Overhead Budget

Ending Finished Goods Inventory Budget

Selling and Administrative Expense Budget

Cash Budget

2. Prepare a budgeted income statement and a budgeted statement of retained earnings for the year ended December 31, 2008, using absorption costing.

3. Prepare a budgeted balance sheet at December 31, 2008.

4. Prepare a budgeted income statement for the year ended December 31, 2008, using variable costing.  Assume the per unit variable cost for 2007 was $6.0520.

Reference no: EM13507363

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