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Roletter Company makes and sells artistic frames for pictures of weddings, graduations, and other special events

Accounting

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Roletter Company makes and sells artistic frames for pictures of weddings, graduations, and other special events. Bob Anderson, the controller, is responsible for preparing Roletter's master budget and has accumulated the following information for 2021: July 10,000 Estimated sales in units Selling price per unit Direct manufacturing labor hours per unit wage per direct manufacturing labor-hour Number of D.M parts needed to produce one unit Cost of D.M per part January 10,000 54 2 12 2 5 February 14,000 50.5 2 12 2 5 March 7,000 50.5 1.5 12 2 5 Expected information for 2021 April May 8,000 8,000 50.5 50.5 1.5 1.5 13 13 2 2 5 5 5 June 8,000 50.5 1.5 13 2 5 1,000 800 800 8 8 15,000 8,000 1,400 700 800 20% of next month expected units sold 6 6 6 15,000 15,000 20,000 8,000 8,000 8,000 6 20,000 8,000 6 20,000 8,000 the allocation base for manu. Overhead is units produced Desired ending inventory of direct material parts Desired ending inventory of finished goods units Vriable Manu. Overhead per unit Fixed manufacturing overhead Selling and administrative expense Depreciation on manufacturing equipment (included in fixed manu. Overhead cost) Depreciation on office equipment (included in S & A exp) purchase of manu. Equipment that has a useful life of 6 Iyears and no residual value 5,000 5,000 5,000 10,000 10,000 10,000 1,000 1,000 1,000 1,000 1,000 1,000 30,000 You know the following information for the month of dec. 2020 Sales revenue D.M purchases 500,000 50,000 Cash D.M inventory (units) equipment (net) F.G inventory (units) 400 Retained earnings S.C.O You know the following information on Dec.31.2020 10,000 1,200 318,460 80,000 207,023 The company expected that it will collect 90% of each month revenue in cash and the rest will be collected in the next month. The company also had a policy of paying all costs in cash as incurred exept direct material in which it pays only 40% of each month purchases in cash and the rest is paid in the next month Required : Prepare the budgeted balance sheet for the semi-annual period ending in June 30.2021