Prepare the following budgets for Washington Cedar Furniture Ltd

PART A: Operating Budgets (60 marks) Prepare the following budgets for Washington Cedar Furniture Ltd, for the quarter ending December 31, 2016.

I. Revenues Budget

II. Production Budget

III. Direct Materials Usage Budget

IV. Direct Materials Purchases Budget

V. Direct Manufacturing Labor Budget

VI. Manufacturing Overhead Budget

VII. Ending Inventories Budgets (Direct Materials and Finished Goods)

VIII. Cost of Goods Sold Budget IX. Budgeted Income Statement All budgets must be prepared on a monthly basis (that is, all budgets must show a monthly breakdown and totals where applicable). All budgets and supporting schedules must be neatly presented (students could use Excel workbook to do all the calculations).