Country Cookin’ Inc. begins the budgeting process for the following year in the 1st quarter of the current year. Download this Excel spreadsheet and use the information it contains to:
- Prepare the sales, production and direct materials budgets for the 1st quarter of next year.
- Determine the budgeted manufacturing cost per unit and prepare the budgeted income statement for January of next year.
- Prepare a flexible budget and performance report.