1.( TCO 2) Russell Company has the following projected account balances for June 30, 20X9:. Prepare a budgeted income statement AND a budgeted balance sheet as of June 30, 20X9.( Points: 25) Russell. Company. has. the. following. projected. account. balances. for. Ju ne. 30,. 20X5: Accounts payable $ 40,000 Sales $ 800,000 Accounts receivable $ 100,000 Capital stock $ 400,000 Depreciation, factory $ 24,000 Retained earnings? Inventories( 5 / 31 & 6 / 30) $ 180,000 Cash $ 56,000 Direct materials used $ 200,000 Equipment, net $ 240,000 Office salaries $ 80,000 Buildings, net $ 400,000 Insurance, factory $ 4,000 Utilities, factory $ 16,000 Plant wages $ 140,000 Selling expenses $ 60,000 Bonds payable $ 160,000 Maintenance, factory $ 28,000 Required a) Prepare. a. budgeted. income. statement. for. June. 20X5. b) Prepare. a. budgeted. balance. sheet. as. of. June. 30,. 20X5.( Points: 25) Balance Sheet 2.( TCO 5) Steven ' s Medical Equipment Company manufactures hospital beds. Its most popular model, Deluxe, sells for $ 5,000. It has variable costs totaling $ 2,800 and fixed costs of $ 1,000 per unit, based on an average production run of 5,000 units. It normally has four production runs a year, with $ 600,000 in setup costs each time. Plant capacity can handle up to six runs a year for a total of 30,000 beds. A competitor is introducing a new hospital bed similar to Deluxe that will ……..?( Points: 25) 3.( TCO 7) Dulce Greeting Cards Incorporated is starting a new business venture and is in the process of evaluating its product lines. Information for one new product, traditional parchment grade cards, is as follows: ∙ For 16 times each year, a new card design will be put into production. Each new design will require $ 300 in setup costs. ∙ The parchment grade card product line incurred $ 75,000 in development costs and is expected to be produced over the next four years. ……………( Points: 254.( TCO 8) Novacar Company manufactures automobiles. The red car division sells its red cars for $ 25,000 each to the general public. The red cars have manufacturing costs of $ 12,500 each for variable and $ 5,000 each for fixed costs. The division ' s total fixed manufacturing costs are $ 25,000,000 at the normal volume of 5,000 units. …………………………….( Points: 25)