Professional Documents
Culture Documents
) Direct Materials Budget 1st Quarter budgeted units to be produced units of materials/ unit of output Raw materials needed to meet the production schedule Add: desired ending inventory of raw materials Total raw material needs Less: beginning inventory of raw materials Raw materials to be purchased cost of raw materials per gram cost of raw materials to be purchased 5000 8 40000 16000 56000 6000 50000 1.2 60000
Schedule of Expected Cash Disbursements for Materials 1st Quarter Accounts Payable, beginning balance 2880 1st quarter purchases 36000 2nd quarter purchases 3rd quarter purchases 4th quarter purchases Total Cash Disbursements for Materials 38880
2.) budgeted units to be produced direct labor hours per unit total direct labor hours needed direct labor cost per hour Total direct labor costs
Direct Labor Budget 1st Quarter 5000 0.2 1000 11.5 11500
2nd Quarter 8000 8 64000 14000 78000 16000 62000 1.2 74400
3rd Quarter 7000 8 56000 12000 68000 14000 54000 1.2 64800
4th Quarter 6000 8 48000 8000 56000 12000 44000 1.2 52800
3rd Quarter
4th Quarter
68640
1.)
Schedule 1 Schedule of Expected Cash Collections from Sales Accounts receivable, beginning balance cash sales credit sales collected in May Total Cash Collections Schedule 2 Schedule of Expected Cash Disbursements for Merchandise Purchases Accounts payable, beginning balance purchases on account paid in May Total Cash Disbursements
Minden Company Cash Budget For the month ended May,200x Cash Balance,beg. Add receipts: Collections from customers (schedule 1) Total Cash Available Less Disbursements: Merchandise Purchases (schedule 2) Selling and Adminstrative Expense Equipment Purchases Total Disbursements Excess (deficiency ) of cash available over disbursements Financing: Borrowings Repayments Interest Total financing Cash balance, ending
2.)
Minden Company Budgeted Income Statement For the month ended May,200x Sales Cost of Goods Sold (Sched.1) Gross Margin Selling and Adminstrative Expense
Net Operating Income Interest Expense Net Income Schedule 1 Beg. Inventory Purchases Total Goods Available for sale Ending Inventory Cost of Goods Sold
3.)
Minden Company Budgeted Balance Sheet May 31, 200x ASSETS Cash Accounts Receivable Inventory Buildings and equipment,net of depreciation TOTAL ASSETS LIABILITIES and SHAREHOLDERS' EQUITY Accounts Payable Note Payable Capital Stock, no par Retained Earnings TOTAL LIABILITIES and SHAREHOLDERS' EQUITY
Company Budget ended May,200x 9000 184000 193000 111000 72000 6500 189500 3500 20000 -14500 -100 5400 8900
1.) a. Sales Budget budgeted sales (in pairs of earrings) Selling price per pair Total Sales Schedule of Expected Cash Collections from Sales Accounts receivable, beginning balance April May June Total Cash Collections c. Merchandise Purchases Budget Budgeted Sales Add: desired ending inventory Total needs Less: Beginning inventory Required purchases cost per pair of earrings cost of merchandise purchases d. Schedule of Expected Cash Disbursements for Merchandise Purchases
b.
Accounts Payable, beginning balance April May June Total Cash Disbursements 2.) Earrings Unlimited Cash Budget For the quarter ended , June 30 200x Cash Balance,beg. Add receipts: Collections from customers Total Cash Available Less Disbursements: Merchandise Purchases Selling and Adminstrative Expense
Equipment Purchases Dividends Total Disbursements Excess (deficiency ) of cash available over disbursements Financing: Borrowings Repayments Interest Total financing Cash balance, ending 3.) Earrings Unlimited Budgeted Income Statement For the quarter ended , June 30 200x Sales Variable Cost of Sales Manufacturing Margin Variable Selling and Administrative Expenses Contribution Margin Fixed Selling and Administrative Expenses: Advertising Rent Salaries Utilities Insurance Depreciaton Net Operating Income Interest Expense Net Income 4.) Earrings Unlimited Budgeted Balance Sheet June 30, 200x ASSETS Cash Accounts Receivable Inventory Prepaid Insurance Property and Equipment, net TOTAL ASSETS LIABILITIES and SHAREHOLDERS' EQUITY Accounts Payable Dividends Payable
436000
June
258000
rings Unlimited Cash Budget ter ended , June 30 200x April 74000 436000 510000 258000 357000
170000 50000
10000 50000
ited tatement June 30 200x 2150000 860000 1290000 86000 1204000 600000 54000 318000 21000 9000 42000
ited e Sheet x
84000 15000