1.

) 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

Year 26000 8 208000 8000 216000 6000 210000 1.2 252000

2nd Quarter 24000 44640

3rd Quarter

4th Quarter

Year 2880 60000 74400 64800 31680 233760

29760 38880 68640

68640

25920 31680 57600

2nd Quarter 8000 0.2 1600 11.5 18400

3rd Quarter 7000 0.2 1400 11.5 16100

4th Quarter 6000 0.2 1200 11.5 13800

Year 26000 0.2 5200 11.5 59800

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

sh Collections from Sales 54000 60000 70000 184000

ements for Merchandise Purchases 63000 48000 111000

Company Budget ended May,200x 9000 184000 193000 111000 72000 6500 189500 3500 20000 -14500 -100 5400 8900

Company me Statement ended May,200x 200000 110000 90000 74000

16000 100 15900

30000 120000 150000 40000 110000

Company alance Sheet 1, 200x 8900 70000 40000 211500 330400

72000 20000 180000 58400 330400

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

Capital Stock Retained Earnings TOTAL LIABILITIES and SHAREHOLDERS' EQUITY

April 65000 10 650000

May 100000 10 1000000

June 50000 10 500000

Total 215000 10 2150000

April 306000 130000

May 40000 455000 200000 695000

June 65000 700000 100000 865000

436000

Total 346000 650000 900000 100000 1996000

April 65000 40000 105000 26000 79000 4 316000

May 100000 20000 120000 40000 80000 4 320000

June 50000 12000 62000 20000 42000 4 168000

Total 215000 12000 227000 26000 201000 4 804000

April 100000 158000

May 158000 160000 318000

June

258000

160000 84000 244000

Total 100000 316000 320000 84000 820000

rings Unlimited Cash Budget ter ended , June 30 200x April 74000 436000 510000 258000 357000

May 50000 695000 745000 318000 371000

June 50000 865000 915000 244000 351000

Total 74000 1996000 2070000 820000 1079000

16000 15000 630000 -120000 170000 705000 40000 10000

40000 635000 280000

56000 15000 1970000 100000 180000 -180000 -5300 -5300 94700

170000 50000

10000 50000

-180000 -5300 -185300 94700

ited tatement June 30 200x 2150000 860000 1290000 86000 1204000 600000 54000 318000 21000 9000 42000

1044000 160000 5300 154700

ited e Sheet x

94700 500000 48000 12000 964000 1618700

84000 15000

800000 719700 1618700