A B D E G H H Yellow-use only cell references Blue-may type numbers here Little Annin Flagmakers Sales Budget (USD) April May June Quarter Expected 2,000 3,000 4,000 2,000 1,000 Budgeted Sales (units): Selling Price per unit: Total Sales: S 125.00 Little Annin Flagmakers Schedule of Expected Cash Collections (USD) April May June Quarter Accounts Receivable Beginning Balance 40% 55% 5% April Sales May Sales 55% 45% June Sales Total Cash Collections Accounts Receivable, June 30: 7 $5.00 0.5 $30.00 $10 $60,000 $20,000 Little Annin Flagmakers Production Budget April May June Quarter July August 1 Input Data (USD) 2 Budgeted sales 4 April (units) 5 May (units) 6 June (units) 7 July (units) 8 August (units) 9 10 Selling Price/unit / 11 12 Cash collection pattern 13 Month of sale 14 Following month 15 Uncollectible 16 17 Cash payments for materials 18 Month of purchase 19 Following month 20 21 Production requirements 22 Raw material per unit (lb) 23 Raw mat. cost per lb 24 Direct labor hours per unit 25 Direct labor rate per hour 26 Variable MOHD per DL hour 27 Fixed MOHD per month 28 Depreciation in Fixed MOHD 29 30 Selling & administrative costs 31 Variable S&A cost per unit sold 32 Fixed S&A cost per month 33 Depreciation in Fixed S&A cost 34 35 Other cash outflows 36 Cash dividends paid each month 37 Equipment purchases May 38 Equipment purchases June 39 40 Desired ending inventory 41 Finished Goods 42 Raw Materials 43 Cash (S) 44 45 Beginning account balances - March 31 46 Cash (S) 47 Accounts Receivable ($) 48 Finished Goods inventory 49 FG cost per unit 50 FG inventory (units) 51 Raw Materials inventory 52 Raw Materials (lb) 53 Accounts Payable (S 54 55 Land 56 Buildings and equipment 57 Accumulated Depreciation 58 Common stock 59 Retained camings 60 Budgeted Sales Add: Desired ending inventory Total Needs Less: Beginning inventory Required Production $1.40 $65,000 $10,000 Little Annin Flagmakers Direct Materials Budget (USD) April May June Quarter $15,000 $45,000 $150,000 20% 45% $35,000 Required Production in units Raw Materials per unit (lbs.) Production Needs (lbs) Add: Desired ending inventory Total Needs Less: Beginning inventory Raw Materials to be purchased Cost of Raw Materials: Total Cost of Raw Materials s S S 57,695 132,000 30.750 $70.00 500 22.250 4,500 65,000 Little Annin Flagmakers Schedule of Expected Cash Disbursements for Material (USD) April May June Quarter S Accounts Payable Beginning Balance S April Purchases May Purchases $520,000 $1,800,000 ($ 750,000) $500,000 $1,247,695 June Purchases Total Cash Disbursements For Materials 61 62 63 64 Accounts Payable, June 30: LVIA IUILISUS OUUUUU ($750,000) $500,000 $1,247,695 June Purchases Total Cash Disbursements For Materials Accounts Payable, June 30: Little Annin Flagmakers Direct Labor Budget (USD) April May June Quarter Units to be produced DL hours per unit Total DL hours needed DL cost per hour Total direct labor cost JU DUDUK uu Lup 57 Accumulated Depreciation 58 Common stock 59 Retained eamings 60 61 62 62 63 64 65 00 66 67 GR 68 09 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 25 87 88 00 89 09 90 91 3 30 92 93 94 Little Annin Flagmakers Manufacturing Overhead Budget (USD) April May June Quarter Budgeted DL hours Variable MOHD rate Total Variable MOHD Fixed MOHD Expense Total MOHD Expense Less: Depreciation Cash disbursements for MOHD M-OHD rate /DLH Little Annin Flagmakers Unit Product Cost (USD) Quantity Cost Cost/unit Absorption cost per unit Direct Materials Direct Labor Manufacturing Overhead Unit Product Cost 95 96 97 98 99 Little Annin Flagmakers Cost of Goods Sold Budget (USD) Units Cost/unit Total Cost Cost of Goods Sold (FIFO) Beg. FG inventory Add: Cost of Goods Mfg'd Good Available for Sale Less: Ending FG inventory Cost of Good Sold Little Annin Flagmakers Selling and Administrative Expense Budget (USD) April May June Quarter 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 Budgeted sales in units Variable S&A per unit Total Variable S&A Total Fixed S&A Total S&A Expense Less: Depreciation Cash Disbursements for S&A Little Annin Flagmakers Cash Budget (USD) April May June Quarter Cash Balance, Beginning: Add: Receipts Cash Collections Total Cash Available Less Disbursements: Direct Materials Direct Labor Manufacturing Overhead Selling and Administrative Dividends Equipment Purchases Total Disbursements Excess (deficiency) of cash available: Financing: Borrowing Repayments Interest Total Financing Cash Balance, ending: Little Annin Flagmakers Budgeted Income Statement (USD) Quarter Ending: June 30 Net Sales Less: Cost of Goods Sold Gross Margin Less: S&A Expenses Net Operating Income Less: Interest Expense Net Income Computation of Net Sales: Sales: Less uncollectible amounts: Net Sales: Little Annin Flagmakers Budgeted Balance Sheet (USD) Ending March 31st Ending June 30th Current Assets: Cash Accounts Receivable Raw Materials Inventory Finished Goods Inventory Plant and Equipment: Land Buildings and Equipment Accumulated Depreciation Total Assets: Liabilities: Accounts Payable Stockholder's Equity: Common Stock Retained Earnings Total Liabilities and stockholder's equity: A B D E G H H Yellow-use only cell references Blue-may type numbers here Little Annin Flagmakers Sales Budget (USD) April May June Quarter Expected 2,000 3,000 4,000 2,000 1,000 Budgeted Sales (units): Selling Price per unit: Total Sales: S 125.00 Little Annin Flagmakers Schedule of Expected Cash Collections (USD) April May June Quarter Accounts Receivable Beginning Balance 40% 55% 5% April Sales May Sales 55% 45% June Sales Total Cash Collections Accounts Receivable, June 30: 7 $5.00 0.5 $30.00 $10 $60,000 $20,000 Little Annin Flagmakers Production Budget April May June Quarter July August 1 Input Data (USD) 2 Budgeted sales 4 April (units) 5 May (units) 6 June (units) 7 July (units) 8 August (units) 9 10 Selling Price/unit / 11 12 Cash collection pattern 13 Month of sale 14 Following month 15 Uncollectible 16 17 Cash payments for materials 18 Month of purchase 19 Following month 20 21 Production requirements 22 Raw material per unit (lb) 23 Raw mat. cost per lb 24 Direct labor hours per unit 25 Direct labor rate per hour 26 Variable MOHD per DL hour 27 Fixed MOHD per month 28 Depreciation in Fixed MOHD 29 30 Selling & administrative costs 31 Variable S&A cost per unit sold 32 Fixed S&A cost per month 33 Depreciation in Fixed S&A cost 34 35 Other cash outflows 36 Cash dividends paid each month 37 Equipment purchases May 38 Equipment purchases June 39 40 Desired ending inventory 41 Finished Goods 42 Raw Materials 43 Cash (S) 44 45 Beginning account balances - March 31 46 Cash (S) 47 Accounts Receivable ($) 48 Finished Goods inventory 49 FG cost per unit 50 FG inventory (units) 51 Raw Materials inventory 52 Raw Materials (lb) 53 Accounts Payable (S 54 55 Land 56 Buildings and equipment 57 Accumulated Depreciation 58 Common stock 59 Retained camings 60 Budgeted Sales Add: Desired ending inventory Total Needs Less: Beginning inventory Required Production $1.40 $65,000 $10,000 Little Annin Flagmakers Direct Materials Budget (USD) April May June Quarter $15,000 $45,000 $150,000 20% 45% $35,000 Required Production in units Raw Materials per unit (lbs.) Production Needs (lbs) Add: Desired ending inventory Total Needs Less: Beginning inventory Raw Materials to be purchased Cost of Raw Materials: Total Cost of Raw Materials s S S 57,695 132,000 30.750 $70.00 500 22.250 4,500 65,000 Little Annin Flagmakers Schedule of Expected Cash Disbursements for Material (USD) April May June Quarter S Accounts Payable Beginning Balance S April Purchases May Purchases $520,000 $1,800,000 ($ 750,000) $500,000 $1,247,695 June Purchases Total Cash Disbursements For Materials 61 62 63 64 Accounts Payable, June 30: LVIA IUILISUS OUUUUU ($750,000) $500,000 $1,247,695 June Purchases Total Cash Disbursements For Materials Accounts Payable, June 30: Little Annin Flagmakers Direct Labor Budget (USD) April May June Quarter Units to be produced DL hours per unit Total DL hours needed DL cost per hour Total direct labor cost JU DUDUK uu Lup 57 Accumulated Depreciation 58 Common stock 59 Retained eamings 60 61 62 62 63 64 65 00 66 67 GR 68 09 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 25 87 88 00 89 09 90 91 3 30 92 93 94 Little Annin Flagmakers Manufacturing Overhead Budget (USD) April May June Quarter Budgeted DL hours Variable MOHD rate Total Variable MOHD Fixed MOHD Expense Total MOHD Expense Less: Depreciation Cash disbursements for MOHD M-OHD rate /DLH Little Annin Flagmakers Unit Product Cost (USD) Quantity Cost Cost/unit Absorption cost per unit Direct Materials Direct Labor Manufacturing Overhead Unit Product Cost 95 96 97 98 99 Little Annin Flagmakers Cost of Goods Sold Budget (USD) Units Cost/unit Total Cost Cost of Goods Sold (FIFO) Beg. FG inventory Add: Cost of Goods Mfg'd Good Available for Sale Less: Ending FG inventory Cost of Good Sold Little Annin Flagmakers Selling and Administrative Expense Budget (USD) April May June Quarter 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 Budgeted sales in units Variable S&A per unit Total Variable S&A Total Fixed S&A Total S&A Expense Less: Depreciation Cash Disbursements for S&A Little Annin Flagmakers Cash Budget (USD) April May June Quarter Cash Balance, Beginning: Add: Receipts Cash Collections Total Cash Available Less Disbursements: Direct Materials Direct Labor Manufacturing Overhead Selling and Administrative Dividends Equipment Purchases Total Disbursements Excess (deficiency) of cash available: Financing: Borrowing Repayments Interest Total Financing Cash Balance, ending: Little Annin Flagmakers Budgeted Income Statement (USD) Quarter Ending: June 30 Net Sales Less: Cost of Goods Sold Gross Margin Less: S&A Expenses Net Operating Income Less: Interest Expense Net Income Computation of Net Sales: Sales: Less uncollectible amounts: Net Sales: Little Annin Flagmakers Budgeted Balance Sheet (USD) Ending March 31st Ending June 30th Current Assets: Cash Accounts Receivable Raw Materials Inventory Finished Goods Inventory Plant and Equipment: Land Buildings and Equipment Accumulated Depreciation Total Assets: Liabilities: Accounts Payable Stockholder's Equity: Common Stock Retained Earnings Total Liabilities and stockholder's equity