ACCT 210 Budget Assignment		Name: ________________________________
Facts:
1. Sales Q1 37,000 bags and Q2 45,000 bags. Price per unit $75
2. Direct materials per Widget product: 6 lbs Part A ($1.20 per lb) & 7 lbs Part B ($1.00 per lb)
3. Desired Inventory
	Beginning	Q1 Ending	Q2 Ending
Widget	6,000	11,000	13,000	(in units)
DM: Part A	8,000	9,000	11,000	(in lbs)
DM: Part B	9,000	10,000	12,000	(in lbs)
4. Direct labor is 30 minutes per unit at $17 per hour
5. Selling and Admin Costs = 12.5% of Sales + $180,000 Fixed each quarter
6. Income taxes = 28% of Income from Operations
7. Mfg OH is 170 % of Direct labor
REQUIRED: Complete the budget by hand. Typed answers will not be accepted.
Sales Budget	Quarter 1	Quarter 2	Six month total
Expected Sales (units)
Unit Selling Price
Total Sales
Production Budget
	Quarter 1	Quarter 2	Six month total
Expected Sales (units)
Desired Ending Finished Goods
Total Units Required
Beginning Finished Goods
Required Production Units
Direct Materials Budget Part A
	Quarter 1	Quarter 2	Six month total
Units Produced
Direct Material Pounds per Unit
Total Pounds Needed
Add Desired Ending Inventory
Total Part A Material Needed
Less Beginning Inventory
Direct Material Purchases
Cost per Pound
Total Cost Direct Materials Part A
Direct Materials Budget Part B
	Quarter 1	Quarter 2	Six month total
Units Produced
Direct Material Pounds per Unit
Total Pounds Needed
Add Desired Ending Inventory
Total Part B Material Needed
Less Beginning Inventory
Direct Material Purchases
Cost per Pound
Total Cost Direct Materials Part B
Direct Labor Budget
	Quarter 1	Quarter 2	Six month total
Units Produced
Direct Labor per unit
Total Hours Required
Direct Labor Cost per Hour
Total Direct Labor Cost
Selling and Admin Budget
	Quarter 1	Quarter 2	Six month total
Variable Costs
Fixed Costs
Total
COGS per Bag	Units	Unit cost	Total
Direct Materials Part A
Direct Materials Part B
Direct Labor
MFG Overhead
Budgeted Income Statement
	Six month total
Sales
Cost of Goods Sold
Gross Profit
Selling and Admin
Income from Operations
Income Tax Expense
Net Income