Based apon the two images and given information. Is the manufacturing budget specifically, and the other budgets correct.
please explain how to help with MOH budget and S&A budget
Beled Balance Sheet March Sales Budget Budgeted sales in unit Selling price for at Total sales February May YUUU 9000 11000 24UUU 12000 11000 5 16.00 $ 16.00 $ 16.CCS 16.00 $ 16.00 $ 16.CC $ 128,000.00 144.900.00 $ 176,CCC.CC $448,000.00 $ 192.000.00 $ 170,CCC.CC Scrode of Expected Cash Collections Accounts recievable Decemer 31 53600 12000 SEY February March Jerry sales $ 75,800.00 $ 32.000.00 $ 19,2CC.CC Asset Currant assets cash accounts recievable raw materwentory Finished goodwentory Totalcurrent essels 13. Monthly selling and administrative costs are asidin cash. Per month cocts Equipment $ 11,613.221 $ 92,000.00 $ 2.156.00 $ 3.000.0 $ 85,542,73 $ 2,200.00 S 3CC.coon $ 16,433.33 S: anes $15,000 Lies 1 RON Off ce Men 9.000 property and cquipment Total $ 387,742.78 $ 26,CCC.CC $ 100 $ 105,6CC.CC $44.000.00 March Sales $ 17,796.30 $ 26,130.00 Total Cash Collection $ 114,300.00 $ 134,000.00 $ 150,2CC.CC $ 409,800.00 Liabilities and stockholders equity Current liabilites Accounts pays, purchases Stockelvers equity Comman.stock care total stocka dos equity Totalli, Anda beroty $ 80,000.00 $ 238,120.93 Production Huget February march In1 Japril may $ 312,122.93 S 335,925.73 9000 110001 Ludgered Merchanicke purchases: Burleted sales in units Add desired ending inventory Total reeck Less beginning inventory Required production annn 2250 10250 500 9750 2/30 11750 2250 ** S500 11900 9000 140007 27501 11250 2800 | 30 3innn 5500 3050 12000 2730 14750 2000 11750 Retired Parnis at march 31 balance, 1931 Add wat inca ne total loss duidendi declared tablarc march 31 $ 94,425.00 $ 158,703.93 $263.128.93 $ (25,000.00 $ 238,120.93 May 11750 Each allon of dye has the following standard quantities and buss for direct materials and direct later: 16430 Direct matcrials budget Lory 01 April 925 9500 11250 3USUU 1.4 1.41 14 1.41 13650 12200 15730 42200 2660 3150 3799 16310 16450 19240 51900 innn 2660 3150 6810 15310 12790 158901 44990 $42.858.00$ 38,512.00 $ 44,492.CC $ 125,972.00 Production materials per unit production needs Desired ending Inwentary Total needs Less beginning inventory Amount to be purchased Cost 2.8$ Quantity Cos/rate Std Cost Merdant (DMI 1.40 Gal $2.00 $2.80 Direct labor 0.30 Hr $15.99 $4.50 3290 Some evaporatiun luss uccurs during processing. Variable overhead V011) is applied wess machine hours. The processing at I gallonch dretakcs 3 MH. The variablc overhead rate is 50.10 per MH. VOH is entirely of utility costs FOH is applied per vallon based on an cxpected annual capacity of 120.000 expected annual capacity of 120,005 gallons 01 April Nccounts payable december 31 la nuary purchases Cash disbursements tar materials January February March $ 20,200.00 $ 25,720.80 S 7,392.00 $ 17,147.20 $ 23,167.20 $ 15,444.80 $ 26.695.20 rebruary purchases March purches Cash buoce. January February March QI $ 4,000.00 $ 6,000 $ 1,300.CO 2,000.00 $114,800.00 $ 134,000.09 S 150.B0C.CO 5 409,600.00 $ 122,850.00 $ 140,000.00 $ 157,100.CO $ 417,650,00 Cash balarca Add collections froin customers Total cash vallava $ 17,796.30 Total Cachments $ 53,317.80 $ 40,314.40 $ 42,140.00 $ 135,767.20 Production Direct labar ser unit lator hours required uvaran.ee hours labor hours sald hourly rate total direct labor cols Direct labor Budget anus february march 01 9750 9500 11250 30500 1.3 0.3 0.3 2925 2950 2273 9150 420 470 470 2925 2850 4575 10350 S 15.00 $ 15.00 $ 15.00 15.00 543,875.00 $ 42,790.00 $ 50,625.00 $137.250.00 Less disbursements: Purchase of merchandise total direct labor cost Cash paid for MOH Cash paid tar Dividends paid cuipment purchased tatal disements Exess or deficiency Financing: Barrowing Hepayments Interest Totalfinaire Cash balance ending $ 53,312.20 $ 40,314.40 $ 42,140.CO $ 135,767.20 $ 42,97.00 $ 42,750.00 $ 59,425.00 S 137,250.00 $ 15,075.00 $ 14,850.09 S 16,425.CO S 46,350,00 $ 24,800.00 $ 24200.00 $ 24,800.CO $ 74,400.00 $ S 25,000.00 $ . S . S 10.000.COS 10,000.00 $ 162,067.20 $ 122,714.40 $ 143,990.CO $ 428,767.20 $ 39,212 801 $ 17,285.60 $ 28.110.COS (11,117.201 473 $ 20,000.00 $ $ $ 20,000.00 $ 111,285.60 $ (N./14.40) S (20,000.00 (300.09) 196.07) 1496071 20000 $ 110,985.59 $ (8,518.33 $ 1456.071 $ 4,000.00 $ 6,300.00 $ 14.591.67S (11.612.2/1 Edgated DIM Variable MOH rate per hour Variable MOHLUS! Fixed moh Ictal manufacturing overhead non cash disbursements Cash paid tar MOH Manufacturing overhead budget January February March 01 2925 2850 33751 9150 S 2.00 $ 3.00 $ 3.00 $ 2.00 $ 2,775.00 S 8,550.00 $ 10,125.00 5 27.450.00 $ 8,900.00 $ 8,900.00 $ 3,900.00 $ 26,700.00 $ 17,67.00 $ 17,450.00 $ 19,025.UC S 54,150.00 5 $ 2,600.00 $ 2,600.00 $ 2,500.00 $ 7.800.00 $ 15,075.00 $ 14,250.00 $ 15,425.00 $ 46,350.00 4480CC Budgeted solas Variable 58 Arale per unit Variable SNACO ExcdSLA Total & Expense Non cash disbursements cosh paid for S&A Selling and acmin expense buvue January February March Q1 UU 9000 11000 29001 5 - 5 $ 5 $ $ $ 24,900.00 $ 24,800.00 $ 24,900.UUS 24,400.00 $ 24,800.00 $ 24,800.00 $ 24,890.00 $ 74.400.00 $ $ 24,900.00 $ 24,800.00 $ 24,900.UUS 24,400.00 Budgeted Income Statement Sales revenue La wartaalle COGS Grossmarin 2144CC 2436CC Selling and administrative ret operating income less Interest pense Nct income $ 74,400.00 $ 169,200.00 1466.07 $ 169,704.93 12 Sales Budget Budgeted sales in units selling price per unit Total sales 300000 72 C D G January February March Quarter April . 8000 9000 11000 28000 12000 11000 $ 16.00 $ 16.00 $ 16.00 $ 16.00 $ 16.00 S 16.00 $ 128,000.00 $144,000.00 $ 176,000.00 $ 448,000.00 $ 192,000.00 $ 176,000.00 Schedule of Expected Cash Collections Accounts recievable Decemebr 31 53600 12000 January February March January sales $ 76,800.00 S 32,000.00 $ 19,200.00 February Sales $ 86,400.00 $ 36,000.00 $ 21,600.00 March Sales $ 105,600.00 $ 44,000.00 $ 26,400.00 Total Cash Collection $ 114,800.00 $ 134,000.00 $ 160,800.00 S 409,600.00 april may Production Buget January February march g1 Budgeted Merchandse purchases: Budgeted sales in units 8000 9000 11000 Add desired ending Inventory 2250 2750 3000 Total needs 10250 11750 14000 Less beginning inventory 500 2250 2750 Required production 9750 9500 11250 11000 28000 3000 36000 5500 30500 12000 2750 14750 3000 11750 May Production materials per unit produktion needs Desired ending inventory Total needs Less beginning Inventory Amount to be purchased Cost @28$ Direct materials budget January February March 01 April 9750 9500 11250 30500 1.4 1.4 14 1.4 1365013300 15750 42700 2660 3150 3290 3290 1631016450 19040 51800 10002660 3150 6810 1531013790 15890 44990 $ 42,868.00 S 38.612.00 $44.492.00 $ 125,972.00 11750 1.4 16450 3290 Accounts payable december 31 January purchases March April February purchases Cash disbursements for materials January February 91 $ 20,200.00 $ 25,720.80 $7.192.00 17 147-20 $ 23,167.20 $15.444.80 $ 26,695.20 March purches Total Cash payments 5. 53,312.80 $40.314.40 $ 42,140.00 $ 135,767.20 $ 17,796.80 53 Q1 55 Direct labor Budget 56 January february march 7 Production 9750 9500 11250 30500 8 Direct labor per unit 0.3 0.3 0.3 0.3 9 labor hours required 2925 2850 3375 9150 50 guaranteed hours 470 470 470 470 51 labor hours paid 2925 2850 4575 10350 52 hourly rate $ 15.00$ 15.00$ 15.00$ 15.00 3 total direct labor cots $ 43,875.00 $ 42,750.00 $ 50,625.00 $ 137,250.00 54 55 Manufacturing overhead budget 66 January February March Q1 7 Budgeted DLH 2925 2850 3375 9150 8 Variable MOH rate per hour $ 3.00 $ 3.00 $ 3.00 $ 3.00 9 Variable MOH cost $ 8,775.00 $8,550.00 $ 10,125.00 $ 27,450.00 "O Fixed moh $ 8,900.00 $ 8,900.00 $ 8,900.00 $ 26,700.00 -1 Total manufacturing overhead $ 17,675.00 $ 17,450.00 $ 19,025.00 $ 54,150.00 2 non cash disbursements $ 2,600.00 $ 2,600.00 $ 2,600.00 $ 7,800.00 "3 Cash paid for MOH $ 15,075.00 $ 14,850.00 $ 16,425.00 $ 46,350.00 4 "5 Selling and admin expense budget *6 January February March Q1 -7 Budgeted sales 8000 9000 11000 28000 -8 Variable S&A rate per unit $ $ $ $ 9 Variable S&A cost $ $ $ $ FO Fixed S&A $ 24,800.00 $ 24,800.00 $ 24,800.00 $ 74,400.00 1 Total S&a Expense $ 24,800.00 $ 24,800.00 $ 24,800.00 $ 74,400.00 2 Non cash disbursements $ $ $ $ 3 cash paid for S&A $ 24,800.00 $ 24,800.00 $ 24,800.00 $ 74,400.00 14 5 6 M Cash balance Add collections from customers Total cash available Cash budget January February March 01 $ 8,050.00 $ 6.187.20 $ 6,110.00 $ 8,050.00 $ 114,800.00 $ 134,000.00 $ 160,800.00 $ 409,600.00 $ 122,850.00 $ 140,787.20 $ 166,910.00 $ 417,650.00 Less disbursements: Purchase of merchandise total direct labor cost Cash paid for MOH Cash paid for S&A Dividends pald equipment purchased total disbursements Exess or deficiency Financing Borrowing Repayments Interest Total financing Cash balance ending $ 53,312.80 $ 40,314.40 $ 42,140.00 $ 135,767.20 $ 43,875.00 $ 42,750.00 $ 50,625.00 $ 137,250.00 $ 15,075.00 $ 14,850.00 $ 16,425.00 $ 46,350.00 $ 24,800.00 $ 24,800.00 $ 24,800.00 $ 74,400.00 $ 25,000.00 $ $ $ 25,000.00 $ $ $ 10,000.00 $ 10,000.00 $ 162,062.80 $ 122,714.40 $ 143,990.00 $ 428,767.20 $ (39,212.80) $ 18,072.80 $ 22,920.00 $ (11,117.20) $ 46,000.00 $ $ $ 46,000.00 $ $ (11,272.80) $ (16,920.00) $ (28,192.80) $ 690.00 $ (781.36) (91.36) $ 46,000.00 $ (11,962.80) $ (16,138.64) $ 17,715.84 $ 6,787.20 $ 6,110.00 $ 6,781.36 $ 6,598.64 448000 Budgeted Income Statement Sales revenue Less variablel expenses: COGS Gross margin 127057 320943 Selling and administrative net operating income less interest expense Net Income $ 74,400.00 $ 246,543.00 (91.36) $ 246,451.6 Each gallon of dye has the following standard quantities and costs for direct materials and direct labor: Quantity Cost/rate Std Cost Mordant (DM) 1.40 Gal $2.00 $2.80 Direct labor 0.30 Hr $15.00 $4.50 Some evaporation loss occurs during processing. Variable overhead (VOH) is applied basis machine-hours. The processing of 1 gallon of dye takes 3 MH. The variable overhead rate is $0.10 per MH. VOH is entirely of utility costs. FOH is applied per gallon based on an expected annual capacity of 120,000 gallons. Fixed overhead is incurred evenly throughout the year. Fixed overhead per year is composed of the following costs: Salaries $84,600 Utilities 17,400 Insurance-factory 4,800 Depreciation-factory 31,200 6. There is no beginning work in process inventory. All work in process is completed in the period in which it is started. Raw materials inventory at the beginning of the year consists of 1,000 gallons of Mordant. There are 500 gallons of dye in finished goods inventory at the beginning of the year carried at standard cost. Monthly selling and administrative costs are paid in cash. Per month costs are as follows: Salaries $15,000 Utilities 1800 Office Rent 8,000 Beled Balance Sheet March Sales Budget Budgeted sales in unit Selling price for at Total sales February May YUUU 9000 11000 24UUU 12000 11000 5 16.00 $ 16.00 $ 16.CCS 16.00 $ 16.00 $ 16.CC $ 128,000.00 144.900.00 $ 176,CCC.CC $448,000.00 $ 192.000.00 $ 170,CCC.CC Scrode of Expected Cash Collections Accounts recievable Decemer 31 53600 12000 SEY February March Jerry sales $ 75,800.00 $ 32.000.00 $ 19,2CC.CC Asset Currant assets cash accounts recievable raw materwentory Finished goodwentory Totalcurrent essels 13. Monthly selling and administrative costs are asidin cash. Per month cocts Equipment $ 11,613.221 $ 92,000.00 $ 2.156.00 $ 3.000.0 $ 85,542,73 $ 2,200.00 S 3CC.coon $ 16,433.33 S: anes $15,000 Lies 1 RON Off ce Men 9.000 property and cquipment Total $ 387,742.78 $ 26,CCC.CC $ 100 $ 105,6CC.CC $44.000.00 March Sales $ 17,796.30 $ 26,130.00 Total Cash Collection $ 114,300.00 $ 134,000.00 $ 150,2CC.CC $ 409,800.00 Liabilities and stockholders equity Current liabilites Accounts pays, purchases Stockelvers equity Comman.stock care total stocka dos equity Totalli, Anda beroty $ 80,000.00 $ 238,120.93 Production Huget February march In1 Japril may $ 312,122.93 S 335,925.73 9000 110001 Ludgered Merchanicke purchases: Burleted sales in units Add desired ending inventory Total reeck Less beginning inventory Required production annn 2250 10250 500 9750 2/30 11750 2250 ** S500 11900 9000 140007 27501 11250 2800 | 30 3innn 5500 3050 12000 2730 14750 2000 11750 Retired Parnis at march 31 balance, 1931 Add wat inca ne total loss duidendi declared tablarc march 31 $ 94,425.00 $ 158,703.93 $263.128.93 $ (25,000.00 $ 238,120.93 May 11750 Each allon of dye has the following standard quantities and buss for direct materials and direct later: 16430 Direct matcrials budget Lory 01 April 925 9500 11250 3USUU 1.4 1.41 14 1.41 13650 12200 15730 42200 2660 3150 3799 16310 16450 19240 51900 innn 2660 3150 6810 15310 12790 158901 44990 $42.858.00$ 38,512.00 $ 44,492.CC $ 125,972.00 Production materials per unit production needs Desired ending Inwentary Total needs Less beginning inventory Amount to be purchased Cost 2.8$ Quantity Cos/rate Std Cost Merdant (DMI 1.40 Gal $2.00 $2.80 Direct labor 0.30 Hr $15.99 $4.50 3290 Some evaporatiun luss uccurs during processing. Variable overhead V011) is applied wess machine hours. The processing at I gallonch dretakcs 3 MH. The variablc overhead rate is 50.10 per MH. VOH is entirely of utility costs FOH is applied per vallon based on an cxpected annual capacity of 120.000 expected annual capacity of 120,005 gallons 01 April Nccounts payable december 31 la nuary purchases Cash disbursements tar materials January February March $ 20,200.00 $ 25,720.80 S 7,392.00 $ 17,147.20 $ 23,167.20 $ 15,444.80 $ 26.695.20 rebruary purchases March purches Cash buoce. January February March QI $ 4,000.00 $ 6,000 $ 1,300.CO 2,000.00 $114,800.00 $ 134,000.09 S 150.B0C.CO 5 409,600.00 $ 122,850.00 $ 140,000.00 $ 157,100.CO $ 417,650,00 Cash balarca Add collections froin customers Total cash vallava $ 17,796.30 Total Cachments $ 53,317.80 $ 40,314.40 $ 42,140.00 $ 135,767.20 Production Direct labar ser unit lator hours required uvaran.ee hours labor hours sald hourly rate total direct labor cols Direct labor Budget anus february march 01 9750 9500 11250 30500 1.3 0.3 0.3 2925 2950 2273 9150 420 470 470 2925 2850 4575 10350 S 15.00 $ 15.00 $ 15.00 15.00 543,875.00 $ 42,790.00 $ 50,625.00 $137.250.00 Less disbursements: Purchase of merchandise total direct labor cost Cash paid for MOH Cash paid tar Dividends paid cuipment purchased tatal disements Exess or deficiency Financing: Barrowing Hepayments Interest Totalfinaire Cash balance ending $ 53,312.20 $ 40,314.40 $ 42,140.CO $ 135,767.20 $ 42,97.00 $ 42,750.00 $ 59,425.00 S 137,250.00 $ 15,075.00 $ 14,850.09 S 16,425.CO S 46,350,00 $ 24,800.00 $ 24200.00 $ 24,800.CO $ 74,400.00 $ S 25,000.00 $ . S . S 10.000.COS 10,000.00 $ 162,067.20 $ 122,714.40 $ 143,990.CO $ 428,767.20 $ 39,212 801 $ 17,285.60 $ 28.110.COS (11,117.201 473 $ 20,000.00 $ $ $ 20,000.00 $ 111,285.60 $ (N./14.40) S (20,000.00 (300.09) 196.07) 1496071 20000 $ 110,985.59 $ (8,518.33 $ 1456.071 $ 4,000.00 $ 6,300.00 $ 14.591.67S (11.612.2/1 Edgated DIM Variable MOH rate per hour Variable MOHLUS! Fixed moh Ictal manufacturing overhead non cash disbursements Cash paid tar MOH Manufacturing overhead budget January February March 01 2925 2850 33751 9150 S 2.00 $ 3.00 $ 3.00 $ 2.00 $ 2,775.00 S 8,550.00 $ 10,125.00 5 27.450.00 $ 8,900.00 $ 8,900.00 $ 3,900.00 $ 26,700.00 $ 17,67.00 $ 17,450.00 $ 19,025.UC S 54,150.00 5 $ 2,600.00 $ 2,600.00 $ 2,500.00 $ 7.800.00 $ 15,075.00 $ 14,250.00 $ 15,425.00 $ 46,350.00 4480CC Budgeted solas Variable 58 Arale per unit Variable SNACO ExcdSLA Total & Expense Non cash disbursements cosh paid for S&A Selling and acmin expense buvue January February March Q1 UU 9000 11000 29001 5 - 5 $ 5 $ $ $ 24,900.00 $ 24,800.00 $ 24,900.UUS 24,400.00 $ 24,800.00 $ 24,800.00 $ 24,890.00 $ 74.400.00 $ $ 24,900.00 $ 24,800.00 $ 24,900.UUS 24,400.00 Budgeted Income Statement Sales revenue La wartaalle COGS Grossmarin 2144CC 2436CC Selling and administrative ret operating income less Interest pense Nct income $ 74,400.00 $ 169,200.00 1466.07 $ 169,704.93 12 Sales Budget Budgeted sales in units selling price per unit Total sales 300000 72 C D G January February March Quarter April . 8000 9000 11000 28000 12000 11000 $ 16.00 $ 16.00 $ 16.00 $ 16.00 $ 16.00 S 16.00 $ 128,000.00 $144,000.00 $ 176,000.00 $ 448,000.00 $ 192,000.00 $ 176,000.00 Schedule of Expected Cash Collections Accounts recievable Decemebr 31 53600 12000 January February March January sales $ 76,800.00 S 32,000.00 $ 19,200.00 February Sales $ 86,400.00 $ 36,000.00 $ 21,600.00 March Sales $ 105,600.00 $ 44,000.00 $ 26,400.00 Total Cash Collection $ 114,800.00 $ 134,000.00 $ 160,800.00 S 409,600.00 april may Production Buget January February march g1 Budgeted Merchandse purchases: Budgeted sales in units 8000 9000 11000 Add desired ending Inventory 2250 2750 3000 Total needs 10250 11750 14000 Less beginning inventory 500 2250 2750 Required production 9750 9500 11250 11000 28000 3000 36000 5500 30500 12000 2750 14750 3000 11750 May Production materials per unit produktion needs Desired ending inventory Total needs Less beginning Inventory Amount to be purchased Cost @28$ Direct materials budget January February March 01 April 9750 9500 11250 30500 1.4 1.4 14 1.4 1365013300 15750 42700 2660 3150 3290 3290 1631016450 19040 51800 10002660 3150 6810 1531013790 15890 44990 $ 42,868.00 S 38.612.00 $44.492.00 $ 125,972.00 11750 1.4 16450 3290 Accounts payable december 31 January purchases March April February purchases Cash disbursements for materials January February 91 $ 20,200.00 $ 25,720.80 $7.192.00 17 147-20 $ 23,167.20 $15.444.80 $ 26,695.20 March purches Total Cash payments 5. 53,312.80 $40.314.40 $ 42,140.00 $ 135,767.20 $ 17,796.80 53 Q1 55 Direct labor Budget 56 January february march 7 Production 9750 9500 11250 30500 8 Direct labor per unit 0.3 0.3 0.3 0.3 9 labor hours required 2925 2850 3375 9150 50 guaranteed hours 470 470 470 470 51 labor hours paid 2925 2850 4575 10350 52 hourly rate $ 15.00$ 15.00$ 15.00$ 15.00 3 total direct labor cots $ 43,875.00 $ 42,750.00 $ 50,625.00 $ 137,250.00 54 55 Manufacturing overhead budget 66 January February March Q1 7 Budgeted DLH 2925 2850 3375 9150 8 Variable MOH rate per hour $ 3.00 $ 3.00 $ 3.00 $ 3.00 9 Variable MOH cost $ 8,775.00 $8,550.00 $ 10,125.00 $ 27,450.00 "O Fixed moh $ 8,900.00 $ 8,900.00 $ 8,900.00 $ 26,700.00 -1 Total manufacturing overhead $ 17,675.00 $ 17,450.00 $ 19,025.00 $ 54,150.00 2 non cash disbursements $ 2,600.00 $ 2,600.00 $ 2,600.00 $ 7,800.00 "3 Cash paid for MOH $ 15,075.00 $ 14,850.00 $ 16,425.00 $ 46,350.00 4 "5 Selling and admin expense budget *6 January February March Q1 -7 Budgeted sales 8000 9000 11000 28000 -8 Variable S&A rate per unit $ $ $ $ 9 Variable S&A cost $ $ $ $ FO Fixed S&A $ 24,800.00 $ 24,800.00 $ 24,800.00 $ 74,400.00 1 Total S&a Expense $ 24,800.00 $ 24,800.00 $ 24,800.00 $ 74,400.00 2 Non cash disbursements $ $ $ $ 3 cash paid for S&A $ 24,800.00 $ 24,800.00 $ 24,800.00 $ 74,400.00 14 5 6 M Cash balance Add collections from customers Total cash available Cash budget January February March 01 $ 8,050.00 $ 6.187.20 $ 6,110.00 $ 8,050.00 $ 114,800.00 $ 134,000.00 $ 160,800.00 $ 409,600.00 $ 122,850.00 $ 140,787.20 $ 166,910.00 $ 417,650.00 Less disbursements: Purchase of merchandise total direct labor cost Cash paid for MOH Cash paid for S&A Dividends pald equipment purchased total disbursements Exess or deficiency Financing Borrowing Repayments Interest Total financing Cash balance ending $ 53,312.80 $ 40,314.40 $ 42,140.00 $ 135,767.20 $ 43,875.00 $ 42,750.00 $ 50,625.00 $ 137,250.00 $ 15,075.00 $ 14,850.00 $ 16,425.00 $ 46,350.00 $ 24,800.00 $ 24,800.00 $ 24,800.00 $ 74,400.00 $ 25,000.00 $ $ $ 25,000.00 $ $ $ 10,000.00 $ 10,000.00 $ 162,062.80 $ 122,714.40 $ 143,990.00 $ 428,767.20 $ (39,212.80) $ 18,072.80 $ 22,920.00 $ (11,117.20) $ 46,000.00 $ $ $ 46,000.00 $ $ (11,272.80) $ (16,920.00) $ (28,192.80) $ 690.00 $ (781.36) (91.36) $ 46,000.00 $ (11,962.80) $ (16,138.64) $ 17,715.84 $ 6,787.20 $ 6,110.00 $ 6,781.36 $ 6,598.64 448000 Budgeted Income Statement Sales revenue Less variablel expenses: COGS Gross margin 127057 320943 Selling and administrative net operating income less interest expense Net Income $ 74,400.00 $ 246,543.00 (91.36) $ 246,451.6 Each gallon of dye has the following standard quantities and costs for direct materials and direct labor: Quantity Cost/rate Std Cost Mordant (DM) 1.40 Gal $2.00 $2.80 Direct labor 0.30 Hr $15.00 $4.50 Some evaporation loss occurs during processing. Variable overhead (VOH) is applied basis machine-hours. The processing of 1 gallon of dye takes 3 MH. The variable overhead rate is $0.10 per MH. VOH is entirely of utility costs. FOH is applied per gallon based on an expected annual capacity of 120,000 gallons. Fixed overhead is incurred evenly throughout the year. Fixed overhead per year is composed of the following costs: Salaries $84,600 Utilities 17,400 Insurance-factory 4,800 Depreciation-factory 31,200 6. There is no beginning work in process inventory. All work in process is completed in the period in which it is started. Raw materials inventory at the beginning of the year consists of 1,000 gallons of Mordant. There are 500 gallons of dye in finished goods inventory at the beginning of the year carried at standard cost. Monthly selling and administrative costs are paid in cash. Per month costs are as follows: Salaries $15,000 Utilities 1800 Office Rent 8,000
