Directions: Use the attached document to fill in the graphs.

Kalogridis Corporation

Kalagoridis Corporation

Sales Budget

for the Quarter ended March 31, 2014

	Data
		November	December	January	February	March	April	May
Sales Budget
Budgeted Sales in Gallons				8,000	10,000	15,000	12,000	11,000
Selling and Admin Expense Budget
Salaries	25,000
Rent	7,000
Utilities	800
Cash Budget
Minumum Cash Balance	5,000
Equipment Purchases	9,000
Salvage Value
Useful Life in Months
Dividens
APR on Debt
APR on Investments
Tax Rate

Equipment Purchase Payment Month of Purchase	80%
Equipment Purchase Payment Month After Purchase	20%

Kalogridis Corporation

Sales Budget

for the Quarter ended March 31, 2014

	January	February	March	April	May	Quarter Total
Budgeted Unit Sales (in Gallons)	8,000	10,000	15,000
Selling Price per Gallon	12.00	12.00	12.00
Total Sales	96,000	120,000	180,000
Beginning Accounts Receivable
January Sales
February Sales
March Sales
Total Cash Collections

Kalogridis Corporation

Production Budget

for the Quarter ended March 31, 2014

(In Cases)

	January	February	March	April	Quarter
Budgeted Unit Sales
Add Desired Units of Ending Finished Goods Inventory
Total Needs
Less Units of Beginning Finished Goods Inventory
Required Production in Units

Direct Labor Budget

for the Quarter ended March 31, 2014

	January	February	March	Quarter
Required Production in Gallons
Direct Labor-Hours Per Gallon
Total Direct Labor-Hours Needed
Direct Labor Cost Per Hour
Total Direct Labor Cost

Manufacturing Overhead Budget

for the Quarter ended March 31, 2014

	January	February	March	Quarter
Budgeted Direct Machine-Hours
Variable Manufacturing Overhead Rate
Variable Manufacturing Overhead
Fixed Manufacturing Overhead
Total Manufacturing Overhead
Less Prepaid Insurance
Less Depriciation
Cash Disburrsements for Manufacturing Overhead
Total Manufacturing Overhead
Budgeted Directed Machine-Hours
Predetermined Overhead Rate for the Year

Ending Finished Goods Inventory Budget

for the Quarter ended March 31, 2014

Item	Quantity	Quantity		Cost	Cost		Total
Production Cost Per Gallon
Direct Materials		Gallons			Per Gallon
Direct Labor		Hours			Per Hour
Fixed Manufacturing Overhead		Gallon			Per Gallon
Variable Manufacturing Overhead		Hours			Per Machine Hour
Unit Product Cost
Budgeted Finished Goods Inventory
Ending Finished Goods Inventory
Unit Product Cost
Ending Finished Goods Inventory in Dollars

Selling and Administrative Expense Budget

for the Quarter ended March 31, 2014

	January	February	March	Quarter
Fixed Selling and Admin Expenses
Salaries
Rent
Utilities
Cash Dispersements for Selling and Administrative Expenses

Cash Budget

62. LO.2-LO.5 (Master budget preparation) Kalogridis Corp. manufactures industrial rdye. The company is preparing its 2014 master budget and has presented you with the following information: a. The projected December 31, 2018, balance sheet for the company is as follows Assets Liablitier s 25,000 2,148 s 5,080 Notes Payable Cash Accounts Receivable Raw Material Inventory Finished Goods Inventory Prepaid Insurance Building 26,500 Accounts Payable 800 Dividends Payable 2,104 Total Liabilities S 37,148 $100,000 50,000 1,200 Common Stock $300,000 Paid-in Capital Acoum. Depreciation20009 00Rn'and Accum. Deprecaion 20,00020000 Retairanod Eang1.536 278.538 Total Liabilities and Total Assets $315,684 Stockholders Equity 5315.684 b. The Accounts Receivable balance at 12/31/13 represents the remaining balances of November and December credit sales. Sales were $70,000 and $65,000, respec- tively, in those two months. c. Estimated sales in gallons of dye for January through May 2014 are as follows: January February March 8,000 10,000 15,000 12,000 11,000 Each gallon of dye sells for $12. d. The collection pattern for accounts reccivable is as follows:70 percent in the month of sale, 20 percent in the first month after the sale, and 10 percent in the second month after the sale. Kalogridis Corp. e e. Each gallon of dye has the following standard quantities and costs for direct material and direct labor: 1.2 gallons of direct material (some evaporation occurs during $0.96 3.00 processing) x $0.80 per gallon 0.5 hour of direct labor x $6 per hour Variable overhead (VOH) is applied to the product on a machine hour basis. Process ing one gallon of dye takes five hours of machine time. The variable overhead rate is $0.06 per machine hour, VOH consists entirely of utility costs. Total annual fixed over- head is $120,000, it is applied at $1 per gallon based on an expected annual capacity of 120,000 gallons. Fixed overhead per year is composed of the following costs f. Salaries Utilities Insurance-factory Depreciation-factory $78,000 12,000 2.400 27,600 Fixed overhead is incurred evenly throughout the year. 62. LO.2-LO.5 (Master budget preparation) Kalogridis Corp. manufactures industrial rdye. The company is preparing its 2014 master budget and has presented you with the following information: a. The projected December 31, 2018, balance sheet for the company is as follows Assets Liablitier s 25,000 2,148 s 5,080 Notes Payable Cash Accounts Receivable Raw Material Inventory Finished Goods Inventory Prepaid Insurance Building 26,500 Accounts Payable 800 Dividends Payable 2,104 Total Liabilities S 37,148 $100,000 50,000 1,200 Common Stock $300,000 Paid-in Capital Acoum. Depreciation20009 00Rn'and Accum. Deprecaion 20,00020000 Retairanod Eang1.536 278.538 Total Liabilities and Total Assets $315,684 Stockholders Equity 5315.684 b. The Accounts Receivable balance at 12/31/13 represents the remaining balances of November and December credit sales. Sales were $70,000 and $65,000, respec- tively, in those two months. c. Estimated sales in gallons of dye for January through May 2014 are as follows: January February March 8,000 10,000 15,000 12,000 11,000 Each gallon of dye sells for $12. d. The collection pattern for accounts reccivable is as follows:70 percent in the month of sale, 20 percent in the first month after the sale, and 10 percent in the second month after the sale. Kalogridis Corp. e e. Each gallon of dye has the following standard quantities and costs for direct material and direct labor: 1.2 gallons of direct material (some evaporation occurs during $0.96 3.00 processing) x $0.80 per gallon 0.5 hour of direct labor x $6 per hour Variable overhead (VOH) is applied to the product on a machine hour basis. Process ing one gallon of dye takes five hours of machine time. The variable overhead rate is $0.06 per machine hour, VOH consists entirely of utility costs. Total annual fixed over- head is $120,000, it is applied at $1 per gallon based on an expected annual capacity of 120,000 gallons. Fixed overhead per year is composed of the following costs f. Salaries Utilities Insurance-factory Depreciation-factory $78,000 12,000 2.400 27,600 Fixed overhead is incurred evenly throughout the year