Focusing on Budgets and the projected cash budget.

FormulasData Review View Help Foxit Reader PDF Search AutoSave 8 5 File Home Insert Page Layout X Cut Arial Paste BI Format Painter L I Copy - 10-A A ESE A -EEEE Wrap Text Merge & Center - $ % 88-23 AB32 A B C D E F G I See The Light Projected Income Statement For the Period Ending December 31, 20x1 545.00 $30.00 $1,125 000.00 750,000.00 $ 375,000.00 Sales 25,000 lamps @ Cost of Goods Sold Gross Profit Selling Expenses: Foxed Variable (Commission per unit) Administrative Expenses: $3.00 $ 23,000.00 75,000.00 $ 98,000.00 Foxed @ $2.00 $42.000.00 50,000.00 92000.00 Variable Total Selling and Administrative Expenses Net Profit $ 190,000.00 185,000.00 I See The Light Projected Balance Sheet As of December 31, 20x1 Current Assets 5 34.710.00 67 500 00 Accounts Receivable Inventory Raw Material Lamp Kits Work in Process Finished Goods Total Current Assets 500 $16.00 8,000.00 3000 @ $30.00 90,000.00 200 210 00 $ $ 20,000.00 6,800.00 Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets Total Assets 13,200.00 $ 213.410.00 1 FAQ 2 3 introduction 4 5 10 11 12 13 14 15 16 AutoSave @CH H Home Insert Help Foxit Reader PDF Search Page Layout Formulas Data Review View ERO Screenshot plaures Online Shopen leon 301 Get Add Mortable Placommended Table AB32 A B C D E 1 See The Light Projected Balance Sheet As of December 31, 20x1 $ 34,710.00 67 500.00 Current Assets Cash Accounts Receivable Inventory Raw Material Lamp Kits Work in Process Finished Goods Total Current Assets 500 $1600 8,000.00 3000 @ $30.00 90.000.00 $ 200,210.00 Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets Total Assets $ 20,000 00 6.800.00 13.200.00 213.410.00 $ SS4000.00 $ 54,000.00 Current Liabilities Accounts Payable Total Liabilities Stockholder's Equity Common Stock Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity $ 12.000.00 147.410,00 159 410 00 213.410.00 $ FAQ 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Pre Type here to search Insert Page Layout Home Formulas Data Review View Help Foxit Reader PDF Search dll ? Get Add-ins Table pictures Online Shapes Icons 30. Table Recommended Prvot Tables Ains Charts Tables The company has requested that you prepare a master budget for the year. This budget is to be used for planning and control of operations and should be composed of 1 1 Production Budget 2 34 46 57 2. Materials Budget 3. Direct Labor Budget 4. Factory Overhead Budget 5. Selling and Administrative Budget 56 59 6. Cost of Goods Sold Budget 70 7. Budgeted Income Statement 72 8. Cash Budget T4 Notes for Budgeting 85 The company wants to maintain the same number of units in the beginning and ending inventories of 87 work in process, and electrical parts while increasing the inventory of Lamp Kits to 550 pieces and 88 decreasing the finished goods by 20% 99 Complete the following budgets 100 101 1 Production Budget 113 Planned Sales Desired Ending Inventory of Finished Goods Total Needed Less Beginning inventory Total Production (701) 128 130 131 32 Introduction FAQ 1 2 4 5 6 7 10 11 12 13 14 15 16 17 18 Present Type here to search AutoSave OB Home Insert Page Layout Formulas Data View Review Help Foxit Reader PDF # Get Add-ins L? Search - - pictures Online Shopes toons son Pivottable Recommended Table MA - ecommended Charts illustrations C D E F 1 hodie 2 Materials Budget Lamp Kits Needed for Production Desired Ending Inventory Total Needed Less Beginning inventory Tot Purchases Cost per piece Cost of Purchases (Round to two places, S## (801) (8.02) {8.03) (8.04 {8.05) {8.05) 3 Drect Labor Budget (807) Labor Cost Per Lamp Production Total Labor Cost (Round to two places. S.) (8.08) 4 Factory Overhead Budget Vanable Factory Overhead: Variable Factory Overhead Cost Per Unit Number of Units to be produced Total Variable Factory Overhead (Round to two places. S Faced Factory Overhead ) 1809) {810) Total Factory Overhead (Round to two places, S.) (8.11) 116 117 119 121 troduction FAQ 9 10 11 12 13 14 15 16 17 18 Type here to search Search View Review Help Foxit Reader PDF ovo 2 Home Insert Get Add-ins Page Layout Formulas Data SO t Online Shapecon Smart Screenshot My Add-ins Recommended Charts Table Models Charts pictures Addins ustrations - DE F 4 Factory Overhead Budget Overhead Allocation rate based on 1. Number of Units Total Factory Overhead / Number of Units (Round to two places, SA 1901) {9.02) 14 5 Cost of making one unit.ext year Cast of one Lamp Kit Labor Cost Per Lamp Factory overhead per unit 1903) Total cost of one unit (Round to two places, SAW ) & ENDS 30 6 Seling and Admin Budget 1904) Fixed Seling Variable Seling (Round to two places, 5.) Fred Administrative Variable Administrative (Round to two places, S w ) Total Selling and Administrative (Round to two places, S. 19.05) ) (906) Goods Round dollars to two places. S 40 41 (9.07) Budget Beginning inventory. Fished Goods Production Costs Mataas Lampes Beginning inventory Purchased Available for Use Ending Inventory of Lamp Kits Lamp Kits Used in Production (908) Total Materials Labor Overhead Cost of Goods Available Less Ending inventory. Finished Goods Cost of Goods Sold (9.09) (9101 19 111 (9.12) 19 13 1914 Type here to search Page Layout Data Home insert formulas Review view Holo e Fout Reader Por search NI H 1 page - Margins Orientation Sue Paint Print ww View Pont PrintForward sheet Options 5 Back Scale torn s Por Setup hodique 7 7 Bucle come Statement 12 Sales Cost of Goods Sold Gross Profit Selling Expenses & Admin. Expenses Net Income 10.01) 25 8 Cash Budget 27 Assume actual cash receipts and disbursements will follow the patter below. (Note: Receivables and 28 Payables of 12/31xt will have a cash impact in 20x2.) 32 1 19.00% of sales for the year are made in November and December. Since our customers have 60 day terms 33 those funds will be collected be collected in January and February 34 2. 89.00% of material purchases will be paid during the year, the remaining portion will be paid in Januay or February 35 3. Al other manufacturing and operating costs are paid for when incurred. 3814. The budeated depreciation expense is equal to 0.6% of the fixed manufacturing, selling and administrative expenses 39 5. Minimum Cash Balance needed for 20x2, 5195.000 I See The Light Projected Cash Budget For the Year Ending December 31, 20x2 Round dollars to two MF8916 Formulas Data Review AutoSave DB9- Home Insert 1 . Page Layout D L F View Help Foxit Reader Pop Search dings oh II Height 1 page View View Print PrintForward Sare to Fit Sheet Options Backward Title Page Setup ABCD 23 Payables of 12/3 will have a cash impact in 20x2) 32 1 19.00% of sales for the year are made in November and December. Since our customers have 50 day terms 33 those funds will be collected be collected in January and February 2 00% of all purchases will be paid during the year, the remaining portion will be paid in Januay or February 353 Alther manufacturing and operating costs are paid for when incurred 30 The budgeted depreciation expense is equal to 0.6% of the fixed manufacturing, selling and administrative expenses. 39 5. Minimum Cash Balance needed for 2002 $195.000 I See The Light Projected Cash Budget For the Year Ending December 31, 20x2 Round dollars to two Beginning Cash Balance Sales Collections Account Receivable (Sales last year not collected) Sales made and collected in 20x2 Cash Awalable (10.023 (1003) 1004) (10:05) Cash Outlow Purchases Accounts Payable (Purchases last year) Purchases made and paid for in 2022 Other Manufacturing Costs Direct labor Total Manufacturing Overhead Selling and Administrate Les Depreciation Total Cash Outlaws 11006 (10.07) Budgeted Cash Balance before financing Teed Minimum Balance (10.09) Amount to be bowed any B ed Cash Balance (1009) (1010) 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Presenta Tehere to search DURACI 10 FormulasData Review View Help Foxit Reader PDF Search AutoSave 8 5 File Home Insert Page Layout X Cut Arial Paste BI Format Painter L I Copy - 10-A A ESE A -EEEE Wrap Text Merge & Center - $ % 88-23 AB32 A B C D E F G I See The Light Projected Income Statement For the Period Ending December 31, 20x1 545.00 $30.00 $1,125 000.00 750,000.00 $ 375,000.00 Sales 25,000 lamps @ Cost of Goods Sold Gross Profit Selling Expenses: Foxed Variable (Commission per unit) Administrative Expenses: $3.00 $ 23,000.00 75,000.00 $ 98,000.00 Foxed @ $2.00 $42.000.00 50,000.00 92000.00 Variable Total Selling and Administrative Expenses Net Profit $ 190,000.00 185,000.00 I See The Light Projected Balance Sheet As of December 31, 20x1 Current Assets 5 34.710.00 67 500 00 Accounts Receivable Inventory Raw Material Lamp Kits Work in Process Finished Goods Total Current Assets 500 $16.00 8,000.00 3000 @ $30.00 90,000.00 200 210 00 $ $ 20,000.00 6,800.00 Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets Total Assets 13,200.00 $ 213.410.00 1 FAQ 2 3 introduction 4 5 10 11 12 13 14 15 16 AutoSave @CH H Home Insert Help Foxit Reader PDF Search Page Layout Formulas Data Review View ERO Screenshot plaures Online Shopen leon 301 Get Add Mortable Placommended Table AB32 A B C D E 1 See The Light Projected Balance Sheet As of December 31, 20x1 $ 34,710.00 67 500.00 Current Assets Cash Accounts Receivable Inventory Raw Material Lamp Kits Work in Process Finished Goods Total Current Assets 500 $1600 8,000.00 3000 @ $30.00 90.000.00 $ 200,210.00 Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets Total Assets $ 20,000 00 6.800.00 13.200.00 213.410.00 $ SS4000.00 $ 54,000.00 Current Liabilities Accounts Payable Total Liabilities Stockholder's Equity Common Stock Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity $ 12.000.00 147.410,00 159 410 00 213.410.00 $ FAQ 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Pre Type here to search Insert Page Layout Home Formulas Data Review View Help Foxit Reader PDF Search dll ? Get Add-ins Table pictures Online Shapes Icons 30. Table Recommended Prvot Tables Ains Charts Tables The company has requested that you prepare a master budget for the year. This budget is to be used for planning and control of operations and should be composed of 1 1 Production Budget 2 34 46 57 2. Materials Budget 3. Direct Labor Budget 4. Factory Overhead Budget 5. Selling and Administrative Budget 56 59 6. Cost of Goods Sold Budget 70 7. Budgeted Income Statement 72 8. Cash Budget T4 Notes for Budgeting 85 The company wants to maintain the same number of units in the beginning and ending inventories of 87 work in process, and electrical parts while increasing the inventory of Lamp Kits to 550 pieces and 88 decreasing the finished goods by 20% 99 Complete the following budgets 100 101 1 Production Budget 113 Planned Sales Desired Ending Inventory of Finished Goods Total Needed Less Beginning inventory Total Production (701) 128 130 131 32 Introduction FAQ 1 2 4 5 6 7 10 11 12 13 14 15 16 17 18 Present Type here to search AutoSave OB Home Insert Page Layout Formulas Data View Review Help Foxit Reader PDF # Get Add-ins L? Search - - pictures Online Shopes toons son Pivottable Recommended Table MA - ecommended Charts illustrations C D E F 1 hodie 2 Materials Budget Lamp Kits Needed for Production Desired Ending Inventory Total Needed Less Beginning inventory Tot Purchases Cost per piece Cost of Purchases (Round to two places, S## (801) (8.02) {8.03) (8.04 {8.05) {8.05) 3 Drect Labor Budget (807) Labor Cost Per Lamp Production Total Labor Cost (Round to two places. S.) (8.08) 4 Factory Overhead Budget Vanable Factory Overhead: Variable Factory Overhead Cost Per Unit Number of Units to be produced Total Variable Factory Overhead (Round to two places. S Faced Factory Overhead ) 1809) {810) Total Factory Overhead (Round to two places, S.) (8.11) 116 117 119 121 troduction FAQ 9 10 11 12 13 14 15 16 17 18 Type here to search Search View Review Help Foxit Reader PDF ovo 2 Home Insert Get Add-ins Page Layout Formulas Data SO t Online Shapecon Smart Screenshot My Add-ins Recommended Charts Table Models Charts pictures Addins ustrations - DE F 4 Factory Overhead Budget Overhead Allocation rate based on 1. Number of Units Total Factory Overhead / Number of Units (Round to two places, SA 1901) {9.02) 14 5 Cost of making one unit.ext year Cast of one Lamp Kit Labor Cost Per Lamp Factory overhead per unit 1903) Total cost of one unit (Round to two places, SAW ) & ENDS 30 6 Seling and Admin Budget 1904) Fixed Seling Variable Seling (Round to two places, 5.) Fred Administrative Variable Administrative (Round to two places, S w ) Total Selling and Administrative (Round to two places, S. 19.05) ) (906) Goods Round dollars to two places. S 40 41 (9.07) Budget Beginning inventory. Fished Goods Production Costs Mataas Lampes Beginning inventory Purchased Available for Use Ending Inventory of Lamp Kits Lamp Kits Used in Production (908) Total Materials Labor Overhead Cost of Goods Available Less Ending inventory. Finished Goods Cost of Goods Sold (9.09) (9101 19 111 (9.12) 19 13 1914 Type here to search Page Layout Data Home insert formulas Review view Holo e Fout Reader Por search NI H 1 page - Margins Orientation Sue Paint Print ww View Pont PrintForward sheet Options 5 Back Scale torn s Por Setup hodique 7 7 Bucle come Statement 12 Sales Cost of Goods Sold Gross Profit Selling Expenses & Admin. Expenses Net Income 10.01) 25 8 Cash Budget 27 Assume actual cash receipts and disbursements will follow the patter below. (Note: Receivables and 28 Payables of 12/31xt will have a cash impact in 20x2.) 32 1 19.00% of sales for the year are made in November and December. Since our customers have 60 day terms 33 those funds will be collected be collected in January and February 34 2. 89.00% of material purchases will be paid during the year, the remaining portion will be paid in Januay or February 35 3. Al other manufacturing and operating costs are paid for when incurred. 3814. The budeated depreciation expense is equal to 0.6% of the fixed manufacturing, selling and administrative expenses 39 5. Minimum Cash Balance needed for 20x2, 5195.000 I See The Light Projected Cash Budget For the Year Ending December 31, 20x2 Round dollars to two MF8916 Formulas Data Review AutoSave DB9- Home Insert 1 . Page Layout D L F View Help Foxit Reader Pop Search dings oh II Height 1 page View View Print PrintForward Sare to Fit Sheet Options Backward Title Page Setup ABCD 23 Payables of 12/3 will have a cash impact in 20x2) 32 1 19.00% of sales for the year are made in November and December. Since our customers have 50 day terms 33 those funds will be collected be collected in January and February 2 00% of all purchases will be paid during the year, the remaining portion will be paid in Januay or February 353 Alther manufacturing and operating costs are paid for when incurred 30 The budgeted depreciation expense is equal to 0.6% of the fixed manufacturing, selling and administrative expenses. 39 5. Minimum Cash Balance needed for 2002 $195.000 I See The Light Projected Cash Budget For the Year Ending December 31, 20x2 Round dollars to two Beginning Cash Balance Sales Collections Account Receivable (Sales last year not collected) Sales made and collected in 20x2 Cash Awalable (10.023 (1003) 1004) (10:05) Cash Outlow Purchases Accounts Payable (Purchases last year) Purchases made and paid for in 2022 Other Manufacturing Costs Direct labor Total Manufacturing Overhead Selling and Administrate Les Depreciation Total Cash Outlaws 11006 (10.07) Budgeted Cash Balance before financing Teed Minimum Balance (10.09) Amount to be bowed any B ed Cash Balance (1009) (1010) 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Presenta Tehere to search DURACI 10