I need help with 7 and 8 please!!!
8 1 9 10 11 Bathworks Sales Budget For the Year Ended December 31 Quarter 2 1 3 4 Year 12. 13 14 15 16 17 Sales in Units Selling Price per unit Total Sales 4,000 $6 $ 24,000 3,000 $6 $ 18,000 5,000 $6 $ 30,000 5,000 $6 $ 30,000 17,000 $6 $ 102,000 Bathworks Production Budget For the Year Ended December 31 Quarter 2 1 3 4 Year 4,000 3,000 5,000 5,000 17,000 18 19 20 2 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 3 40 41 Sales in units Plus desired units of ending finished goods inventory(a) Desired total units Less desired units of beginning finished goods inventory(b) Total production units 300 4,300 500 3,500 500 5,500 600 5,600 600 17,600 400 3,900 300 3,200 500 5,000 500 5,100 400 17,200 a) Desired units of ending finished goods Inventory - 10% of next quarter's budgeted sales. (b) Desired units of beginning finished goods Inventory -10 % of current quarter's budgeted sales. Bathworks Direct Material Purchase Budget Bathworks Direct Material Purchase Budget For the Year Ended December 31 Quarter 2 1 3 4 Year 5,100 3,900 4 15,600 3,200 4 12,800 5,000 4 20,000 17,200 4 68,800 20,400 39 3 40 41 42 43 44 45 46 Total production units (Budget 2) 47 Ounces per unit 48 Total production needs in ounces 49 Plus desired ounces of ending 50 direct materials inventory(a) 51 52 Less desired ounces of beginning 53 direct materials inventory(b) 54 Total ounces of direct materials 55 to be purchased 56 Cost per ounce 57 Total cost of direct materials 58 purchases 2,560 18,160 4,000 16,800 4,080 24,080 3,600 24,000 3,600 72,400 3,120 2,560 4,000 4,080 3,120 15,040 $ 0.10 14,240 $ 0.10 20,080 $0.10 19,920 S0.10 69,280 $ 0.10 $ 1,504 $1,424 $ 2,008 $ 1,992 $ 6,928 (a) Desired ounces of Ending direct materials inventory - 20% of next quarter's budgeted production needs in ounces (b) Desired ounces of beginning direct materials inventory - 20% of next quarter's budgeted production needs in ounces 59 50 51 52 53 54 4 55 -6 7 8 9 0 1 2 3 Bathworks Direct Labor Budget For the Year Ended December 31 Quarter 2 1 3 4 Year Total production units (Budget 2) Direct labor hours per unit Total direct labor hours Direct labor cost per hour Total direct labor cost 3,900 0.10 390 $20 $ 7,800 3,200 0.10 320 $ 20 $ 6,400 5,000 0.10 500 $20 $ 10,000 5,100 0.10 510 $20 $ 10,200 17,200 0.10 1720 $20 $ 34,400 4 5 6 Bathworks Overhead Budget For the Year Ended December 31 Quarter 2 3 4 Year 3,900 3,200 5,000 5,100 17,200 Units Variable overhead costs: Factory supplies ($0.05) Employee benefits ($0.25) Inspection ($0.10) Maintenance and repairs ($0.15) Utilities ($0.05) Total variable overhead costs Total fixed overhead costs Total overhead costs $195 975 390 585 195 $2,340 4,300 $6,640 $ 160 800 320 480 160 $ 1,920 4,300 $6,220 $250 1.250 500 750 250 $ 3,000 4,300 $7,300 $ 255 1275 510 765 255 $ 3,060 4,300 $ 7,360 $ 860 4,300 1,720 2,580 860 $ 10,320 17,200 $ 27520 Bathworks Selling and Administrative Expenses Budget For the Year Ended December 31 Quarter 1 2 3 4 Year 4,000 3,000 5,000 5,000 17.000 $400 600 200 $300 450 150 $ 500 750 250 $ 500 750 250 $ 1,700 2,550 850 Units Variable overhead costs: expenses: Delivery expenses ($0.10) Sales commissions ($0.15) Accounting ($0.05) Other administrative expenses (S0.20) Total variable selling and administrative expenses Total fixed selling and administrative expenses Total selling and administrative expenses 800 600 1,000 1,000 3400 $2,000 $1,500 $ 2,500 $2,500 $ 8,500 5,000 5,000 5,000 5,000 20,000 $7,000 $6,500 $ 7,500 $7,500 $ 28,500 Template Bathworks Cost of Goods Manufactured Budget For the Year Ended December 31 119 1207 121 Leave no cells blank. Ensure to enter "0" wherever applicable. 122 123 124 125 Direct materials used: 126 Direct materials inventory, beginning 127 Purchases during the year 128 Cost of direct materials available for use 129 Less direct materials inventory, ending 130 Cost of direct materials used 131 Direct labor costs 132 Overhead costs 133 Total manufacturing costs 134 Work in process inventory, beginning Less work in process inventory, ending 136 Cost of goods manufactured 137 138 Manufactured cost per unit $ 312 69,280 $ 83,040 360 $ 68,800 6,928 34,400 $ 41,328 135 $ 68,800 $ 68,800 17,200 units $ 4.00 139 "It is a company policy to have no units in process at year end. 140 141 142 143 43 8 44 45 46 47 18 49 Bathworks Budgeted Income Statement For the Year Ended December 31 $ 102,000 50 51 52 53 54 $3,400 41,328 $ 44,728 3,800 Sales Cost of goods sold: Finished goods inventory, beginning Cost of goods manufactured Cost of goods available for sale Less finished goods inventory, ending* Cost of goods sold Gross margin Selling and administrative expenses Income from operations Income taxes expense (30%) Net income 55 56 57 58 59 50 51 52 53 40,928 $ 61,092 28,500 $ 5,500 1,650 $ 22.800 54 Assumes a constant product unit cost during the year. Units Rate $ 2.00 1,900 $ 2.00 Beginning Ending 1,700 Finished goods inventory 3,400 - 3,800 55 56 57 58 59 8 1 9 10 11 Bathworks Sales Budget For the Year Ended December 31 Quarter 2 1 3 4 Year 12. 13 14 15 16 17 Sales in Units Selling Price per unit Total Sales 4,000 $6 $ 24,000 3,000 $6 $ 18,000 5,000 $6 $ 30,000 5,000 $6 $ 30,000 17,000 $6 $ 102,000 Bathworks Production Budget For the Year Ended December 31 Quarter 2 1 3 4 Year 4,000 3,000 5,000 5,000 17,000 18 19 20 2 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 3 40 41 Sales in units Plus desired units of ending finished goods inventory(a) Desired total units Less desired units of beginning finished goods inventory(b) Total production units 300 4,300 500 3,500 500 5,500 600 5,600 600 17,600 400 3,900 300 3,200 500 5,000 500 5,100 400 17,200 a) Desired units of ending finished goods Inventory - 10% of next quarter's budgeted sales. (b) Desired units of beginning finished goods Inventory -10 % of current quarter's budgeted sales. Bathworks Direct Material Purchase Budget Bathworks Direct Material Purchase Budget For the Year Ended December 31 Quarter 2 1 3 4 Year 5,100 3,900 4 15,600 3,200 4 12,800 5,000 4 20,000 17,200 4 68,800 20,400 39 3 40 41 42 43 44 45 46 Total production units (Budget 2) 47 Ounces per unit 48 Total production needs in ounces 49 Plus desired ounces of ending 50 direct materials inventory(a) 51 52 Less desired ounces of beginning 53 direct materials inventory(b) 54 Total ounces of direct materials 55 to be purchased 56 Cost per ounce 57 Total cost of direct materials 58 purchases 2,560 18,160 4,000 16,800 4,080 24,080 3,600 24,000 3,600 72,400 3,120 2,560 4,000 4,080 3,120 15,040 $ 0.10 14,240 $ 0.10 20,080 $0.10 19,920 S0.10 69,280 $ 0.10 $ 1,504 $1,424 $ 2,008 $ 1,992 $ 6,928 (a) Desired ounces of Ending direct materials inventory - 20% of next quarter's budgeted production needs in ounces (b) Desired ounces of beginning direct materials inventory - 20% of next quarter's budgeted production needs in ounces 59 50 51 52 53 54 4 55 -6 7 8 9 0 1 2 3 Bathworks Direct Labor Budget For the Year Ended December 31 Quarter 2 1 3 4 Year Total production units (Budget 2) Direct labor hours per unit Total direct labor hours Direct labor cost per hour Total direct labor cost 3,900 0.10 390 $20 $ 7,800 3,200 0.10 320 $ 20 $ 6,400 5,000 0.10 500 $20 $ 10,000 5,100 0.10 510 $20 $ 10,200 17,200 0.10 1720 $20 $ 34,400 4 5 6 Bathworks Overhead Budget For the Year Ended December 31 Quarter 2 3 4 Year 3,900 3,200 5,000 5,100 17,200 Units Variable overhead costs: Factory supplies ($0.05) Employee benefits ($0.25) Inspection ($0.10) Maintenance and repairs ($0.15) Utilities ($0.05) Total variable overhead costs Total fixed overhead costs Total overhead costs $195 975 390 585 195 $2,340 4,300 $6,640 $ 160 800 320 480 160 $ 1,920 4,300 $6,220 $250 1.250 500 750 250 $ 3,000 4,300 $7,300 $ 255 1275 510 765 255 $ 3,060 4,300 $ 7,360 $ 860 4,300 1,720 2,580 860 $ 10,320 17,200 $ 27520 Bathworks Selling and Administrative Expenses Budget For the Year Ended December 31 Quarter 1 2 3 4 Year 4,000 3,000 5,000 5,000 17.000 $400 600 200 $300 450 150 $ 500 750 250 $ 500 750 250 $ 1,700 2,550 850 Units Variable overhead costs: expenses: Delivery expenses ($0.10) Sales commissions ($0.15) Accounting ($0.05) Other administrative expenses (S0.20) Total variable selling and administrative expenses Total fixed selling and administrative expenses Total selling and administrative expenses 800 600 1,000 1,000 3400 $2,000 $1,500 $ 2,500 $2,500 $ 8,500 5,000 5,000 5,000 5,000 20,000 $7,000 $6,500 $ 7,500 $7,500 $ 28,500 Template Bathworks Cost of Goods Manufactured Budget For the Year Ended December 31 119 1207 121 Leave no cells blank. Ensure to enter "0" wherever applicable. 122 123 124 125 Direct materials used: 126 Direct materials inventory, beginning 127 Purchases during the year 128 Cost of direct materials available for use 129 Less direct materials inventory, ending 130 Cost of direct materials used 131 Direct labor costs 132 Overhead costs 133 Total manufacturing costs 134 Work in process inventory, beginning Less work in process inventory, ending 136 Cost of goods manufactured 137 138 Manufactured cost per unit $ 312 69,280 $ 83,040 360 $ 68,800 6,928 34,400 $ 41,328 135 $ 68,800 $ 68,800 17,200 units $ 4.00 139 "It is a company policy to have no units in process at year end. 140 141 142 143 43 8 44 45 46 47 18 49 Bathworks Budgeted Income Statement For the Year Ended December 31 $ 102,000 50 51 52 53 54 $3,400 41,328 $ 44,728 3,800 Sales Cost of goods sold: Finished goods inventory, beginning Cost of goods manufactured Cost of goods available for sale Less finished goods inventory, ending* Cost of goods sold Gross margin Selling and administrative expenses Income from operations Income taxes expense (30%) Net income 55 56 57 58 59 50 51 52 53 40,928 $ 61,092 28,500 $ 5,500 1,650 $ 22.800 54 Assumes a constant product unit cost during the year. Units Rate $ 2.00 1,900 $ 2.00 Beginning Ending 1,700 Finished goods inventory 3,400 - 3,800 55 56 57 58 59
