Master Budget FY 2011/2012 FY - full Q1 Q2 03 Q4 year REVENUE Commissions (2% sales) 60,000 15,000 15,000 15,000 15,000 Direct wages fixed 200,000 50,000 50,000 50,000 50,000 Sales - income 3,000,000 750,000 750,000 750,000 750,000 Cost of Goods Sold 400,000 100,000 100,000 100,000 100,000 Gross Profit 2,340,000 585,000 585,000 585,000 585,000 EXPENSES General & Administrative Expenses Accounting fees 20,000 5,000 5,000 5,000 5,000 Legal fees 5,000 1,250 1,250 1,250 1,250 Bank charges 600 150 150 150 150 Office supplies 5,000 1,250 1,250 1,250 1,250 Postage & printing 400 100 100 100 100 Dues & subscriptions 500 125 125 125 125 Telephone 10,000 2,500 2,500 2,500 2,500 Repairs & maintenance 50,000 12,500 12,500 12,500 12,500 Payroll tax 25,000 6,250 6,250 6,250 6,250 Marketing Expenses Advertising 200,000 50,000 50,000 50,000 50,000 Employment Expenses Superannuateon 45,000 11,250 11,250 11,250 11,250 Wages & salaries 500,000 125,000 125,000 125,000 125,000 Staff amenities 20,000 5,000 5,000 5,000 5,000 Occupancy Costs Electricity 40,000 10,000 10,000 10,000 10,000 Insurance 100,000 25,000 25,000 25,000 25,000 Rates 100,000 25,000 25,000 25,000 25,000 Rent 200,000 50,000 50,000 50,000 50,000 Water 30,000 7,500 7,500 7,500 7,500 Waste removal 50,000 12,500 12,500 12,500 12,500 TOTAL EXPENSES 1,401,500 350,375 350,375 350,375 350,375 NET PROFIT (BEFORE INTEREST & TAX) 938,500 234,625 234,625 234,625 234,625 Income Tax Expense (25%Net) 234,625 58,656 58,656 58,656 58,656 NET PROFIT AFTER TAX 703,875 175,969 175,969 175,969 175,969