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You work for XYZcom. Prepare an operational budget for the next financial year using the Profit and Loss statement for the year just past. Use the following assumptions: 1. Cartage and freight are 10% of income. 2. Cost of sales is 20% of income. 3. You only employ casual staff for production and wages per product are 20% of income for that product. 4. Wages on cost (superannuation, payroll tax, workcover etc) is 15% of production and management salaries). 5. Product 1 will decrease in sales from January by 20%. 6. Product 2 will decrease in sales from 1 January by 10%. 7. Product 3 will increase in sales in sales from 1 July by 30%. 8. Product 4 will increase in sales from 1 January by 50%. XYZcom Profit and loss 1st July 20xx to 30 June 20xx+1 Jul Aug Sep Oct NOV Dec Jan Feb Mar Apr May Jun Income Product 1 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $60,000 Product 2 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $120,000 Products $8,000 $8.000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $96,000 Product $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $340,000 $43,000 $43,000 $43,000 $43,000 $43.000 $43,000 $43,000 $43,000 $43,000 $43,000 $43,000 $43,000 Total income $516,000 Cost of sales Product 1 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $12,000 Variable costs $1,000 $2,000 Product 2 $2.000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 52,000 $2,000 $24,000 Cartage & $4,300 54,300 $4,300 $4,300 $4,300 54,300 54,300 54,300 $4,300 $4,300 54,300 $51,600 Products $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $19,200 $1,090 $1,890 $1,890 $1,890 $1,890 $1,890 $1,890 $1,890 $1,890 $1,890 $1,890 $1,890 $22.680 Product 4,000 54,000 54,000 $4,000 $4,000 $4,000 $4,000 $4,000 54,000 54,000 $4,000 $4,000 $48,000 Salary and wage on costs Total Cost $8,600 $8,600 $8,600 $8,600 $8,600 $8,600 $8,600 $8,600 $8,600 $8,600 $8,600 $8.500 $103.200 Wages product 1 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $12,000 Gross Profit $34,400 $34,400 $34,400 $34,400 $34,400 $34,400 $34,400 $34,400 $34,400 $34,400 $34,400 $412,800 $2,000 $2,000 Wages product 2 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $24,000 $1,600 $1,600 $1,600 Expenses $1,600 $1,600 $1,600 $1,000 $1,600 $1,600 $1,600 wages products $19,200 $1,600 $1,600 Fixed costs $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 wases product $48.000 Cleaning $500 $500 $500 $500 $500 $500 $500 5500 $500 $500 $500 $6,000 $26,740 Bank fees $250 $250 $250 $250 $250 $26,740 $250 $26,740 $250 $250 5250 526,740 $320,880 $250 $3.000 $26,740 $250 $250 $26,740 $26,740 Total Expenses $25,740 $25,740 $25,740 $25,740 $26,740 Insurance $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $12,000 57,660 $7,660 $7,660 $7,650 $7,560 $7,660 $7,650 Rent 55,000 $7,660 $5,000 57,660 $60.000 $5,000 $91,920 57,560 $5,000 $5,000 $5,000 $5,000 $7,650 57,660 $5,000 $5,000 55,000 55,000 55,000 Operating Profit Electricity & $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $12.000 You work for XYZcom. Prepare an operational budget for the next financial year using the Profit and Loss statement for the year just past. Use the following assumptions: 1. Cartage and freight are 10% of income. 2. Cost of sales is 20% of income. 3. You only employ casual staff for production and wages per product are 20% of income for that product. 4. Wages on cost (superannuation, payroll tax, workcover etc) is 15% of production and management salaries). 5. Product 1 will decrease in sales from January by 20%. 6. Product 2 will decrease in sales from 1 January by 10%. 7. Product 3 will increase in sales in sales from 1 July by 30%. 8. Product 4 will increase in sales from 1 January by 50%. XYZcom Profit and loss 1st July 20xx to 30 June 20xx+1 Jul Aug Sep Oct NOV Dec Jan Feb Mar Apr May Jun Income Product 1 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $60,000 Product 2 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $120,000 Products $8,000 $8.000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $8,000 $96,000 Product $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $340,000 $43,000 $43,000 $43,000 $43,000 $43.000 $43,000 $43,000 $43,000 $43,000 $43,000 $43,000 $43,000 Total income $516,000 Cost of sales Product 1 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $12,000 Variable costs $1,000 $2,000 Product 2 $2.000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 52,000 $2,000 $24,000 Cartage & $4,300 54,300 $4,300 $4,300 $4,300 54,300 54,300 54,300 $4,300 $4,300 54,300 $51,600 Products $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $1,600 $19,200 $1,090 $1,890 $1,890 $1,890 $1,890 $1,890 $1,890 $1,890 $1,890 $1,890 $1,890 $1,890 $22.680 Product 4,000 54,000 54,000 $4,000 $4,000 $4,000 $4,000 $4,000 54,000 54,000 $4,000 $4,000 $48,000 Salary and wage on costs Total Cost $8,600 $8,600 $8,600 $8,600 $8,600 $8,600 $8,600 $8,600 $8,600 $8,600 $8,600 $8.500 $103.200 Wages product 1 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $12,000 Gross Profit $34,400 $34,400 $34,400 $34,400 $34,400 $34,400 $34,400 $34,400 $34,400 $34,400 $34,400 $412,800 $2,000 $2,000 Wages product 2 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $24,000 $1,600 $1,600 $1,600 Expenses $1,600 $1,600 $1,600 $1,000 $1,600 $1,600 $1,600 wages products $19,200 $1,600 $1,600 Fixed costs $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 $4,000 wases product $48.000 Cleaning $500 $500 $500 $500 $500 $500 $500 5500 $500 $500 $500 $6,000 $26,740 Bank fees $250 $250 $250 $250 $250 $26,740 $250 $26,740 $250 $250 5250 526,740 $320,880 $250 $3.000 $26,740 $250 $250 $26,740 $26,740 Total Expenses $25,740 $25,740 $25,740 $25,740 $26,740 Insurance $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $12,000 57,660 $7,660 $7,660 $7,650 $7,560 $7,660 $7,650 Rent 55,000 $7,660 $5,000 57,660 $60.000 $5,000 $91,920 57,560 $5,000 $5,000 $5,000 $5,000 $7,650 57,660 $5,000 $5,000 55,000 55,000 55,000 Operating Profit Electricity & $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $12.000
