Optima Company
Balance Sheet
12/31/2019
Assets
Cash			$	250,000.00
Finished goods invenotry			650,000.00
Direct materials inventory			120,000.00
Accounts receivable			225,000.00
Plant, Property,and equipment, net		3,500,000.00
Total assets				4,745,000.00
Liabilities and Stockholders' Equity
Accounts Payable			$	90,000.00
Capital Stock				3,000,000.00
Retained earnings				1,655,000.00
Total liabilities and stockholders equity		4,745,000.00

								Points
Optima Company
Sales Budget
for the year ending December 31, 2020
		Qtr. 1	Qtr. 2	Qtr. 3	Qtr. 4	Total
Budgeted Sales (Units)		65,000.00	70,000.00	75,000.00	90,000.00	300,000.00		2	Points
Unit Price		33.50	33.50	33.50	33.50	33.50
Total Sales		$2,177,500.00	$2,345,000.00	$2,512,500.00	$3,015,000.00	$10,050,000.00
Optima Company
Production Budget
for the year ending December 31, 2020
		Qtr. 1	Qtr. 2	Qtr. 3	Qtr. 4	Total
Budgeted Sales (Units)		65,000	70,000	75,000	90,000	300,000		3	Points
Desired Ending Inventory (Units)		#VALUE!
Less: Beginning Inventory (Units)
Budgeted Production (Units)
Optima Company
Direct Materials Purchases Budget
for the year ending December 31, 2020
		Qtr. 1	Qtr. 2	Qtr. 3	Qtr. 4	Total
Budgeted Production (Units)								4	Points
Materials per unit
Production needs
Desired ending Inventory
Less: Beginning Inventory
Purchases
Cost per unit
Purchase cost
Optima Company
Direct Labor Budget
for the year ending December 31, 2020
		Qtr. 1	Qtr. 2	Qtr. 3	Qtr. 4	Total
Budgeted Production (Units)								2	Points
Hours per unit
Hours needed
Cost per hour
Total Cost
Optima Company
Overhead Budget
for the year ending December 31, 2020
		Qtr. 1	Qtr. 2	Qtr. 3	Qtr. 4	Total
Budgeted hours								2	Points
Variable Rate
Budgeted VOH
Budgeted FOH
Total OH
Optima Company
Selling and Administrative Expenses Budget
for the year ending December 31, 2020
		Qtr. 1	Qtr. 2	Qtr. 3	Qtr. 4	Total
Budgeted Sales (Units)								2	Points
Variable Rate
Variable expenses
Fixed expenses
Total expenses
Optima Company
Budgeted Cost Per Unit
for the year ending December 31, 2020
						Unit Cost
Budgeted Manufacturing Costs:
Direct Materials								2	Points
Direct Labor
Overhead:
Variable
Fixed
Total Unit Costs
Optima Company
Cost of Goods Sold Budget
for the year ending December 31, 2020
		Qtr. 1	Qtr. 2	Qtr. 3	Qtr. 4	Total
Budgeted Sales (Units)								2	Points
Budgeted Manufacturing Costs per unit
Budgeted Cost of Goods Sold
Optima Company
Cash Budget
for the year ending December 31, 2020
Budgeted Cash Receipts		Qtr. 1	Qtr. 2	Qtr. 3	Qtr. 4	Total
Budgeted Sales Revenue								4	Points
Cash Collections
Credit Collections (Current Month)
Credit Collections (Following Month)
Budgeted Cash Receipts
Budgeted Cash Disbursements		Qtr. 1	Qtr. 2	Qtr. 3	Qtr. 4	Total
Budgeted Raw Materials Purchases
Raw Materials Payments (Current Month)								5	Points
Raw Materials Payments (Following Month)
Direct Labor
Manufacturing Overhead
less: Depreciation
Selling and Administrative Expenses
less: Depreciation
Equipment Purchases
Dividend Payments
Budgeted Annual Cash Flow		Qtr. 1	Qtr. 2	Qtr. 3	Qtr. 4	Total
Beginning Cash Balance								4	Points
Plus: Cash Receipts
Less: Cash Payments
Preliminary Cash Balance
Cash Borrowed / Repaid
Ending Cash Balance
Optima Company
Income Statement
for the year ending December 31, 2020
Sales								2	Points
Less: COGS
Gross margin
Less: S&A Expenses
Income before taxes
Optima Company
Retained Earnings Statement
for the year ending December 31, 2020
Beginning Retained Earnings								2	Points
Add: Net Income(Loss)
Deduct Dividends
Ending Retained Earnings
Optima Company
Balance Sheet
Decmeber 31, 2020
Assets		Liabilities and Stockholders Equity		4	Points
Cash				Accounts Payable
Accounts Receivable				Line of Credit Payable
Finished Goods Inventory				Capital Stock					Total
Direct Materials Inventory				Retained Earnings			40	Points
Plant, Property, and Equipment
Total Assets				Total Liabilities & Stockholders' Equity			0