Second Page
Make a Proposed Budget about Kpop merchandise store.
?Direct Labor Budget
?Manufacturing Overhead Budget
?Sales and Administrative Expense Budget
?Cost of Good Manufactured
?Income Statement
Example and Guide:
Sales and Administrative Expense Budget Earthy Essentials Sales and Administrative Expense Budget For the Year Ended December 31, 2020 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total Advertising Expense 30,000 30,000 30,000 30,000 120,000 Insurance Expense 10,000 10,000 10,000 10,000 40,000 Salaries Expense 171,000 171,000 171,000 171,000 684000 Delivery Expense 25,500 25,500 25500 25500 102000 Depreciation Expense - Equipment 850 350 850 850 3400 Miscellaneous Expense 5000 5000 5000 5000 20000 Total S&A Expense Budget 242,350 242,350 242,350 242,350 969400 Cost of Goods Manufactured Earthy Essentials Statement of Goods Manufactured For the Year Ended Dec. 31, 2020 Direct Materials Used Raw Materials, beginning 0 Add: Net Costs of Purchases Purchases - Raw Materials 2,547,214 Transportation In 12,000 2,559,214 Raw Materials Available for Use 2,559,214 Less: Raw Materials, ending 143,203 2,416,011 Direct Labor 138,115.75 Manufacturing Overhead Indirect Labor 126,000 Indirect Materials 36,000 Depreciation Expense 3, 400 Factory Utilities 60,000 Employee's Payroll Contribution 40,000 Transportation Out 2,000 264000 Total Manufacturing Costs 2,818, 126 Costs of Goods Manufactured 2,818,126Income Statement Earthy Essentials Income Statement For the Year Ended Dec. 31, 2019 Net Sales Gross Sales P 4,310,010 Cost of Sales Finished goods, beginning P 0 Add: Cost of Goods Manufactured 2,818,216 Goods Available for Sale P 2818216 Less: Finished goods, ending 135,595 Cost of Sales 2,682,621 Gross Profit P 1,627,389 Operating Expense Selling Expense Delivery Expense P 102,000 Advertising Expense 120000 Total Selling Expense P 222,000 Administrative Expense Office Salaries Expense P 684,000 Insurance Expense 40,000 Depreciation Expense 3,400 Miscellaneous Expense 20,000 Total Administrative Expense 747,400 Total Operating Expense 969,400 Operating Profit P 657,989 Finance Cost 100,000 Profit P 557,989Direct Labor Budget Direct Labor Budget For the Year Ended December 31, 2020 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total Required production (unit) 12663 13380 15895 16816 58754 Direct Labor hours per unit 0.05 0.05 0.05 0.05 0.05 Total Direct Labor hours needed 633.15 669 794.75 840.8 2937.7 Direct Labor cost per hour 47.5 47.5 47.5 47.5 47.5 Total Direct Labor cost 30074.625 635550 37750.625 39938 139540.75 Manufacturing Overhead Budget Earthy Essentials Manufacturing Overhead Budget For the Year Ended December 31, 2020 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total Indirect Labor 31500 31500 31500 31500 126000 Indirect Materials 9,000 9,000 9,000 9,000 36,000 Depreciation Expense - Equipment 850 850 850 850 3400 Factory Utilities 15,000 15,000 15,000 15,000 60,000 Employee's Payroll Contribution 10,000 10,000 10,000 10,000 40,000 Transportation In 500 500 500 500 2000 Total Manufacturing Overhead 66850 66850 66850 66850 267400 Less Depreciation Expense 350 850 850 350 3400 Cash paid for Manufacturing Overhead 66000 66000 66000 66000 264000
