Texas Rex, Inc. Ending Finished Goods Inventory Budget For the year ending December 31, 2018 Logo T-shirts Unit Cost ____________ Total Ending Inventory Texas Rex, Inc. Cost of Goods Sold Budget For the year ending December 31, 2018 Direct Materials Used Direct Labor Used Overhead ____________ Budgeted Manufacturing Costs Beginning Finished Goods ____________ Cost of Goods Available for Sale Less Ending Finished Goods _____________ Budgeted Cost of Goods Sold Assume the variable Selling and Administrative Expenses are $0.10 per unit. Administrative salaries are $1420 per quarter. Utilities are $50 per quarter. Depreciation is $150 per quarter. Advertising for Quarters 1 through 4 are $100, $200, $800, $500, respectively. Texas Rex, Inc. Selling and Administrative Expenses Budget For the year ending December 31, 2018 Q1 Q2 Q3 Q4 Total Planned Sales in units Var. S & Adm Exp _______ _______ ________ _______ ________ Per unit Total Variable Expenses Fixed S & Adm Expenses _______ _______ ________ _______ ________ Total Fixed Expenses _______ _______ ________ _______ ________ Total S & Adm Expenses Texas Rex expects the following Cash Receipts in each quarter: Q1 Q2 Q3 Q4 $10,600 $11,850 $14,775 $19,625 Texas Rex believes the amount of cash needed for payments on account for raw materials each quarter is: Q1 Q2 Q3 Q4 $4,594 $5,039 $6,219 $6,819

Texas Rex sells t-shirts. Expected sales for each quarter is 1000, 1200, 1500, and 2000 t-shirts at $10.00 each. They anticipate no price change