The appendix doesn't exist so I couldn't attach it.
Data Section Excel (first two pictures)
budget report section Excel (pictures 3-6)
index section (last photo), im sorry theres nothing in that sheet.
Data Section:
Budget report section:
index section:
MASTER BUDGET CASE STUDY OUTLIER PHARMA Outlier Pharma is a local firm that produces two types of over-the-counter cold and flu capsules: Theraflu and Codeine. The capsules are sold in the market in bottles. The products are manufactured in a two-step process and each process is treated as a separate cost centre. In the first process, the mixing department, Chemical-A is combined with Chemical-B. Encapsulating occurs in the second process where the output from the mixing department is placed in capsules. Due to the nature of the chemical compounds contained in the Chemical-A and Chemical-B, the manufacturing process occurs very rapidly. Production is therefore scheduled so that no work-in- process inventory is held at the end of each day, The following information has been extracted from the accounting records of Outlier Pharma or obtained through discussions with the senior management team: 1. Balance Sheet (Statement of Financial Position) as at 30 June 2020: Cash $ 15,000 Trade Creditors $ 8,520 Accounts Receivable 73,520 Shareholders' Equity 125.000 Raw Materials Inventory 5,448 Retained Earnings 74.898 Finished Goods Inventory (Theraflu S5,596: Codeine $3.854) 9,450 Plant and Equipment (Net) 105.000 TOTAL ASSETS S 208.418 TOTAL LIABILITY & EQUITY'S 208,418 2. The following schedule details the recent actual monthly bottle sales achieved for each product to 30 June 2020. Additionally, the sales manager has projected sales volume forecasts for each product to November 2020: PRODUCT APR MAY JUN JUL AUG SEP OCT NOV Thentlu 1.700 1.800 2.500 2.100 2.600 2,200 2.700 2.900 Codeine 1200 1300 1.100 L.100 1.300 1.000 900 1.000 3. Theraflu bottle sells for $20 each and Codeine bottle for $15 each. Due to the tight cost control practices. Outlier Pharma has been able to maintain selling price for the last 6 months and, in the absence of policy changes, do not foresee any change in the selling price in the next 6-month period. 4. All sales are on credit 25% are collected in the month of sale, 45% in the month following the sale and the remaining 30% is collected in the second month following sale. 5. Details of the standard costs to manufacture one bottle of each product are provided below: THERAFLU CODEINE FACTORS OF PRODUCTION Materials: Chemical-A 1.5 litres @50.30/litre 3.5 litres @$0.50/litre 2 litres @$0.30/litre 2 litres @ $0.50/litre Chemical-B Labour: 18 minutes @ $14/hour 12 minutes a $20/hour 12 minutes @$14/hour 6 minutes @ $20/hour Mixing Department Encapsulating Department Factory Overhead: Mixing Department Encapsulating Department $5.00/direct labour hour $5.00/direct labour hour $8.00/direct labour hour $8.00/direct labour hour 6. Depreciation on factory equipment is computed to be $0.50 per labour hour for each department and is included in the factory overhead rates shown above. 7. Materials are purchased on credit. Outlier pays 70% of accounts in the month of purchase and the remaining 30% in the following month. Labour costs and all overhead costs (except depreciation) are paid as they are incurred. Monthly differences between applied and actual overhead costs are expected to be negligible 8 Outlier has an inventory policy in place where purchases of raw materials are scheduled to be 65% of the next month's anticipated production needs. Additionally, production is scheduled so that the number of finished bottles on band at the end of each month is enough to support A0% of the following thonth's forecast sales 9. The number of inventory items held as at 30 June 2020 was as follows: MATERIAL/PRODUCT LITRE/BOTTLES Chemical-A 4540 litres Chemical-B 8172 litres Theraflu 635 bottles Codeine 295 bottles 10. Fixed selling and administration expenses are $21,000 per month (including $1,000 of depreciation on office equipment). Sales commissions are paid at 5% of total sales dollars. Selling and administration expenses are paid in the month incurred. 11. Outlier's management has a policy of maintaining a cash balance of $15.000 at the end of each month This amount represents a buffer that is maintained as a margin of safety against unforeseen events which might cause significant departures from budget estimates. If this requirement cannot be met, Outlier has a standby credit arrangement in place with its bank to borrow the exact amount needed to achieve the desired cash balance. If Outlier has a cash balance greater than $15.000 at the end of any month and an outstanding loan balance, then the cash over $15.000 is repaid to the bank. 12. The interest rate applicable to the bank loan is 12% per annum to be paid monthly, calculated on the principal amount outstanding at the end of the previous month. 13. Outlier uses the FIFO (first in first out) method to value ending inventory PART A (35 Marks) You have been appointed to the position of senior management accountant at Outlier Pharma. It is your responsibility to prepare a master budget for the next quarter (July, August and September 2020). The master budget documents are to consist of the following reports (the budgets should show the figures for each month and a total for the quarter where appropriate and round calculations to the nearest dollar): . . Sales Revenue Budget Production Budget (Bottles) Direct Material Purchase Budget (Units and S) Direct Labour Budget (Hours and S) Factory Overhead Budget Selling, Admin and Finance Budget Cash Budget Income Statement (Statement of Financial Performance) Balance Sheet (Statement of Financial Position) . The budget documents are to be prepared using Excel spreadsheet and the template should consist of three sections: an index section to identify yourself and spreadsheet layout, a data section that contains relevant case study information which will be used to construct the budgets, and a budget reports section. An Appendix workbook containing two spreadsheets (Appendix 1 and Appendix 2) has been attached to provide a suggested format for the design of the data section and the budget reports section. It is important to note that the figures in the report section should be derived from FORMULA ONLY that relates to information in the data section. That is the budget documents should be constructed in such a manner that will enable sensitivity ("WHAT IF") analyses to be performed Hint: Check that your budget reports mateh the key checking figures provided in Appendix 2 and the balance sheet balances. INSTRUCTIONS FOR CONSTRUCTING THE MASTER BUDGET TEMPLATE: o Round completed units down to the nearest unit (if applicable) using the ROUNDDOWN function. Completed units are only completed if they are whole numbers. Likewise, Units can only be sold in whole numbers. This truncates the number. o Other measures in the budgets (not the data input section) e.g. Liquid, kilograms, to be displayed to the nearest whole number using the format function. This does not truncate the number. Do not use the round function for this. o Dollar ar punts in the budgets (not the data input section) to be displayed to the nearest dollar using the format function. This does not truncate the number. Do not use the round function for this. I Monthly budgets columns and the total for the quarter column are required. o Only formulas are to be used in the budgets, you must keep your data section separate. Create links between the data section and the reports/budgets. Clipboard IN Font Ahonment N6 X A A B D G 2014AFE MANAGEMENT ACCOUNTING DATA SECTION Balance Sheet 30/6/2020 Cash Accounts Rble RM Chemical Inventory RM Chemical-B Inventory FG Theraflu Inventory FG Codeine Inventory Plant & Equipment Trade Creditors Shareholder's Equity Retained Earnings 635 295 5596 3854 $208418 $200,418 Apr May June July 3 Sales Theraflus Codeine Aug Sept Oct Nov SPS Change Theraus Codeine Theratu Codeine $ 3 Manufacturing Costs 4 Materials: Cost $ Theraflu $ Chemical 3 Chemical-B 7 Labour: 8 Mbung 9 Encapsulating D Factory O/H Depn -1 Moding 2 Encapsulating Cost Per Unit 13.50 -4 5. Inventory Policy (% of next month) 6 Finished Goods 37 Raw Materials 18 19 Selling & Administration 30 Fixed per month 31 Promotion 52 Depreciation per month 3 Sales Commission 14 5 Collection Policy 46 Month of Sale July 47 Month after Sale 28 Second month after sale 49 Discount 550 Payment 51 Lonth of Purchase 52 Month after Purchase 53 54 55 Finance Data Section Budget Report section Index Section Aug Starne US Copy co wrap Gen Paste BIU Format Painter 0-A Merge & Center Clapboard F Font 15 Alignment N6 X A 8 C E 49 Discount 50 Payment 61 Month of Purchase 52 Month after Purchase 53 SA 55 Finance 56 Margin of Safety 57 Interest on loan (per month) 58 59 60 Options Yes/No 61 a Discount no 82 b Change Price 63 Suppliers no 04 d MOS no 65 e Sales no 68 Promotion no 67 Layout no 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 36 97 08 59 100 101 102 103 Data Section Budget Report Section Index Section File Home Insert Page Layout Formulas Data Review View Help X Cut Arial 10 - " General 0 Copy 5 Wrap Text Merge & Center BIU NE GA $ % Format Painter Clipboard S Font 5 Alignment Nur 17 f 4 B F D E MASTER BUDGET-Outler Pharma July Aug Sept Total July Aug Sept Total 3,465 Schedule 1 Sales Budget 1 5 Theraflu 5 Codeine 7 Total Sales Revenue Budget 3 9 Schedule 2 Production (Units) 50 11 Theraflu 12 Budget Sales 13 Target Ending Inventory Units Required 15 Beginning inventory 16 Total Production Budget 17 18 Codeine 19 Budget Sales 20 Target Ending Inventory 21 Units Required 22 Beginning inventory 23 Total Production Budget 24 25 Schedule 3 Direct Materials Purchases Budget 28 27 Chemical-A (Litres) 28 Budget Usein Production 23 Target Ending Inventory 30 Units Required 31 Beginning inventory 32 Total Litres Purchased 33 34 Chemical A Purchase Costs 35 36 Chemical B Litres) 37 Budget Use in Production 38 Target Ending Inventory 39 Units Required 40 Beginning inventory 41 42 Total Litres Purchased 43 44 Chemical B Purchase Costs 45 -46 Total OM Purchases Budget July Aug Sept Total $ 21,200 Aug Sept Total 48 Schedule 4 Direct Labour Budget 49 50 Mixing Departinent Data Section Budget Report Section Index Section Arial 2 Wrap Text General X Cut . Format Painter 10 AA == a. A EEEEE BIU Merge & Center $ Chipboard Font ig Alignment N R A 8 D E F Chemical-B Purchase Costs Total DM Purchases Budget 5 21.208 Schedule 4 Direct Labour Budget July Aug Sept Total Mixing Department Direct Labour Hours Direct Labour Costs Encapsulating Department Direct Labour Hours Direct Labour Costs Total Direct Labour Budget Schedule 5 Factory Overhead Budget July Aug Sept Total Mixing Department Encapsulating Department Total Factory Overhead Budget Schedule 6 Selling, Admin & Finance Budget July Aug Sept Total $ 72,687 July Aug Sept Total Fixed Commission 1 Discount 2 Interest 3 Total Budget 4 5 Schedule 7 Cash Budget 6 -7 Beginning Balance 8 Collections: 9 Current month's sales 30 Previous month's sales 31 Second previous montis sales 32 Total Collections 33 34 Cash available for needs 85 Payments: 86 Current month's purchases 87 Month following burchase 88 Direct Materials 89 Direct Labour 90 Factory Overhead 91 Selling & Admin 92 Interest Total Dante Data Section Budget Report Section Index Section Home Insert Page Layout Formulas Data Review View Help Arial 10 - AA General el X Cut OB Copy Format Painter Clipboard Wrap Text # 3 Merge & Center te BIU a. A $ Font Alignment NI 7 8 X B D E F G Total Budget $ 72,687 Schedule 7 Cash Budget July Aug Sept Total Beginning Balance Collections: Current month's sales Previous month's sales Second previous month's sales Total Collections Cash available for needs Payments: Current month's purchases Month following purchase Direct Materials Direct Labour Factory Overhead Selling & Admin Interest Total Payments 12.361 10,900 July Aug Sept Total Cash Excess Loan drawdown Amount available for Loan repayment 3 Loan repayment Balance 0 11 Loan Balance 92 3 Schedule 8 Income Statement 34 5 36 Sales 37 Less: Cost of Goods Sold DB Beginning inventory 09 Cost of Goods Manufactured 10 Cost of Goods Available for Sale 11 Less Ending Inventory 12 Cost of Goods Sold 33 14 Gross Profit 15 Less: Operating Expenses 117 Selling & Admin Finance 119 120 121 Net Profit 122 123 Schedule 9 Balance Sheet Data Section Budast Bogart Section 16 $ 3.175 General ste Da Copy Format Painter Anal -10 AA 29 Wrap Text BIO. ALE Merge & Center - $ Clipboard Font Alignment No 7 X A A B C D E F G Net Prolit $ 3175 Schedule 9 Balance Sheet July Aug Sept Cash Accounts Rble RM Chemical A Inventory RM Chemical-B Inventory FG Theraflu Inventory FG Codeine Bouy Inventory Plant & Equipment Total Assets $ 209,824 Accounts Payable Loan Total Liabilities Capital Retained Earnings Liabilities and Owners Equity $ 209,824 0 3 14 55 7 58 59 20 Dota Section Budget Report Section Index Section D Ohranie IEET Clipboard Font Alignment A1 A A B D E F . 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 Data Section Budget Report Section Index Section MASTER BUDGET CASE STUDY OUTLIER PHARMA Outlier Pharma is a local firm that produces two types of over-the-counter cold and flu capsules: Theraflu and Codeine. The capsules are sold in the market in bottles. The products are manufactured in a two-step process and each process is treated as a separate cost centre. In the first process, the mixing department, Chemical-A is combined with Chemical-B. Encapsulating occurs in the second process where the output from the mixing department is placed in capsules. Due to the nature of the chemical compounds contained in the Chemical-A and Chemical-B, the manufacturing process occurs very rapidly. Production is therefore scheduled so that no work-in- process inventory is held at the end of each day, The following information has been extracted from the accounting records of Outlier Pharma or obtained through discussions with the senior management team: 1. Balance Sheet (Statement of Financial Position) as at 30 June 2020: Cash $ 15,000 Trade Creditors $ 8,520 Accounts Receivable 73,520 Shareholders' Equity 125.000 Raw Materials Inventory 5,448 Retained Earnings 74.898 Finished Goods Inventory (Theraflu S5,596: Codeine $3.854) 9,450 Plant and Equipment (Net) 105.000 TOTAL ASSETS S 208.418 TOTAL LIABILITY & EQUITY'S 208,418 2. The following schedule details the recent actual monthly bottle sales achieved for each product to 30 June 2020. Additionally, the sales manager has projected sales volume forecasts for each product to November 2020: PRODUCT APR MAY JUN JUL AUG SEP OCT NOV Thentlu 1.700 1.800 2.500 2.100 2.600 2,200 2.700 2.900 Codeine 1200 1300 1.100 L.100 1.300 1.000 900 1.000 3. Theraflu bottle sells for $20 each and Codeine bottle for $15 each. Due to the tight cost control practices. Outlier Pharma has been able to maintain selling price for the last 6 months and, in the absence of policy changes, do not foresee any change in the selling price in the next 6-month period. 4. All sales are on credit 25% are collected in the month of sale, 45% in the month following the sale and the remaining 30% is collected in the second month following sale. 5. Details of the standard costs to manufacture one bottle of each product are provided below: THERAFLU CODEINE FACTORS OF PRODUCTION Materials: Chemical-A 1.5 litres @50.30/litre 3.5 litres @$0.50/litre 2 litres @$0.30/litre 2 litres @ $0.50/litre Chemical-B Labour: 18 minutes @ $14/hour 12 minutes a $20/hour 12 minutes @$14/hour 6 minutes @ $20/hour Mixing Department Encapsulating Department Factory Overhead: Mixing Department Encapsulating Department $5.00/direct labour hour $5.00/direct labour hour $8.00/direct labour hour $8.00/direct labour hour 6. Depreciation on factory equipment is computed to be $0.50 per labour hour for each department and is included in the factory overhead rates shown above. 7. Materials are purchased on credit. Outlier pays 70% of accounts in the month of purchase and the remaining 30% in the following month. Labour costs and all overhead costs (except depreciation) are paid as they are incurred. Monthly differences between applied and actual overhead costs are expected to be negligible 8 Outlier has an inventory policy in place where purchases of raw materials are scheduled to be 65% of the next month's anticipated production needs. Additionally, production is scheduled so that the number of finished bottles on band at the end of each month is enough to support A0% of the following thonth's forecast sales 9. The number of inventory items held as at 30 June 2020 was as follows: MATERIAL/PRODUCT LITRE/BOTTLES Chemical-A 4540 litres Chemical-B 8172 litres Theraflu 635 bottles Codeine 295 bottles 10. Fixed selling and administration expenses are $21,000 per month (including $1,000 of depreciation on office equipment). Sales commissions are paid at 5% of total sales dollars. Selling and administration expenses are paid in the month incurred. 11. Outlier's management has a policy of maintaining a cash balance of $15.000 at the end of each month This amount represents a buffer that is maintained as a margin of safety against unforeseen events which might cause significant departures from budget estimates. If this requirement cannot be met, Outlier has a standby credit arrangement in place with its bank to borrow the exact amount needed to achieve the desired cash balance. If Outlier has a cash balance greater than $15.000 at the end of any month and an outstanding loan balance, then the cash over $15.000 is repaid to the bank. 12. The interest rate applicable to the bank loan is 12% per annum to be paid monthly, calculated on the principal amount outstanding at the end of the previous month. 13. Outlier uses the FIFO (first in first out) method to value ending inventory PART A (35 Marks) You have been appointed to the position of senior management accountant at Outlier Pharma. It is your responsibility to prepare a master budget for the next quarter (July, August and September 2020). The master budget documents are to consist of the following reports (the budgets should show the figures for each month and a total for the quarter where appropriate and round calculations to the nearest dollar): . . Sales Revenue Budget Production Budget (Bottles) Direct Material Purchase Budget (Units and S) Direct Labour Budget (Hours and S) Factory Overhead Budget Selling, Admin and Finance Budget Cash Budget Income Statement (Statement of Financial Performance) Balance Sheet (Statement of Financial Position) . The budget documents are to be prepared using Excel spreadsheet and the template should consist of three sections: an index section to identify yourself and spreadsheet layout, a data section that contains relevant case study information which will be used to construct the budgets, and a budget reports section. An Appendix workbook containing two spreadsheets (Appendix 1 and Appendix 2) has been attached to provide a suggested format for the design of the data section and the budget reports section. It is important to note that the figures in the report section should be derived from FORMULA ONLY that relates to information in the data section. That is the budget documents should be constructed in such a manner that will enable sensitivity ("WHAT IF") analyses to be performed Hint: Check that your budget reports mateh the key checking figures provided in Appendix 2 and the balance sheet balances. INSTRUCTIONS FOR CONSTRUCTING THE MASTER BUDGET TEMPLATE: o Round completed units down to the nearest unit (if applicable) using the ROUNDDOWN function. Completed units are only completed if they are whole numbers. Likewise, Units can only be sold in whole numbers. This truncates the number. o Other measures in the budgets (not the data input section) e.g. Liquid, kilograms, to be displayed to the nearest whole number using the format function. This does not truncate the number. Do not use the round function for this. o Dollar ar punts in the budgets (not the data input section) to be displayed to the nearest dollar using the format function. This does not truncate the number. Do not use the round function for this. I Monthly budgets columns and the total for the quarter column are required. o Only formulas are to be used in the budgets, you must keep your data section separate. Create links between the data section and the reports/budgets. Clipboard IN Font Ahonment N6 X A A B D G 2014AFE MANAGEMENT ACCOUNTING DATA SECTION Balance Sheet 30/6/2020 Cash Accounts Rble RM Chemical Inventory RM Chemical-B Inventory FG Theraflu Inventory FG Codeine Inventory Plant & Equipment Trade Creditors Shareholder's Equity Retained Earnings 635 295 5596 3854 $208418 $200,418 Apr May June July 3 Sales Theraflus Codeine Aug Sept Oct Nov SPS Change Theraus Codeine Theratu Codeine $ 3 Manufacturing Costs 4 Materials: Cost $ Theraflu $ Chemical 3 Chemical-B 7 Labour: 8 Mbung 9 Encapsulating D Factory O/H Depn -1 Moding 2 Encapsulating Cost Per Unit 13.50 -4 5. Inventory Policy (% of next month) 6 Finished Goods 37 Raw Materials 18 19 Selling & Administration 30 Fixed per month 31 Promotion 52 Depreciation per month 3 Sales Commission 14 5 Collection Policy 46 Month of Sale July 47 Month after Sale 28 Second month after sale 49 Discount 550 Payment 51 Lonth of Purchase 52 Month after Purchase 53 54 55 Finance Data Section Budget Report section Index Section Aug Starne US Copy co wrap Gen Paste BIU Format Painter 0-A Merge & Center Clapboard F Font 15 Alignment N6 X A 8 C E 49 Discount 50 Payment 61 Month of Purchase 52 Month after Purchase 53 SA 55 Finance 56 Margin of Safety 57 Interest on loan (per month) 58 59 60 Options Yes/No 61 a Discount no 82 b Change Price 63 Suppliers no 04 d MOS no 65 e Sales no 68 Promotion no 67 Layout no 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 36 97 08 59 100 101 102 103 Data Section Budget Report Section Index Section File Home Insert Page Layout Formulas Data Review View Help X Cut Arial 10 - " General 0 Copy 5 Wrap Text Merge & Center BIU NE GA $ % Format Painter Clipboard S Font 5 Alignment Nur 17 f 4 B F D E MASTER BUDGET-Outler Pharma July Aug Sept Total July Aug Sept Total 3,465 Schedule 1 Sales Budget 1 5 Theraflu 5 Codeine 7 Total Sales Revenue Budget 3 9 Schedule 2 Production (Units) 50 11 Theraflu 12 Budget Sales 13 Target Ending Inventory Units Required 15 Beginning inventory 16 Total Production Budget 17 18 Codeine 19 Budget Sales 20 Target Ending Inventory 21 Units Required 22 Beginning inventory 23 Total Production Budget 24 25 Schedule 3 Direct Materials Purchases Budget 28 27 Chemical-A (Litres) 28 Budget Usein Production 23 Target Ending Inventory 30 Units Required 31 Beginning inventory 32 Total Litres Purchased 33 34 Chemical A Purchase Costs 35 36 Chemical B Litres) 37 Budget Use in Production 38 Target Ending Inventory 39 Units Required 40 Beginning inventory 41 42 Total Litres Purchased 43 44 Chemical B Purchase Costs 45 -46 Total OM Purchases Budget July Aug Sept Total $ 21,200 Aug Sept Total 48 Schedule 4 Direct Labour Budget 49 50 Mixing Departinent Data Section Budget Report Section Index Section Arial 2 Wrap Text General X Cut . Format Painter 10 AA == a. A EEEEE BIU Merge & Center $ Chipboard Font ig Alignment N R A 8 D E F Chemical-B Purchase Costs Total DM Purchases Budget 5 21.208 Schedule 4 Direct Labour Budget July Aug Sept Total Mixing Department Direct Labour Hours Direct Labour Costs Encapsulating Department Direct Labour Hours Direct Labour Costs Total Direct Labour Budget Schedule 5 Factory Overhead Budget July Aug Sept Total Mixing Department Encapsulating Department Total Factory Overhead Budget Schedule 6 Selling, Admin & Finance Budget July Aug Sept Total $ 72,687 July Aug Sept Total Fixed Commission 1 Discount 2 Interest 3 Total Budget 4 5 Schedule 7 Cash Budget 6 -7 Beginning Balance 8 Collections: 9 Current month's sales 30 Previous month's sales 31 Second previous montis sales 32 Total Collections 33 34 Cash available for needs 85 Payments: 86 Current month's purchases 87 Month following burchase 88 Direct Materials 89 Direct Labour 90 Factory Overhead 91 Selling & Admin 92 Interest Total Dante Data Section Budget Report Section Index Section Home Insert Page Layout Formulas Data Review View Help Arial 10 - AA General el X Cut OB Copy Format Painter Clipboard Wrap Text # 3 Merge & Center te BIU a. A $ Font Alignment NI 7 8 X B D E F G Total Budget $ 72,687 Schedule 7 Cash Budget July Aug Sept Total Beginning Balance Collections: Current month's sales Previous month's sales Second previous month's sales Total Collections Cash available for needs Payments: Current month's purchases Month following purchase Direct Materials Direct Labour Factory Overhead Selling & Admin Interest Total Payments 12.361 10,900 July Aug Sept Total Cash Excess Loan drawdown Amount available for Loan repayment 3 Loan repayment Balance 0 11 Loan Balance 92 3 Schedule 8 Income Statement 34 5 36 Sales 37 Less: Cost of Goods Sold DB Beginning inventory 09 Cost of Goods Manufactured 10 Cost of Goods Available for Sale 11 Less Ending Inventory 12 Cost of Goods Sold 33 14 Gross Profit 15 Less: Operating Expenses 117 Selling & Admin Finance 119 120 121 Net Profit 122 123 Schedule 9 Balance Sheet Data Section Budast Bogart Section 16 $ 3.175 General ste Da Copy Format Painter Anal -10 AA 29 Wrap Text BIO. ALE Merge & Center - $ Clipboard Font Alignment No 7 X A A B C D E F G Net Prolit $ 3175 Schedule 9 Balance Sheet July Aug Sept Cash Accounts Rble RM Chemical A Inventory RM Chemical-B Inventory FG Theraflu Inventory FG Codeine Bouy Inventory Plant & Equipment Total Assets $ 209,824 Accounts Payable Loan Total Liabilities Capital Retained Earnings Liabilities and Owners Equity $ 209,824 0 3 14 55 7 58 59 20 Dota Section Budget Report Section Index Section D Ohranie IEET Clipboard Font Alignment A1 A A B D E F . 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 Data Section Budget Report Section Index
