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TMGT 2 0 1 0 - Master Budget Exercise - Merchandising Business Your Mission... to prepare a Master Budget Big Banana Sport Drinks Sales Budget
TMGT Master Budget Exercise Merchandising
Business
Your Mission... to prepare a Master Budget Big Banana Sport Drinks
Sales Budget
Merchandise Purchases Budget
Selling and Administrative Expense Budget
Capital Expenditures Budget
Collections and payments Budget
ProForma Budgeted Income Statement
Cash Budget
ProForma Budgeted Balance Sheet
Big Banana Sport Drinks is a business that sells a specialty sports drinks
The company's fiscal year ends on December Information to be used for the operating budget this coming year follows.
Sales and Merchandise Purchases Budget Information
Sales for this coming year ending December in units are expected to be as follows:
tableFirst quarter,Second quarter,Third quarter,Fourth quarter,
Each unit is sold for $
Cost of goods sold is of sales to be used for the merchandise purchases budget Merchandise inventory is maintained at a level equal to of the next quarter's cost of goods sold. Budgeted sales for the first quarter of the following year are $
Operating and Interest Expenses Budget Information
Management estimates all other costs, aside from advertising and depreciation, are fixed.
Selling and administrative cost estimates for the first quarter of the coming year are expected to total $ all of which will be paid during the first quarter of the coming year.
The cash balanxe at the begining of this coming year expected to be $
A dividend payment of $ will be paid in each quarter to owners of the business
$ of the long term debt will be repaid at the end of Q
Budget balance sheet and invome statement ingormation. Big banana started the year with long term debt of $ expected account balances at the end of the fourthe quarter are property, plant and equipment common stock The companys income is taxed at the rate of Actual retained earnings at the end od the last year titalled $
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