Widgets R US Corp. Master Budget 2019 Sales Budget (Part 1) Data Input Q1 az Q3 Year Unit Sales Sales Price $380.00 65.000 $380 00 $24,700,000.00 60,000 $380.00 $22.800,000.00 75.000 $380.00 $28,500,000.00 80.000 $380.00 $30,400,000.00 280.000 $1.520.00 $ 106,400,000.00 65,000 60,000 75,000 80,000 Sales in Units Selling price/unit 1 Gross Revenue Cash Collections: 3 Collections of Accounts Receivable + 75% Current Quarter's Sales 5 25% Previous Quarter's Sales 5 Total Cash Collections Unit Materials Cost $65.00 $18,525,000.00 $3,250,000.00 $21.775.000.00 $17,100,000.00 $6,175,000.00 $23.275.000.00 $21,375,000.00 $5,700,000.00 $27,075,000.00 $22,800,000.00 $7,125,000.00 $29,925,000.00 $79,800,000.00 $22,250,000.00 $102.050.000.00 01 2020 sales: production 70,000 80,000 Direct Labor Rate $21.00 Per Hour Ctrly Dividend $300,000.00 Variable Overhead $6.00 /Dir. Labor Hr. Production Budget (Part 2) 91 Variables R A EXO $8.00 /Unit Sold 03 Year 65,000 60,000 75,000 80,000 280,000 3 Budgeted Unit Sales # Add: Desired End.Inv. 5 of finished goods 5 Total units needed Less: Bee Iny 3 Budgeted production 9.000 74,000 13,000 61,000 11,250 71,250 9,000 62,250 12,000 87,000 11.250 75,750 10,500 90,500 12,000 78.500 42,750 322,750 45.250 277,500 G H EF Direct Materials Purchases Budget (Part 3) Q2 Q3 Year 36,000 28,800 Budgeted production Raw materials needed/Unit Total needed for production Add: Desired raw materials ending inventory Total Direct Materials needed Less: Beginning inventory Total D.M. Purchased Unit materials cost Total Direct Materials Cost Cash Disbursements for D.M. 85% Current Quarter's Purchases 15% Previous Quarter's Purchases Total Cash Disbursements for D.M. $1,500,000.00 Direct Labor Budget (Part 4) Q1 Q2 Q3 Q4 Year 250 250 2.50 250 Budgeted Production Direct Labor hours per unit Total Direct Labor Hours Needed Hourly Wage Rate Budgeted Direct Labor Costs Factory Overhead Budget (Part 5) Q2 03 Year Budgeted Direct Labor Hours: Variable Overhead Rate per Direct Labor Hour Total Variable Mfg. Overhead Fixed Mfg. Overhead: Depreciation Other Fixed Overhead Expenses Total Fixed Overhead Total Mfg. Overhead Less: non-cash exp (depreciation) Cash Disbursements for Factory Overhead Selling and Administration Expense Budget (Part 6) Q2 03 Q4 Year Budgeted Units Sold Variable Selling and Administration Expenses per Unit Total Variable S & A Expenses Fixed Selling and Administration Exp. Depreciation Other Fixed S & A Expense Total Fixed Selling and Admin. Exp. Total Selling and Administration Exp. Less: non-cash exp (depreciation) Cash Disbursements for Selling and Administration Expenses The desired ending product inventory is 20% of the next quarter's budgeted sales. 3 pounds of direct materials are needed to produce each unit of product. The desired ending raw materials inventory is 15% of raw materials needed for the next quarter's budgeted production. Factory overhead includes $250,000 per quarter of depreciation and $350,000 per quarter of other fixed overhead. Selling and administration expenses include $50,000 of depreciation per quarter and $250,000 of other fixed overhead per quarter. The tax rate is 35%