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a) Sales Budget
Unit To Sell ( Units Produced - Finished Goods Inventory )
Selling Price ( Product Cost + Mark Up)
Ex 3 Ex 4 Ex 5
Budgeted sales 23000 2650 76500
+Desired Ending Inventory 18000 900 19500
Total units needed 41000 3550 96000
-Beginning Inventory 15000 850 21000
Units to produce/ purchase 26000 2700 75000
Production budget
Unit to sell 5,000 7,000 9,000 12,000 16,080 21,547 28,873
+Desired Ending Inventory 0 500 700 900 1,200 1,608 2,155
Total units needed 5,000 7,500 9,700 12,900 17,280 23,155 31,028
-Beginning Inventory 0 0 500 700 900 1,200 1,608
Units to produce 5,000 7,500 9,200 12,200 16,380 21,955 29,420
Direct Materials Budget - Wood
Assumption = Desired ending inventory = 5% of the current month unit to produce
Cost of wood / unit = P50
Fixed FOH
Depreciation - Machinery 10,000
Insurance - Factory 5,000
Property Tax - Factory 3,500
Total Fixed FOH 18,500
Total Factory Overhead 24,875
Product Cost
Direct Materials 984,375
Direct Labor 230,156
Factory Overhead 24,875
Total Production Cost 1,239,406
# of Units Produced 7,500 9,200
Product Cost 165.25
Selling Price
Product Cost 165.25
Add : Mark Up 150% 247.90 (P165.25 x 150%)
Selling Price 413.15
Exercise 6
Sales
Payroll Budget June July June July
Basic amount 3600 3600 160,000 180,000
+ Percentage of sales 9600 10800 6%
Total payroll 13200 14400
Exercise 7
August September October November
Sales 300,000 280,000 330,000 260,000
Months 1 2 3
Terms 30% 55% 10%
Exercise 9
October November
Sales 180,000 216000 (20% higher than October)
Collections :
35% - month of sale 63,000 108,000
60 %- next month 75,600
Total Collections 183,600
Payments
40% - month of sale 44,000 64,000
60% - next month 96,000
Total payments 160,000
Prob # 2
KITZ KATZ
Units to sell 20,000 15,000
Selling price 15 12
Total Sales 300,000 180,000
Problem # 3
Budgeted sales 23,000
+Desired Ending Inventory 18,000
Total units needed 41,000
-Beginning Inventory 15,000
Units to produce 26,000
Problem # 4
a)Sales Budget d) Labor Budget
Units to sell 2,650 Units to produce 2,700
Selling price 15 X Manhours Needed 0.5
Total Sales 39,750 Total Labor required 1,350
X Cost of labor 5
b) Production Budget Labor Budget 6,750
Budgeted sales 2,650
+Desired Ending Inventory 900 e) Factory Overhead Budget
Total units needed 3,550 Units to Produce 2,700
-Beginning Inventory 850 Variable Overhead 0.75
Units to produce 2,700 TotaL Variable Overhead 2,025
Add : Fixed Cost 1,750
c) Material Budget Total Factory Overhead 3,775
Cost of Sales :