after completing the 12-month operating budget, using the Xample Manufacturing Operating Budget Template Download Xample Manufacturing Operating Budget Template, This template is already done and included at the bottom.

• Include the projected net profit (or loss).
• Submit your budget with the following summary.

After completing the budget template, I need a summary and include the following:

• Explain the process for creating an operating budget and its importance.
• Describe how revenues and expenses are grouped for planning and control in the financial statements.

Step 2:

Xample Manufacturing
Operating Budget (2019)
	Quarter 1	Quarter 2	Quarter 3	Quarter 4	TOTAL (add across)
Revenue
Sony Contract	750000	750000	750000	750000	3000000
Boeing Contract	45000	45000	45000	45000	180000
Ratheon Contract	400000	400000	400000	400000	1600000
Other Income	437500	437500	437500	437500	1750000
PROJECTED TOTAL INCOME	1632500	1632500	1632500	1632500
Costs and Expenses
Salaries	407500	407500	407500	407500	1630000
Benefits	61250	61250	61250	61250	245000
Rent	190000	190000	190000	190000	760000
Insurance	11250	11250	11250	11250	45000
Depreciation	195000	195000	195000	195000	780000
Overhead	45000	45000	45000	45000	180000
Supplies	24000	24000	24000	24000	96000
Raw Materials	650000	650000	650000	650000	2600000
PROJECTED TOTAL EXPENSES	1584000	1584000	1584000	1584000
PROJECTED NET PROFIT/(LOSS)	48500	48500	48500	48500