Master Budget:

Additional Info:

Check Figures:

B C E F I L M N 0 P 2 Widgets R US Corp. Master Budget 2020 3 4 5 Sales Budget (Part 1) Data Input 6 7 Q1 Q2 03 Year Unit Sales 01 02 03 Sales Pike $380.00 65,000 60,000 75,000 80,000 Unit Materials Cost $65.00 04 01 2020 sals: $3,250,000.00 70,000 80 ona Direct Labor Rate $21.00 Per Haur production: Otrly Dividend $300,000.00 Variable Overhead $60D /Dir. Labor Hr. Production Budget (Part 2) Q1 Variables & A Fup $8.00 /Unit Sold 92 03 Year 9 Sales in Units 10 Selling price/unit 11 Gross Revenue 12 Cash Collections: 13 Collections of Accounts Receivable 14 75% Current Quarter's Sales 15 25% Previous Quarter's Sales 16 Total Cash Collections 17 18 19 20 21 22 23 Budgeted Unit Sales 24 Add: Desired End.Inv. 25 of finished goods 26 Total units needed 27 Less: Beg. Inv. 28 Budgeted production 29 30 31 32 33 34 35 Budgeted production 36 Raw materials needed/Unit 37 Total needed for production 38 Add: Desired raw materials 39 ending inventory 40 Total Direct Materials needed 41 Less: Beginning inventory 42 Total D.M. Purchased 13.000 Direct Materials Purchases Budget Part 3 Q1 az 03 04 Year 36,000 28,800 $1,500,000.00 Direct Labor Budget (Part 4) Q1 Q2 Q3 Q4 Year 2.50 2.50 2.50 2.50 2.50 Factory Overhead Budget (Part 5) 43 Unit materials cost 44 Total Direct Materials Cost 45 Cash Disbursements for D.M. 46 85% Current Quarter's Purchases 47 15% Previous Quarter's Purchases 48 Total Cash Disbursements for D.M. 49 50 51 52 53 54 55 Budgeted Production 56 Direct Labor hours per unit 57 Total Direct Labor Hours Needed 58 Hourly Wage Rate 59 Budgeted Direct Labor Costs 60 61 62 63 64 65 66 Budgeted Direct Labor Hours: 67 Variable Overhead Rate per 68 Direct Labor Hour 69 Total Variable Mfg. Overhead 70 Fixed Mfg. Overhead: 71 Depreciation 72 Other Fixed Overhead Expenses 73 Total Fixed Overhead 74 Total Mfg. Overhead 75 Less: non-cash exp (depreciation) 76 Cash Disbursements for 77 Factory Overhead 78 79 80 81 82 83 Q1 Q2 Q3 24 Year Selling and Administration Expense Budget (Part 6) Q1 Q2 Q3 Q4 Year X X X Schedule 1 Unit Cost x Cost Element Direct Matcrials Direct Labor M.OH. Quantity 3.Da 2.59 Total 0.00 0.00 1.00 0.00000 84 Budgeed Units sold 85 Variable Seling and Administration 86 Expenses per Unit 87 Total Variables & A Expenses 88 Fixed Selling and Administration Exp. 89 Depreciation 90 Other Fixed S&A Expense 91 Total Fixed Selling and Admin. Exp. 92 Total Selling and Administration Exp. 93 Less:non-cash exp (depreciation 94 Cash Disbursements for 95 Selling and Administration Expenses 96 97 98 Ending Finished Goods Inventory Budget part 7 99 100 Ending Finished Goods Inventory 101 Cost per Unit (Schedule 1) 102 Budgeted Ending Inventory 103 104 105 Cost of Goods Sold Budget (Part 3) 105 107 10B Sales Volume 109 Cost per Unit (Schedule 1) 110 Cost of Goods Sold 111 112 113 114 115 116 117 118 Cash Balance Beginning of Period 119 Cash Flow from Operations: 120 Cash inflows: 121 Collections of Accounts Receivable 122 Total cash available 123 Cash Outflows: 124 Cash Disbursements for Dir. Materials 125 Cash Disbursements for Dir. Labor Year Mte. Cost per unit 50.00000 * Mehead Units Produced Cash Budget (Part 9) Q1 02 03 94 Year $1,250,000.00 B D E G H L M N - *Income taxes for the year are paid in the 4th quarter. $3,000,000.00 $3.000.000.00 Income Statement Year 2019 126 Factory Overhead 127 Selling and Administrative Expenses 128 Income Taxes 129 Net Cash From Operations 130 Investing Activities: 131 Equipment Purchase 132 Cash Balance before Financing Activities 133 Financing Activities: 134 Dividends pald 135 Ending Cash Balance 136 137 138 139 140 141 Gross Sales Revenue(Part 1) 142 Less: 143 Cost of Goods Sold (Part 8) 144 Gross Profit 145 Selling and Admin. Exp. (Part 6) 146 Operating Profit 147 Less: 148 Income Taxes 149 Net Income 150 151 152 153 154 155 Assets 156 Current Assets 157 Cash (Part 9) 158 Accounts Receivable 159 Materials Inventory 160 Finished Goods Inventory (Part 7 161 Total Current Assets 162 Plant and Equipment (Net af Accum Depr.) 163 Total Assets 164 165 Liabilities & S.E. Equity 166 Current Liabilities 167 Accounts Payable Balance Sheet 12/31/19 Uncallected balance of 4th Otr Sales $34,500,000.00 Schedule 2 $14,095,532.03 + 2018 Ending Retained Earnings Add:2019 Net Income Deduct:2019 Dividends 2019 Ending Retained Earnings $27,000,000.00 168 Total Current Liabilities 169 Capital Stock 170 Retained Earnings (Schedule 2) 171 Total Liabilities and Equity ** Unpaid balance of 4th Qtr materials purchases 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%. O Master Budget Additional Info. Check Figures + A B C D 1 2 Cash collections for the year: 3 Budgeted production for the year: 4 Total cash disbursements for D.M.: 5 Total Direct Labor Cost: 6 Total cash disbursements for F.0.H.: 7 Total cash disbursements for S & A: 8 Budgeted Ending Inventory: 9 Cost of Goods Sold: 10 Ending Cash Balance: $102,050,000.00 281,000 $54,472,725.00 $14,752,500.00 $5,615,000.00 $3,240,000.00 $3,794,572.95 $75,891,459.07 $11,545,785.68