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assign 4 10-60,61
Course: MGMT 436, Winter 2011School: Loyola Chicago
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10-60 Prob 1. Sales Budget 2010 Spring Manufacturing Company Sales Budget C12 D57 Total 12000 9000 Sales (in units) 150 220 Selling Price Per Unit Total Sales Revenue 1,800,000 1,980,000 2. Production Budget 21000 3,780,000 2010 Spring Manufacturing Company Sales Budget C12 D57 Budgeted Sales 12,000 9,000 Desired finished goods ending inventory 300 200 Total units needed 12,300 9,200 Beginning finished goods...
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10-60 Prob 1. Sales Budget
2010 Spring Manufacturing Company Sales Budget C12 D57 Total
12000 9000 Sales (in units) 150 220 Selling Price Per Unit Total Sales Revenue 1,800,000 1,980,000 2. Production Budget 21000 3,780,000
2010 Spring Manufacturing Company Sales Budget C12 D57 Budgeted Sales 12,000 9,000 Desired finished goods ending inventory 300 200 Total units needed 12,300 9,200 Beginning finished goods inventory -400 -150 Budgeted Production 11,900 9,050 3. Direct Materials Purchases Budget
2010 Spring Manufacturing Company Direct Materials Purchases Budget (units and dollars) C12 D57 RM 1
Total
Budgeted Production Pounds per Unit RM 1 needed for production Desired Ending Inventory Total RM 1 needed
(Beginning inventory) RM 1 required purchases
11,900 *10 119,000
9,050 *8 72,400
Cost per pound
RM 1 Budgeted purchases
191400 4000 195400 -3000 192400 $2 384,800
C12 RM 2
D57
Total
Budgeted Production Pounds per Unit RM 2 needed for production Desired Ending Inventory Total RM 2 needed
(Beginning inventory) RM 2 required purchases
11,900 *0 0
9,050 *4 36,200
36,200
1000 37200 -1500 35700 $2.5 89,250
Cost per pound
RM 2 Budgeted purchases
C12 RM 3
D57
Total
Budgeted Production Pounds per Unit RM 3 needed for production Desired Ending Inventory Total RM 3 needed
(Beginning inventory) RM 3 required purchases
11,900 *2 23800
9,050 *1 9,050
32,850
1500 34350 -1000 33350 $0.5 16,675
Cost per pound
RM 3 Budgeted purchases
4. Direct Manufacturing Labor Budget Spring Manufacturing Company 2010 Direct labor budget C12 D57 Total
Budgeted production DL hours per unit Total DL hours needed Hourly wage rate Budgeted direct labor cost
11,900
*2
9,050
*3
23,800
27,150
50,950
$25 1,273,750
5. Factory Overhead Budget Spring Manufacturing Company 2010 Factory Overhead Budget VARIABLE FACTORY OH
Indirect materials Miscellaneous supplies and tools Indirect labor Payroll taxes and fringe benefits Maintenance costs Heat, light, and power
Total FIXED FACTORY OH
10,000
5000 40,000 250,000 10,080 11,000 326,080
Supervision Maintenance costs Heat, light, and power
Dep Total
120000 20000 43420 71330 254,750 $580,830
Total Budgeted Factory Overhead
6. Budgeted Cost of Goods Sold & Ending Finished Goods Inventory Budget C12 Cost per unit = (2*10)+(0.5*2)+(25*2)+(6.4*2)+(5*2) = $93.8 D57 Cost per unit = (2*8)+(2.5*4)+(0.5*1)+(25*3)+(6.4*3)+(5*3) = $135.7 2010 Spring Manufacturing Company COGS and Ending Finished Goods Inventory C12 D57 Total
Sales volume Cost per unit
COGS
12,000 $93.80 1,125,600
300 93.8 28,140
9,000 $135.70 1221300
200 135.7 27,140
21,000 2346900
Finished goods ending inventory Cost per unit Budgeted ending inventories
55,280
7. Budgeted selling and administrative expenses 2010 Spring Manufacturing Company Selling and Administrative Expense Budget
Selling Expenses Advertising Sales salaries Travel and entertainment
Dep
60000 200000 60000 5000 60000 250000 4000 6000 645,000
Administrative expenses Offices salaries Executive salaries Supplies
Dep
Total selling and administrative expenses
8. Budgeted Income Statement Spring Manufacturing Company 2010 Budget Income Statement C12
D57
TOTAL
Sales
COGS GP
1,800,000 1,125,600 $674,400
$1,980,000 1,221,300 $758,700
$3,780,000 2,346,900 $1,433,100
645,000 788,100 315,240 472,860
Selling and administrative expenses Pre-tax OP income Income taxes After-tax operating income
Prob 10-61 1. Sales Budget
C12
2010 Spring Manufacturing Company Sales Budget D57 Total
30000 5,160,000
12000 18000 Sales (in units) 160 180 Selling Price Per Unit Total Sales Revenue 1,920,000 3,240,000 2. Production Spring Budget
2010 Manufacturing Company Sales Budget C12 D57 Budgeted Sales 12,000 18,000 Desired finished goods ending inventory 300 200 Total units needed 12,300 18,200 Beginning finished goods inventory -400 -150 Budgeted Production 11,900 18,050 3. Direct Materials Purchases Budget
2010 Spring Manufacturing Company Direct Materials Purchases Budget (units and dollars) C12 D57 RM 1
Total
Budgeted Production Pounds per Unit RM 1 needed for production Desired Ending Inventory Total RM 1 needed
(Beginning inventory) RM 1 required purchases
11,900 *10 119,000
18,050 *8 144,400
Cost per pound
RM 1 Budgeted purchases
263400 4000 267400 -3000 264400 $2 528,800
C12 RM 2
D57
Total
Budgeted Production Pounds per Unit RM 2 needed for production Desired Ending Inventory Total RM 2 needed
(Beginning inventory) RM 2 required purchases
11,900 *0 0
18,050 *4 72,200
72,200
1000 73200 -1500 717200 $2.5 179,250
Cost per pound
RM 2 Budgeted purchases
C12 RM 3
D57
Total
Budgeted Production Pounds per Unit RM 3 needed for production Desired Ending Inventory Total RM 3 needed
(Beginning inventory) RM 3 required purchases
11,900 *2 23800
18,050 *1 18,050
41,850
1500 43350 -1000 42350 $0.5 21,175
Cost per pound
RM 3 Budgeted purchases
4. Direct Manufacturing Labor Budget Spring Manufacturing Company 2010 Direct labor budget C12 D57 Total
Budgeted production DL hours per unit Total DL hours needed Hourly wage rate Budgeted direct labor cost
11,900
*2
18,050
*3
23,800
54,150
77,950
$25 1,948,750
5. Factory Overhead Budget Spring Manufacturing Company 2010 Factory Overhead Budget VARIABLE FACTORY OH = $6.4/DLH * 77950 = $498,880 FIXED FACTORY OH
Supervision Maintenance costs Heat, light, and power
Dep Total Fixed OH Rate= 254750/77950 = $3.268
120000 20000 43420 71330 254,750
Total Budgeted Factory Overhead = 498,880 + 254,750 = $753,630
6. Budgeted Cost of Goods Sold & Ending Finished Goods Inventory Budget C12 Cost per unit = (2*10)+(0.5*2)+(25*2)+(6.4*2)+(3.268*2) = $90.34 D57 Cost per unit = (2*8)+(2.5*4)+(0.5*1)+(25*3)+(6.4*3)+(3.268*3) = $130.5 2010 Spring Manufacturing Company COGS and Ending Finished Goods Inventory C12 D57 Total
Sales volume Cost per unit
COGS
12,000 $90.34 1,084,035
300 90.336 27,101
18,000 $130.50 2349079
200 130.5 26,101
30,000 3433114
Finished goods ending inventory Cost per unit Budgeted ending inventories
53,202
7. Budgeted selling and administrative expenses 2010 Spring Manufacturing Company Selling and Administrative Expense Budget
Selling Expenses Advertising Sales salaries Travel and entertainment
Dep
60000 200000 60000 5000 60000 250000 4000 6000 645,000
Administrative expenses Offices salaries Executive salaries Supplies
Dep
Total selling and administrative expenses
8. Budgeted Income Statement Spring Manufacturing Company 2010 Budget Income Statement C12
D57
TOTAL
Sales
COGS GP
1,920,000 1,084,035 $835,965
$3,240,000 2,349,079 $890,921
$5,160,000 3,433,114 $1,726,886
645,000 1,081,886 432,754 649,132
Selling and administrative expenses Pre-tax OP income Income taxes After-tax operating income
Analysis between 10-60 and 10-61 Compared with the two after-tax OP income, the new one (649,132) is larger than the old one (472,860) by $176,272. In other words, the company increase after-tax OP income by 37%.Therefore, the company need to increase D57 units by double the number. The units sold number does not affected by the price increase for C12, which means C12 have more potential. As a result, I would say the company need to consider more careful and make more thorough observation before execute this strategy.
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