Goods manufactured cost of goods available for sale

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Unformatted text preview: overhead costs Cost of goods manufactured = Cost of goods available for sale Less ending finsihed goods inventory Cost of goods Sold XX XX XX XX XX XX (XX) XX Chapter 6 Master Budget & Responsibility Accounting Responsibility Nonmanufacturing costs budget Function of the value chain – including Function research and design, marketing, customer service, etc. service, Chapter 6 Master Budget & Responsibility Accounting Responsibility Budgeted Income Statement (based on Budgeted previous schedules: previous Revenues (Cost of goods sold) Gross Margin Operating Costs Marketing Customer Service Administrative Costs Total operating costs Operating Income XX (XX) XX xx xx xx (XX) XX Chapter 6 Master Budget & Responsibility Accounting Responsibility Responsibility Accounting: Cost centers – costs only (maintenance Cost department) department) Revenue centers – revenues only (sales Revenue department) department) Profit centers – revenues and costs (hotel Profit manager) manager) Investment centers – investments, revenues, Investment and costs (regional director) and Chapter 6 Master Budget & Responsibility Accounting Responsibility Cash Budgets – expected cash receipts Cash and disbursements for a given period and **NOTE** depreciation is a noncash **NOTE** transaction transaction Chapter 6 Master Budget & Responsibility Accounting Responsibility Cash sales Credit sales Total sales November $80,000 240,000 320,000 December $100,000 36...
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