ACC445 P4T2 IP due 2-9-07 - ACC445-0701A-01 Cost Accounting...

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ACC445-0701A-01 Cost Accounting Cara Cole/Estes Phase 4, Task 2 – Individual Project Due: 2/9/07 %Change 2003 2004 2005 Budget 2005 2004 2005 Budget to 04 Revenue Sales 3,525,000 4,540,000 5,050,000 5,220,000 29% 11% 15% 4% 5,807,500 15% Sales Discounts 25,000 40,000 50,000 20,000 60% 25% -50% -75% 57,500 15% Net Sales 3,500,000 4,500,000 5,000,000 5,200,000 29% 11% 16% 4% 5,750,000 15% COGS 2,289,600 2,982,000 3,255,700 3,342,500 30% 9% 12% 3% Gross Margin 1,210,400 1,518,000 1,744,300 1,857,500 25% 15% 22% 7% Expenses Depreciation 150,000 150,000 150,000 150,000 0% 0% 0% 0% Salaries 60,000 65,000 95,000 85,000 8% 46% 31% -15% 45,000 50,000 50,000 50,000 11% 0% 0% 0% Bad Debt Expense 7,000 10,000 21,000 20,000 43% 110% 100% -10% Supplies 2,000 3,000 6,000 5,000 50% 100% 67% -33% Miscellaneous 1,000 2,000 3,000 3,000 100% 50% 50% 0% Total Expenses 265,000 280,000 325,000 313,000 6% 16% 12% -4% Net Income before Taxes 945,400 1,238,000 1,419,300 1,544,500 31% 15% 25% 10% Assets Current Assets Cash 30,000 45,000 55,000 60,000 50% 22% 33% 11% Accts Receivable 4,000 6,000 8,000 9,000 50% 33% 50% 17% Inventory 240,000 320,000 420,000 410,000 33% 31% 28% -3% Total Current Assets 274,000 371,000 483,000 479,000 35% 30% 29% -1% Plant Equipment 1,500,000 1,350,000 1,200,000 1,200,000 -10% -11% -11% 0% Total Assets 1,774,000 1,721,000 1,683,000 1,679,000 -3% -2% -2% 0% Current Liabilities
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ACC445 P4T2 IP due 2-9-07 - ACC445-0701A-01 Cost Accounting...

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