Income tax 3500 3500 total budgeted payment 3166110

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Income Tax $ 3,500 $ 3,500 Total Budgeted Payment $ 3,166,110 $ 5,591,110 Surplus/(Shortage) $ -2,237,110 $ -5,998,470 Financing: Borrowing $ 8,000 Repayment Interest Payment 1% PM $ -80 Ending Cash Balance $ -2,229,110 $ -5,998,550 Requirement H Cost of Goods Sold Budget Per Unit Manufacturing Cost: Input Unit Rate Total Cost per unit Direct Material 2.5 $ 4.00 $ 10.00 Direct Labor 0.3 $ 20.00 $ 6.00 Overhead 0.3 $ 50.00 $ 15.00 Total Cost $ 31.00 Cost fo Goods manufactured and sold Beginning Raw Material Inventory $ 3,000 Purchases #REF! Raw maaterial Available #REF! Ending Raw Material Inventory (750*$ 4) #REF! Raw Material used #REF! Labor #REF!
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Overhead $ 1,508,580 Total Manufacturing Cost #REF! Beginning work in process inventory $ - Total Work in process inventory #REF! Ending work in process inventory $ - Cost of Goods manufactured #REF! Beginning Finished goods $ 10,800 Goods Available #REF! Ending Finished Goods (720*31) #REF! Cost of Goods Sold #REF! Requirement 2 Income Statement Sales Revenue $ 4,800,000 Less: Cost of Goods Sold #REF! Gross Margin #REF! Selling and Administrative Expenses $ 146,250 Operating Income #REF! Interest Expense $ 160 Income before tax #REF! Less Income Tax $ 10,500 Net Income #REF! Requirement I Balance Sheet Assets: Cash #REF! Accounts Receivable $ 288,750 Raw Material Inventory #REF! Finished Goods Inventory #REF! Total Current Assets #REF! Equipment (168000+25000) $ 193,000 Less: Accumulated Dep (39000+24000+8000) $ -63,000 $ 130,000 Total Assets #REF! Liabilities: Accounts Payable #REF! Equity: Common Stock $ 130,000 Retained Earning (46800+Net Income) #REF! #REF! Total Liabilities and Equity #REF! #REF!
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ment, will get back to you. Gavin Gavin Comprehensive Budget Full Budget Sep Quarter Oct 150,000 480,000 180,000 $ 10 $ 10 $ 1,500,000 $ 4,800,000 $ 600,000 $ 1,920,000 $ 825,000 $ 2,640,000 Sep Quarter Receivables $ - $ 600,000 $ 1,920,000 $ 660,000 $ 404,250 $ 1,155,000 $ 536,250 $ 536,250 $ 288,750 $ 1,540,500 $ 4,271,250 $ 288,750 Sep Quarter Oct 150,000 480,000 $ 180,000 36,000
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