ACCOUNT
Budget Comprehensive Full - ET Pods.xlsx

Beginning cash balance 20000 44411 add cash receipts

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Beginning Cash Balance $ 20,000 $ 44,411 Add: Cash Receipts $ 99,551 $ 64,733 Cash Available $ 119,551 $ 109,144 Cash Payment for: Inventory Purchase $ - $ - Direct Labor $ 25,200 $ 15,750 Manufacturing Overhead $ 12,660 $ 11,535 Selling and Admin Expense $ 16,780 $ 16,070 Equipment Purchase $ 25,000 Income Tax $ 3,500 $ 3,500 Total Budgeted Payment $ 83,140 $ 46,855 Surplus/(Shortage) $ 36,411 $ 62,289 Financing: Borrowing $ 8,000 Repayment Interest Payment 1% PM $ -80 Ending Cash Balance $ 44,411 $ 62,209 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 $ - Raw maaterial Available $ 3,000 Ending Raw Material Inventory (750*$ 4) $ - Raw Material used $ 3,000 Labor $ - Overhead $ 72,390 Total Manufacturing Cost $ 75,390
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Beginning work in process inventory $ - Total Work in process inventory $ 75,390 Ending work in process inventory $ - Cost of Goods manufactured $ 75,390 Beginning Finished goods $ 10,800 Goods Available $ 86,190 Ending Finished Goods (720*31) $ - Cost of Goods Sold $ 86,190 Requirement 2 Income Statement Sales Revenue $ - Less: Cost of Goods Sold $ 86,190 Gross Margin $ -86,190 Selling and Administrative Expenses $ 73,700 Operating Income $ -159,890 Interest Expense $ 160 Income before tax $ -160,050 Less Income Tax $ 14,000 Net Income $ -174,050 Requirement I Balance Sheet Assets: Cash $ 106,518 Accounts Receivable $ - Raw Material Inventory $ - Finished Goods Inventory $ - Total Current Assets $ 106,518 Equipment (168000+25000) $ 193,000 Less: Accumulated Dep (39000+24000+8000) $ -71,000 $ 122,000 Total Assets $ 228,518 Liabilities: Accounts Payable $ - Equity: Common Stock $ 130,000 Retained Earning (46800+Net Income) $ -127,250 $ 2,750 Total Liabilities and Equity $ 2,750 $ 2,750
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ment, will get back to you.
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  • Fall '18
  • Soni
  • Balance Sheet, raw material, Total Budgeted Sale

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