VETTEL - On L Insert Draw Page Layout Formulas Data Review View Tell m PROTECTED

Question

VETTEL - On L Insert Draw Page Layout Formulas Data Review View Tell m PROTECTED VIEW Be careful.-files from the Internet can contain wirusts:UInles ou need to 120 4A 1REQUIREMENTS 3 Prepare, in good form, a Master Budget which includes the following: 41) Sales Budget 5-12) Production Budget 6 3) Direct Materials Purchases Budget 7 4) Direct Labour Cost Budget 8 5) Factory Overhead Cost Budget 6) Selling and Administrative Expenses Budget 107) Budgeted Income Statement 11 8) Schedule of Collections from Sales 12 9) Schedule of Payments for Manufacturing Costs 13 10) Cash Budget 14 15 All budgets should be for the individual three (3) months of the first quarter of 2017 16 Include a guarterly total column on the right side.(except for #Z and #101....-

Explanation / Answer

Selling and administrative Expenses budget Particulars Jan-17 Feb-17 Mar-17 Total a Number of units 7450 7090 8320 22860 b Sales (a*68.99) 513975.5 489139.1 573996.8 1577111.4 Variable Selling Expenses: c Total Freight (a*0.8) 5960 5672 6656 18288 d Sales Commission (1% of b) 5139.755 4891.391 5739.968 15771.114 e Total Variable Selling Expenses 11099.755 10563.391 12395.968 34059.114 Fixed Selling and administrative Expenses f Salaries 8700 8700 8700 26100 g Rent 1800 1800 1800 5400 h Advertising 150 150 150 450 i Insurance 250 250 250 750 j Depreciation 10050 13050 13050 36150 k Total Fixed Selling and Administrative Expenses 20950 23950 23950 68850 l Total Selling and administrative Expenses 32049.755 34513.391 36345.968 102909.114 Budgeted Income Statement Particulars Jan-17 Feb-17 Mar-17 a Sales 513975.5 489139.1 573996.8 b Less: Variable Expenses Direct Material 28777.49 29888.39 33967.02 Direct Labor 157927 158061.75 182071.75 Factory Overheads 189512.4 189674.1 218486.1 Selling and administrative Expense 11099.755 10563.391 12395.968 387316.645 388187.631 446920.838 c Contribution (a-b) 126658.855 100951.469 127075.962 d Less: Fixed Expenses Factory Overheads 67100 67100 67100 Selling and administrative Expense 20950 23950 23950 88050 91050 91050 e Operating Income before interest and taxes (c-d) 38608.855 9901.469 36025.962 f Interest paid (436000*12%/12) 4360 4360 4360 g Interest recceived (20000*6%/12) 100 100 100 h Earnings before Tax (e-f+g) 34348.855 5641.469 31765.962 i Taxes (h*30%) 10304.6565 1692.4407 9529.7886 j Earnings after tax (h-i) 24044.1985 3949.0283 22236.1734

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