Professional Documents
Culture Documents
Acct 2020 Excel Budget Problem Studenttemplate
Acct 2020 Excel Budget Problem Studenttemplate
WASATCH MANUFACTURING
Master Budget
Sales Budget
December January February
Unit sales 5,067 5,340 5,940
Unit selling price $ 15 $ 15 $ 15
Total sales Revenue $ 76,000 $ 80,100 $ 89,100
Req. 1
Req. 2
Production Budget
January February March
Unit sales 5,340 5,940 5,520
Plus: Desired ending inventory 594 552 570
Total needed 5,934 6,492 6,090
Less: Beginning inventory 534 594 552
Units to produce 5,400 5,898 5,538
Req. 3
April May
Unit Sales 5,700
Plus: Desired End Inventory 516
Total Needed 6,216
Less: Beginning Inventory 570
Units to produce 5,646
DM needed per unit 2
Quantity of DM needed for production 11,292
Req. 4
Req. 5
Req. 6
Req. 7
Req. 8
Req. 9
Req. 10
Damon Manufacturing
Budgeted Income Statement
For the Quarter Ended March 31
Sales $ 252,000
Cost of goods sold 93,912
Gross profit 158,088
Operating expenses 24,360
Depreciation expense 4,400
Operating income 129,328
Less: interest expense -25
Less: provision for income tax 38,773
Net income $90,530
TURING
Quarter
$75,600
$ 171,640
$247,240
Quarter
$16,800
570
17,370
534
16,836
Quarter
16,836
2
33,672
2,258
35,930
2,160
33,770
$ 1.50
$50,656
Quarter
$43,000
$16,499
$17,478
$3,336
$80,313
Quarter
$6,566
Quarter
$19,500
$8,700
$23,570
$51,770
Quarter
$ 20,160
$ 4,200
$ 24,360
Quarter
$4,460
247,240
251,700
80,313
6,566
51,770
24,360
10,800
33,200
207,009
44,691
2,000
-2,000
-25
-25
$44,666