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Hannah Mckay Excel Budget Problem Template
Hannah Mckay Excel Budget Problem Template
WASATCH MANUFACTURING
Master Budget
Sales Budget
December January February March April May
Unit sales 8,444 8,900 9,900 9,200 9,500 8,600
Unit selling price $ 9 $ 9 $ 9 $ 9 $ 9 $ 9
Total sales Revenue $ 76,000 $ 80,100 $ 89,100 $ 82,800 $ 85,500 $ 77,400
Req. 1
Req. 2
Production Budget
January February March Quarter
Unit sales 8,900 9,900 9,200 $28,000
Plus: Desired ending inventory 1,485 1,380 1,425 1,425
Total needed 10,385 11,280 10,625 29,425
Less: Beginning inventory 1,335 1,485 1,380 1,335
Units to produce 9,050 9,795 9,245 28,090
Req. 3
April May
Unit Sales 9,500 8,600
Plus: Desired End Inventory 1,290
Total Needed 10,790
Less: Beginning Inventory 1,425
Units to produce 9,365
DM needed per unit 2
Quantity of DM needed for production 18,730
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 150,920
Gross profit 101,080
Operating expenses 37,800
Depreciation expense 5,200
Operating income 58,080
Less: interest expense -240
Less: provision for income tax 16,195
Net income $41,645