Data for Budget Assignment: Master Budget Case for ToyWorks Ltd.

Version v(A.0)
fisa! year end "#$De
%or t&e year ended Deem'er
estimated sa!es:

00+ (in units) ,+-000

00* (in units) -00000
00 (in units) -00000

/rie /er unit  #0.00

ost /er unit /revious year  +."0 A's
A'sor
or/
/tion Costing
ost /er unit /revious year  1.0
1.0-0 Va
Varia'!e
'!e Costing

2a!es /attern
3an #4
%e' -4
Mar #4
 A/r #04
May #4
3un #4
3u! 4
 Aug 4
2e/ 4
5t #-4
6ov 04
De ,04
#004

desired ending inventory (finis&ed goods) -4 of ne7t mont&8s sa!es

renta! ost$$Admn 9 2e!!ing ost

2e/  0
0000
5t  0
0000
6ov  0
0000
De  0
0000

a; materia!: 22A

re<uired for ea& unit of /rodut - kg
ost /er ki!ogram  0.,-

desired ending inventory (ra; materia!s) ,04 ne7t mont&8s /rodution needs
 Aounts /aya'!e /ayment /attern: 04 in t&e mont& of /ur&ase
,-4 in t&e mont&
mont& fo!!o;in
fo!!o;ingg t&e /ur&ase
/ur&ase
"-4 in t&e nd mont&
mont& fo!!o;i
fo!!o;ing
ng t&e /ur&ase
/ur&ase

Beginning Aounts =aya'!e:

6ovem'er 2a!es +0000
Deem'er sa!es #-0000
 6ov De 3an %e'
2a!es in units +0000 #-0000 -000 -000
Desired ending inventory "+-00 #-0 1-0
Tota! re<uired #0+-00 #-#-0 ##-0
Less: 'eginning inventory #+-00 "+-00 #-0
=rodution re<uired 0000 ##"+-0 #0000

2AA /er unit - - -

Tota! ra; materia! needed ,-0000 -1*+-0 -0000
desired ending inventory +-00 0000
tota! re<uired 1++-00 -**+-0
Less: 'eginning inventory #*0000 +-00
M to 'e /ur&ased ,+-00 "1#-0
ost /er unit  0.,-  0.,-
Cost of /ur&ases  "*+-  #1-1"

6ov /aid  ,,++-

De /aid  #00+,,  "-#"
3an /aya'!e  +*"-1  +"#-"
%e' /aya'!e  -1*+
 0*,01

Time in /rodution #* minutes or 0."0 &our  

rate of /ay  .00 /er &our

/er unit varia'!e manufaturing:

>ti!ities  0.10
?ndiret materia!s  0.0
=!ant maintenane  0."0
@nvironmenta! fee  0.#,
5t&er  0.01
 #."0

fi7ed manufaturing: ?nsurane Ta7

training 9 deve!  ,"00 =re/aid ('eg) 1,000 #00
/ro/erty'us ta7  "000 =ur&ased 1000 "100
su/ervisor8s sa!ary  #,,00 >sed 1000 "000
amortiation  #+**00 @nding Ba! 1,000 #*00
insurane  1000
ot&er  ##+100
 1,000
Less: one time /ay  1000 insurane  *000 /er mont&
 "000 =ro/erty ta7  "00 /er mont& from 3an to 3un
 ""00 /er mont& from 3u! to De
 #+**00  #,00 /er mont&
as& dis'ursements  ",00 or  #00 /er mont&

2e!!ing and Admin

 Lo;est !eve! of sa!es "+-000 tota! o/erating e7/enses  ++*+#0
ig&est !eve! of sa!es +-0000 tota! o/erating e7/enses  #0,10

=er unit  0.1-

fi7ed  -",10 or  ,,-*0 /er mont&

2a!es o!!etion /attern

urrent mont& --.04
fo!!o;ing mont& "-.04
 mont&s after .-4
uno!!eti'!e 0.-4

6ov De
Tota! sa!es  +00000  #-00000
6ov o!!eted  "*-000
De o!!eted  ,-000  *-000
3an reeiva'!e  11-00  --000
%e' reeiva'!e  #,-00
tota! reeiva'!e  +",000

Mont&!y ta7 insta!!ments  -000

outstanding from /revious year  #-00 to 'e /aid in A/ri!
?nome ta7 rate -4

%i7ed asset /ur&ase  0,"00

6ov /ayment ,04  *#+0
De /ayment 104  #-*0

=ayment of dividends:
Mar  -0000
3un  -0000
2e/  -0000
De  -0000
 00000

Minimum 'ank 'a!ane  0000

rate of interest 14 or 0.-04 /er mont&
'orro;ing '!oks  #000

5/ening 'a!ane s&eet

Cas&  *""1-
 Aounts reeiva'!e +",000
?nventory$ra; materia!s 000
?nventory$finis&ed goods #-
=re/aid insurane 1,000
=re/aid ta7 #00
Ca/ita! assets (net) +,000
tota!  #1,10

 Aounts /aya'!e  0*,01

?nome ta7 /aya'!e  #-00
Ca/ita! stok  #000000
etained earnings  ,#+*,
 #1,10
"# 00*
 ToyWorks Ltd.
Sales Budget
For the year ended December 31, 200

!an Feb "ar #$r "ay !un !ul #ug Se$ %ct &o' Dec (ear  
=erent of Annua! 2a!es 1) *) 1) 10) 1) 1) 2) 2) 2) 1*) 20) +0) 100)
@7/eted sa!es in units -000 -000 -000 -0000 -000 -000 #0000 #0000 #0000 +-000 #00000 00000 -00000
2e!!ing /rie /er unit  #0.00  #0.00  #0.00  #0.00  #0.00  #0.00  #0.00  #0.00  #0.00  #0.00  #0.00  #0.00  #0.00
Tota! Budgeted 2a!es  -0000  -0000  -0000  -00000  -0000  -0000  #00000  #00000  #00000  +-0000  #000000  000000  -000000

ToyWorks Ltd.
Schedule o -$ected /ash /ollectons
For the year ended December 31, 200

!an Feb "ar #$r "ay !un !ul #ug Se$ %ct &o' Dec (ear  
Current mont& sa!es --4  +-00  #"+-00  +-00  +-000  +-00  +-00  --000  --000  --000  ,#-00  --0000  ##00000 +-0000
=rior mont&8s sa!es "-4 --000 #+-00 *+-00 #+-00 #+-000 #+-00 #+-00 "-000 "-000 "-000 1-00 "-0000 #-+-000
T;o mont&s /rior sa!es .-4 11-00 #,-00 ,+-0 "+-0 ,+-0 ,+-00 ,+-0 ,+-0 -00 -00 -00 +#-0 "000
Tota! as& o!!etions  1#000  +-00  ##+-0  "#1-0  0+-0  -00  ++-0  ,+-0  -00  ,-+000  *000  #-#-0  ,+,000

6ov -000
De +00000 #0000
*-000

ToyWorks Ltd.
Schedule o -$ected /ash /ollectons
For the year ended December 31, 200

!an Feb "ar #$r "ay !un !ul #ug Se$ %ct &o' Dec (ear  
 A from 6ovem'er 11-00 11-00
 A from Deem'er --000 #,-00 11+-00
3an +-00 #+-00 ,+-0 ,+-0
%e' #"+-00 *+-00 "+-0 ,*+-0
Mar +-00 #+-00 ,+-0 ,+-0
 A/r +-000 #+-000 ,+-00 ,+-00
May +-00 #+-00 ,+-0 ,+-0
3une +-00 #+-00 ,+-0 ,+-0
3u!y --000 "-000 -00 -00
 August --000 "-000 -00 -00
2e/t --000 "-000 -00 -00
5t ,#-00 1-00 +#-0 +,1-0
6ov --0000 "-0000 00000
De $ $  $ $ $ $  $ $ $ ##00000 ##00000
1#000 +-00 ##+-0 "#1-0 0+-0 -00 ++-0 ,+-0 -00 ,-+000 *000 #-#-0 ,+,000
 ToyWorks Ltd.
roducton Budget
For the year ended December 31, 200

!an Feb "ar #$r "ay !un !ul #ug Se$ %ct &o' Dec (ear  
Budgeted sa!es in units -000 -000 -000 -0000 -000 -000 #0000 #0000 #0000 +-000 #00000 00000 -00000
 Add desired ending inventory of
finis&ed goods 1-0 #-0 #-00 #-0 #-0 -00 -00 -00 #*+-0 -000 -0000 #-0 #-0
Tota! needs ##-0 1-0 #+-00 -#-0 1-0 +-00 #-00 #-00 *+-0 #00000 #-0000 0#-0 -0#-0
Less 'eginning inventory of finis&ed
goods #-0 1-0 #-0 #-00 #-0 #-0 -00 -00 -00 #*+-0 -000 -0000 #-0
e<uired /rodution #0000 0000 #1-0 "*+-0 -000 1-0 #0000 #0000 1-0 *#-0 #-000 #-#-0 -00000

ToyWorks Ltd.
"anuacturng %'erhead Budget
For the year ended December 31, 200

!an Feb "ar #$r "ay !un !ul #ug Se$ %ct &o' Dec (ear  
=rodution in >nits #0000 0000 #1-0 "*+-0 -000 1-0 #0000 #0000 1-0 *#-0 #-000 #-#-0 -00000
Varia'!e over&ead rate /er unit  #."0  #."0  #."0  #."0  #."0  #."0  #."0  #."0  #."0  #."0  #."0  #."0  #."0
Varia'!e manufaturing over&ead  #"000  1000  ##-  -0"+-  1-00  *#-  #"000  #"000  ",#-  #0-1-  #1-00  #11-  1-0000
%i7ed manufaturing over&ead:
Training and deve!o/ment "100 "100 "100 "100 "100 "100 "100 "100 "100 "100 "100 "100 ,"00
=ro/erty and 'usiness ta7es "00 "00 "00 "00 "00 "00 ""00 ""00 ""00 ""00 ""00 ""00 "000
2u/ervisor 2a!aries #,-0 #,-0 #,-0 #,-0 #,-0 #,-0 #,-0 #,-0 #,-0 #,-0 #,-0 #,-0 #,,00
 Amortiation on e<ui/ment #,00 #,00 #,00 #,00 #,00 #,00 #,00 #,00 #,00 #,00 #,00 #,00 #+**00
?nsurane *000 *000 *000 *000 *000 *000 *000 *000 *000 *000 *000 *000 1000
5t&er *00 *00 *00 *00 *00 *00 *00 *00 *00 *00 *00 *00 ##+100
Tota! fi7ed manufaturing 5 -#-0 -#-0 -#-0 -#-0 -#-0 -#-0 -0-0 -0-0 -0-0 -0-0 -0-0 -0-0 1,000
Tota! manufaturing 5 1,-0 ++-0 +"0+- #0"- -*,-0 100+- 1-0-0 1-0-0 *1#+- #-+1+- #,--0 ,*1+- #+,000
Less /re/aid /ro/erty ta7 "00 "00 "00 "00 "00 "00 ""00 ""00 ""00 ""00 ""00 ""00 "000
Less /re/aid insurane *000 *000 *000 *000 *000 *000 *000 *000 *000 *000 *000 *000 1000
Less amortiation #,00 #,00 #,00 #,00 #,00 #,00 #,00 #,00 #,00 #,00 #,00 #,00 #+**00
Cas& dis'ursements for
manufaturing 5  "**-0  -#*-0  ,1+-  +1-  ""-0  ""+-  "**-0  "**-0  -+-  #"#,+-  #**"-0  ,+-  1000
 ToyWorks Ltd.
Drect "aterals Budget  S## klograms4
For the year ended December 31, 200

!an Feb "ar #$r "ay !un !ul #ug Se$ %ct &o' Dec (ear  
>nits to 'e /rodued #0000 0000 #1-0 "*+-0 -000 1-0 #0000 #0000 1-0 *#-0 #-000 #-#-0 -00000
a; Materia!s needed /er unit - - - - - - - - - - - - -
=rodution needs -0000 #00000 *#-0 #"+-0 -000 "#-0 -0000 -0000 #"#-0 ,01-0 1-000 +-1-0 -00000
 Add desired ending inventory ,0000 "-00 ++-00 #0000 #-00 0000 0000 --00 #1-00 -0000 "0-00 0000 0000
Tota! needs 0000 #"-00 #-*+-0 0"+-0 "+-00 -#-0 +0000 #0-00 "+-0 1-1-0 +-00 ++1-0 -0000
Less 'eginning inventory 0000 ,0000 "-00 ++-00 #0000 #-00 0000 0000 --00 #1-00 -0000 "0-00 0000
a; materia!s to 'e /ur&ased +0000 -00 #1-0 #1-0 +-00 "*+-0 -0000 *-00 ,#-0 ,"+-0 1++-00 ,+"+-0 -00000

Cost of 2AA /er ki!ogram  0.,-  0.,-  0.,-  0.,-  0.,-  0.,-  0.,-  0.,-  0.,-  0.,-  0.,-  0.,-  0.,-
Tota! ost of /ur&ases of 2AA  "#-00  ,#1-  -1*#"  -1*#"  #"+-  #+,"*  -00  "+#-  #0*-1"  #**  "0,*+-  #"#**  ##-000

ToyWorks Ltd.
Schedule o -$ected /ash Dsbursement or urchases o 5a6 "ateral S##
For the year ended December 31, 200

!an Feb "ar #$r "ay !un !ul #ug Se$ %ct &o' Dec (ear  
Current mont&8s /ur&ases 04  1"00  *"-  ##"1"  ##"1"  ,+-  ",**  ,-00  +,-  #+#"  ,,,"*  10+-  ,1"*  -000
=rior mont&8s /ur&ases ,-4 +*"-1 #,#+- #*+"# --11 --11 --1 +*,+ #0#- #1+01 ,**-" *, #"+#, ,**1+

T;o mont&8s /rior /ur&ases "-4

+"#-" -1*+ ##0- #,-1 #**, #**, ,""# 1#0" +*+- #, "++ +++11 ",,+*
Tota! as& di s'ursements for
/ur&ases of ra; materia!  #-+*0  +"+  ,###  -#,+  ,+-  *,#  #11+*  "1-"  ,1,  #01*,  #*-1  -+-+  #0-1#-0

ToyWorks Ltd.
Schedule o -$ected /ash Dsbursement or urchases o 5a6 "ateral S##
For the year ended December 31, 200

!an Feb "ar #$r "ay !un !ul #ug Se$ %ct &o' Dec (ear  
 A= from 6ovem'er +*"-1 +*"-1
 A= from Deem'er +"#-" -1*+ #"00-0
3an 1"00 #,#+- ##0- "#-00
%e' *"- #*+"# #,-1 ,#1-
Mar ##"1" --11 #**, -1*#"
 A/r ##"1" --11 #**, -1*#"
May ,+- --1 ,""# #"+-
3un ",** +*,+ 1#0" #+,"*
3u! ,-00 #0#- +*+- -00
 Aug +,- #1+01 #, "+#-
2e/ #+#" ,**-" "++ #0*-1"
5t ,,,"* *, +++11 #**
6ov 10+- #"+#, #*#1
De $ $ $ $ $ $ $  $ $ $ ,1"* ,1"*
#-+*0 +"+ ,### -#,+ ,+- *,# #11+* "1-" ,1, #01*, #*-1 -+-+ #0-1#-0
#01+01 -",
0*,01 +,1#1
++-1
 ToyWorks Ltd.
Drect Labour Budget
For the year ended December 31, 200

!an Feb "ar #$r "ay !un !ul #ug Se$ %ct &o' Dec (ear  
>nits to 'e =rodued #0000 0000 #1-0 "*+-0 -000 1-0 #0000 #0000 1-0 *#-0 #-000 #-#-0 -00000

Diret La'our time /er unit (&ours)

0."0 0."0 0."0 0."0 0."0 0."0 0."0 0."0 0."0 0."0 0."0 0."0 0."0
Tota! &ours of diret !a'our time
needed "000 1000 ,*+- ##1- #-00 #*+- "000 "000 +*+- ,"+- "+-00 ,-"+- #-0000
Diret La'our ost /er &our   .00  .00  .00  .00  .00  .00  .00  .00  .00  .00  .00  .00  .00
Tota! diret !a'our ost  +000  -,000  ,"*+-  #0,1-  #"-00  #1*+-  +000  +000  +0*+-  #"+-  ""+-00  ,0*"+-  #"-0000
 ToyWorks Ltd.
Sellng and #dmnstrat'e -$ense Budget
For the year ended December 31, 200

!an Feb "ar #$r "ay !un !ul #ug Se$ %ct &o' Dec (ear  
Budgeted sa!es in units -000 -000 -000 -0000 -000 -000 #0000 #0000 #0000 +-000 #00000 00000 -00000
Varia'!e se!!ing and administrative
e7/ense /er unit  0.1-  0.1-  0.1-  0.1-  0.1-  0.1-  0.1-  0.1-  0.1-  0.1-  0.1-  0.1-  0.1-
Varia'!e e7/enses  "-0  #1-0  "-0  "-00  "-0  "-0  1-00  1-00  1-00  ,*+-0  1-000  #"0000  "-000
%i7ed se!!ing and administrative
e7/enses ,,-*0 ,,-*0 ,,-*0 ,,-*0 ,,-*0 ,,-*0 ,,-*0 ,,-*0 ,,-*0 ,,-*0 ,,-*0 ,,-*0 -",10
Bad De'ts -0 #-0 -0 -00 -0 -0 -00 -00 -00 "+-0 -000 #0000 -000
Ware&ouse renta! $ $ $ $ $ $ $ $ 0000 0000 0000 0000 *0000
Tota! 'udgeted se!!ing and
administrative e7/enses  ,*0*0  10*0  ,*0*0  +-*0  ,*0*0  ,*0*0  -#-*0  -#-*0  +#-*0  ##+0*0  #",-*0  0,-*0  1,10
Less: non$as& items
Bad de't e7/ense  -0  #-0  -0  -00  -0  -0  -00  -00  -00  "+-0  -000  #0000 -000
 ,+*"0  10*"0  ,+*"0  ++0*0  ,+*"0  ,+*"0  -#0*0  -#0*0  +#0*0  ##"""0  #-*0  #,-*0  "10

Varia'!e rate /er unit: Total /osts 7nts

ig&  #0,10 +-0000
Lo;  ++*+#0 "+-000
C&ange  ,"+-0 "+-000

Varia'!e rate /er unit  0.1-00

%i7ed e7/enses /er year  -",10
 ToyWorks Ltd.
-ndng Fnshed 8oods 9n'entory Budget #bsor$ton /ostng4
For the year ended December 31, 200

9tem :uantty /ost;unt Total

=rodution ost /er unit:
Diret materia!s: -.00 kg. 0.,- .-
Diret La'our 0."0 &r .00 .+0
Manufaturing over&ead #.00 unit .-- .--
>nit /rodut ost +.-0

Budgeted finis&ed goods inventory:

@nding finis&ed goods inventory in units #-0
>nit /rodut osts (see a'ove)  +.-0
@nding finis&ed goods inventory in do!!ars  "+"

Budgeted ost of goods so!d:

Beginning finis&ed goods inventory #-
=!us ost of goods manufatured "+,000
Less: ending inventory "+"
Budgeted ost of goods so!d in do!!ars: "+,*+-"

ToyWorks Ltd.
-ndng Fnshed 8oods 9n'entory Budget <arable /ostng4
For the year ended December 31, 200

9tem :uantty /ost;unt Total

=rodution ost /er unit:
Diret materia!s: -.00 kg. 0.,- .-
Diret La'our 0."0 &r .00 .+0
Manufaturing over&ead #.00 unit #."0 #."0
>nit /rodut ost 1.-

Budgeted finis&ed goods inventory:

@nding finis&ed goods inventory in units #-0
>nit /rodut osts (see a'ove)  1.-
@nding finis&ed goods inventory in do!!ars  +*#"

Budgeted ost of goods so!d:

Beginning finis&ed goods inventory +-1-
=!us ost of goods manufatured "#-000
Less: ending inventory +*#"
Budgeted ost of goods so!d in do!!ars: "#,+-"
 ToyWorks Ltd.
/ash Budget
For the year ended December 31, 200

!an Feb "ar #$r "ay !un !ul #ug Se$ %ct &o' Dec (ear  
Cas& 'a!ane 'eginning  *""1-  ,-*+1  ,+  "-+-0  ""+-+"  "*#*  1*,*  0+#"  #-1"01  0+-*  0*1*  0+"  *""1-
 Add reei/ts:
Co!!etions from ustomers 1#000 +-00 ##+-0 "#1-0 0+-0 -00 ++-0 ,+-0 -00 ,-+000 *000 #-#-0 ,+,000
Tota! as& avai!a'!e 'efore finaning +0"1- +""+1 -0, 1+"-00 -,,*" ,0+#* ",-+,* "0#** --*01 ,+++-* *,*1* #-,#* ,*0+"1-
Less dis'ursements:
Diret materia!s #-+*0 +"+ ,### -#,+ ,+- *,# #11+* "1-" ,1, # 01*, #*-1  -+-+ #0-1#-0
Diret !a'our +000 -,000 ,"*+- #0,1- #"-00 #1*+- +000 +000 +0*+- #"+- ""+-00 ,0*"+- #"-0000
Manufaturing over&ead "**-0 -#*-0 ,1+- +1- ""-0 ""+- "**-0 "**-0 -+- #"#,+- #**"-0 ,+- 1000
2e!!ing and administrative e7/enses ,+*"0 10*"0 ,+*"0 ++0*0 ,+*"0 ,+*"0 -#0*0 -#0*0 +#0*0 ##"""0 #-*0 #,-*0 "10
Ta7 remittane -000 -000 -000 -000 -000 -000 -000 -000 -000 -000 -000 -000 10000
Ta7 /aya'!e $ $ $ #-00 $ $  $ $ $ $  #-00
=re/aid insurane $ $ $  $ $  $ 1000 $ $  1000
=re/aid /ro/erty and 'usiness ta7 "100 "100
Ca/ita! asset /ur&ases $ $ $  $ $  $ $ $ *#+0 #-*0 0,"00
Dividend /ayment $ $ -0000 $ $ -0000 $ $ -0000 $ $ -0000 00000
Tota! dis'ursements +1,* -#0++ ",+ ""-+ #,110- # #"*10* #,--*" ", -+-,1, ,##01 #1010+ ,++#0
@7ess (defiieny) of as& avai!a'!e over
dis'ursements ,-*+1 ,+ "-+-0 ""+-+" "*#* 1*,* 0+#" #-1"01 $ #,",#* $ ++0+ $ *"* *#"+- $ #0",-

%inaning:
Borro;ing (at t&e 'eginning of t&e mont&) #1-000 #0000 ##000 ,01000
e/ayment (at t&e end of t&e mont&) -000 -000
?nterest e7/ense (/aid mont&!y) $ $ $ $ $ $ $ $ *- #,-  0"0 0"0 1"#0
Tota! finaning $ $ $ $ $ $ $ $ #1,#+- ##*-+- ##*+0 $ 1#0"0 #,010
Cas& 'a!ane ending  ,-*+1  ,+  "-+-0  ""+-+"  "*#*  1*,*  0+#"  #-1"01  0+-*  0*1*  0+"  0",-  0",-

unning tota! $ $ $ $ $ $ $ $ #1-000 *-000 ,01000 #,+000

  ToyWorks Ltd.
Budgeted 9ncome Statement
For the year ended December 31, 200

2a!es  -000000
Cost of goods so!d "+,*+-"
Eross Margin #-#,*
Less:
2e!!ing 9 administrative e7/enses 1,10
6et o/erating inome *1**
Less: ?nterest e7/ense 1"#0
6et inome 'efore ta7es ++*
?nome ta7es 1,
6et ?nome  0*"

ToyWorks Ltd.
Budgeted Statement o 5etaned -arnngs
For the year ended December 31, 200

etained earnings 'eginning of year  ,#+*,

=!us: 6et ?nome 0*"
2u'$tota! 1+1+
Less: Dividends de!ared 00000
etained earnings end of year  ,+1+

ToyWorks Ltd.
Budgeted Balance Sheet
December 31, 200

#ssets
Cas&  0",-
 Aounts eeiva'!e *-000
?nventory: a; Materia!s 000
?nventory: %inis&ed goods "+"
=re/aid ?nsurane 1,000
=re/aid =ro/erty and Business Ta7 #*00
Ca/ita! assets (net) +,-00
Tota! Assets  #*-+0#*
Labltes and Shareholders= ->uty
Lia'i!ities
Bank Loan =aya'!e  #,+000
 Aounts /aya'!e ++-1
?nome ta7es /aya'!e ,
Tota! Lia'i!ities ,",-#
2&are&o!ders8 @<uity
Ca/ita! stok #000000
etained earnings ,+1+
Tota! 2&are&o!ders8 e<uity #,+1+
Tota! Lia'i!ities 9 2&are&o!ders8 @<uity  #*-+0#*  $
  ToyWorks Ltd.
Budgeted 9ncome Statement
For the year ended December 31, 200

2a!es  -000000
Less: Varia'!e osts
Varia'!e ost of goods so!d "#,+-"
Varia'!e se!!ing 9 admin e7/enses "-000 ",,+-"
Contri'ution Margin #--0,*
Less: %i7ed osts
Manufaturing over&ead 1,000
2e!!ing 9 administrative e7/enses 1"10 #1"10
6et o/erating inome *1**
Less: ?nterest e7/ense 1"#0
6et inome 'efore ta7es ++*
?nome ta7es 1,
6et ?nome  0*"