Bantoc, Mary Joy M.

AE 24 10/31/2020
BSA 3A Mrs. Marieta Ilagan

Requirement # 1 (Sales Budget) Swiggy Manufacturing Corporation

For the Quarter ending June 30, 2021

April
Sales (Units) 20,500
Selling Price 23.85
Sales (in Peso) Php 488,925

Requirement # 2 (Production Budget)

Swiggy Manufacturing Corporation

Production Budget
For the Quarter ending June 30, 2021

In units April
Projected Sales 20,500
ADD: FG inventory - end. 15,600
Total Goods Available for Sale 36,100
LESS: FG inventory - beg. (16,400)
Budgeted Production 19,700

Requirement # 3 (Raw Materials Budget)

Swiggy Manufacturing Corporation

Raw Materials Budget
For the Quarter ending June 30, 2021

April
Budgeted Production in Units 19,700
RM required per unit 0.50
RM required per production 9,850
ADD: Budgeted Ending RMI 4,975
LESS: Budgeted Beginning RMI (4,925)
Budgeted RM Purchases 9,900
Cost per piece Php 20.00
Budgeted RM Purchases in Peso Php 198,000

Requirement # 4 (Direct Labor Budget)

 Swiggy Manufacturing Corporation
Direct Labor Budget
For the Quarter ending June 30, 2021

April
Units to be Produced 19,700
Direct Labor Hours required 0.50
Total DL hours needed 9,850
DL cost per hour Php 15
Budgeted cost of DL Php 147,750

Requirement # 5 (Factory Overhead Budget)

Swiggy Manufacturing Corporation

Factory Overhead Budget
For the Quarter ending June 30, 2021

April
Budgeted DL hours 9,850
Variable FOH rate Php 2.70
Variable FOH Php 26,595
Fixed FOH (Depreciation) Php 20,000
Total Budgeted FOH Php 46,595

Requirement # 6 (Selling Expense Budget)

Swiggy Manufacturing Corporation

Selling Expense Budget
For the Quarter ending June 30, 2021

April
Budgeted Sales Php 488,925
Variable Selling expense:
Sales commission 8%
Variable Selling expense Php 39,114
Fixed Selling Expense:
Sales Manager Monthly Salary Php 3,000
Budgeted Selling Expense Php 42,114

Requirement # 7 (General and Administrative Expense Budget)

Swiggy Manufacturing Corporation

 General and Administrative Expense Budget
For the Quarter ending June 30, 2021

April
Variable Gen. & Adm. expense:
- -
Variable Gen. & Adm. expense Php -
Fixed Gen. & Adm. Expense:
Administrative Monthly Salary Php 12,000
Interest Expense (500,000*0.9%) Php 4,500
Budgeted Gen. & Adm. Expense Php 16,500

Requirement # 8 (Budgeted Cash Flow Statement)

SWIGGY MANUFACTURING CORP.

Budgeted Cash Flow Statement
For the Quarter Ending June 30, 2021

April May
Budgeted Cash Balance, Be 40,000.00 83,346.50
Add: Expected Cash Receipts
Cash Sales 146,677.50 139,522.50
Sales on Accounts 342,248.00 342,247.50
Budgeted Cash Available fo 528,925.50 565,116.50
Less: Expected Cash Disbursements
Payment for purcha 200,500.00 198,000.00
DL cost 147,750.00 149,250.00
FOH (exclude deprec 26,595.00 26,865.00
Selling Expenses 42,114.00 40,206.00
Gen. & Admin. Expe 16,500.00 16,500.00
Dividends 10,000.00
Total cash disbursement 433,459.00 440,821.00
Excess (Deficiency) 95,466.50 124,295.50
Financing of Short-term Note:
Borrowing
Repayment - 12,000.00
Interest - 120.00
Miinimum End. Cash Balan 40,000.00 40,000.00
Cash Balance End 83,346.50 124,295.50

SWIGGY MANUFACTURING CORP.

Schedule of Cash Collection
For the Quarter Ending June 30, 2021
 April May
Collection from Customers
Account Receivabl 342,248.00 -
April Sales 70% - 342,247.50
May Sales 70% - -
Total Cash Collection 342,248.00 342,247.50

SWIGGY MANUFACTURING CORP.

Schedule of Cash Disbursement
For the Quarter Ending June 30, 2021

April May
Payment for RM Purchases
Beginning AP Balanc 200,500.00 -
April RM Purchases - 198,000.00
May Purchases - -
Total Payment for RM 200,500.00 198,000.00
Equipment Purchases - -
Total Cash Disbursement 200,500.00 198,000.00

Requirement # 9 (Budgeted Income Statement)

SWIGGY MANUFACTURING CORP.

Budgeted Income Statement
For the Quarter Ending June 30, 2021

April
Sales 488,925.00
Cost of Sale - 407,225.00
Gross Profit 81,700.00
Selling Expenses - 42,114.00
General and Admin. Expenses - 16,500.00
Operating Income (Loss) 23,086.00
Interest Expense - 120.00
Net Income (Loss) Before Income Tax 22,966.00
Income Tax (35%) - 8,038.10
Net Income (Loss) 14,927.90

SWIGGY MANUFACTURING CORP.

Budgeted Cost of Goods Sold
For the Quarter Ending June 30, 2021
 April
Beg. WIP inventory -
Manufacturing Costs
Direct Materials
Beg. RM inventory 98,500.00
Purchases 198,000.00
Total 296,500.00
Less: Ending RM inventory - 99,500.00
Total Direct Materials 197,000.00
Direct Labor 147,750.00
Factory Overhead 46,595.00
Total Manufacturing Cost 391,345.00
Less: End. WIP inventory -
Cost of Goods Manufactured 391,345.00
Add: FG inventory Beg. 325,540.00
Total Available for Sale 716,885.00
Less: FG inventory End - 309,660.00
Cost of Goods Sold 407,225.00

Requirement # 10 (Budgeted Balance Sheet)

SWIGGY MANUFACTURING CORP.

Budgeted Balance Sheet
June 30, 2021

April
ASSETS
Current:
Cash 83,346.50
Accounts Receivable 342,247.50
Finished Goods Inventory 309,660.00
Raw Materials Inventory 99,500.00
Total Current Assets 834,754.00

Non Current Assets:

Equipment 600,000.00
Less: Accum. Depreciation - 170,000.00
Total Non Current Assets 430,000.00
TOTAL ASSETS 1,264,754.00

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities
Accounts Payable 198,000.00
Short Term Notes Payable -
Tax Payable 8,038.10
Total Current Liabilities 206,038.10

Non Current Liabilities:

Long-term Notes Payable 500,000.00
Total Non Current Liabilities 500,000.00
TOTAL LIABILITIES 706,038.10

Stockholders' Equity:
Common Stock 335,000.00
Retained Earnings 223,715.90
TOTAL EQUITY 558,715.90
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 1,264,754.00
 Swiggy Manufacturing Corporation
Sales Budgeting
For the Quarter ending June 30, 2021
Second Quarter
May June 2nd Quarter
19,500 20,000 60,000
23.85 23.85 23.85
Php 465,075 Php 477,000 Php 1,431,000

Swiggy Manufacturing Corporation

Production Budget
For the Quarter ending June 30, 2021

Second Quarter
May June 2nd Quarter
19,500 20,000 60,000
16,000 16,400 16,400
35,500 36,400 76,400
(15,600) (16,000) (16,400)
19,900 20,400 60,000

Swiggy Manufacturing Corporation

Raw Materials Budget
For the Quarter ending June 30, 2021

Second Quarter
May June 2nd Quarter
19,900 20,400 60,000
0.50 0.50 0.50
9,950 10,200 30,000
5,100 4,000 4,000
(4,975) (5,100) (4,925)
10,075 9,100 29,075
Php 20.00 Php 20.00 Php 20.00
Php 201,500 Php 182,000 Php 581,500
 Swiggy Manufacturing Corporation
Direct Labor Budget
For the Quarter ending June 30, 2021

Second Quarter
May June 2nd Quarter
19,900 20,400 60,000
0.50 0.50 0.50
9,950 10,200 30,000
Php 15 Php 15 Php 15
Php 149,250 Php 153,000 Php 450,000

Swiggy Manufacturing Corporation

Factory Overhead Budget
For the Quarter ending June 30, 2021

Second Quarter
May June 2nd Quarter
9,950 10,200 30,000
Php 2.70 Php 2.70 Php 2.70
Php 26,865 Php 27,540 Php 81,000
Php 20,000 Php 20,000 Php 60,000
Php 46,865 Php 47,540 Php 141,000

Swiggy Manufacturing Corporation

Selling Expense Budget
For the Quarter ending June 30, 2021

Second Quarter
May June 2nd Quarter
Php 465,075 Php 477,000 Php 1,431,000

8% 8% 8%
Php 37,206 Php 38,160 Php 114,480

Php 3,000 Php 3,000 Php 9,000

Php 40,206 Php 41,160 Php 123,480

Swiggy Manufacturing Corporation

 General and Administrative Expense Budget
For the Quarter ending June 30, 2021

Second Quarter
May June 2nd Quarter

- - -
Php - Php - Php -

Php 12,000 Php 12,000 Php 36,000

Php 4,500 Php 4,500 Php 13,500
Php 16,500 Php 16,500 Php 49,500

ING CORP.
tatement
une 30, 2021

June 2nd Quarter

124,295.50 40,000.00

143,100.00 429,300.00
325,552.50 1,010,048.00
592,948.00 1,479,348.00

331,500.00 730,000.00
153,000.00 450,000.00
27,540.00 81,000.00
41,160.00 123,480.00
16,500.00 49,500.00
10,000.00
569,700.00 1,443,980.00
23,248.00 35,368.00

16,752.00 16,752.00
- 12,000.00
- 120.00
40,000.00 40,000.00
40,000.00 40,000.00

ING CORP.
lection
une 30, 2021
 June 2nd Quarter

- 342,248.00
- 342,247.50
325,552.50 325,552.50
325,552.50 1,010,048.00

ING CORP.
ursement
une 30, 2021

June 2nd Quarter

- 200,500.00
- 198,000.00
201,500.00 201,500.00
201,500.00 600,000.00
130,000.00 130,000.00
331,500.00 730,000.00

NUFACTURING CORP.
Income Statement
er Ending June 30, 2021

May June 2nd Quarter

465,075.00 477,000.00 1,431,000.00
- 387,175.00 - 396,600.00 - 1,191,000.00
77,900.00 80,400.00 240,000.00
- 40,206.00 - 41,160.00 - 123,480.00
- 16,500.00 - 16,500.00 - 49,500.00
21,194.00 22,740.00 67,020.00
- - - 120.00
21,194.00 22,740.00 66,900.00
- 7,417.90 - 7,959.00 - 23,415.00
13,776.10 14,781.00 43,485.00

NUFACTURING CORP.
Cost of Goods Sold
er Ending June 30, 2021
 May June 2nd Quarter
- - -

99,500.00 102,000.00 98,500.00

201,500.00 182,000.00 581,500.00
301,000.00 284,000.00 680,000.00
- 102,000.00 - 80,000.00 - 80,000.00
199,000.00 204,000.00 600,000.00
149,250.00 153,000.00 450,000.00
46,865.00 47,540.00 141,000.00
395,115.00 404,540.00 1,191,000.00
- - -
395,115.00 404,540.00 1,191,000.00
309,660.00 317,600.00 325,540.00
704,775.00 722,140.00 1,516,540.00
- 317,600.00 - 325,540.00 - 325,540.00
387,175.00 396,600.00 1,191,000.00

NUFACTURING CORP.
ed Balance Sheet
ne 30, 2021

May June 2nd Quarter

124,295.50 40,000.00 40,000.00

325,552.50 333,900.00 333,900.00
317,600.00 325,540.00 325,540.00
102,000.00 80,000.00 80,000.00
869,448.00 779,440.00 779,440.00

600,000.00 730,000.00 730,000.00

- 190,000.00 - 210,000.00 - 210,000.00
410,000.00 520,000.00 520,000.00
1,279,448.00 1,299,440.00 1,299,440.00

201,500.00 182,000.00 182,000.00

- 16,752.00 16,752.00
 15,456.00 23,415.00 23,415.00
216,956.00 222,167.00 222,167.00

500,000.00 500,000.00 500,000.00

500,000.00 500,000.00 500,000.00
716,956.00 722,167.00 722,167.00

335,000.00 335,000.00 335,000.00

227,492.00 242,273.00 242,273.00
562,492.00 577,273.00 577,273.00
1,279,448.00 1,299,440.00 1,299,440.00