FM Master Manufacturing

Budgeted Sales
For April, May, June Ending 2021

April May June

Budgeted Sales (Unit) 30,000.00 32,000.00 28,000.00
Sells Price 18 18 18
Total Sales 540000 576000 504000

FM Master Manufacturing
Estimated Production Budget
For April, May, June Ending 2021

April May June

Budgeted Sales(Unit) 30,000 32,000 28,000
Desired Ending Inventory 19500 20800 18200
Total Required For Month 49,500 52,800 46,200
Less: Beginning FG Inventory -18,800 -20,800 -18,200
Estimated Production 30,700 32,000 28,000

FM Master Manufacturing
Raw Materials Budget
For April, May, June Ending 2021

April May June

Estimated Production Unit 30,700 32,000 28,000
Raw Materials Needed 0.50 0.5 0.5 0.5
Materials Needed For Production 15350 16000 14000
Desired Ending RM Inventory 8000 7000 6900
Estimated RM For Period 23350 23000 20900
Less: Beginning Raw Materials Investment -12525 -3675 -4068.75
Materials To Be Purchased 10825 19325 16831.25
Price Per Raw Material 7.5 7.5 7.5
Estimated Raw Materials Cost 81187.5 144937.5 126234.375

FM Master Manufacturing
DIRECT Labor Budget
For April, May, june Ending 2021

April May June

Estimated Production Units 30,700 32,000 28,000
Direct Labor Per Unit 0.5 0.5 0.5
Estimated DL Hours Needed 15350 16000 14000
Direct Labor Hour Rate 18 18 18
Estimated Direct Labor Cost 276300 288000 252000

FM Master Manufactuing
Factory Overhead Budget
For April, May,June Ending 2021

April May June

Number Direct Labor Hours 15350 16000 14000
Variable Overhead Rate 2.5 2.5 2.5
Total Estimated Variable Overhead 38375 40000 35000
Fixed Overhead 18,000 18,000 18,000
Total Estimated Factory Overhead 56,375 58,000 53,000

FM Master Manufacturing
Selling Expense Budget
For April, May, June Ending 2021

April May June

Budgeted Sales 540,000 576,000 504,000
Sales Commission Rate 0.25 0.25 0.25
Estimated Sales Commission 135000 144000 126000
Sale Salaries 15,000 15,000 15,000
Estimated Selling Expense 150,000 159,000 141,000

FM Master Manufacturing
General Administrative Expenses
For April, May, June Ending 2021

April May June

Estimated Salaries 24,000 24,000 24,000
Interest Long Term Note 0.75% 1875 1875 1875
Estimated Total Gen. And Admin Expenses 25,875 25,875 25,875

FM Maste Manufacturing
Cash Budget
For April, May, June Ending 2021
 April May June
Beginning Cash Initial From Balance Sheet 60,000 345950 -345950
Add: Estimated Cash Receipts 162,000 162,000 162,000
Total Cash Available 222,000 9,150 345,650
Other Items
Production Cost:
Raw Materials -65000 -81188 -144938
Direct Labor -276300 -288000 -252000
Factory Overhead -38,375 -40000 -35000
Operating Cost
Selling-Commissions -135000 -144000 -126000
Selling-Salaries -15,000 -15,000 -15,000
General Administrative -24,000 -24,000 -24,000
Dividents, Capital Expedinture, & Interest
Dividents -25000
Equipment Purchase -100000
Interest-Long Term Note -1875 -1875 -1875
Interest-Short Term Note -400 29,065.62
Income Tax Expense -12000
Total Other Disbursements -567950
Preliminary Cash Over Short -345950 -345950 -345950
Repayment 297,650
Ending Cash Balance -345950 -345950 -48300

FM Master Manufacturing
Budgeted Income Statement
For April, May, June Ending 2021

Sales 1,620,000
Less: Cost Of Good Sold 1,080,000
Gross Profit 540,000
Operating Expenses
Selling Expenses
Sales Commission 405,000
Sales Salaries 45,000 450000
Gen. Administrative Expenses
Admin Salaries 72,000
Interest LT Note 5,625
Interest ST Note 400 78025
Total Operating Expense 528025
Income Before Tax 11,975
Less: Income Tax Expense 30% 3,592.50
Net Income 8,382.5

FM Master Manufacturing
Budgeted Balance Sheet
As Of June 2021

ASSETS
Cash 50,000
Account Receivable 150,000
Raw Materials 25,875
Finished Good Inventory 208,900
Total Current Assets 434775

Equipment Gross 750,000

Accumulated Depreciation -254,000
Equipment Net 496,000

Total Assets 930,775

LIABILITIES
Accounts Payable 126234.375
Income Taxes Payable 8,382.5
Short Term Notes Payable 29,065.62
Total Current Liabilities
Long Term Note Payable 250,000
Total Liabilities 413682.495
STOCKHOLDERS EQUITY
Common Stock 383,500 521882.5
Retained Earnings 138,382.50 930,775
Total Stockholders Equity

Retained Earnings, Beginning 155,000

Net Income 8,382.50
163382.5
Less: Cash Dividends -25,000
Ending Retained Earnings 138382.5

Beginning FG Inventory 200,500

ADD: COGM 1,088,400
TOTAL FG AVAILABLE 1,288,900
Less: End FG Inventory 208,900
COGS 1,080,00

Beginning RM 45,000
ADD: Purchases 352,359.38
TOTAL RM AVAILABLE 25,875
Less: End RM 378,234.38
RM USED
Total
90,000.00

1620000

Total
90,000
58500
148,500
-57,800
90,700

Total

352359.375

Total
 816300

Total

114375
54,000
168,375

Total

405000
45,000
450,000

Total
72,000
5625
77,625
Total

CASH BUDGET RECEIPTS

April May June

Estimated Sales 540,000 57,600 504,000
Ending Accounts Recievable 324,000 345,600 302,400
Cash Receipts
Month Of Sale 40% 12,000 12,800 11,200
Collection Of Prior Months 150,000 324,000 345,600
162,000 336,800 356,800

CASH PAYMENT BUDGET

Estimated Raw Materials 81,188 144,937 126,234.38
PAYMENTS 65,000.00 81,187.50 144,937.50