Business Finance Performance Task

Performance
Task
in
Business
Finance
Submitted by:
Dizon, Julian
Emerenciana, Joshua
Santos, Vann Vincent
Clemente, Wilma
Cruz, Francine
Garcia, Donita Anne
Macapagal, Liana Joyce
Macaspac, Katherine Cherrisse
Ruben, Chantel
I. Prepare a production budget for 2022 given the following information:
2021
Inventories at the beginning of the year 200,000
Actual Sales (in units) 5,000,000
Ending Inventories 250,000
For 2022, the KPR Corporation projected a 15% increase in sales. The level of
ending inventories is expected to vary with sales but it shall be at the same
percentage in relation to total sales as that of year 2021.
2021 2022
Expected Sales 5,000,000 5,750,000
Ending Inventories 250,000 287,500
Total Required Units 5,250,000 6,037,500
Beginning Inventories -200,000 -250,000
Production Budget 5,050,000 5,787,500
Expected Sales = 5,000,000 x 115% or 1.15

Ending Inventories = 250,000/5,000,000 x 5,750,000
II. The statement of financial position of Bright Future Company, a distributor of
photographic supplies as of September 30, 2021, is given below:
1. Prepare a projected income statement for October 2021.
BRIGHT FUTURE COMPANY

Income Statement
October 2021
Revenue:
Sales 250,000
Beginning Inventory 30,000
Purchases 200,000
Ending Inventory -40,000
Cost of Goods Sold 190,000
Gross Profit 60,000
Expenses:
Operating expense 51,000
Depreciation expense 2,000
Interest expense 500
Total expense 53,500
Net Income 6,500
2. Prepare a cash budget for October 2021. Support your budget with schedules
showing
a. budgeted cash receipts from sales
b. budgeted cash payments for inventory purchases

Cash Budget
For October 2021
September 30 balance 80,000

Cash sales 60,000
Cash receipts from sales 95,000
Cash receipts from September sales 72,000
Cash receipts from borrowings 18,000
Total cash receipts 253,000
Payment for inventory purchases 80,000

Payment for September inventory purchases 90,000
Payment for operating expense 51,000
Payment for notes payable 15,000
Payment for interest 500
Payment for new warehouse equipment 9,000
Total payments 245,500
October cash balance 7,500

3. Prepare a projected statement of financial position for October 2021.

Statement of Financial Position
For October 2021
Assets
Cash 7,500
Accounts Receivable 95,000
Inventory 40,000
Building and equipment, net of depreciation 507,000
Total Assets 649,500
Liabilities and Equity

Trade Account Payable 120,000
Notes Payable 18,000
Total Liabilities 138,000
Rey Ricarder, Capital 511,500
Total Liabilities and Equity 649,500
Name of Student/Evaluator: Macapagal, Liana Joyce G.

Macapagal, Macaspac, Garcia, Cruz. Clemente, Ruben, Emerenciana, Dizon, Santos,
Rate Liana Katherine Donita Francin Wilma Chantel Joshua Julian Vincent
e
Excellent
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(10)
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Good
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(8)
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Marginal
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(6)
Unsatisfactory
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Non-
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(0)
Name of Student/Evaluator: Macaspac, Katherine

e
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(10)
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Good
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(8)
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(6)
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(0)
Name of Student/Evaluator: Garcia, Donita

e
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(10)
✓ ✓ ✓ ✓ ✓ ✓
Good
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(8)
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(6)
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(0)
Name of Student/Evaluator: Cruz, Francine

e
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(10)
✓ ✓ ✓ ✓ ✓ ✓
Good
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(8)
✓ ✓ ✓
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(6)
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(0)
Name of Student/Evaluator: Clemente, Wilma

e
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(10)
✓ ✓ ✓ ✓ ✓ ✓
Good
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(8)
✓ ✓ ✓
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(6)
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Non-
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(0)
Name of Student/Evaluator: Ruben, Chantel

e
Excellent
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(10)
✓ ✓ ✓ ✓ ✓ ✓
Good
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(8)
✓ ✓ ✓
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(6)
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(0)
Name of Student/Evaluator: Emerenciana, Joshua

e
Excellent
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(10)
✓ ✓ ✓ ✓ ✓ ✓
Good
Contributor
(8)
✓ ✓ ✓
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(6)
Unsatisfactory
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(4)
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(0)
Name of Student/Evaluator: Dizon, Julian

e
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(10)
✓ ✓ ✓ ✓ ✓ ✓
Good
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(8)
✓ ✓ ✓
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(6)
Unsatisfactory
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Non-
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(0)
Name of Student/Evaluator: Santos, Vincent

e
Excellent
Contributor
(10)
✓ ✓ ✓ ✓ ✓ ✓
Good
Contributor
(8)
✓ ✓ ✓
Marginal
Contributor
(6)
Unsatisfactory
Contributor
(4)
Non-
Contributor
(0)

Business Finance Performance Task

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Business Finance Performance Task

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Performance

I. Prepare a production budget for 2022 given the following information:

Expected Sales = 5,000,000 x 115% or 1.15

BRIGHT FUTURE COMPANY

BRIGHT FUTURE COMPANY

September 30 balance 80,000

Payment for inventory purchases 80,000

October cash balance 7,500

BRIGHT FUTURE COMPANY

Liabilities and Equity

Name of Student/Evaluator: Macapagal, Liana Joyce G.

Name of Student/Evaluator: Macaspac, Katherine

Name of Student/Evaluator: Garcia, Donita

Name of Student/Evaluator: Cruz, Francine

Name of Student/Evaluator: Clemente, Wilma

Name of Student/Evaluator: Ruben, Chantel

Name of Student/Evaluator: Emerenciana, Joshua

Name of Student/Evaluator: Dizon, Julian

Name of Student/Evaluator: Santos, Vincent

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