Un

a Universal pa
Sales Budget fo
For the Quarter Ending Se

Expected Unit Sales

Unit Selling Price
Total Sales

b Universal pa
Cash Collec
For the Quarter Ending Se
60% 40% July
Sales Revenue Sales $ 2,700,000
Collections
June $ 1,080,000
July $ 1,620,000
August
September
Total Cash Collections 2,700,000
June Sales
Price per unit
June Sales revenue
60% of the Sales collected in June
40% of the remaining June Sales collected in July
Accounts Recievable from September Sales (40% of $3525000)

F
25%
 Expected sales in unit
ADD: Desired Ending Inventory
Gross Units Required
LESS: Opening Units
Required production units

d Univ
Dire
For the Third Qu
Inventory balance % 20%
Units to be produced
Direct Materials Per Unit
Total Kilogram's needed for production
Add: Desired Ending Direct Materials (kgs)
Total Materials Required
Less: Beginning Direct Materials (kilograms)
Direct Material Purchases
Cost Per Kilogram
Total Cost of Direct Materials Purchases

e Universal pa
Schedule of Expected Paymen
For the Quarter Ending Se
60% 40% July
Purchases Sales $ 630,787.5
Payments
June $ 344,925.0
July $ 378,472.5
August
September
Total Payments $ 723,397.5
Accounts payable of September's 40% $ 298,620.00
f Universal pa
Budget for Direc
For the Quarter Ending Se

Units to be produced
Direct Materials Per Unit (hours)
Total hours needed for production
Direct Labour cost per hour
Total Direct Labour Cost

g Universal pa
Manufacturing Over
For the Third Quarter Ending
$/hour
Variable Costs
Maintenance $ 0.40
Utilities $ 0.60
Indirect labour $ 0.60
Indirect Materials $ 0.40
Total Variable Cost $ 2.00
Fixed Expense
Janitorial
Depreciation
Insuarance
Property Taxes
Salaries
Total Fixed Costs
Total Manufacturing Overhead
Direct Labour Hours
MOH rate per Direct Labour Hour

h Universal pa
Cost Per U
 For the Quarter Ending Se
Quantity
Direct Material 1.5
Direct Labour 0.15
Manufacturing Overhead 0.15
Total Unit Cost

i Universal pa
Selling and Administrative
For the Quarter Ending Se

Variable Selling Expense

Budgeted Sales
Variable Selling and Administrative Expenses
Total Variable Selling Expense
Fixed Selling Expenses
Salaries
Other fixed cost
Insuarance
Depreciation
Advertising
Total Fixed Selling Expense
Total Selling Expenses

J Universa
Cash
For the Quarter End

Beginning Cash Balance

Collection from Customers (+)
Total Available Cash

Direct Materials
 Direct Labour
Manufacturing Overhead
Selling and Adminstrative Expenses
Equipment Purchases
Dividends
Total Disbursements
EXCESS/DEFICIT
Financing
Borrowings
Repayment
Interest Expense
Total Financing
Ending Cash Balance
Loan Balance
Manufacturing overhead : MOH - DEP
Selling and Adminstrative expenses : Selling and adminstrative expenses - DEP

A Universal Parts Ltd.

Income Statement (Budgeted)
For the Quarter Ending September 30, 202
Sales $ 15.00
Less:Cost of Goods Sold $ 6.15
Gross Profit
Less: Sales and Adminstrative Expense
Income from Operations
Less: Interest Expense
Income before taxes

Net Income

B Universal parts Ltd.

Balance Sheet (Budgeted)
For the Third Quarter Ending September 30,
Assets
 Cash
Accounts Receivable (1)
Finished Goods Inventory (2)
Raw Material Inventory (3)
Total Current Assets
Buildings and Equipment
Accumulated Depreciation
Total Assets

Liabilities and Shareholder's Equity

Accounts Payable (4)

Loan Balance (5)
Common Shares $ 632,172
Retained Earnings (6) $ 4,650,324
Total Shareholder's Equity
Total Liabilities and Shareholder's Equity

1 From Additional Information of Cash Collections

2 Calculated by multiplying desired ending inventory from Production Budget by Cost per Unit
3 Calculated by multiplying Desired Ending Direct Materials by Cost per Kilogram from Direct M
4 From Additional Information Schedule of Expected Payments
5 Derived from Ending Loan Balance in Cash Budget
6 Beginning Balance of Retained Earnings + Net Income - Dividends Paid Out
Beginning Retained Earnings $ 685,000
Net Income $ 4,465,324
Dividends (-) $ (500,000)
Ending Retained Earnings $ 4,650,324
 Universal part Ltd. Master Budget.
Universal part Ltd.
Sales Budget for RG32
r the Quarter Ending September 30, 2024
July August September Total Q3
180,000 230,000 235,000 645,000
$ 15 $ 15 $ 15 $ 15
$ 2,700,000 $ 3,450,000 $ 3,525,000 $ 9,675,000

Universal parts Ltd.

Cash Collection
r the Quarter Ending September 30, 2024
July August September Total Q3
2,700,000 $ 3,450,000 $ 3,525,000 $ 9,675,000

1,080,000 $ 1,080,000
1,620,000 $ 1,080,000 $ 2,700,000
$ 2,070,000 $ 1,380,000.0 $ 3,450,000
$ 2,115,000 $ 2,115,000
2,700,000 3,150,000 3,495,000 9,345,000
180000
$ 15.00
$ 2,700,000.00
$ 1,620,000.00
$ 1,080,000.00
$ 1,410,000.00

Universal parts Ltd.

Production Budget
For the Quarter Ending September 30, 2024
July August September Total Q3
 180,000 230,000 235,000 645,000
57,500 58,750 60,000 60,000
237,500 288,750 295,000.0 705,000.0
(45,000) (57,500) (58,750) (161,250)
192,500 231,250 236,250.00 660,000.00

Universal parts Ltd.

Direct Materials Budget
For the Third Quarter Ending September 30, 2024
July August September Total Q3
192500 231,250 236,250.00 660,000.00
1.50 1.50 1.50 1.50
288,750.00 346,875.00 354,375.00 990,000.00
69,375.00 70,875.00 72,000.00 72,000.00
358,125.00 417,750.00 426,375.00 1,062,000.00
(57,750.00) (69,375.00) (70,875.00) (57,750.00)
300,375.00 348,375.00 355,500.00 1,004,250.00
$ 2.10 $ 2.10 $ 2.10 $ 2.10
$ 630,787.50 $ 731,587.50 $ 746,550.00 $ 2,108,925.00

Universal parts Ltd.

ule of Expected Payments for Direct Materials
or the Quarter Ending September 30, 2024
July August September Total Q3
630,787.5 $ 731,587.5 $ 746,550.0 $ 2,108,925.0

344,925.0 $ 344,925.0
378,472.5 $ 252,315.0 $ 630,787.5
$ 438,952.5 $ 292,635.0 $ 731,587.5
$ 447,930.0 $ 447,930.0
723,397.5 $ 691,267.5 $ 740,565.0 $ 2,155,230.0
298,620.00
 Universal parts Ltd.
Budget for Direct Labour
or the Quarter Ending September 30, 2024
July August September Total Q3
192,500 231,250 236,250 660,000
0.15 0.15 0.15 0.15
28875 34687.5 35437.5 99000
$ 16.00 $ 16.00 $ 16.00 $ 16.00
$ 462,000 $ 555,000 $ 567,000 $ 1,584,000

Universal parts Ltd.

Manufacturing Overhead Budget
he Third Quarter Ending September 30, 2024
July August September Total Q3

$ 11,550.00 $ 13,875.00 $ 14,175.00 $ 39,600.00

$ 17,325.00 $ 20,812.50 $ 21,262.50 $ 59,400.00
$ 17,325.00 $ 20,812.50 $ 21,262.50 $ 59,400.00
$ 11,550.00 $ 13,875.00 $ 14,175.00 $ 39,600.00
$ 57,750.00 $ 69,375.00 $ 70,875.00 $ 198,000.00

$ 2,500 $ 2,500 $ 2,500 $ 7,500

$ 15,200 $ 15,200 $ 15,200 $ 45,600
$ 5,250 $ 5,250
$ 6,300 $ 6,300
$ 44,800 $ 44,800 $ 44,800 $ 134,400
$ 74,050 $ 62,500 $ 62,500 $ 199,050
$ 131,800 $ 131,875 $ 133,375 $ 397,050
28,875.00 34,687.50 35,437.50 99,000.00
$ 4.01

Universal parts Ltd.

Cost Per Unit
r the Quarter Ending September 30, 2024
Unit Cost Total Q3
$ 2.10 $ 3.15
$ 16.00 $ 2.40
$ 4.01 $ 0.602

$ 6.15

Universal parts Ltd.

ling and Administrative Expenses Budget
r the Quarter Ending September 30, 2024
July August September Total Q3

$ 180,000 $ 230,000 $ 235,000 $ 645,000

$ 1.50 $ 1.50 $ 1.50 $ 1.50
$ 270,000 $ 345,000 $ 352,500 $ 967,500

$ 62,100 $ 62,100 $ 62,100 $ 186,300

$ 4,600 $ 4,600 $ 4,600 $ 13,800
$ 3,600 $ 3,600
$ 2,800 $ 2,800 $ 2,800 $ 8,400
$ 12,000 $ 12,000 $ 12,000 $ 36,000
$ 85,100 $ 81,500 $ 81,500 $ 248,100
$ 355,100 $ 426,500 $ 434,000 $ 1,215,600

Universal parts Ltd.

Cash Budget
For the Quarter Ending September 30, 2024
July August September
$ 184,000 $ 501,903 $ 501,010
$ 2,700,000 $ 3,150,000 $ 3,495,000
$ 2,884,000 $ 3,651,903 $ 3,996,010

$ 723,397.50 $ 691,267.50 $ 740,565.00

 $ 462,000.00 $ 555,000.00 $ 567,000.00
$ 116,600.00 $ 116,675.00 $ 118,175.00
$ 352,300.00 $ 423,700.00 $ 431,200.00
$ 1,500,000.00 $ 1,500,000.00
$ 500,000.00
$ 3,154,297.50 $ 3,286,642.50 $ 2,356,940.00
$ (270,297.50) $ 365,260.00 $ 1,639,070.00

$ 780,000.00 $ 145,000.00
$ 1,125,000.00
$ 7,800.00 $ 9,250.00 $ 9,250.00
$ 772,200.00 $ 135,750.00 $ (1,134,250.00)
$ 501,902.50 $ 501,010.00 $ 504,820.00
$ 780,000.00 $ 925,000.00 $ 925,000.00

DEP

rts Ltd.
(Budgeted)
September 30, 2023
645,000 $ 9,675,000.00
645,000 $ (3,967,776.14)
$ 5,707,223.86
$ (1,215,600.00)
$ 4,491,623.86
$ (26,300.00)
$ 4,465,324

$ 4,465,323.86

rts Ltd.
Budgeted)
ng September 30, 2023
 $ 504,820
$ 1,410,000
$ 369,096
$ 151,200
$ 2,435,116
$ 3,000,000
$ (54,000)
$ 5,381,116

lder's Equity

$ 298,620
$ (200,000)

$ 5,282,496
$ 5,381,116

on Budget by Cost per Unit

st per Kilogram from Direct Materials Budget

s Paid Out
er Budget.

Total Q3
645,000
15
9,675,000

otal Q3
9,675,000

1,080,000
2,700,000
3,450,000
2,115,000
9,345,000

Total Q3 October November

 645,000 240,000 240,000
60,000 60,000
705,000.0 300,000
(161,250) (60,000)
660,000.00 240,000.00

Total Q3 October
660,000.00 240,000
1.50 1.50
990,000.00 360,000.00
72,000.00
1,062,000.00
(57,750.00)
1,004,250.00
2.10
2,108,925.00

otal Q3
2,108,925.0

344,925.0
630,787.5
731,587.5
447,930.0
2,155,230.0
 Total Q3
660,000
0.15
99000
16.00
1,584,000

otal Q3

39,600.00
59,400.00
59,400.00
39,600.00
198,000.00

7,500
45,600
5,250 Three months' insurance is paid for on the first of the quarter's first month.
6,300 Property Taxes Property taxes are paid at the start of each fiscal quarter.
134,400
199,050
397,050
99,000.00
4.01
 3.15
2.40
0.602

6.15

Total Q3

645,000
1.50
967,500

186,300
13,800
3,600
8,400
36,000
248,100
1,215,600

Total Q3
$ 184,000
$ 9,345,000
$ 9,529,000

$ 2,155,230.00
$ 1,584,000.00
$ 351,450.00
$ 1,207,200.00
$ 3,000,000.00
$ 500,000.00
$ 8,797,880.00
$ 731,120.00

$ 925,000.00
$ 1,125,000.00
$ 26,300.00
$ (226,300.00)
$ 504,820.00
$ (200,000.00)