A.
Sales Budget | |||
October | November | December | |
Sales Budget | $ 350,000.00 | $ 420,000.00 | $ 504,000.00 |
Cash Sales | $ 122,500.00 | $ 147,000.00 | $ 176,400.00 |
Sales on Account | $ 227,500.00 | $ 273,000.00 | $ 327,600.00 |
B.
Schedule of Cash Receipts | |||
October | November | December | |
Schedule of Cash Receipts | |||
Current cash sales | $ 122,500.00 | $ 147,000.00 | $ 176,400.00 |
Plus collection from A/R | $ 227,500.00 | $ 273,000.00 | |
Total Collections | $ 122,500.00 | $ 374,500.00 | $ 449,400.00 |
C.
Inventory Purchase budget | |||
October | November | December | |
Inventory purchase budget | |||
Cost of goods sold | $ 245,000.00 | $ 294,000.00 | $ 352,800.00 |
Add: Desired ending inventory | $ 58,800.00 | $ 70,560.00 | 13100 |
Inventory Needed | $ 303,800.00 | $ 364,560.00 | $ 365,900.00 |
Less: Beginning Inventory | $ 58,800.00 | $ 70,560.00 | |
Required purchases (on account) | $ 303,800.00 | $ 305,760.00 | $ 295,340.00 |
D.
Schedule of cash payments budget for inventory purchases | |||
October | November | December | |
Payments of current months accounts payable | $ 182,280.00 | $ 183,456.00 | $ 177,204.00 |
Payment for prior months account payable | $ 121,520.00 | $ 122,304.00 | |
Total budgeted payment for inventory | $ 182,280.00 | $ 304,976.00 | $ 299,508.00 |
E.
Selling and Administrative expenses budget | |||
October | November | December | |
Salary Expense | $ 19,100.00 | $ 19,100.00 | $ 19,100.00 |
Sales Commission | $ 14,000.00 | $ 16,800.00 | $ 20,160.00 |
Supplies Expense | $ 7,000.00 | $ 8,400.00 | $ 10,080.00 |
Utilities | $ 2,500.00 | $ 2,500.00 | $ 2,500.00 |
Depreciation on store fixtures | $ 5,100.00 | $ 5,100.00 | $ 5,100.00 |
Rent | $ 5,900.00 | $ 5,900.00 | $ 5,900.00 |
Miscellaneous | $ 2,300.00 | $ 2,300.00 | $ 2,300.00 |
Total S&A expenses | $ 55,900.00 | $ 60,100.00 | $ 65,140.00 |
F.
Schedule of cash payments for S&A expenses | |||
October | November | December | |
Salary Expense | $ 19,100.00 | $ 19,100.00 | $ 19,100.00 |
Sales Commission | $ 14,000.00 | $ 16,800.00 | |
Supplies Expense | $ 7,000.00 | $ 8,400.00 | $ 10,080.00 |
Utilities | $ 2,500.00 | $ 2,500.00 | |
Rent | $ 5,900.00 | $ 5,900.00 | $ 5,900.00 |
Miscellaneous | $ 2,300.00 | $ 2,300.00 | $ 2,300.00 |
Total S&A expenses | $ 34,300.00 | $ 52,200.00 | $ 56,680.00 |
G.
Cash Budget | |||
October | November | December | |
Opening Balance | $ - | $ 23,520.00 | $ 23,000.00 |
Cash Collection | $ 122,500.00 | $ 374,500.00 | $ 449,400.00 |
Cash available | $ 122,500.00 | $ 398,020.00 | $ 472,400.00 |
Less: Payments | |||
Inventory purchases | $ 182,280.00 | $ 304,976.00 | $ 299,508.00 |
S&A expenses | $ 34,300.00 | $ 52,200.00 | $ 56,680.00 |
Capital Expenditure | |||
Stores and fixtures | $ 153,400.00 | ||
Interest | $ 5,420.00 | $ 5,171.52 | |
Total budgeted payments | $ 369,980.00 | $ 362,596.00 | $ 361,359.52 |
Payments minus receipts | |||
Excess /(Deficiency) | $ (247,480.00) | $ 35,424.00 | $ 111,040.48 |
Financing Activity | |||
Borrowings / (Repayments) | $ 271,000.00 | $ (12,424.00) | $ (88,040.48) |
Ending Balance | $ 23,520.00 | $ 23,000.00 | $ 23,000.00 |
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