1 | Sales Budget | ||||
Jan | Feb | March | Quarter | ||
Unit Sales | 114,000 | 113,000 | 117,000 | 344,000 | |
Selling Price | 12 | 12 | 12 | 12 | |
Total Sales Revenue | 1,368,000 | 1,356,000 | 1,404,000 | 4,128,000 |
2 | Production Budget | |||||
Jan | Feb | March | Quarter | April | ||
Unit Sales | 114,000 | 113,000 | 117,000 | 344,000 | 126,000 | |
Plus: Desired ending inventory | 11,300 | 11,700 | 12,600 | 12,600 | 13,800 | |
Less: Beginning Inventory | 11,400 | 11,300 | 11,700 | 11,400 | 12,600 | |
Units to produce | 113,900 | 113,400 | 117,900 | 345,200 | 127,200 | |
3 | Direct Materials Budget | |||||
Jan | Feb | March | Quarter | April | ||
Units to be produced | 113,900 | 113,400 | 117,900 | 345,200 | 127,200 | |
Multiply by: Quantity of DM needed per unit | 2 | 2 | 2 | 2 | 2 | |
Total Quantity of DM needed | 227,800 | 226,800 | 235,800 | 690,400 | 254,400 | |
Plus: Desired Ending inventory of DM | 11,340 | 11,790 | 12,720 | 12,720 | ||
Less: Beginning inventory of DM | 11,390 | 11,340 | 11,790 | 11,390 | ||
Total Quantity of DM to purchase | 227,750 | 227,250 | 236,730 | 691,730 | ||
Multiply by: Cost per unit | 0.80 | 0.80 | 0.80 | 0.80 | ||
Total cost of DM Purchases | 182,200 | 181,800 | 189,384 | 553,384 |
4 | Direct Labour Budget | ||||
Jan | Feb | March | Quarter | ||
Units to be produced | 113,900 | 113,400 | 117,900 | 345,200 | |
Multiply by: DL hours per unit | 0.20 | 0.20 | 0.20 | 0.20 | |
Total DL hours | 22,780 | 22,680 | 23,580 | 69,040 | |
Multiply by: DL Rate | 9.00 | 9.00 | 9.00 | 9.00 | |
Total Direct Labour budget | 205,020 | 204,120 | 212,220 | 621,360 | |
5 | Manufacturing Overhead Budget | ||||
Jan | Feb | March | Quarter | ||
Variable Costs | - | ||||
Indirect Material | 6,834 | 6,804 | 7,074 | 20,712 | |
Indirect Labour | 11,390 | 11,340 | 11,790 | 34,520 | |
Utilities | 11,390 | 11,340 | 11,790 | 34,520 | |
Maintenance | 6,834 | 6,804 | 7,074 | 20,712 | |
Total Variable Cost | 36,448 | 36,288 | 37,728 | 110,464 | |
Fixed Costs | |||||
Salaries | 41,000 | 41,000 | 41,000 | 123,000 | |
Depreciation | 18,300 | 18,300 | 18,300 | 54,900 | |
Property Taxes | 2,400 | 2,400 | 2,400 | 7,200 | |
Maintenance | 1,300 | 1,300 | 1,300 | 3,900 | |
Insurance | 1,400 | 1,400 | 1,400 | 4,200 | |
Total Fixed Cost | 64,400 | 64,400 | 64,400 | 193,200 | |
Total Manufacturing OH | 100,848 | 100,688 | 102,128 | 303,664 | |
Direct Labour Hours | 22,780 | 22,680 | 23,580 | 69,040 | |
6 | Selling and Admin Expense Budget | ||||
Jan | Feb | March | Quarter | ||
Budgeted Sales in units | 114,000 | 113,000 | 117,000 | 344,000 | |
Variable Expenses per unit | 1.50 | 1.50 | 1.50 | 1.50 | |
Total Variable S&A Expenses | 171,000 | 169,500 | 175,500 | 516,000 | |
Fixed Expenses | |||||
Advertising | 14,000 | 14,000 | 14,000 | 42,000 | |
Insurance | 1,600 | 1,600 | 1,600 | 4,800 | |
Salaries | 71,000 | 71,000 | 71,000 | 213,000 | |
Depreciation | 2,600 | 2,600 | 2,600 | 7,800 | |
Other | 3,200 | 3,200 | 3,200 | 9,600 | |
Total Fixed Expenses | 92,400 | 92,400 | 92,400 | 277,200 | |
Total S&A Expenses | 263,400 | 261,900 | 267,900 | 793,200 | |
6 | Expected collection from debtors | ||||
Jan | Feb | March | Quarter | ||
Accounts Receivable as on 31.12.2019 | 27,540 | 27,540 | |||
January Sales | 1,162,800 | 205,200 | 1,368,000 | ||
Feb Sales | 1,152,600 | 203,400 | 1,356,000 | ||
March Sales | 1,193,400 | 1,193,400 | |||
Total Cash collections | 1,190,340 | 1,357,800 | 1,396,800 | 3,944,940 | |
7 | Expected Cash payment for purchases | ||||
Jan | Feb | March | Quarter | ||
Accounts Payable as on 31.12.2019 | 51,868 | 51,868 | |||
January | 91,100 | 91,100 | 182,200 | ||
Feb | 90,900 | 90,900 | 181,800 | ||
March | 94,692 | 94,692 | |||
Total | 142,968 | 182,000 | 185,592 | 510,560 |
Note: Format of Cash budget is not clear in the question
Waterways Corporation is preparing its budget for the coming year, 2020. The first step is to...
Waterways Corporation is preparing its budget for the coming year, 2020. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in preparation of the budgeting process. Sales Unit sales for November 2019 114,000 Unit sales for December 2019 101,000 Expected unit sales for January 2020 114,000 Expected unit sales for February 2020 112,000 Expected unit sales for March 2020 117,000 Expected unit sales for April 2020 126,000...
Weygandt, Accounting Principles, 13e Help I System Announcements CAL CULATOR PRINTER VERSION BACK NEX Question 2 Waterways Corporation is preparing its budget for the coming year, 2020. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in preparation of the budgeting process. Sales Unit sales for November 2019 Unit sales for December 2019 Expected unit sales for January 2020 Expected unit sales for February 2020 Expected unit...
SalesUnit sales for November 2019114,000Unit sales for December 2019103,000Expected unit sales for January 2020114,000Expected unit sales for February 2020111,000Expected unit sales for March 2020116,000Expected unit sales for April 2020125,000Expected unit sales for May 2020136,000Unit selling price$12Waterways likes to keep 10% of the next month’s unit sales in ending inventory. All sales are on account. 85% of the Accounts Receivable are collected in the month of sale, and 15% of the Accounts Receivable are collected in the month after sale. Accounts...
Waterways Corporation is preparing its budget for the coming year, 2020. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in preparation of the budgeting process.SalesUnit sales for November 2019111,000Unit sales for December 2019101,000Expected unit sales for January 2020112,000Expected unit sales for February 2020114,000Expected unit sales for March 2020115,000Expected unit sales for April 2020124,000Expected unit sales for May 2020138,000Unit selling price$12Waterways likes to keep 10% of the...
This is all one question. Thank you, I will give you a thumbs up if correct! Waterways Corporation is preparing its budget for the coming year, 2020. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in preparation of the budgeting process. Sales Unit sales for November 2019 Unit sales for December 2019 Expected unit sales for January 2020 Expected unit sales for February 2020 Expected unit...
all the pictures go together...Thank you so much! Waterways Continuing Problem 21 (Part Level Submission) Waterways Corporation is preparing its budget for the coming year, 2017. The first step is to plan for the first quarter of that coming year. Waterways gathered the following information from the managers. Sales Unit sales for November 2016 Unit sales for December 2016 Expected unit sales for January 2017 Expected unit sales for February 2017 Expected unit sales for March 2017 112,500 102,100 113,000...
Waterways Corporation is continuing its budget preparations. Waterways had the following static budget and actual overhead costs for March. WATERWAYS CORPORATION Manufacturing Overhead Budget (Static) For the Month of March Budgeted production in units 124,000 Budgeted costs Indirect materials $6,200 Indirect labor 13,640 Utilities 12,400 Maintenance 8,680 Salaries 44,700 Depreciation 17,100 Property taxes 3,300 Insurance 1,300 Janitorial 1,400 Total budgeted costs $108,720 WATERWAYS CORPORATION Manufacturing Overhead Costs (Actual) For the Month of March Production in units 125,000 Costs Indirect materials...
I have the answers for #'s 1-4. I really only need #'s 5-9. But feel free to answer 1-4 again so others can see. Waterways Corporation is preparing its budget for the coming year, 2017. The first step is to plan for the first quarter of that coming year. Waterways gathered the following information from the managers. Sales Unit sales for November 2016 112,500 Unit sales for December 2016 102,100 Expected unit sales for January 2017 113,000 Expected unit sales...
Waterways Continuing Problem (This is a continuation of the Waterways Problem from Chapters 1 through 8.) WCP9 Waterways Corporation is preparing its budget for the coming year, 2014. The first step is to plan for the first quarter of that coming year. Waterways gathered the fol- lowing information from the managers. Sales 112.500 102.100 113,000 Unit sales for November 2013 Unit sales for December 2013 Expected unit sales for January 2014 Expected unit sales for February 2014 Expected unit sales...
Waterways Continuing Problem (This is a contineation of the Waterways Problem froes Chapsers 1 through 8. wCP9 Waterways Corporation is preparing ins badget for the coming yeat 2014. The firt step is to plan for the first quarter of that coming vear Waterways gathered the fol- lowing information from the managers Sales Unit sales for November 2013 Unit sales for December 2013 Espected unit sales fo January 2014 Expected unit sales for February 2014 Expected unit sales Sor March 2014...