Budgets of Siounx Manufacturing Company
Sales Revenue Budget | ||
Product | Drill | Saw |
Units | 60,000 | 40,000 |
(x) Unit Price | $ 105 | $ 120 |
Sales revenue ( in dollars) | $ 6,300,000 | $ 4,800,000 |
Production Budget (units) | ||
Product | Drill | Saw |
Sales (in units) | 60,000 | 40,000 |
Add: Closing Inventory of finished goods | 24,000 | 9,000 |
Total units required | 84,000 | 49,000 |
Less: Opening Inventory of finished goods | (20,000) | (7,500) |
Budgeted Production | 64,000 | 41,500 |
Budgeted Statement of Cost of goods manufactured | |||
Product | Drill | Saw | Total |
Direct Material p.u. | |||
Metal | $ 40 | $ 32 | |
Plastic | $ 15 | $ 15 | |
Handles | $ 3 | $ - | |
Total Direct material p.u. | $ 58 | $ 47 | |
Direct Labor p.u. | $ 24 | $ 48 | |
Variable Manufacturing OH p.u. | $ 3 | $ 5 | |
Maunfacturing Variable Cost p.u. | $ 85 | $ 100 | |
(x) Budgeted Production | 64,000 | 41,500 | |
Total Variable Cost of manufacture | $ 5,440,000 | $ 4,150,000 | $ 9,590,000 |
Add: Fixed manufacturing OH | $ 225,000 | ||
Total Manufacturing Cost | $ 9,815,000 | ||
Add: Closing WIP | $ - | ||
Less: Opening WIP | $ - | ||
Cost of goods manufactured | $ 9,815,000 |
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