Can someone help with this. The Master Budget 1. Sales Budget 2. Production Budget Texas Rex...
Can someone help with this.
The Master Budget
1. Sales Budget
2. Production Budget
Texas Rex sells t-shirts. Expected sales for each quarter is 1000, 1200, 1500, and 2000 t-shirts at $10.00 each. They anticipate no price change.
Texas Rex, Inc.
Sales Budget
For the year ending December 31, 2018
Q1 Q2 Q3 Q4 Total
Units
Unit Selling Price _______ _______ ________ _______ ________
Budgeted Sales
A production budget tells management how many units must be produced to satisfy anticipated sales and ending inventory needs.
Assume the company requires 20% of the next quarter’s sales in ending inventory and that beginning inventory of t-shirts for the first quarter of the year was 180.
Texas Rex, Inc.
Production Budget
For the year ending December 31, 2018
Q1 Q2 Q3 Q4 Total
Sales in Units
Desired Ending Inv. _______ _______ ________ _______ ________
Total Needs
Less Beginning Inv. _______ _______ ________ _______ ________
Units to be Produced
Homework Answers
| Answer = Part I) | |||||
| SALES BUDGET | |||||
| 1ST QUARTER | 2ND QUARTER | 3RD QUARTER | 4TH QUAERTER | Total | |
| Budgeted Sales Units | 1000 | 1200 | 1500 | 2000 | 5700 |
| Selling price per unit | $ 10 | $ 10 | $ 10 | $ 10 | $ 10 |
| Budgeted Sales | $ 10,000 | $ 12,000 | $ 15,000 | $ 20,000 | $ 57,000 |
| Answer = Part II) | |||||
| Calculation of Production budget | |||||
| 1ST QUARTER | 2ND QUARTER | 3RD QUARTER | 4TH QUARTER | Total | |
| Units | Units | Units | Units | ||
| Production Budget (a) | 1000 | 1200 | 1500 | 2000 | 5700 |
| Desired ending inventory(b) | 240 | 300 | 400 | 0 | 940 |
| (20% of next months expecting unit Sales) | |||||
| Total Needs (a+b) | 1240 | 1500 | 1900 | 2000 | 6640 |
| Less: Beginning Inventory | 180 | 240 | 300 | 400 | 1120 |
| (Cl of 1st Quart) | (Cl of 2nd Quart) | (Cl of 3rd Quart) | |||
| Units to Be Produced | 1060 | 1260 | 1600 | 1600 | 5520 |
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Can someone help with this.
The Master Budget
1. Sales Budget
2. Production Budget
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respectively. The sales price is expected to be $38 per unit for
the first three quarters and $45 per unit beginning in the fourth
quarter. Sales in the first quarter of 2021 are expected to be 15%
higher...
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Schedules to include: a. Sales Budget, with a Schedule of Expected Cash Collections b. Production Budget C. Ending Finished Goods Inventory Budget d. Direct Materials Budget, with a Schedule of Cash Disbursement e. Direct Labor Budget f. Manufacturing Overhead Budget g. Selling & Administrative Expense Budget h. Cash Budget i. Budgeted Income Statement Sharp Products is a manufacturing company. It uses absorption costing for budgeting. amount unit Budgeted sales: Q1 of 2019 23,000 cases Q2...
create the initial documents for the master budget:
• sales budget
• production budget
• direct materials purchases budget
• direct labor budget
• overhead budget
• selling and administrative expense budget
• cash budget include a schedule of cash collections and
payments
• finished goods inventory calculation
Then, Create the following schedules, financial statements, and
calculations
A) Pro forma cost of goods manufactured
B) Pro forma Cost of goods sold- both financial and variable
cost basis
C) Pro forma...
Thank you for the help!
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