johnwileysons,inc16920xx

johnwileysons,inc16920xx内容摘要：

$ Fixed costs plete the manufacturing overhead budget and the totals are used to calculate an overhead rate, which will be applied to production on the basis of direct labor hours. Selling and Administrative Expense Budget H A Y E S C O M P A N Y S el l i ng an d A dmi nis t ra t i v e E xp en se Bu dg e t Fo r t he Y ear E nd i ng D e cembe r 3 1, 200 5 Q ua r t er 1 2 3 4 Y ear V ari ab l e exp en ses S al es C omm i ss i on s $9,000 $10 , 500 $12 , 000 $13 , 500 $45 , 000 Fre i gh t out 3, 000 3, 500 4, 000 4, 500 15,000 T otal v ari ab l e 12,000 14,000 16,000 18,000 60,000 Fixed expe ns es 30,000 30,000 30,000 30,000 120 , 000 Variable expenses are based on the unit sales projected in the sales budget. The rates per unit of sales are sales missions $ and freightout $. Fixed costs are based on assumed data. Total selling and $42,000 $44,000 $46,000 $48,000 $180,000 administrative expenses Budgeted Ine Statement STUDY OBJECTIVE 4 •The important endproduct of the operating budgets. – indicates the expected profitability of operations – provides a basis for evaluating pany performance •The budget is prepared from the: – Sales budget – Production budget – Direct labor budget – Direct materials purchases budget – Manufacturing Overhead budget – Selling and Administrative expense budget Computation of Total Unit Cost Cost of O ne Kitchen mate Cost E l emen t I l l ustrat i on Quanti ty Unit Cost Total Direct m ate ri als 24 7 2 p oun ds $ $ Direct l abor 24 8 2 h ours $ Manu fac turin g Ov erhead 24 9 2 h ours $ Total unit cost $ To find cost of goods sold for the Budgeted Ine Statement it is necessary to determine the total unit cost of a finished product using the direct materials, direct labor, and manufacturing overhead budgets. H A Y ES COM PA N YB ud get ed Ine Stat ementFo r th e Y ea r E nd ing Dece mb er 31 ,2 00 2Sales $900,000C ost of Goo ds Sold 660,000Gross Prof itSe ll ing a nd a dm inistrat iv e ex pen se s240,000180,000Ine f rom op era t ion s 60,000Int ere st expenseIne bef ore ine taxesIne t ax e xpenseN et in e10059,90012,000$ 47,900Budgeted Ine Statement Cost of goods sold can then be determined by multiplying the units sold by the unit cost. All data for the statement are obtained from the operating budgets except: interest expense ($100) and ine taxes ($12,000). (From sales budget) (15,000 x $44) Preparing the Financial Budgets STUDY OBJECTIVE 5 • Cash budget – anticipated cash flows – often considered to be the most important output in preparing financial budgets • The cash budget contains three sections: – Cash receipts – Cash disbursements – Financing Basic Form of a Cash Budget The cash receipts section includes expected receipts from the pany’s principal source(s) of revenue such as cash sales and collections from customers on credit sales. AN Y COMPANYCa sh Bud g etBe ginning cas h balan c e $ X ,xxxAd d: Cas h rece ipts ( It emized) X ,xxxTotal ava il ab le cas h X ,xxxLe ss : Cas h disbu rse ments(I tem ized)X ,xxxE xc ess ( de fi cien c y ) of availableca sh ove r cas h disbu rs eme ntsX ,xxxFinan cing X ,xxxE nding cas h balan c e $ X ,xxxBasic Form of a Cash Budget The cash disbursements section shows expected payments for direct materials, direct labor, manufacturing overhead, and selling and administrative expenses. This section also includes projected payments for ine taxes, dividends, investments, and plant assets. AN Y COMPANYCa sh Bud g etBe ginning cas h balan c e $ X ,xxxAd d: Cas h rece ipts ( It emized) X ,xxxTotal ava il ab le cas h X ,xxxLe ss : Cas h disbu rse ments(I tem ized)X ,xxxE xc ess ( de fi cien c y ) of availableca sh ove r cas h disbu rs eme ntsX ,xxxFinan cing X ,xxxE nding cas h balan c e $ X ,xxxBasic Form of a Cash Budget The financing section shows expected borrowings and the repayment of the borrowed funds plus interest. This section is needed when there is a cash deficiency or when the cash balance is below management’s minimum required balance. AN Y COMPANYCa sh Bud g etBe ginning cas h balan c e $ X ,xxxAd d: Cas h rece ipts ( It emized) X ,xxxTotal ava il ab le cas h X ,xxxLe ss : Cas h disbu rse ments(I tem ized)X ,xxxE xc ess ( de fi cien c y ) of availableca sh ove r cas h disbu rs eme ntsX ,xxxFinan cing X ,xxxE nding cas h balan c e $ X ,xxxS ch ed ul e o f E xp ect ed C ol lect io ns fr om C us to m er s Q u ar ter 1 2 3 4 Ac co u n ts re ce i v ab l e, 12 / 31 / 01 F i rs t q u ar ter ($1 80 , 00 0) S ec o n d q u ar ter ($2 10 , 00 0) T h i rd q u ar ter (24 0, 00 0) F o u rth q u ar ter (27 0, 00 0) T o tal co l l ec ti o n s $1。