Statement of Financial Positionsssaaaaaaa

Budget Plan
Statement of Financial Position

December 31, 2015
ASSETS
Current Assets
Cash
245,750.00
Accounts
Receivable
370,260.00
Less: Allowance for Doubtful Accounts
7,400.00
Inventorie
362,860.00
214,250.00
s: Raw Materials
Finished Goods
85,700.00
Total
Current Assets
299,950.00
908,560.00
Non-current
Assets
Property, Plant and Equipment
2,604,740.00
Less: Accumulated Depreciation
418,610.00
2,186,130.00
Other Assets
105,310.00
Total Non-current Assets
2,291,440.00
TOTAL ASSETS
3,200,000.00
LIABILITIES AND EQUITY

Liabilities
Liabilities Current
327,900.00
Long-term Debt
Total Liabilities
1,777,900.00
Equit
yCommon Stock
1,000,000.00
Retained Earnings
1,022,100.00
Total Equity
2,022,100.00
TOTAL LIABILITIES AND EQUITY
3,200,000.00
850,000.00
Schedule 1
Sales Budget
UNITS
Laguna
Cavite
Sales Price
TOTAL
SALES
Zonrox
Bottle
75 ml
Zonrox
Bottle
250 ml
Zonrox
Bottle
500 ml
TOTAL
4000
3000
7000
200
6000
5000
11000
150
9000
6000
15000
100
19000
14000
33000
1400000
1650000
1500000
4550000
Schedule 2
Production Budget
Units to be
Add:
sold Ending
Inventory
Total
Less:
Beginning
Inventory
Production
Required
Zonrox
Bottle
75 ml
Zonrox
Bottle
250 ml
Zonrox
Bottle
500 ml
7000
11000
15000
250
200
400
7250
11200
15400
200
400
500
7050
10800
14900
Schedule 3
Direct Materials Budget in Units

Product
Production
Marlex
Evalene
Cosmothene
Zonrox Bottle
75ML
7050
84600
35250
14100
Zonrox Bottle
250ML
10800
86400
32400
10800
Zonrox Bottle
500ML
14900
89400
29800
14900
Production
requirement
260400
97450
39800
Add: Ending
Inventory
40000
12000
2500
Total
300400
109450
42300
Less: Beginning
Inventory
30000
10000
2000
Purchase
Requirement
270400
99450
40300
Schedule 4
Purchases Budget
Material
Required
Units
Unit Price
Total
Marlex
270400
270400
Evalene
99450
14
1392300
Cosmothene
40300
2.5
100750
Raw Materials
Purchases
1763450
Schedule 5
Cost of Materials Required for Production

Budget
Product
Production
Marlex
Evalene
Cosmothene
Zonrox Bottle
75ML
7050
84600
35250
14100
Zonrox Bottle
250ML
10800
86400
32400
10800
Zonrox Bottle
500ML
14900
89400
29800
14900
Production
requirement
260400
97450
39800
Unit Cost
14
2.5
Total Cost of
Materials
Required
260400
1364300
99500
Schedule 6
Direct Labor Budget

Products
Hours Blow
Molding
Zonrox Bottle
75ML
3525
17625
5640
Zonrox Bottle
250ML
4050
21600
5400
Zonrox Bottle
500ML
5587.5
26075
7450
Total Hours
13162.5
65300
18490
Rate
10
Amount
105300
653000
166410
Total Direct Labor Budget
Hours Injection Hours Extrusion

Molding
Molding
924710
Schedule 7
Cutting Department Budgeted

Machine Hours
Product
Production
Required
Hours
Total
Zonrox Bottle
75ML
7050
0.8
5640
Zonrox Bottle
250ML
10800
0.6
6480
Zonrox Bottle
500ML
14900
0.4
5960
Total Hours
18080
Schedule 8
Budgeted Factory Overhead and

Department Rates
Blow Molding
Indirect Materials
Indirect Labor
Payroll Taxes
Fixed
Cost
5957
25000
13,030
Variable
Cost
6328
9040
904
Fringe Benefits
14,333
14333
Depreciation
5000
5000
Total
12285
34040
13934
Small Tools
Repairs and Maintenance
2000
1808
3808
Allocated Building Costs
1000
1000
Allocated General Factory

Costs
6000
6000
Total
90400
Departmental Rates

Department Rates
Injection Molding
Indirect Materials
Indirect Labor
Payroll Taxes
Fixed
Cost
9949
25000
67800
Fringe Benefits
74580
Variable
Cost
32650
13060
1306
Total
42599
38060
69106
74580
Depreciation
Small Tools
2500
1500
16325
6530
18825
8030
1000
1000

Costs
9000
9000
Total
261200
Departmental Rates

Department Rates
Extrusion
Indirect Materials
Indirect Labor
Payroll Taxes
Fixed
Cost
6185
22000
56585
Variable
Cost
3698
18490
1849
Fringe Benefits
62244
62244
Depreciation
2000
2000
Small Tools
Total
9883
40490
58434
1500
1849
3349
1000
1000

Costs
7500
7500
Total
184900
Departmental Rates
10

Department Rates
OVERALL TOTAL
Indirect Materials
64,767
Indirect Labor
112,590
Payroll Taxes
141,474
Fringe Benefits
151,157
Depreciation
7,000
Small Tools
18,825
15,187

Costs
3,000
Total
22,500
536,500
Schedule 9
Budgeted Unit Product Cost

Diret Materials
Marlex
Evalene
Cosmothene
Rate
Units
1
14
2.5
12
5
2
Total
Zonrox
Bottle
75 ml
12
70
5
87
Direct Labor
Blow Molding
Injection Molding
Extrusion Molding
8
10
9
0.5
2.5
0.8
Total
4
25
7.2
36.2
Overhead
Blow Molding
Injection Molding
Extrusion Molding
Total
5
4
10
0.8
2.5
0.8
4
10
8
22

Diret Materials
Marlex
Evalene
Cosmothene
Rate
Units
1
14
2.5
8
3
1
Total
Zonrox
Bottle
250 ml
8
42
2.5
52.5
Direct Labor
Blow Molding
Injection Molding
Extrusion Molding
8
10
9
0.375
2
0.5
Total
3
20
4.5
27.5
Overhead
Blow Molding
Injection Molding
Extrusion Molding
5
4
10
0.6
2
0.5
3
8
5
Total
16
Unit Cost
96

Diret Materials
Marlex
Evalene
Cosmothene
Rate
Units
1
14
2.5
6
2
1
Total
Zonrox
Bottle
500 ml
6
28
2.5
36.5
Direct Labor
Blow Molding
Injection Molding
Extrusion Molding
8
10
9
0.375
1.75
0.5
Total
3
17.5
4.5
25
Overhead
Blow Molding
Injection Molding
Extrusion Molding
5
4
10
0.4
1.75
0.5
2
7
5
Total
14
Unit Cost
75.5
Schedule 10
Beginning and Ending Inventory Budget

Beginning Inventory
Product
Ending Inventory
Units
Cost
Total
Cost
Units
Cost
Total
Cost
200
140
28,000
250
145.2
36,300
400
95
38,000
200
96
19,200
500
75
37,500
400
75.5
30,200
103,50
0
850
Finished Goods
Zonrox Bottle
75ML
Zonrox Bottle
250ML
Zonrox Bottle
500ML
Total
1100
85,700
Raw Materials
Marlex
30000
30,000
40000
40,000
Evalene
10000
14
140,000
12000
14
168,000
Cosmothene
2000
2.5
5,000
2500
2.5
6,250
Total
42000
175,00
0
54500
Total
278,50
0
214,25
0
299,95
0
Schedule 11
Budgeted Cost of Goods Manufacturing and Sold Statement

Beginning Inventory
Direct Materials
Marlex
30,000
Evalene
140,000
Cosmothene
5,000
Purchases
Total
17,5000
1,763,45
0
1,938,45
0
Less: Ending Inventory

Marlex
40,000
Evalene
168,000
Cosmothene
6,250
Total Direct Material Cost
214,250
1,724,20
0
Direct Labor
924,710
Factory Overhead
536,500
Total Manufacturing Cost
3,185,41
0
Add: Beginning Work in Process

Inventory
Schedule 12
Budgeted Income Statement
Sales
4,550,000.00
Less: Cost of Sales
3,203,210.00
Gross Profit
1,346,790.00
Less: Marketing Expenses
356,790.00
Administrative Expenses
290,000.00
Net Operating Profit
700,000.00
Less: Provision for Income Taxes (30%)
210,000.00
Net Income After Tax
490,000.00
0
2013
2014
Sales
2015
Production
Profit
2016

Statement of Financial Positionsssaaaaaaa

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Statement of Financial Positionsssaaaaaaa

Uploaded by

Copyright:

Available Formats

Budget Plan

Statement of Financial Position

LIABILITIES AND EQUITY

Direct Materials Budget in Units

Cost of Materials Required for Production

Direct Labor Budget

Total Direct Labor Budget

Hours Injection Hours Extrusion

Cutting Department Budgeted

Budgeted Factory Overhead and

Allocated Building Costs

Allocated General Factory

Budgeted Factory Overhead and

Allocated Building Costs

Allocated General Factory

Budgeted Factory Overhead and

Repairs and Maintenance

Allocated Building Costs

Allocated General Factory

Budgeted Factory Overhead and

Repairs and Maintenance

Allocated Building Costs

Budgeted Unit Product Cost

Budgeted Unit Product Cost

Budgeted Unit Product Cost

Beginning and Ending Inventory Budget

Budgeted Cost of Goods Manufacturing and Sold Statement

Less: Ending Inventory

Total Direct Material Cost

Total Manufacturing Cost

Add: Beginning Work in Process

Budgeted Income Statement

You might also like