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    The document provides budget information for Presidio Manufacturing for January through March, including sales budgets, production budgets, direct materials budgets, cash payments budgets, and a combined cash budget. Key figures include total sales revenue of $333,600 for the period, a budgeted cost of goods sold of $229,350, and a net income projection of $41,307. The document also provides per unit manufacturing costs and quarterly budget summaries for April through June.

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    Eportfolio

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    54 views8 pages
    The document provides budget information for Presidio Manufacturing for January through March, including sales budgets, production budgets, direct materials budgets, cash payments budgets, and a combined cash budget. Key figures include total sales revenue of $333,600 for the period, a budgeted cost of goods sold of $229,350, and a net income projection of $41,307. The document also provides per unit manufacturing costs and quarterly budget summaries for April through June.

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    The document provides budget information for Presidio Manufacturing for January through March, including sales budgets, production budgets, direct materials budgets, cash payments budgets, and a combined cash budget. Key figures include total sales revenue of $333,600 for the period, a budgeted cost of goods sold of $229,350, and a net income projection of $41,307. The document also provides per unit manufacturing costs and quarterly budget summaries for April through June.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    54 views8 pages

    Eportfolio

    Uploaded by

    api-220792970
    The document provides budget information for Presidio Manufacturing for January through March, including sales budgets, production budgets, direct materials budgets, cash payments budgets, and a combined cash budget. Key figures include total sales revenue of $333,600 for the period, a budgeted cost of goods sold of $229,350, and a net income projection of $41,307. The document also provides per unit manufacturing costs and quarterly budget summaries for April through June.

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    You are on page 1of 8

    MANAGERIAL ACCOUNTING - Fourth Edition

    Solutions Manual

    PRESIDIO MANUFACTURING
    Master Budget

    Unit Sales
    Selling Price
    Total Sales Revenue

    Cash Sales
    Credit Sales
    Total Cash Collections

    Unit sales
    Plus: Desired ending Inventory
    Total Needed
    Less: Beginning Inventory
    Number of units to produce

    Chapter 9: The Master Budget

    Sales Budget
    January
    8300
    $12.00
    $99,600.00

    February
    9900
    $12.00
    $118,800.00

    9600
    $12.00
    $115,200.00

    Cash Collections Budget


    January
    $34,860.00
    $46,150.00

    February
    $41,580.00
    $64,740.00

    March
    $40,320.00
    $77,220.00

    $81,010.00

    $106,320.00

    $117,540.00

    Production Budget
    January
    8300
    990
    9290
    830
    8460

    February
    9900
    960
    10860
    990
    9870

    December
    5917
    $12.00
    $71,000.00

    March

    March
    9600
    900
    10500
    960
    9540

    Page 1 of 8

    MANAGERIAL ACCOUNTING - Fourth Edition

    Solutions Manual
    Direct Materials Budget
    January
    8460

    Units to be produced (from Production Budget


    Multiply by: Quantity (pounds) of DM needed per unit
    Quantity (pounds) needed for production
    Plus: Desired ending inventory of DM
    Total quantity (pounds) needed
    Less: Beginning inventory of DM
    Quantity (pounds) to purchase
    Multiply by: Cost per pound
    Total cost of DM purchases

    $
    $

    February
    9870

    3
    25380
    5922
    31302
    5076
    26226
    2 $
    52,452.00 $

    March
    9540

    3
    29610
    5724
    35334
    5922
    29412
    2 $
    58,824.00 $

    3
    28620
    5376
    33996
    5724
    28272
    2
    56,544.00

    Cash Payments for Direct Material Purchases Budget


    January
    February
    December Purchases from Accounts Payable
    $
    43,000.00
    January Purchases
    $
    10,490.40 $
    41,961.60
    February Purchases
    $
    11,764.80
    March Purchases

    $
    $

    47,059.20
    11,308.80

    Total Cash Payments

    53,726.40

    58,368.00

    Cash Payments for Direct Labor Budget


    January
    February
    $
    3,807.00 $
    4,442.00

    March
    4,293.00

    Total Cost of Direct Labor

    Chapter 9: The Master Budget

    53,490.40

    March

    Page 2 of 8

    MANAGERIAL ACCOUNTING - Fourth Edition

    Variable Manufacturing Overhead Costs


    Rent (Fixed)

    Solutions Manual

    Cash Payments for Manufacturing Overhead Budget


    January
    February
    $
    9,306.00 $
    10,857.00
    $
    5,500.00 $
    5,500.00
    $
    2,900.00 $
    2,900.00

    $
    $
    $

    March
    10,494.00
    5,500.00
    2,900.00

    19,257.00

    18,894.00

    Cash Payments for Operating Expenses Budget


    January
    February
    $
    10,375.00 $
    12,375.00
    $
    1,800.00 $
    1,800.00
    $
    12,175.00 $
    14,175.00

    $
    $
    $

    March
    12,000.00
    1,800.00
    13,800.00

    $
    $
    $

    March
    4,951.20
    117,540.00
    122,491.20

    $
    $
    $
    $

    58,368.00
    4,293.00
    18,894.00
    13,800.00

    $
    $
    $

    16,600.00
    111,955.00
    10,536.20

    Other fixed MOH


    Cash Payments for Manufacturing Overhead

    Variable Operating Expenses


    Fixed Operating Expenses
    Cash Payments for Operating Expenses

    Beginning Cash Balance


    Plus: Cash Collections
    Total Cash Available
    Less Cash Payments:
    Direct Material Purchases
    Direct Labor
    Manufacturing Overhead Costs
    Operating Expenses
    Tax Payment
    Equipment Purchases
    Total Cash Payments
    Ending Cash Balance Before Financing
    Financing:
    Plus: New borrowings
    Less: Debt repayments
    Less Interest Payments
    Total Financing
    Ending Cash Balance
    Chapter 9: The Master Budget

    17,706.00

    Combined Cash Budget


    January
    $
    4,600.00
    $
    81,010.00
    $
    85,610.00

    $
    $
    $

    February
    4,431.60
    106,320.00
    110,751.60

    $
    $
    $
    $
    $
    $
    $
    $

    53,490.40
    3,807.00
    17,706.00
    12,175.00
    5,000.00
    92,178.40
    (6,568.40)

    $
    $
    $
    $
    $
    $
    $
    $

    53,726.40
    4,442.00
    19,257.00
    14,175.00
    10,000.00
    12,200.00
    113,800.40
    (3,048.80)

    $
    $
    $

    11,000.00
    -

    $
    $
    $

    8,000.00
    -

    $
    $
    $

    6,000.00
    490.00

    $
    $

    11,000.00
    4,431.60

    $
    $

    8,000.00
    4,951.20

    $
    $

    6,490.00
    4,046.20
    Page 3 of 8

    MANAGERIAL ACCOUNTING - Fourth Edition

    Solutions Manual

    Budgeted Manufacturing Cost per Unit


    Direct Materials Cost Per Unit
    Direct Labor Cost Per Unit
    Variable Manufacturing Overhead Costs Per Unit
    Fixed Manufacturing Overhead Costs Per Unit
    Budgeted Cost of Manufacturing One Unit

    Budgeted Income Statement


    Sales Revenue
    Less:Cost of Goods Sold
    Gross Profit
    Less: Operating Expenses
    Less: Depreciation Expense
    Operating Income
    Less: Interest Expense
    Less: Income Tax Expense
    Net Income

    Chapter 9: The Master Budget

    $333,600.00
    229,350.00
    $104,250.00
    $
    40,150.00
    4600
    $59,500.00
    $
    490.00
    17,703.00
    $

    $41,307.00

    Page 4 of 8

    MANAGERIAL ACCOUNTING - Fourth Edition

    April
    9000
    $12.00
    $108,000.00 $

    Solutions Manual

    May
    8600
    12.00
    103,200.00

    Quarter
    $37,800.00
    $74,880.00
    $112,680.00

    Quarter
    27800
    900
    28700
    830
    27870

    Chapter 9: The Master Budget

    Page 5 of 8

    MANAGERIAL ACCOUNTING - Fourth Edition

    Solutions Manual

    Quarter
    27870

    $
    $

    3
    83610
    5376
    88986
    5076
    83910
    2
    167,820.00

    $
    $
    $
    $

    Quarter
    43,000.00
    52,452.00
    58,824.00
    11,308.80

    165,584.80

    Quarter
    12,542.00

    Chapter 9: The Master Budget

    Page 6 of 8

    MANAGERIAL ACCOUNTING - Fourth Edition

    $
    $
    $

    Quarter
    30,657.00
    16,500.00
    8,700.00

    55,857.00

    $
    $
    $

    Quarter
    34,750.00
    5,400.00
    40,150.00

    $
    $
    $

    Quarter
    4,600.00
    304,870.00
    309,470.00

    $
    $
    $
    $
    $
    $
    $
    $

    165,584.80
    12,542.00
    55,857.00
    40,150.00
    10,000.00
    33,800.00
    317,933.80
    (8,463.80)

    $
    $
    $

    19,000.00
    6,000.00
    490.00

    $
    $

    12,510.00
    4,046.20

    Chapter 9: The Master Budget

    Solutions Manual

    Page 7 of 8

    MANAGERIAL ACCOUNTING - Fourth Edition

    $
    $
    $
    $
    $

    Solutions Manual

    6.00
    0.45
    1.10
    0.70
    8.25

    Chapter 9: The Master Budget

    Page 8 of 8

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