Scribd Logo
Upload

Welcome to Scribd!

  • 129 views

    Managerial Accounting - Fourth Edition Solutions Manual: Wasatch Manufacturing Master Budget

    Uploaded by

    api-283953708
    The document presents Wasatch Manufacturing's master budget for the first quarter. It includes budgets for sales, production, direct materials purchases, direct labor costs, manufacturing overhead costs, operating expenses, and cash. The master budget shows projected income and cash flows for January, February, March and the quarter. It also calculates a budgeted cost per unit and income statement for the quarter.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Managerial Accounting - Fourth Edition Solutions Manual: Wasatch Manufacturing Master Budget

    Uploaded by

    api-283953708
    129 views12 pages
    The document presents Wasatch Manufacturing's master budget for the first quarter. It includes budgets for sales, production, direct materials purchases, direct labor costs, manufacturing overhead costs, operating expenses, and cash. The master budget shows projected income and cash flows for January, February, March and the quarter. It also calculates a budgeted cost per unit and income statement for the quarter.

    Original Title

    acct 2020 excel budget problem

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document presents Wasatch Manufacturing's master budget for the first quarter. It includes budgets for sales, production, direct materials purchases, direct labor costs, manufacturing overhead costs, operating expenses, and cash. The master budget shows projected income and cash flows for January, February, March and the quarter. It also calculates a budgeted cost per unit and income statement for the quarter.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    129 views12 pages

    Managerial Accounting - Fourth Edition Solutions Manual: Wasatch Manufacturing Master Budget

    Uploaded by

    api-283953708
    The document presents Wasatch Manufacturing's master budget for the first quarter. It includes budgets for sales, production, direct materials purchases, direct labor costs, manufacturing overhead costs, operating expenses, and cash. The master budget shows projected income and cash flows for January, February, March and the quarter. It also calculates a budgeted cost per unit and income statement for the quarter.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    You are on page 1of 12

    MANAGERIAL ACCOUNTING - Fourth Edition

    Solutions Manual
    WASATCH MANUFACTURING
    MASTER BUDGET

    UNIT SALES
    PRICE PER UNIT

    December
    8444
    $
    9 $

    SALES REVENUE

    CASH SALES (25%)


    CREDIT SALES (75%)
    TOTAL CASH COLLECTIONS

    UNIT SALES
    PLUS: DESIRED ENDING INV
    TOTAL NEEDED
    LESS: BEGINNING INV
    UNITS TO PRODUCE

    Chapter 9: The Master Budget

    76,000 $

    SALES BUDGET
    January
    February
    8900
    9900
    9 $
    9 $

    April
    9200
    9 $

    9500
    9

    89,100 $

    82,800 $

    85,500

    CASH COLLECTIONS BUDGET


    January
    February
    $
    20,025 $
    22,275 $
    $
    57,000 $
    60,075 $

    March
    20,700 $
    66,825 $

    Quarter
    63,000
    183,900

    87,525 $

    246,900

    80,100 $

    March

    77,025 $

    82,350 $

    PRODUCTION BUDGET
    January
    February
    8900
    9900
    1485
    1380
    10385
    11280
    1444
    1485
    8941
    9795

    March
    9200
    1425
    10625
    1380
    9245

    Quarter
    28000
    4290
    32290
    4309
    27981

    Page 1 of 12

    MANAGERIAL ACCOUNTING - Fourth Edition

    Solutions Manual

    DIRECT MATERIALS BUDGET


    January
    February
    8941
    9795

    UNITS TO BE PRODUCED
    MULTIPLY BY: QTY OR DM NEEDED PER UNIT
    (LBS)

    March
    9245

    Quarter
    27981

    QTY OF DM NEEDED FOR PRODUCTION (LBS)

    17881

    19590

    18490

    55961

    PLUS: DESIRED ENDING INV OF DM (LBS)


    TOTAL QTY OF DM NEEDED (LBS)
    LESS: BEGINNING IN OF DM (LBS)
    QTY OF DM TO PURCHASE (LBS)
    MULTIPLY BY: COST PER POUND

    1959
    19840
    1788
    18052
    1.50 $

    1849
    21439
    1959
    19480
    1.50 $

    5596
    24086
    1849
    22237
    1.50 $

    9404
    65365
    5596
    59769
    1.50

    TOTAL COST OF DM PURCHASES

    27,078 $

    29,220 $

    33,356 $

    CASH PAYMENTS FOR DIRECT MATERIAL PURCHASES BUDGET


    January
    February
    March
    DECEMBER PURCHASES (FROM A/P)
    $
    22,000 $
    - $
    JANUARY PURCHASES
    $
    8,123 $
    18,955 $
    FEBRUARY PURCHASES
    $
    - $
    8,766 $
    20,454
    MARCH PURCHASES
    $
    - $
    - $
    10,007
    TOTAL CASH PAYMENTS

    UNITS PRODUCED
    MULTIPLY BY: HOURS PER UNIT
    DIRECT LABOR HOURS

    30,123 $

    27,721 $

    CASH PAYMENTS FOR DIRECT LABOR BUDGET


    January
    February
    8941
    9795
    0.03
    0.03
    268.22
    293.85

    89,654

    $
    $
    $
    $

    Quarter
    22,000
    27,078
    29,220
    10,007

    30,461 $

    88,305

    March
    9245
    0.03
    277.35

    Quarter
    27981
    0.03
    839.42

    MULTIPLY BY: DIRECT LABOR RATE PER HOUR

    13 $

    13 $

    13 $

    13

    DIRECT LABOR COST

    3,487 $

    3,820 $

    3,606 $

    10,912

    Chapter 9: The Master Budget

    Page 2 of 12

    MANAGERIAL ACCOUNTING - Fourth Edition

    Chapter 9: The Master Budget

    Solutions Manual

    Page 3 of 12

    MANAGERIAL ACCOUNTING - Fourth Edition

    RENT (FIXED)

    Solutions Manual

    CASH PAYMENTS FOR MANUFACTURING OVERHEAD BUDGET


    January
    February
    March
    $
    6,500 $
    6,500 $
    6,500 $

    Quarter
    19,500

    OTHER MANUFACTURING OVERHEAD (FIXED)

    2,100 $

    2,100 $

    2,100 $

    6,300

    VARIABLE MANUFACTURING OVERHEAD COSTS

    12,517 $

    13,713 $

    12,943 $

    39,173

    CASH PAYMENTS FOR MANUFACTURING


    OVERHEAD

    21,117 $

    22,313 $

    21,543 $

    64,973

    CASH PAYMENTS FOR OPERATING EXPENSES BUDGET


    January
    February
    March
    VARIABLE OPERATING EXPENSES
    $
    10,680 $
    11,880 $
    11,040 $
    FIXED OPERATING EXPENSES
    $
    1,400 $
    1,400 $
    1,400 $

    Quarter
    33,600
    4,200

    CASH PAYMENTS FOR OPERATING EXPENSES

    CASH BALANCE, BEGINNING

    12,080 $

    13,280 $

    12,440 $

    37,800

    COMBINED CASH BUDGET


    January
    February
    $
    6,000 $
    5,218 $

    March
    4,634 $

    Quarter
    6,000

    PLUS: CASH COLLECTIONS

    77,025 $

    82,350 $

    87,525 $

    246,900

    TOTAL CASH AVAILABLE


    LESS CASH PAYMENTS:
    DM PURCHASES
    DIRECT LABOR

    83,025 $

    87,568 $

    92,159 $

    252,900

    $
    $

    30,123 $
    3,487 $

    27,721 $
    3,820 $

    30,461 $
    3,606 $

    88,305
    10,912

    $
    $
    $
    $

    21,117
    12,080
    15,000

    22,313
    13,280
    10,800
    6,000

    21,543
    12,440
    4,000

    $
    $
    $
    $

    64,973
    37,800
    10,800
    25,000

    81,807 $

    72,049 $

    237,790

    MANUFACTURING OVERHEAD COSTS


    OPERATING EXPENSES
    TAX PAYMENT
    EQUIPMENT PURCHASES
    TOTAL CASH PAYMENTS

    Chapter 9: The Master Budget

    $
    $
    $
    $

    $
    $
    $
    $

    83,934 $

    Page 4 of 12

    MANAGERIAL ACCOUNTING - Fourth Edition

    Solutions Manual

    ENDING CASH BEFORE FINANCING


    FINANCING:
    BORROWINGS
    REPAYMENTS
    INTEREST PAYMENTS

    1,218 $

    3,634 $

    20,110 $

    15,110

    $
    $
    $

    4,000 $
    - $
    - $

    1,000 $
    - $
    - $

    - $
    (5,000) $
    (135) $

    5,000
    (5,000)
    (135)

    CASH BALANCE, ENDING

    5,218 $

    4,634 $

    14,975 $

    14,975

    Chapter 9: The Master Budget

    Page 5 of 12

    MANAGERIAL ACCOUNTING - Fourth Edition

    BUDGETED MANUFACTURING COST PER UNIT


    DIRECT MATERIALS COST PER UNIT
    DIRECT LABOR COST PER UNIT
    VARIABLE MANUFACTURING COSTS PER UNIT
    FIXED MANUFACTURING OVERHEAD PER UNIT
    COST OF MANUFACTURING EACH UNIT

    Solutions Manual

    $
    $
    $
    $
    $

    3.20
    0.39
    1.40
    0.60
    5.59

    BUDGETED INCOME STATEMENT FOR THE QUARTER ENDED MARCH 31


    SALES REVENUE
    $
    246,900
    LESS: COST OF GOODS SOLD
    $
    164,190
    GROSS PROFIT
    $
    82,710
    LESS: OPERATING EXPENSES
    $
    37,800
    LESS: DEPRECIATION EXPENSES
    $
    5,200
    OPERATING INCOME
    $
    39,710
    LESS: INTEREST EXPENSE
    $
    (135)
    LESS: INCOME TAX EXPENSE
    $
    11,119
    NET INCOME
    $
    28,726

    Chapter 9: The Master Budget

    Page 6 of 12

    MANAGERIAL ACCOUNTING - Fourth Edition

    Solutions Manual

    May
    $
    $

    8600
    9
    77,400

    Chapter 9: The Master Budget

    Page 7 of 12

    MANAGERIAL ACCOUNTING - Fourth Edition

    Chapter 9: The Master Budget

    Solutions Manual

    Page 8 of 12

    MANAGERIAL ACCOUNTING - Fourth Edition

    Chapter 9: The Master Budget

    Solutions Manual

    Page 9 of 12

    MANAGERIAL ACCOUNTING - Fourth Edition

    Chapter 9: The Master Budget

    Solutions Manual

    Page 10 of 12

    MANAGERIAL ACCOUNTING - Fourth Edition

    Chapter 9: The Master Budget

    Solutions Manual

    Page 11 of 12

    MANAGERIAL ACCOUNTING - Fourth Edition

    Chapter 9: The Master Budget

    Solutions Manual

    Page 12 of 12

    You might also like