Budget Cotchie
Budget Cotchie
Budget Cotchie
Estimated Overhead:
Variable:
Indiret Materials and supplies 5.846153846 per unit produced
Materials handling/unit 9.076923077
Other indirect labor/unit 5.076923077
Fixed:
Supervisor labor 175,000.00
Maintenance and repair 85,000.00
Plant administration 173,000.00
Utilities 87,000.00
Depreciation 280,000.00
Insurance 43,000.00
Property Taxes 117,000.00
Other 41,000.00
Marketing & Admin. Expenses
Variable marketing cost:
Sales commission 40.625
Other Marketing costs 16.25
Sched 7
Taxes other than income 160,000.00 LT debt 659,000.00
Interest 52,000.00 Int. per annum. 0.08
Taxes other than Income 108,000.00 interest expense 52,720.00
Sched 8
Material purchases 1,680,700.00
Increase in Accounts Payable 110,000.00
Payments for Mat. Purchases 1,570,700.00
Materials
R S
Units Required for production
R 28,020
S 46,700
Desired ending inventory 1,400 4,600
Total units required 29420 51,300
Beginning inventory 3250 4,000
Units to be purchased 26,170 47,300
Unit Price 10 30
Total Purchases 261,700 1,419,000
Direct Labor Budget
For 2019
Sales 7,392,000.00
Cost of sales 4,182,640.00
Gross profit 3,209,360.00
Marketing and administrative costs 1,661,525.00
Net operating profit 1,547,835.00
Interest expense 52,720.00
Net income before taxes 1,495,115.00
provision for income taxes 523,290.25
Net income after taxes 971,824.75
Macaraeg Manufacturing Com
Budgeted Statement of Financial P
December 31, 2019
Assets
Current assets
Cash 867,615.00
Accounts Receivable 662,000.00
Inventories 652,000.00
Other current assets 23,000.00
Total current assets 2,204,615.00
Long-term assets
Property, Plant and Equipment 2,495,000.00
Accumulated Depreciation 949,000.00
Net 1,546,000.00
Liabilities
Current Liabilities
Accounts Payable 260,500.00
Taxes Payable 427,290.25
Current portion of long term debt
Total current liabilities 687,790.25
Long-term liabilities 576,000.00
Total Liabilities 1,263,790.25
Equity