THE BUDGETS
Jessi corporation budgets
Sales budget
| Quarter | ||||
|
1 |
2 |
3 |
4 |
|
| Sales budgeted |
12,000 |
14,000 |
13,000 |
11,000 |
| selling price per unit |
18 |
18 |
18 |
18 |
| Total sales |
216,000 |
252,000 |
234,000 |
198,000 |
Production budget
| Account receivable, starting balance |
$70,200 |
|||
| 1st quarter |
140,400 |
64,800 |
||
| 2nd quarter |
163,800 |
75,600 |
||
| 3rd quarter |
151,100 |
70,200 |
||
| 4th quarter |
128,700 |
|||
| Total cash collections |
210,600 |
228,600 |
226,700 |
198,900 |
Direct materials budget
| Quarter | ||||
|
1 |
2 |
3 |
4 |
|
| Budgeted sales |
12,000 |
14,000 |
13,000 |
11,000 |
| Ending stock of finished goods |
2100 |
1950 |
1650 |
1850 |
| Total needs |
14100 |
15,950 |
14,650 |
12,850 |
| Less beginning stock of finished goods |
1650 |
2100 |
1950 |
1650 |
| Production that is required |
12,450 |
13,850 |
12,700 |
11,200 |
Direct materials budget
| Quarter | ||||
|
1 |
2 |
3 |
4 |
|
| Budgeted sales |
12,000 |
14,000 |
13,000 |
11,000 |
| Ending stock of finished goods |
2100 |
1950 |
1650 |
1850 |
| Total needs |
14100 |
15,950 |
14,650 |
12,850 |
| Less beginning stock of finished goods |
1650 |
2100 |
1950 |
1650 |
| Production that is required |
12,450 |
13,850 |
12,700 |
11,200 |
| Raw materials to be bought |
14,200 |
15,600 |
11,800 |
10,500 |
| Cost of raw materials per pound |
1 |
1 |
1 |
1 |
| Cost of raw materials to be purchased, |
19,880 |
21,840 |
16,520 |
14,700 |
Schedule of expected cash disbursement for materials
|
1 |
2 |
3 |
4 |
|
| Beginning balance of Accounts payable |
2,940 |
|||
| Purchases in first quarter |
15,904 |
3,976 |
||
| Purchases in second quarter |
17,472 |
4,368 |
||
| Purchases in third quarter |
13,216 |
3,304 |
||
| Purchases in fourth quarter |
11,760 |
|||
| Total cash disbursement |
18,844 |
21,448 |
17,584 |
15,064 |
Direct labor budget
| Quarter | ||||
|
1 |
2 |
3 |
4 |
|
| Required production |
7,000 |
8,000 |
6,000 |
5,000 |
| Direct labor hours per unit |
0.6 |
0.6 |
0.6 |
0.6 |
| Total direct labor hours |
4200 |
4,800 |
3,600 |
3,000 |
| Direct labor cost per hour |
14 |
14 |
14 |
14 |
| Total direct labor cost |
58,800 |
67,200 |
50,400 |
42,000 |
Direct labor budget
| Production required |
12,000 |
14 |
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