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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