Stracoma Test

=
-1920
Sales 64 66 62 62
Units to be sold
Desired ending inventory
Total
Beginning balance
Units to produce
Units required for production

Desired ending inventory
Total units required
Beginning inventory
Units to be purchased
Unit price 2.50
Total purchases
Units to be produced
Direct Labor hours per unit produced
Total direct labor hours needed
Direct labor cost per unit
Total budgeted direct labor cost
Variable manufacturing overhead: units to be produced

Indirect labor 0.1
Indirect material 2
Utilities 0.5
Maintenance 0.3
Total
Fixed manufacturing overhead
Insurance ###
Rent 6500
Utilities 500
Maintenance 300
Depreciation ###
Total
Total Manufacturing overhead
Beginning work in process inventory

Manufacturing costs
Direct materials
Beginning inventory
Purchases
Purchase discounts
Net purchases
Cost of goods available for use
Ending inventory
Total direct materials cost
Direct labor
Manufacturing overhead
Manufacturing costs
Ending work in process inventory
Cost of goods manufactured
Beginning finished goods inventory
Total goods available for sale
Ending finished goods inventory
Cost of sales
Variable selling and administrative expenses

Commission
Fixed selling and administrative expenses
Admin salaries 0
Office rent
Advertising
Uncollectible accounts
Total selling and administrative expenses
Sales
Sales discount
Net sales
Cost of sales
Gross margin
Selling and administrative expenses
Net operating profit
Provision for income tax
Net income after taxes
20000 3rd quarter 2019

24800 4th quarter 2019
20480 1087200 1st quarter 2020
23232 1178880 2nd quarter 2020
24006 1257856 3rd quarter 2020
26407 1384857.6 4th quarter 2020
88512 1296345.6 Total
165000 3rd quarter 2019

4th quarter 2019
235665 1st quarter 2020
244899 2nd quarter 2020
268985.25 3rd quarter 2020
289567.5 4th quarter 2020
Total
Factory Overhead
Total
Beginning cash balance

Estimated cash receipts
Collections from customers
Total cash available
Estimated disbursements
Materials purchases
Direct labor
Payments for income tax
Purchase of assets
Dividends
Total disbursements
Ending cash balance
Current Assets
Cash
Accounts Receivable
Inventory
Raw materials (14850 units)
Finished goods (5000 units)
Total current assets
Non-current Assets
Property, Plant, and Equipment
Accumulated depreciation
Total assets
Current liabilities
Accounts Payable
Taxes Payable
Dividends Payable
Total current liabilities
Stockholders equity
Common stock (100000 shares)
Retained earnings
Total stockholders equity
Total liabilities and equity
Current Assets
Cash
Accounts Receivable
Carrying amount
Inventory
Raw materials
Finished goods (5000 units)
Non-current Assets
Property, Plant, and Equipment
Accumulated depreciation
Book value
Total assets
Current liabilities
Accounts Payable
Taxes Payable
Dividends Payable
Stockholders equity
Retained earnings

1st 2nd 3rd 4th 2021 Total
40,000 44,000 48,400 53,240 185,640
2,560,000 2,904,000 3,000,800 3,300,880 11,765,680
40,000 44,000 48,400 53,240 50,000 185,640

4,400 4,840 5,324 5,000 4500 5,000
44,400 48,840 53,724 58,240 54,500 190,640
4,000 4,400 4,840 5,324 5,000 4,000
40,400 44,440 48,884 52,916 49,500 186,640
121,200 133,320 146,652 158,748 148,500 559,920

13,332 14,665 15,875 14,850 58,722
134,532 147,985 162,527 173,598 618,642
12,000 13,332 14,665 15,875 55,872
122,532 134,653 147,862 157,723 562,770
2.50 2.50 2.50 2.50 3
306,330 336,633 369,654 394,308 1,406,925
40,400 44,440 48,884 52,916 186,640

5 5 5 5 20
202,000 222,200 244,420 264,580 933,200
4 4 4 4 16
808,000 888,800 977,680 1,058,320 3,732,800
40,400 44,440 48,884 52,916 186,640

4,040 4,444 4,888 5,292 18,664
80,800 88,880 97,768 105,832 373,280
20,200 22,220 24,442 26,458 93,320
12,120 13,332 14,665 15,875 55,992
117,160 128,876 141,764 153,456 541,256
48,000 0 0 0 48,000
19,500 19,500 19,500 19,500 78,000
500 500 500 500 2,000
300 300 300 300 1,200
0 0 0 42,000 42,000
68,300 20,300 20,300 62,300 171,200
185,460 149,176 162,064 215,756 712,456
0 0 0 0
30,000 33,330 36,663 39,687 30,000
306,330 336,633 369,654 394,308 1,406,925
7,658 8,416 9,241 9,858 35,173
298,672 328,217 360,413 384,450 1,371,752
328,672 361,547 397,076 424,137 1,436,925
33,330 36,663 39,687 37,125 37,125
295,342 324,884 357,389 387,012 1,399,800
808,000 888,800 977,680 1,058,320 3,732,800
185,460 149,176 162,064 215,756 712,456
1,288,802 1,362,860 1,497,132 1,661,089 5,845,056
0 0 0 0 0
1,288,802 1,362,860 1,497,132 1,661,089 5,845,056
140,000 154,000 169,400 186,340 140,000
1,428,802 1,516,860 1,666,532 1,847,429 5,985,056
154,000 169,400 186,340 175,000 175,000
1,274,802 1,347,460 1,480,192 1,672,429 5,774,883
128,000 145,200 150,040 165,044 588,284
100,000 100,000 100,000 100,000 400,000

15,000 15,000 15,000 15,000 60,000
65,000 0 0 0 65,000
240 -784 1,131
308,240 259,416 265,040 280,044 1,114,415
2,560,000 2,904,000 3,000,800 3,300,880 11,765,680

24,576 27,878 28,808 31,688 112,951
2,535,424 2,876,122 2,971,992 3,269,192 11,652,729
1,274,802 1,347,460 1,480,192 1,672,429 5,774,883
1,260,622 1,528,661 1,491,800 1,596,763 5,877,847
308,240 259,416 265,040 280,044 1,112,740
952,382 1,269,245 1,226,760 1,316,719 4,765,107
285,715 380,774 368,028 395,016 1,429,532
666,668 888,472 858,732 921,703 3,335,575
1st 2nd 3rd 4th Total

180,000 0 0 0 180,000
744,000 223,200 0 0 967,200
1,716,224 614,400 184,320 0 2,514,944
0 1,946,842 696,960 209,088 2,852,890
0 0 2,011,736 720,192 2,731,928
0 0 0 2,212,910 2,212,910
2,640,224 2,784,442 2,893,016 3,142,190 11,459,872

75,000 0 0 0 75,000
82,500 82,500 0 0 165,000
145,507 76,583 76,583 0 298,672
0 159,901 84,158 84,158 328,217
0 0 175,586 92,414 267,999
0 0 0 187,296 187,296
303,007 318,983 336,326 363,868 1,322,184
185,460 149,176 162,064 173,756 670,456

308,240 259,416 265,040 280,044 1,112,740
3,105,380
18,000 1,040,557 1,607,840 2,759,746 18,000
2,640,224 2,784,442 2,893,016 3,142,190 11,459,872

2,658,224 3,824,999 4,500,856 5,901,936 11,477,872
303,007 318,983 336,326 363,868 1,322,184

808,000 888,800 977,680 1,058,320 3,732,800
185,460 149,176 162,064 173,756 670,456
308,000 260,200 265,040 280,044 1,114,415
13,200 0 0 0 13,200
0 100,000 0 0 100,000
0 500,000 0 0 500,000
1,617,667 2,217,159 1,741,110 1,875,988 7,453,055
1,040,557 1,607,840 2,759,746 4,025,947 4,024,816
4,024,816 0
1,319,877
23,531 1,296,345
37,125
175,000 212,125
5,533,287
420,000
106,000 314,000
5,847,287
289,568
1,429,532
1,500,000
3,219,099
500,000
2,195,975
2,695,975
5,915,074
Discrepancy 67,787
1,040,557 1,607,840 2,759,746 4,025,947

1,087,200 1,178,880
22,640 21,856
1,064,560 1,157,024 0 0
33,330 36,663 39,687 37,125

154,000 169,400 186,340 175,000
2,292,447 2,970,927 2,985,773 4,238,072
320,000 420,000
64,000 64,000
256,000 356,000 0 0
2,548,447 3,326,927 2,985,773 4,238,072
235,665 244,899
285,715 380,774 368,028 395,016
500,000 0
1,021,380 625,673 368,028 395,016
500,000 500,000 500,000 500,000

1,027,068 1,915,539 1,219,132 1,282,103
1,527,068 2,415,539 1,719,132 1,782,103
2,548,447 3,041,212 2,087,160 2,177,119

Uncollectible Discount Total Cash 60 percent
20480 24576 2560000 512000 1204224

23232 27878.4 2904000 580800 1366041.6
24006.4 28807.68 3024806.4 600160 1411576.32
26407.04 31688.448 3327287 660176 1552733.95
50413.44
Discount Grand Ap
7658.25 306330 0
8415.825 336633 0
9241.35 369654 92413.5
9857.7 394308 197154
289567.5
1st 2nd 3rd

Beginning cash balance 18,000
Collections from customers 2,640,224
Total cash available 2,658,224
Materials purchases 303,007
Direct labor
Payments for income tax
Purchase of assets
Dividends
Total disbursements
Ending cash balance
Add Account receiAccount receivable
1716224 0 0
1946841.6 0 0
2011736.32 240064 240064
2212909.95 1056281.6 1056281.6
1296345.6 1296345.6
4th
1067200
1134080
1192576
1296345.6
235665
244899
268985.25
289567.5
1st
40,000.00
Sales 64 66 62 62 2,560,000.00
Units to be sold 40,000.00

Desired ending inventory 4,400.00
Total 44,400.00
Beginning balance 4,000.00
Units to produce 40,400.00
Units required for production 121,200.00

Total units required 134,532.00
Beginning inventory 12,000.00
Units to be purchased 122,532.00
Unit price 2.50
Total purchases 306,330.00
Units to be produced 40,400.00

Direct Labor hours per unit produced 5.00
Total direct labor hours needed 202,000.00
Direct labor cost per unit 4.00
Total budgeted direct labor cost 808,000.00
Variable manufacturing overhead: units to be produced 40,400.00

Indirect labor 4x0.02 4,040.00
Indirect material 2 80,800.00
Utilities 0.5 20,200.00
Maintenance 0.3 12,120.00
Total 117,160.00
Insurance 48,000.00
Rent 19,500.00
Utilities 500.00
Maintenance 300.00
Depreciation 0.00
Total 68,300.00
Total Manufacturing overhead 185,460.00
Beginning work in process inventory 0.00
Manufacturing costs
Direct materials
Purchases 306,330.00
Purchase discounts 7,658.25
Net purchases 298,671.75
Cost of goods available for use 328,671.75
Ending inventory 33,330.00
Total direct materials cost 295,341.75
Direct labor 808,000.00
Manufacturing overhead 185,460.00
Manufacturing costs 1,288,801.75
Ending work in process inventory 0.00
Cost of goods manufactured 1,288,801.75
Beginning finished goods inventory 140,000.00
Total goods available for sale 1,428,801.75
Ending finished goods inventory 154,000.00
Cost of sales 1,274,801.75

Commission 128,000.00
Admin salaries 100,000.00
Office rent 15,000.00
Advertising 65,000.00
Uncollectible accounts 20,240.00
Total selling and administrative expenses 328,240.00
Sales 2,560,000.00
Sales discount 24,576.00
Net sales 2,535,424.00
Gross margin 1,260,622.25
Selling and administrative expenses 328,240.00
Net operating profit 932,382.25
Provision for income tax 279,714.68
Net income after taxes 652,667.58
1st
3rd quarter 2019 180,000.00
4th quarter 2019 744,000.00
1st quarter 2020 1,716,224.00
2nd quarter 2020 0.00
3rd quarter 2020 0.00
4th quarter 2020 0.00
Total 2,640,224.00
1st
3rd quarter 2019 75,000.00
4th quarter 2019 82,500.00
1st quarter 2020 145,506.75
Total 303,006.75
Factory Overhead 185,460.00
Total 816,706.75
Beginning cash balance 18,000.00

Collections from customers 2,640,224.00
Total cash available 2,658,224.00
Materials purchases 303,006.75
Payments for income tax 13,200.00
Purchase of assets 0.00
Dividends 0.00
Total disbursements 1,617,666.75
Ending cash balance 1,040,557.25
Current Assets
Cash 1,040,557.25
Accounts Receivable 1,067,200.00
Carrying amount 1,044,560.00
Inventory
Raw materials (14850 units) 33,330.00
Finished goods (5000 units) 154,000.00
Total current assets 2,272,447.25
Non-current Assets
Property, Plant, and Equipment 320,000.00
Accumulated depreciation 64,000.00
Book value 256,000.00
Total assets 2,528,447.25
Current liabilities
Accounts Payable 235,665.00
Taxes Payable 279,714.68
Dividends Payable 500,000.00
Total current liabilities 1,015,379.68
Stockholders equity
Common stock (100000 shares) 500,000.00
Retained earnings 1,013,067.58
Total stockholders equity 1,513,067.58
Total liabilities and equity 2,528,447.25
0
2nd 3rd 4th 2021 Total
44,000.00 48,400.00 53,240.00 185,640.00
2,904,000.00 3,000,800.00 3,300,880.00 11,765,680.00
44,000.00 48,400.00 53,240.00 50,000.00 185,640.00

4,840.00 5,324.00 5,000.00 4,500.00 5,000.00
48,840.00 53,724.00 58,240.00 54,500.00 205,204.00
4,400.00 4,840.00 5,324.00 5,000.00 4,000.00
44,440.00 48,884.00 52,916.00 49,500.00 186,640.00
133,320.00 146,652.00 158,748.00 148,500.00 559,920.00

14,665.20 15,874.80 14,850.00 14,850.00
147,985.20 162,526.80 173,598.00 574,770.00
13,332.00 14,665.20 15,874.80 12,000.00
134,653.20 147,861.60 157,723.20 562,770.00
2.50 2.50 2.50 2.50
336,633.00 369,654.00 394,308.00 1,406,925.00
44,440.00 48,884.00 52,916.00 186,640.00

5.00 5.00 5.00 5.00
222,200.00 244,420.00 264,580.00 933,200.00
4.00 4.00 4.00 4.00
888,800.00 977,680.00 1,058,320.00 3,732,800.00
44,440.00 48,884.00 52,916.00 186,640.00

4,444.00 4,888.40 5,291.60 18,664.00
88,880.00 97,768.00 105,832.00 373,280.00
22,220.00 24,442.00 26,458.00 93,320.00
13,332.00 14,665.20 15,874.80 55,992.00
128,876.00 141,763.60 153,456.40 541,256.00
0.00 0.00 0.00 48,000.00

19,500.00 19,500.00 19,500.00 78,000.00
500.00 500.00 500.00 2,000.00
300.00 300.00 300.00 1,200.00
0.00 0.00 42,000.00 42,000.00
20,300.00 20,300.00 62,300.00 171,200.00
149,176.00 162,063.60 215,756.40 712,456.00
0.00 0.00 0.00 0.00
33,330.00 36,663.00 39,687.00 30,000.00
336,633.00 369,654.00 394,308.00 1,406,925.00
8,415.83 9,241.35 9,857.70 35,173.13
328,217.18 360,412.65 384,450.30 1,371,751.88
361,547.18 397,075.65 424,137.30 1,401,751.88
36,663.00 39,687.00 37,125.00 37,125.00
324,884.18 357,388.65 387,012.30 1,364,626.88
888,800.00 977,680.00 1,058,320.00 3,732,800.00
149,176.00 162,063.60 215,756.40 712,456.00
1,362,860.18 1,497,132.25 1,661,088.70 5,809,882.88
0.00 0.00 0.00 0.00
1,362,860.18 1,497,132.25 1,661,088.70 5,809,882.88
154,000.00 169,400.00 186,340.00 140,000.00
1,516,860.18 1,666,532.25 1,847,428.70 5,949,882.88
169,400.00 186,340.00 175,000.00 175,000.00
1,347,460.18 1,480,192.25 1,672,428.70 5,774,882.88
145,200.00 150,040.00 165,044.00 588,284.00
100,000.00 100,000.00 100,000.00 400,000.00

15,000.00 15,000.00 15,000.00 60,000.00
0.00 0.00 0.00 65,000.00
24,016.00 22,243.00 24,819.50 91,318.50
284,216.00 287,283.00 304,863.50 1,204,602.50
2,904,000.00 3,000,800.00 3,300,880.00 11,765,680.00
27,878.40 28,807.68 31,688.45 112,950.53
2,876,121.60 2,971,992.32 3,269,191.55 11,652,729.47

1,347,460.18 1,480,192.25 1,672,428.70 5,774,882.88
1,528,661.43 1,491,800.07 1,596,762.85 5,877,846.60
284,216.00 287,283.00 304,863.50 1,204,602.50
1,244,445.43 1,204,517.07 1,291,899.35 4,673,244.10
373,333.63 361,355.12 387,569.81 1,401,973.23
871,111.80 843,161.95 904,329.55 3,271,270.87
2nd 3rd 4th Total uncollectible

0.00 0.00 0.00 20,000
223,200.00 0.00 0.00 24,800
614,400.00 184,320.00 0.00 2,514,944.00 20,480
1,946,841.60 696,960.00 209,088.00 2,852,889.60 23,232
0.00 2,011,736.32 720,192.00 2,731,928.32 24,006
0.00 0.00 2,212,909.95 2,212,909.95 26,407
2,784,441.60 2,893,016.32 3,142,189.95 11,459,871.87
2nd 3rd 4th Total Discount

0.00 0.00 0.00
82,500.00 0.00 0.00
76,582.50 76,582.50 0.00 298,671.75 7,658
159,900.68 84,158.25 84,158.25 328,217.18 8,416
0.00 175,585.65 92,413.50 267,999.15 9,241
0.00 0.00 187,296.30 187,296.30 9,858
318,983.18 336,326.40 363,868.05 1,082,184.38 35,173
149,176.00 162,063.60 173,756.40 670,456.00
284,216.00 287,283.00 304,863.50 1,204,602.50
752,375.18 785,673.00 842,487.95 3,197,242.88
1,040,557.25 1,607,839.68 2,759,746.00 18,000.00
2,784,441.60 2,893,016.32 3,142,189.95 11,459,871.87

3,824,998.85 4,500,856.00 5,901,935.95 11,477,871.87
318,983.18 336,326.40 363,868.05 1,322,184.38

888,800.00 977,680.00 1,058,320.00 3,732,800.00
149,176.00 162,063.60 173,756.40 670,456.00
260,200.00 265,040.00 280,044.00 1,113,284.00
0.00 0.00 0.00 13,200.00
100,000.00 0.00 0.00 100,000.00
500,000.00 0.00 0.00 500,000.00
2,217,159.18 1,741,110.00 1,875,988.45 7,451,924.38
1,607,839.68 2,759,746.00 4,025,947.50 4,025,947.50
1,607,839.68 2,759,746.00 4,025,947.50

1,134,080.00 1,192,576.00 1,296,345.60
21,856.00 23,619.00 25,206.50
1,112,224.00 1,168,957.00 1,271,139.10
36,663.00 39,687.00 37,125.00

169,400.00 186,340.00 175,000.00
2,926,126.68 4,154,730.00 5,509,211.60
420,000.00 420,000.00 420,000.00

64,000.00 64,000.00 106,000.00
356,000.00 356,000.00 314,000.00
3,282,126.68 4,510,730.00 5,823,211.60
244,899.00 268,985.25 289,567.50

653,048.30 1,014,403.42 1,401,973.23
0.00 0.00 1,500,000.00
897,947.30 1,283,388.67 3,191,540.73
500,000.00 500,000.00 500,000.00

1,884,179.37 2,727,341.32 2,131,670.87
2,384,179.37 3,227,341.32 2,631,670.87
3,282,126.68 4,510,730.00 5,823,211.60
0 0 0
Current Assets
Cash
Accounts Receivable 1,192,000
Uncollectible accounts 22,400
Inventory
Raw materials (12 000 units) 30,000
Finished goods (4 000 units) 140,000
Non-current Assets
Property, Plant, and Equipment 320,000
Accumulated depreciation 64,000
Total assets
Current liabilities
Accounts Payable
Taxes Payable
Dividends Payable
Stockholders equity
Retained earnings

Discount Grand Accounts receivable
24,576 2,560,000
27,878 2,904,000
28,808 3,000,800 240064
31,688 3,300,880 1056281.6
1296345.6
Total A/P
306,330
336,633
369,654 92,414
394,308 197,154
1,406,925 289,568
18,000
1,169,600
170,000
1,357,600
256,000
1,613,600
240,000
13,200
500,000
753,200
500,000
360,400
860,400
1,613,600
0
1,067,200.00
1,134,080.00
1,192,576.00
1,296,345.60
235,665.00
244,899.00
268,985.25
289,942.50
1st
40,000.00
Sales 64 66 62 62 2,560,000.00

Total 44,400.00

Unit price 2.50


Utilities 0.5 20,200.00
Total 117,160.00
Insurance 48,000.00
Rent 19,500.00
Utilities 500.00
Maintenance 300.00
Depreciation 0.00
Total 68,300.00
Manufacturing costs
Direct materials

Sales 2,560,000.00
Net sales 2,535,424.00
1st
3rd quarter 2019 180,000.00
4th quarter 2019 744,000.00
1st quarter 2020 1,716,224.00
Total 2,640,224.00
1st
3rd quarter 2019 75,000.00
4th quarter 2019 82,500.00
1st quarter 2020 145,506.75
Total 303,006.75
Total 816,706.75

Dividends 0.00
Treasury bonds 1,015,557.25
Ending cash balance 25,000.00
Current Assets
Cash 25,000.00
Inventory
Non-current Assets
Current liabilities
Stockholders equity
0.00
44,000.00 48,400.00 53,240.00 185,640.00
2,904,000.00 3,000,800.00 3,300,880.00 11,765,680.00
44,000.00 48,400.00 53,240.00 50,000.00 185,640.00

4,840.00 5,324.00 5,000.00 5,500.00 5,000.00
48,840.00 53,724.00 58,240.00 55,500.00 205,204.00
4,400.00 4,840.00 5,324.00 5,000.00 4,000.00
44,440.00 48,884.00 52,916.00 50,500.00 186,640.00
133,320.00 146,652.00 158,748.00 151,500.00 559,920.00

14,665.20 15,874.80 15,150.00 15,150.00
147,985.20 162,526.80 173,898.00 575,070.00
13,332.00 14,665.20 15,874.80 12,000.00
134,653.20 147,861.60 158,023.20 563,070.00
2.50 2.50 2.50 2.50
336,633.00 369,654.00 395,058.00 1,407,675.00
44,440.00 48,884.00 52,916.00 186,640.00

5.00 5.00 5.00 5.00
222,200.00 244,420.00 264,580.00 933,200.00
4.00 4.00 4.00 4.00
888,800.00 977,680.00 1,058,320.00 3,732,800.00
44,440.00 48,884.00 52,916.00 186,640.00

4,444.00 4,888.40 5,291.60 18,664.00
88,880.00 97,768.00 105,832.00 373,280.00
22,220.00 24,442.00 26,458.00 93,320.00
13,332.00 14,665.20 15,874.80 55,992.00
128,876.00 141,763.60 153,456.40 541,256.00
0.00 0.00 0.00 48,000.00

19,500.00 19,500.00 19,500.00 78,000.00
500.00 500.00 500.00 2,000.00
300.00 300.00 300.00 1,200.00
0.00 0.00 42,000.00 42,000.00
20,300.00 20,300.00 62,300.00 171,200.00
149,176.00 162,063.60 215,756.40 712,456.00
0.00 0.00 0.00 0.00
33,330.00 36,663.00 39,687.00 30,000.00
336,633.00 369,654.00 395,058.00 1,407,675.00
8,415.83 9,241.35 9,876.45 35,191.88
328,217.18 360,412.65 385,181.55 1,372,483.13
361,547.18 397,075.65 424,868.55 1,402,483.13
36,663.00 39,687.00 37,875.00 37,875.00
324,884.18 357,388.65 386,993.55 1,364,608.13
888,800.00 977,680.00 1,058,320.00 3,732,800.00
149,176.00 162,063.60 215,756.40 712,456.00
1,362,860.18 1,497,132.25 1,661,069.95 5,809,864.13
0.00 0.00 0.00 0.00
1,362,860.18 1,497,132.25 1,661,069.95 5,809,864.13
154,000.00 169,400.00 186,340.00 140,000.00
1,516,860.18 1,666,532.25 1,847,409.95 5,949,864.13
169,400.00 186,340.00 175,000.00 175,000.00
1,347,460.18 1,480,192.25 1,672,409.95 5,774,864.13
145,200.00 150,040.00 165,044.00 588,284.00
100,000.00 100,000.00 100,000.00 400,000.00

15,000.00 15,000.00 15,000.00 60,000.00
0.00 0.00 0.00 65,000.00
24,016.00 22,243.20 24,819.52 91,318.72
284,216.00 287,283.20 304,863.52 1,204,602.72
2,904,000.00 3,000,800.00 3,300,880.00 11,765,680.00
27,878.40 28,807.68 31,688.45 112,950.53
2,876,121.60 2,971,992.32 3,269,191.55 11,652,729.47

1,347,460.18 1,480,192.25 1,672,409.95 5,774,864.13
1,528,661.43 1,491,800.07 1,596,781.60 5,877,865.35
284,216.00 287,283.20 304,863.52 1,204,602.72
1,244,445.43 1,204,516.87 1,291,918.08 4,673,262.63
373,333.63 361,355.06 387,575.42 1,401,978.79
871,111.80 843,161.81 904,342.66 3,271,283.84

0.00 0.00 0.00 20,000.00
223,200.00 0.00 0.00 24,800.00
614,400.00 184,320.00 0.00 2,514,944.00 20,480.00
1,946,841.60 696,960.00 209,088.00 2,852,889.60 23,232.00
0.00 2,011,736.32 720,192.00 2,731,928.32 24,006.40
0.00 0.00 2,212,909.95 2,212,909.95 26,407.04
2,784,441.60 2,893,016.32 3,142,189.95 11,459,871.87

0.00 0.00 0.00
82,500.00 0.00 0.00
76,582.50 76,582.50 0.00 298,671.75 7,658.25
159,900.68 84,158.25 84,158.25 328,217.18 8,415.83
0.00 175,585.65 92,413.50 267,999.15 9,241.35
0.00 0.00 187,652.55 187,652.55 9,876.45
318,983.18 336,326.40 364,224.30 1,322,540.63 35,191.88
149,176.00 162,063.60 173,756.40 670,456.00
284,216.00 287,283.20 304,863.52 1,204,602.72
752,375.18 785,673.20 842,844.22 3,197,599.35
25,000.00 592,282.43 1,744,188.75 18,000.00
2,784,441.60 2,893,016.32 3,142,189.95 11,459,871.87

2,809,441.60 3,485,298.75 4,886,378.70 11,477,871.87
318,983.18 336,326.40 364,224.30 1,322,540.63

888,800.00 977,680.00 1,058,320.00 3,732,800.00
149,176.00 162,063.60 173,756.40 670,456.00
260,200.00 265,040.00 280,044.00 1,113,284.00
0.00 0.00 0.00 13,200.00
100,000.00 0.00 0.00 100,000.00
500,000.00 0.00 0.00 500,000.00
0.00 0.00 0.00 1,015,557.25
2,217,159.18 1,741,110.00 1,876,344.70 8,467,837.88
592,282.43 1,744,188.75 3,010,034.00 3,010,034.00
592,282.43 1,744,188.75 3,010,034.00

1,134,080.00 1,192,576.00 1,296,345.60
21,856.00 23,619.20 25,206.72
1,112,224.00 1,168,956.80 1,271,138.88
1,015,557.25 1,015,557.25 1,015,557.25
36,663.00 39,687.00 37,875.00

169,400.00 186,340.00 175,000.00
2,926,126.68 4,154,729.80 5,509,605.13
420,000.00 420,000.00 420,000.00

64,000.00 64,000.00 106,000.00
356,000.00 356,000.00 314,000.00
3,282,126.68 4,510,729.80 5,823,605.13
244,899.00 268,985.25 289,942.50

653,048.30 1,014,403.36 1,401,978.79
0.00 0.00 1,500,000.00
897,947.30 1,283,388.61 3,191,921.29
500,000.00 500,000.00 500,000.00

1,884,179.37 2,727,341.18 2,131,683.84
2,384,179.37 3,227,341.18 2,631,683.84
3,282,126.68 4,510,729.80 5,823,605.13
0.00 0.00 0.00

Current Assets
Cash
Inventory
Non-current Assets
1296345.6 Property, Plant, and Equipment 320,000
Total assets
Current liabilities
Accounts Payable
Taxes Payable
Dividends Payable
Stockholders equity
Retained earnings

88512
24,576.00 2,560,000.00
27,878.40 2,904,000.00
28,807.68 3,000,800.00 240,064.00
31,688.45 3,300,880.00 1,056,281.60
112,950.53 1,296,345.60
Total A/P
306,330.00
336,633.00
369,654.00 92,413.50
395,058.00 197,529.00
1,407,675.00 289,942.50
18,000
1,169,600
170,000
1,357,600
256,000
1,613,600
240,000
13,200
500,000
753,200
500,000
360,400
860,400
1,613,600
0
1,067,200.00
1,134,080.00
1,192,576.00
1,296,345.60
237,717.21
246,063.50
268,926.35
289,503.45
1st
40,000.00
Sales 64 66 62 62 2,560,000.00

Total 44,400.00

Unit price 2.50


Utilities 0.5 20,200.00
Total 117,160.00
Insurance 48,000.00
Rent 19,500.00
Utilities 500.00
Maintenance 300.00
Depreciation 0.00
Total 68,300.00
Manufacturing costs
Direct materials

Sales 2,560,000.00
Net sales 2,535,424.00
1st
3rd quarter 2019 180,000.00
4th quarter 2019 744,000.00
1st quarter 2020 1,716,224.00
Total 2,640,224.00
1st
3rd quarter 2019 75,000.00
4th quarter 2019 82,500.00
1st quarter 2020 147,456.35
Total 304,956.35
Total 818,656.35

Dividends 0.00
Ending cash balance 25,000.00
Current Assets
Cash 25,000.00
Inventory
Non-current Assets
Current liabilities
Stockholders equity
0.00
44,000.00 48,400.00 53,240.00 185,640.00
2,904,000.00 3,000,800.00 3,300,880.00 11,765,680.00
44,000.00 48,400.00 53,240.00 50,000.00 185,640.00

4,840.00 5,324.00 5,000.00 5,500.00 5,000.00
48,840.00 53,724.00 58,240.00 55,500.00 205,204.00
4,400.00 4,840.00 5,324.00 5,000.00 4,000.00
44,440.00 48,884.00 52,916.00 50,500.00 186,640.00
133,320.00 146,652.00 158,748.00 151,500.00 559,920.00

16,417.68 17,524.80 16,500.00 13,500.00 16,500.00
149,737.68 164,176.80 175,248.00 165,000.00 576,420.00
14,973.77 16,417.68 17,524.80 12,000.00
134,763.91 147,759.12 157,723.20 564,420.00
2.50 2.50 2.50 2.50
336,909.78 369,397.80 394,308.00 1,411,050.00
44,440.00 48,884.00 52,916.00 186,640.00

5.00 5.00 5.00 5.00
222,200.00 244,420.00 264,580.00 933,200.00
4.00 4.00 4.00 4.00
888,800.00 977,680.00 1,058,320.00 3,732,800.00
44,440.00 48,884.00 52,916.00 186,640.00

4,444.00 4,888.40 5,291.60 18,664.00
88,880.00 97,768.00 105,832.00 373,280.00
22,220.00 24,442.00 26,458.00 93,320.00
13,332.00 14,665.20 15,874.80 55,992.00
128,876.00 141,763.60 153,456.40 541,256.00
0.00 0.00 0.00 48,000.00

19,500.00 19,500.00 19,500.00 78,000.00
500.00 500.00 500.00 2,000.00
300.00 300.00 300.00 1,200.00
0.00 0.00 42,000.00 42,000.00
20,300.00 20,300.00 62,300.00 171,200.00
149,176.00 162,063.60 215,756.40 712,456.00
0.00 0.00 0.00 0.00
37,434.42 41,044.20 43,812.00 30,000.00
336,909.78 369,397.80 394,308.00 1,411,050.00
8,422.74 9,234.95 9,857.70 35,276.25
328,487.04 360,162.86 384,450.30 1,375,773.75
365,921.46 401,207.06 428,262.30 1,405,773.75
41,044.20 43,812.00 41,250.00 41,250.00
324,877.26 357,395.06 387,012.30 1,364,523.75
888,800.00 977,680.00 1,058,320.00 3,732,800.00
149,176.00 162,063.60 215,756.40 712,456.00
1,362,853.26 1,497,138.66 1,661,088.70 5,809,779.75
0.00 0.00 0.00 0.00
1,362,853.26 1,497,138.66 1,661,088.70 5,809,779.75
154,000.00 169,400.00 186,340.00 140,000.00
1,516,853.26 1,666,538.66 1,847,428.70 5,949,779.75
169,400.00 186,340.00 175,000.00 175,000.00
1,347,453.26 1,480,198.66 1,672,428.70 5,774,779.75
145,200.00 150,040.00 165,044.00 588,284.00
100,000.00 100,000.00 100,000.00 400,000.00

15,000.00 15,000.00 15,000.00 60,000.00
0.00 0.00 0.00 65,000.00
24,016.00 22,243.20 24,819.52 91,318.72
284,216.00 287,283.20 304,863.52 1,204,602.72
2,904,000.00 3,000,800.00 3,300,880.00 11,765,680.00
27,878.40 28,807.68 31,688.45 112,950.53
2,876,121.60 2,971,992.32 3,269,191.55 11,652,729.47

1,347,453.26 1,480,198.66 1,672,428.70 5,774,779.75
1,528,668.34 1,491,793.67 1,596,762.85 5,877,949.72
284,216.00 287,283.20 304,863.52 1,204,602.72
1,244,452.34 1,204,510.47 1,291,899.33 4,673,347.00
373,335.70 361,353.14 387,569.80 1,402,004.10
871,116.64 843,157.33 904,329.53 3,271,342.90

0.00 0.00 0.00 20,000.00
223,200.00 0.00 0.00 24,800.00
614,400.00 184,320.00 0.00 2,514,944.00 20,480.00
1,946,841.60 696,960.00 209,088.00 2,852,889.60 23,232.00
0.00 2,011,736.32 720,192.00 2,731,928.32 24,006.40
0.00 0.00 2,212,909.95 2,212,909.95 26,407.04
2,784,441.60 2,893,016.32 3,142,189.95 11,459,871.87

0.00 0.00 0.00
82,500.00 0.00 0.00
77,608.61 77,608.61 0.00 302,673.56 7,760.86
160,032.15 84,227.45 84,227.45 328,487.04 8,422.74
0.00 175,463.96 92,349.45 267,813.41 9,234.95
0.00 0.00 187,296.30 187,296.30 9,857.70
320,140.75 337,300.01 363,873.20 1,326,270.30 35,276.25
149,176.00 162,063.60 173,756.40 670,456.00
284,216.00 287,283.20 304,863.52 1,204,602.72
753,532.75 786,646.81 842,493.12 3,201,329.02
25,000.00 591,124.85 1,742,057.57 18,000.00
2,784,441.60 2,893,016.32 3,142,189.95 11,459,871.87

2,809,441.60 3,484,141.17 4,884,247.52 11,477,871.87
320,140.75 337,300.01 363,873.20 1,326,270.30

888,800.00 977,680.00 1,058,320.00 3,732,800.00
149,176.00 162,063.60 173,756.40 670,456.00
260,200.00 265,040.00 280,044.00 1,113,284.00
0.00 0.00 0.00 13,200.00
100,000.00 0.00 0.00 100,000.00
500,000.00 0.00 0.00 500,000.00
0.00 0.00 0.00 1,013,607.65
2,218,316.75 1,742,083.61 1,875,993.60 8,469,617.95
591,124.85 1,742,057.57 3,008,253.92 3,008,253.92
591,124.85 1,742,057.57 3,008,253.92

1,134,080.00 1,192,576.00 1,296,345.60
21,856.00 23,619.20 25,206.72
1,112,224.00 1,168,956.80 1,271,138.88
1,015,557.25 1,015,557.25 1,015,557.25
41,044.20 43,812.00 41,250.00

169,400.00 186,340.00 175,000.00
2,929,350.30 4,156,723.62 5,511,200.05
420,000.00 420,000.00 420,000.00

64,000.00 64,000.00 106,000.00
356,000.00 356,000.00 314,000.00
3,285,350.30 4,512,723.62 5,825,200.05
246,063.50 268,926.35 289,503.45

653,081.16 1,014,434.30 1,402,004.10
0.00 0.00 1,500,000.00
899,144.66 1,283,360.65 3,191,507.55
500,000.00 500,000.00 500,000.00

1,884,256.04 2,727,413.37 2,131,742.90
2,384,256.04 3,227,413.37 2,631,742.90
3,283,400.70 4,510,774.02 5,823,250.45
1,949.60 1,949.60 1,949.60

Current Assets
Cash
Inventory
Non-current Assets
1296345.6 Property, Plant, and Equipment 320,000
Total assets
Current liabilities
Accounts Payable
Taxes Payable
Dividends Payable
Stockholders equity
Retained earnings

88512
24,576.00 2,560,000.00
27,878.40 2,904,000.00
28,807.68 3,000,800.00 240,064.00
31,688.45 3,300,880.00 1,056,281.60
112,950.53 1,296,345.60
Total A/P
310,434.42
336,909.78
369,397.80 92,349.45
394,308.00 197,154.00
1,411,050.00 289,503.45
18,000
1,169,600
170,000
1,357,600
256,000
1,613,600
240,000
13,200
500,000
753,200
500,000
360,400
860,400
1,613,600
0
Dalagang Filipina Company
Statement of Financial Position
As of December 31, 2019
Current Assets
Cash 18,000
Uncollectible accounts 22,400 1,169,600
Inventory
Finished goods (4 000 units) 140,000 170,000
Total current assets 1,357,600
Non-current Assets
Property, Plant, and Equipment 320,000
Accumulated depreciation 64,000 256,000
Current liabilities
Accounts Payable 240,000
Taxes Payable 13,200
Dividends Payable 500,000
Total current liabilities 753,200
Stockholders equity
Common stock (100000 shares) 500,000
Retained earnings 360,400
Total stockholders equity 860,400
Total liabilities and equity 1,613,600

Sales Budget
For 2020
1st 2nd 3rd

Estimated Unit Sales 40,000.00 44,000.00 48,400.00
Selling Price 64.00 66.00 62.00
Total Budgeted Sales 2,560,000.00 2,904,000.00 3,000,800.00

Production Budget
For 2020
1st 2nd 3rd

Units to be sold 40,000.00 44,000.00 48,400.00
Desired ending inventory 4,400.00 4,840.00 5,324.00
Total 44,400.00 48,840.00 53,724.00
Beginning balance 4,000.00 4,400.00 4,840.00
Units to produce 40,400.00 44,440.00 48,884.00
pany
4th Total
53,240.00 185,640.00
62.00
3,300,880.00 11,765,680.00
pany
4th Total
53,240.00 50,000.00 185,640.00
5,000.00 5,500.00 5,000.00
58,240.00 55,500.00 190,640.00
5,324.00 5,000.00 4,000.00
52,916.00 50,500.00 186,640.00
Purchase Budget
For 2020
1st 2nd 3rd

Units to Produce 40,400.00 44,440.00 48,884.00
Raw materials required per unit 3.00 3.00 3.00
Units required for production 121,200.00 133,320.00 146,652.00
Desired ending inventory 14,973.77 16,417.68 17,524.80
Total units required 136,173.77 149,737.68 164,176.80
Beginning inventory 12,000.00 14,973.77 16,417.68
Units to be purchased 124,173.77 134,763.91 147,759.12
Unit price 2.50 2.50 2.50
Total purchases 310,434.42 336,909.78 369,397.80

Personnel Budget
For 2020
1st 2nd 3rd

Units to be produced 40,400.00 44,440.00 48,884.00
Direct Labor hours per unit produced 5.00 5.00 5.00
Total direct labor hours needed 202,000.00 222,200.00 244,420.00
Direct labor cost per unit 4.00 4.00 4.00
Total budgeted direct labor cost 808,000.00 888,800.00 977,680.00

Overhead Budget
For 2020
1st 2nd 3rd

Variable manufacturing overhead
Units to be produced 40,400.00 44,440.00 48,884.00
Indirect labor (@5*0.2=0.1) 4,040.00 4,444.00 4,888.40
Indirect material (@2) 80,800.00 88,880.00 97,768.00
Utilities (@0.5) 20,200.00 22,220.00 24,442.00
Maintenance (@0.3) 12,120.00 13,332.00 14,665.20
Total 117,160.00 128,876.00 141,763.60
Insurance 48,000.00 0.00 0.00
Rent 19,500.00 19,500.00 19,500.00
Utilities 500.00 500.00 500.00
Maintenance 300.00 300.00 300.00
Depreciation 0.00 0.00 0.00
Total 68,300.00 20,300.00 20,300.00
Total Manufacturing overhead 185,460.00 149,176.00 162,063.60

Selling and Administrative Budget
For 2020
1st 2nd 3rd

Commission 128,000.00 145,200.00 150,040.00
Admin salaries 100,000.00 100,000.00 100,000.00
Office rent 15,000.00 15,000.00 15,000.00
Advertising 65,000.00 0.00 0.00
Uncollectible accounts 20,240.00 24,016.00 22,243.20
Total selling and administrative expenses 328,240.00 284,216.00 287,283.20
ny
4th Total
52,916.00 50,500.00 186,640.00
3.00 3.00 3.00
158,748.00 151,500.00 559,920.00
16,500.00 13,500.00 16,500.00
175,248.00 165,000.00 576,420.00
17,524.80 12,000.00
157,723.20 564,420.00
2.50 2.50
394,308.00 1,411,050.00
ny
4th Total
52,916.00 186,640.00
5.00 5.00
264,580.00 933,200.00
4.00 4.00
1,058,320.00 3,732,800.00
ny
4th Total
52,916.00 186,640.00
5,291.60 18,664.00
105,832.00 373,280.00
26,458.00 93,320.00
15,874.80 55,992.00
153,456.40 541,256.00
0.00 48,000.00
19,500.00 78,000.00
500.00 2,000.00
300.00 1,200.00
42,000.00 42,000.00
62,300.00 171,200.00
215,756.40 712,456.00
ny
udget
4th Total
165,044.00 588,284.00
100,000.00 400,000.00
15,000.00 60,000.00
0.00 65,000.00
24,819.52 91,318.72
304,863.52 1,204,602.72
Cash Collection Schedule
For 2020
1st 2nd 3rd

Cash sales 512,000.00 580,800.00 600,160.00
3rd quarter 2019 180,000.00 0.00 0.00
4th quarter 2019 744,000.00 223,200.00 0.00
1st quarter 2020 1,204,224.00 614,400.00 184,320.00
2nd quarter 2020 0.00 1,366,041.60 696,960.00
3rd quarter 2020 0.00 0.00 1,411,576.32
4th quarter 2020 0.00 0.00 0.00
Total 2,640,224.00 2,784,441.60 2,893,016.32

Cash Disbursements Schedule
For 2020
1st 2nd 3rd

3rd quarter 2019 75,000.00 0.00 0.00
4th quarter 2019 82,500.00 82,500.00 0.00
1st quarter 2020 147,456.35 77,608.61 77,608.61
2nd quarter 2020 0.00 160,032.15 84,227.45
3rd quarter 2020 0.00 0.00 175,463.96
4th quarter 2020 0.00 0.00 0.00
Total purchases paid 304,956.35 320,140.75 337,300.01
Factory Overhead 185,460.00 149,176.00 162,063.60

Selling and Administrative expenses 308,000.00 260,200.00 265,040.00
Total 798,416.35 729,516.75 764,403.61

Cash Budget
For 2020
1st 2nd 3rd

Beginning cash balance 18,000.00 25,000.00 591,124.85
Collections from customers 2,640,224.00 2,784,441.60 2,893,016.32
Total cash available 2,658,224.00 2,809,441.60 3,484,141.17
Materials purchases 304,956.35 320,140.75 337,300.01
Direct labor 808,000.00 888,800.00 977,680.00
Factory overhead 185,460.00 149,176.00 162,063.60
Selling and administrative expenses 308,000.00 260,200.00 265,040.00
Payments for income tax 13,200.00 0.00 0.00
Purchase of assets 0.00 100,000.00 0.00
Dividends 0.00 500,000.00 0.00
Treasury bonds 1,013,607.65 0.00 0.00
Total disbursements 2,633,224.00 2,218,316.75 1,742,083.61
Ending cash balance 25,000.00 591,124.85 1,742,057.57
ny
e
4th Total
660,176.00 2,353,136.00
0.00 180,000.00
0.00 967,200.00
0.00 2,002,944.00
209,088.00 2,272,089.60
720,192.00 2,131,768.32
1,552,733.95 1,552,733.95
3,142,189.95 11,459,871.87
ny
dule
4th Total
0.00 75,000.00
0.00 165,000.00
0.00 302,673.56
84,227.45 328,487.04
92,349.45 267,813.41
187,296.30 187,296.30
363,873.20 1,326,270.30
173,756.40 670,456.00
280,044.00 1,113,284.00
817,673.60 3,110,010.30
ny
4th Total
1,742,057.57 18,000.00
3,142,189.95 11,459,871.87
4,884,247.52 11,477,871.87
363,873.20 1,326,270.30
1,058,320.00 3,732,800.00
173,756.40 670,456.00
280,044.00 1,113,284.00
0.00 13,200.00
0.00 100,000.00
0.00 500,000.00
0.00 1,013,607.65
1,875,993.60 8,469,617.95
3,008,253.92 3,008,253.92
Accounts Receivable Schedule
For 2020
1st 2nd 3rd

Accounts Receivable, beginning 1,192,000.00 1,067,200.00 1,134,080.00
Sales 2560000 2904000 3000800
Cash collections 2640224 2784441.6 2893016.32
Sales discount 24,576.00 27,878.40 28,807.68
Write off 20,000.00 24,800.00 20,480.00
Accounts Receivable, ending 1,067,200.00 1,134,080.00 1,192,576.00
Allowance for Uncollectible Accounts, beginning 22,400.00 22,640.00 21,856.00
Uncollectible accounts expense 20,240.00 24,016.00 22,243.20
Allowance for Uncollectible Accounts, ending 22,640.00 21,856.00 23,619.20

Accounts Payable Schedule
For 2020
1st 2nd 3rd

Accounts Payable, beginning 240,000.00 237,717.21 246,063.50
Credit Purchases 310,434.42 336,909.78 369,397.80
Payments 304,956.35 320,140.75 337,300.01
Purchase discounts 7,760.86 8,422.74 9,234.95
Accounts Payable, beginning 237,717.21 246,063.50 268,926.35
Dalagang Filipina C
Cost of Goods Manu
For 2020
4th 1st
1,192,576.00 Beginning work in process inventory 0.00
3300880 Manufacturing costs
3142189.952 Direct materials
31,688.45 Beginning inventory 30,000.00
23,232.00 Purchases 310,434.42
1,296,345.60 Purchase discounts 7,760.86
23,619.20 Net purchases 302,673.56
24,819.52 Cost of goods available for use 332,673.56
25,206.72 Ending inventory 37,434.42
4th
268,926.35
394,308.00 Dalagang Filipina C
363,873.20 Income Statem
9,857.70 For 2020
289,503.45
1st
Sales 2,560,000.00
Net sales 2,535,424.00
Cost of sales
Finished Goods, beginning 140,000.00
Total 1,428,699.14
Finished goods, ending 154,000.00
Dalagang Filipina C
Statement of Financi
For 2020
1st
Current Assets
Cash 25,000.00
Inventory
Non-current Assets
Current liabilities
Stockholders equity
0.00
Cost of Goods Manufactured
For 2020
2nd 3rd 4th Total

0.00 0.00 0.00 0.00
37,434.42 41,044.20 43,812.00 30,000.00

336,909.78 369,397.80 394,308.00 1,411,050.00
8,422.74 9,234.95 9,857.70 35,276.25
328,487.04 360,162.86 384,450.30 1,375,773.75
365,921.46 401,207.06 428,262.30 1,405,773.75
41,044.20 43,812.00 41,250.00 41,250.00
324,877.26 357,395.06 387,012.30 1,364,523.75
888,800.00 977,680.00 1,058,320.00 3,732,800.00
149,176.00 162,063.60 215,756.40 712,456.00
1,362,853.26 1,497,138.66 1,661,088.70 5,809,779.75
0.00 0.00 0.00 0.00
1,362,853.26 1,497,138.66 1,661,088.70 5,809,779.75

Income Statement
For 2020
2nd 3rd 4th Total

2,904,000.00 3,000,800.00 3,300,880.00 11,765,680.00
27,878.40 28,807.68 31,688.45 112,950.53
2,876,121.60 2,971,992.32 3,269,191.55 11,652,729.47
154,000.00 169,400.00 186,340.00 140,000.00

1,362,853.26 1,497,138.66 1,661,088.70 5,809,779.75
1,516,853.26 1,666,538.66 1,847,428.70 5,949,779.75
169,400.00 186,340.00 175,000.00 175,000.00
1,347,453.26 1,480,198.66 1,672,428.70 5,774,779.75
1,528,668.34 1,491,793.67 1,596,762.85 5,877,949.72
284,216.00 287,283.20 304,863.52 1,204,602.72
1,244,452.34 1,204,510.47 1,291,899.33 4,673,347.00
373,335.70 361,353.14 387,569.80 1,402,004.10
871,116.64 843,157.33 904,329.53 3,271,342.90

Statement of Financial Position
For 2020
2nd 3rd 4th Total
591,124.85 1,742,057.57 3,008,253.92 3,008,253.92

1,134,080.00 1,192,576.00 1,296,345.60 1,296,345.60
21,856.00 23,619.20 25,206.72 25,206.72
1,112,224.00 1,168,956.80 1,271,138.88 1,271,138.88
1,013,607.65 1,013,607.65 1,013,607.65 1,013,607.65
169,400.00 186,340.00 175,000.00 175,000.00

41,044.20 43,812.00 41,250.00 41,250.00
2,927,400.70 4,154,774.02 5,509,250.45 5,509,250.45
420,000.00 420,000.00 420,000.00 420,000.00

64,000.00 64,000.00 106,000.00 106,000.00
356,000.00 356,000.00 314,000.00 314,000.00
3,283,400.70 4,510,774.02 5,823,250.45 5,823,250.45
246,063.50 268,926.35 289,503.45 289,503.45

653,081.16 1,014,434.30 1,402,004.10 1,402,004.10
0.00 0.00 0.00 0.00
899,144.66 1,283,360.65 1,691,507.55 1,691,507.55
500,000.00 500,000.00 500,000.00 500,000.00

1,884,256.04 2,727,413.37 3,631,742.90 3,631,742.90
2,384,256.04 3,227,413.37 4,131,742.90 4,131,742.90
3,283,400.70 4,510,774.02 5,823,250.45 5,823,250.45
0.00 0.00 0.00

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=

Units required for production

Variable manufacturing overhead: units to be produced

Beginning work in process inventory

Variable selling and administrative expenses

20000 3rd quarter 2019

165000 3rd quarter 2019

Beginning cash balance

Total liabilities and equity

Total liabilities and equity

40,000 44,000 48,400 53,240 50,000 185,640

121,200 133,320 146,652 158,748 148,500 559,920

40,400 44,440 48,884 52,916 186,640

40,400 44,440 48,884 52,916 186,640

128,000 145,200 150,040 165,044 588,284

100,000 100,000 100,000 100,000 400,000

2,560,000 2,904,000 3,000,800 3,300,880 11,765,680

1st 2nd 3rd 4th Total

1st 2nd 3rd 4th Total

185,460 149,176 162,064 173,756 670,456

18,000 1,040,557 1,607,840 2,759,746 18,000

2,640,224 2,784,442 2,893,016 3,142,190 11,459,872

303,007 318,983 336,326 363,868 1,322,184

1st 2nd 3rd 4th Total

1,040,557 1,607,840 2,759,746 4,025,947

33,330 36,663 39,687 37,125

2,548,447 3,326,927 2,985,773 4,238,072

500,000 500,000 500,000 500,000

2,548,447 3,041,212 2,087,160 2,177,119

20480 24576 2560000 512000 1204224

1st 2nd 3rd

Units to be sold 40,000.00

Units required for production 121,200.00

Units to be produced 40,400.00

Variable manufacturing overhead: units to be produced 40,400.00

Variable selling and administrative expenses

Factory Overhead 185,460.00

Selling and administrative expenses 328,240.00

Beginning cash balance 18,000.00

Total assets 2,528,447.25

Total liabilities and equity 2,528,447.25

44,000.00 48,400.00 53,240.00 50,000.00 185,640.00

133,320.00 146,652.00 158,748.00 148,500.00 559,920.00

44,440.00 48,884.00 52,916.00 186,640.00

44,440.00 48,884.00 52,916.00 186,640.00

0.00 0.00 0.00 48,000.00

33,330.00 36,663.00 39,687.00 30,000.00

336,633.00 369,654.00 394,308.00 1,406,925.00

8,415.83 9,241.35 9,857.70 35,173.13

328,217.18 360,412.65 384,450.30 1,371,751.88

361,547.18 397,075.65 424,137.30 1,401,751.88

36,663.00 39,687.00 37,125.00 37,125.00

324,884.18 357,388.65 387,012.30 1,364,626.88

888,800.00 977,680.00 1,058,320.00 3,732,800.00

149,176.00 162,063.60 215,756.40 712,456.00

1,362,860.18 1,497,132.25 1,661,088.70 5,809,882.88

0.00 0.00 0.00 0.00

1,362,860.18 1,497,132.25 1,661,088.70 5,809,882.88

154,000.00 169,400.00 186,340.00 140,000.00

1,516,860.18 1,666,532.25 1,847,428.70 5,949,882.88

169,400.00 186,340.00 175,000.00 175,000.00

1,347,460.18 1,480,192.25 1,672,428.70 5,774,882.88

145,200.00 150,040.00 165,044.00 588,284.00

100,000.00 100,000.00 100,000.00 400,000.00