NAMA : RAJID DHANY AKBAR

NIM : 185221173
KELAS : AKUNTANSI 5 E

Briggs Manufacturing
For the Quarter Ended March 31, 20XX

1. Schedule 1: Sales Budget

January February March Total

Units 40,000 50,000 60,000 150,000
Selling price ´ $215 ´ $215 ´ $215 ´ $215
Sales $8,600,000 $10,750,000 $12,900,000 $32,250,000

2. Schedule 2: Production Budget

January February March Total

Sales (Schedule 1) 40,000 50,000 60,000 150,000
Desired ending inventory 40,000 48,000 48,000 48,000
Total needs 80,000 98,000 108,000 198,000
Less: Beginning inventory 32,000 40,000 48,000 32,000
Units to be produced 48,000 58,000 60,000 166,000
3. Schedule 3: Direct Materials Purchases Budget

January February
Metal Components Metal Components
Units to be produced
(Schedule 2) 48,000 48,000 58,000 58,000
Direct materials
per unit (lbs.) ´ 10 ´ 6 ´ 10 ´ 6
Production needs 480,000 288,000 580,000 348,000
Desired ending
inventory 250,000 150,000 300,000 180,000
Total needs 730,000 438,000 880,000 528,000
Less: Beginning
inventory 200,000 120,000 250,000 150,000
Direct materials to
be purchased 530,000 318,000 630,000 378,000
Cost per pound ´ $8 ´ $2 ´ $8 ´ $2
Total cost $4,240,000 $636,000 $5,040,000 $756,000

(Schedule 3 continued)

March Total
Metal Components Metal Components
Units to be produced
(Schedule 2) 60,000 60,000 166,000 166,000
Direct materials
per unit (lbs.) ´ 10 ´ 6 ´ 10 ´ 6
Production needs 600,000 360,000 1,660,000 996,000
Desired ending
inventory 300,000 180,000 300,000 180,000
Total needs 900,000 540,000 1,960,000 1,176,000
Less: Beginning
inventory 300,000 180,000 200,000 120,000
Direct materials to
be purchased 600,000 360,000 1,760,000 1,056,000
Cost per pound ´ $8 ´ $2 ´ $8 ´ $2
Total cost $4,800,000 $720,000 $14,080,000 $2,112,000
4. Schedule 4: Direct Labor Budget

January February March Total

Units to be produced
(Schedule 2) 48,000 58,000 60,000 166,000
Direct labor time
per unit (hours) ´ 4 ´ 4 ´ 4 ´ 4
Total hours needed 192,000 232,000 240,000 664,000
Cost per hour ´ $9.25 ´ $9.25 ´ $9.25 ´ $9.25
Total cost $1,776,000 $2,146,000 $2,220,000 $6,142,000

5. Schedule 5: Overhead Budget

January February March Total

Budgeted direct labor
hours (Schedule 4) 192,000 232,000 240,000 664,000
Variable overhead rate ´ $3.40 ´ $3.40 ´ $3.40 ´ $3.40
Budgeted variable overhead $652,800 $ 788,800 $ 816,000 $2,257,600
Budgeted fixed overhead 338,000 338,000 338,000 1,014,000
Total overhead $990,800 $1,126,800 $1,154,000 $3,271,600
6. Schedule 6: Selling and Administrative Expenses Budget

January February March Total

Planned sales (Schedule 1) 40,000 50,000 60,000 150,000
Variable selling and
administrative expenses
per unit ´ $3.60 ´ $3.60 ´ $3.60 ´ $3.60
Total variable expense $144,000 $180,000 $216,000 $540,000
Fixed selling and
administrative expenses:
Salaries $ 50,000 $ 50,000 $ 50,000 $150,000
Depreciation 40,000 40,000 40,000 120,000
Other 20,000 20,000 20,000 60,000
Total fixed expenses $110,000 $110,000 $110,000 $330,000
Total selling and
administrative expenses $254,000 $290,000 $326,000 $870,000
7. Schedule 7: Ending Finished Goods Inventory Budget

Unit cost computation:

Direct materials: Metal (10 @ $8) = $80
Comp. (6 @ $2) = 12 $ 92.00
Direct labor (4 ´ $9.25) Overhead: 37.00

Variable (4 @ $3.40) 13.60

Fixed (4 ´ $1,014,000/664,000) 6.11
Total unit cost $148.71
Finished goods inventory = Units ´ Unit cost
= 48,000 ´ $148.71
= $7,138,080

8. Schedule 8: Cost of Goods Sold Budget

Direct materials used (Schedule 3)

Metal (1,660,000 ´ $8) $13,280,000
Components (996,000 ´ $2) 1,992,000 $15,272,000
Direct labor used (Schedule 4) 6,142,000
Overhead (Schedule 5) 3,271,600
Budgeted manufacturing costs $24,685,600
Add: Beginning finished goods (32,000 ´ $148.71) 4,758,720
Goods available for sale $29,444,320
Less: Ending finished goods (Schedule 7) 7,138,080
Budgeted cost of goods sold $22,306,240

9. Schedule 9: Budgeted Income Statement

Sales (Schedule 1) $32,250,000
Less: Cost of goods sold (Schedule 8) 22,306,240
Gross margin $ 9,943,760
Less: Selling and admin. expenses (Schedule 6) 870,000
Income before income taxes $ 9,073,760

10. Schedule 10: Cash Budget

January February March Total

Beg. balance $ 378,000 $ 1,321,200 $ 2,952,400 $ 378,000
Cash receipts 8,600,000 10,750,000 12,900,000 32,250,000
Cash available $8,978,000 $12,017,200 $15,852,400 $32,628,000
Less:
Disbursements:
Purchases $4,876,000 $5,796.000 $ 5,520,000 $16,192,000
Direct labor 1,776,000 2,146,000 2,220,000 6,142,000
Overhead 790,800 926,800 954,000 2,671,600
Selling & admin. 214,000 250,000 286,000 750,000
Total $7,656,800 $9,118.800 $ 8,980,000 $25,755,600
Tentative ending
balance $1,321,200 2,952,400 $ 6,872,400 $6,872,400
Borrowed/(repaid)
Interest paid — —
Ending balance $1,321,200 $ 2,952,400 $ 6,872,400 $ 6,872,400
*(0.12 ´ 2/12 ´ $56,800) + (0.12 ´ 1/12 ´ $6,800)