THE PUTNAM COMPANY

Sales Budget
For the Year Ended December 31, 2X12

1 2
Expected sales in units 1500 2700
Unit sales price $ 225 $ 225
Total sales $ 337,500 $ 607,500
note: expected sales unit are given

Schedule of Expected Cash Collections

Accounts receivable, 12/31/2X11 $ 100,000
1st-quarter sales ($150,000) $ 337,500 $ 135,000 $ 202,500
2nd-quarter sales ($270,000) $ 607,500 $ 243,000
3rd-quarter sales ($300,000) $ 675,000
4th-quarter sales ($180,000) $ 405,000
Total cash collections $ 235,000 $ 445,500
colected in quarter of sale 40%
colected in next quarter of sale 60%

MONTHLY CASH COLLECTIONS FROM CUSTOMERS

april-actual may-actual june-budgeted
Credit sales 320 200 300

The budgeted cash receipts for June and July are computed:
For June
From April sales $ 76.80
From May sales $ 120.00
From June sales $ 45.00
Total budgeted collections in June $ 241.80
For july
From May sales $ 48.00
From June sales $ 180.00
From july sales $ 42.00
Total budgeted collections in July $ 270.00

PRODUCTION BUDGET

THE PUTNAM COMPANY

Production Budget
For the Year Ended December 31, 2X12

Quarter
1 2 3
Planned Sales (Schedule 1) 1500 2700 3000
Desired ending inventory 270 300 180
Total needs 1770 3000 3180
Less: Beginning inventory 200 270 300
Units to be produced 1570 2730 2880

INVENTORY PURCHASES, MERCHANDISING FIRM

DIRECT MATERIAL BUDGET

THE PUTNAM COMPANY

Direct Material Budget
For the Year Ended December 31, 2X12

Quarter
1 2 3
Units to be produced (Sch. 2) 1570 2730 2880
Material needs per unit (lb) 3 3 3
Production needs (usage) 4710 8190 8640
Desired ending inventory of materialsy 1638 1728 1242
Total needs 6348 9918 9882
Less: Beginning inventory of materials 1177.5 1638 1728
Materials to be purchased 5170.5 8280 8154
Unit price 8 8 8
Purchase cost 41364 66240 65232
asumsi ^The cost of direct materials used is therefore $61,000 (12,200 units " $5 per uni
next quarter 2080 unit, so 2080*25%=520
25% of production needs (1960)
Schedule of Expected Cash Collections
Accounts payable, 12/31/2X11 $ 6,275
1st-quarter purchases ($11,900) 20682 20682
2nd-quarter purchases ($18,450 33120 33120
3rd-quarter purchases ($17,850) 32616
4th-quarter sales ($180,000)
Total disbursements $ 26,957 $ 53,802 $ 65,736

DIRECT LABOR BUDGET

THE PUTNAM COMPANY
Direct Labor Budget
For the Year Ended December 31, 2X12

Quarter
1 2 3
Units to be produced (Sch. 2) 1570 2730 2880
Direct labor hours per unit! 3 3 3
Total hours 4710 8190 8640
Direct labor cost per hour! 10 10 10
Total direct labor cost $ 47,100 $ 81,900 $ 86,400

FACTORY OVERHEAD BUDGET

THE PUTNAM COMPANY
Factory Oferhead Budget
For the Year Ended December 31, 2X12

Quarter
1 2 3
Budgeted direct labor 4710 8190 8640
Variable overhead rate 2 2 2
Variable overhead budgeted 9420 16380 17280
Fixed overhead budgeted 27000 27000 27000
Total budgeted overhead 36420 43380 44280
Less: depreciation! 6000 6000 6000
Cash disbursementsfor factory overhead $ 30,420 $ 37,380 $ 38,280

ENDING FINISHED GOODS INVENTORY BUDGET

THE PUTNAM COMPANY
Ending Inventory Budget
For the Year Ended December 31, 2X12

Ending Inventory
Units Unit Product Cost Total
300 units (Sch. 2) $82 $24,600
The unit product cost of $82 is computed as follows
Unit Cost Units
Direct materials $ 5 2
Direct labor $ 10 5
Factory overhead $ 4.40 5
Unit product cost

THE COST OF GOODS SOLD BUDGET

THE PUTNAM COMPANY

Cost of Good Sold Budget
For the Year Ended December 31, 2X12

From Schedule
Direct materials used 3 $ 61,000
Direct labor 4 $ 277,500
Factory overhead 5 $ 163,500
Total manufacturing costs $ 502,000
Beginning finished goods inventory 11 $ 16,400

Cost of goods available for sale $ 518,400

Less: Ending finished goods inventory 6 $24,600

Budgeted cost of goods sold $ 493,800

SELLING AND ADMINISTRATIVE EXPENSE BUDGET

THE PUTNAM COMPANY
Selling and Administrative Expense Budget
For the Year Ended December 31, 2X12

Quarter
1 2 3
Expected sales in units 1500 2700 3000
Variable selling and administrative 3 3 3
expense per unit!
Budgeted variable expense 4500 8100 9000
Fixed selling and administrative
expense:
Advertising 20000 20000 20000
Insurance 12600
Office salaries 40000 40000 40000
Taxes
Total budgeted selling and $ 64,500 $ 80,700 $ 69,000
administrative expenses

CASH BUDGET
THE PUTNAM COMPANY
Cash Budget
For the Year Ended December 31, 2X12

Quarter
From schedule 1 2
Expected sales in units $ 19,000 $ 10,675
Add: Receipts:
Collections from customers 1 $ 235,000 $ 445,500
Total cash available (a) $ 254,000 $ 456,175
Less:
Disbursements:
Direct materials 3 $ 26,957 $ 53,802
Direct labor 4 $ 47,100 $ 81,900
Factory overhead 5 $ 30,420 $ 37,380
Selling and admin 8 $ 64,500 $ 80,700
Equipment purchase given $ 30,000 $ 12,000
Dividends given $ 5,000 $ 5,000
Income tax 11 $ 15,000 $ 15,000
Total disbursements (b) $ 218,977 $ 285,782
Minimum cash balance $ 10,000 $ 10,000
Total cash needed (c) $ 228,977 $ 295,782
Cash surplus (deficit) (a) – (c) $ 25,023 $ 160,393
Finance:
Borrowing $ 30,000 $ 50,000
Repayment $ - $ -
Interest $ - $ -
Total effect of financing (d) $ 30,000 $ 50,000
Cash balance, ending $ 65,023 $ 220,393
(a) – (b)+(d)]

BUDGETED INCOME STATEMENT

THE PUTNAM COMPANY
Budget Income Statement
For the Year Ended December 31, 2X12

From schedule
Sales (6,000 units @$150) 1 $ 2,025,000
Less: Cost of goods sold 7 $ 493,800
Gross margin $ 1,531,200
Less: Selling and administrative expenses 8 $ 287,000
Operating income $ 1,244,200
Less: Interest expense 9 $ (5,625)
Net income before taxes $ 1,238,575
Less: Income taxes $ 60,000
Net income after taxes $ 1,178,575

BUDGETED BALANCE SHEET Schedule 11

THE PUTNAM COMPANY Schedule 11
Balance Sheet
December 31, 2X12

Assets
Cash $ 866,392
Accounts receivable $ 243,000
Materials inventory (520 lb.) $ 2,600
Finished goods inventory (300 units) $24,600
 Total current assets $ 1,136,592
Plant and equipment:
Land $ 30,000
Buildings and equipment $ 292,000
Accumulated depreciation $ 98,000
Plant and equipment, net $ 224,000
Total assets $ 1,360,592

Liabilities and Stockholders’ Equity

Current liabilities:
Accounts payable (raw materials) $ 23,872
Income tax payable $ 60,000
Total current liabilities $ 83,872
Stockholders’ equity:
Common stock, no par $ 200,000
Retained earnings $ 1,236,150
Total stockholders’ equity $ 1,436,150
Total liabilities and stockholders’ equity $ 1,520,022
 Schedule 1
2X12

Quarter
3 4 Year as a Whole
3000 1800 9000
$ 225 $ 225 $ 225
$ 675,000 $ 405,000 $ 2,025,000

edule of Expected Cash Collections

$ 100,000 given
$ 337,500
$ 364,500 $ 607,500
$ 270,000 $ 405,000 $ 675,000
$ 162,000 $ 162,000
$ 634,500 $ 567,000 $ 1,882,000

july-budgeted
280

are computed:

colected
15% 60% 24%

Schedule 2

2X12

4 Year as a Whole
 1800 9000
450 450 10% of next quarter
2250 9450
180 200 given
2070 9250

Schdule 3

MPANY
udget
mber 31, 2X12

4 Year as a Whole
2070 9250
3 3 given
6210 27750
1000 1000 20% 0f next quarter unit
7210 28750
1242 1177.5
5968 27572.5
8 8 given
47744 220580
e $61,000 (12,200 units " $5 per unit).

$ 6,275 from balanced perode seblumnya

$ 41,364
$ 66,240 50% paid in quater of purchase and 50% next quarter
32616 $ 65,232
23872 $ 23,872
$ 56,488 $ 202,983

schedule 4
ANY
et
er 31, 2X12

4 Year as a Whole
2070 9250
 3 3 given
6210 27750
10 10 given
$ 62,100 $ 277,500

Shedule 5
MPANY
Budget
mber 31, 2X12

4 Year as a Whole
6210 27750
2 2 given
12420 55500
27000 108000
39420 163500
6000 24000 given
$ 33,420 $ 139,500

Schedule 6

12

Total
$ 10 lihat schedule 3
$ 50 lihat schedule 4
$ 22 134200/30500 schedule 5
$ 82

LD BUDGET Schedule 7
 Schedule 8

4 Year as a Whole
1800 9000
3 3 asumsi

5400 27000

20000 80000 given

12600
40000 160000
7400 7400
$ 72,800 $ 287,000

Schedule 9

3 4 Year as a Whole
$ 10,000 $ 10,350 $ 19,000 from balansheet tahun seblmnya

$ 634,500 $ 567,000 $ 1,882,000

$ 644,500 $ 577,350 $ 1,901,000

$ 65,736 $ 56,488 $ 202,983

$ 86,400 $ 62,100 $ 277,500
$ 38,280 $ 33,420 $ 139,500
$ 69,000 $ 72,800 $ 287,000
$ - $ - $ 42,000
$ 5,000 $ 5,000 $ 20,000
$ 15,000 $ 15,000 $ 60,000
$ 279,416 $ 244,808 $ 1,028,983
$ 10,000 $ 10,000 $ 10,000
$ 289,416 $ 254,808 $ 1,038,983
$ 355,084 $ 322,542 $ 862,017

$ - $ - $ 80,000
$ (45,000) $ (35,000) $ (80,000)
$ (3,000) $ (2,625) $ (5,625)
$ (48,000) $ (37,625) $ (5,625)
$ 317,084 $ 294,917 $ 866,392

Shedule 10

estimasi

100000
from blansheet tahun sebelumnya
250000
74000

6275

77575