Garabiles 1

Quennie Kate M. Garabiles

John Lerry M. Martinez

ACTG 35 – Strategic Cost Management

BS Accountancy 5

December 15, 2020

Junior Philippine Institute of Accountants- CvSU Chapter

Budgeted Income Statement
For the School Year 2020-2021
REVENUES:
Membership fee (1) Php. 112,250.00
Registration fee (2) 291,850.00
JPIA Merchandise (3) 112,250.00
Total Revenues Php. 516,850.00
LESS: EXPENSES
Rent Expense Php. 80,840.00
Food/Meal Allowance (4) 89,800.00
Prize Expenses 22,681.32
Union Dues (5) 42,655.00
Supplies Expense 6,446.40
Depreciation Expense 3,078.94
Representation Expense 14,598.00
Transportation Allowance 5,072.40
Awards and Certificate 2,258.40
Tarpaulin 2,030.40
Miscellaneous Expense 11,742.30
JPIA Uniform 12,000.00
CAJPIA Merchandise Expense 17,500.00
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Charity Contribution 1,200.00

Total Expense Php. 311,903.56
Net Income Php. 204,946.44
NOTES
NOTE 1: Membership Fee
Estimated Average number of students 449
Multiply: Estimated Membership fee per student Php. 250.00
TOTAL MEMBERSHIP FEE Php. 112,250.00
NOTE 2: Registration fee
Estimated GA Registration Fee per student Php. 300.00
Multiply: Estimated Average number of student 449
TOTAL GA Regstration Fee Php 134,700.00
ADD: Estimated CPA Registration Fee per student Php. 350.00
Multiply: Estimated Average number of student 449 Php.157,150.00
TOTAL Registration Fee Php. 291,850.00
NOTE 3: JPIA Merchandise
Estimated Average number of students 449
Multiply: Estimated JPIA Merch Php. 250.00
TOTAL JPIA Merchandise Php. 112,250.00
NOTE 4: Food/Meal Allowance
Estimated Average number of students 449
Multiply: Estimated Food Allowance in GA and CPA Day Php. 200.00
TOTAL JPIA Merchandise Php. 89,800.00
NOTE 5: Union Dues
Estimated Local Chapter Dues Php. 15.00
Estimated CA JPIA Dues 30.00
Estimated R4 Dues 50.00
TOTAL Php. 95.00
Multiply: Estimated Average number of students 449
TOTAL DUES Php. 42,655.00
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NOTE 6
1. 449 Students is estimated this school year as there are 14 Sections in the program which consist of
38-50 students probably will be lessen as students will drops and fail the course.
2. The estimated increase of student this school year will be 20%

NOTE 7: VARIABLE REVENUE

All revenues will depend on the number of Estimated Students that is enrolled in the program. Those
revenues are Variable Revenue.
NOTE 8: VARIABLE COST AND EXPENSE
Variable Cost- Expenses other than Depreciation Expense that depend on the numbers of students enrolled
in the program
Variable Expense – Rent Expense as it will depend on the organizations plans and activities
Depreciation Expense is a expense occur through passage if time

NOTE 9: ELIMINATED REVENUE AND EXPENSE

Eliminated Revenue (there is uncertainty) - Miscellaneous Income
Donation Income
Other Income
Eliminated Expense – Photocopy and printing Expense as its materiality and can be covered up by the
activity it is used to.