Sales Budget

January-May 2018
January February March April
Projected Sales - Units 49,000 53,900 59,290 71,148
Unit Selling Price 250.00 250.00 250.00 250.00
Projected Sales 12,250,000.00 13,475,000.00 14,822,500.00 17,787,000.00

Collection Budget
January-May 2018
January February March April
From November Sales 500,000.00
From December Sales
J - (5,000,000 * 50%) 2,500,000.00
F - (5,000,000 * 5%) 250,000.00
From January Sales
Cash Sales 2,450,000.00
J - with discount 2,112,880.00
J - without discount 1,764,000.00
F 4,900,000.00
M 490,000.00
From Febuary Sales
Cash Sales 2,695,000.00
F - with discount 2,324,168.00
F - without discount 1,940,400.00
M 5,390,000.00
A 539,000.00
From March Sales
Cash Sales 2,964,500.00
M - with discount 2,556,584.80
M - without discount 2,134,440.00
A 5,929,000.00
M
From April Sales
Cash Sales 3,557,400.00
A - with discount 3,067,901.76
A - without discount 2,561,328.00
M
From May Sales
Cash Sales
M - with discount
M - without discount
TOTAL 9,326,880.00 12,109,568.00 13,535,524.80 15,654,629.76
 May
78,263
250.00
19,565,700.00
Production Budget
January-March 2018
January February March April
Projected Sales - Units 49,000 53,900 59,290 71,148
Required Ending Balance 43,120 47,432 56,918 62,610
Goods Available for Sale 92,120 101,332 116,208 133,758
Required Beginning Balance 39,200 43,120 47,432 56,918
Projected Production 52,920 58,212 68,776 76,840

Direct Materials Used January February March April

Direct Materials Used - lbs 211,680 232,848 275,104 307,360
x Unit Cost 5.00 5.00 5.00 5.00
Direct Materials Used 1,058,400.00 1,164,240.00 1,375,520.00 1,536,800.00

Direct Labor Cost January February March April

Projected Number of Hours Required 105,840 116,424 137,552 153,680
x Average Labor Cost per Hour 40.00 40.00 40.00 40.00
Projected Labor Cost 4,233,600.00 4,656,960.00 5,502,080.00 6,147,200.00

Factory Overhead January February March April

Projected Number of Hours Required 105,840 116,424 137,552 153,680
x Variable FOH Rate 5.00 5.00 5.00 5.00
Variable FOH 529,200.00 582,120.00 687,760.00 768,400.00
Add: Fixed FOH 500,000.00 500,000.00 500,000.00 500,000.00
Total FOH 1,029,200.00 1,082,120.00 1,187,760.00 1,268,400.00

Total Manufacturing Cost/ COGM 6,321,200.00 6,903,320.00 8,065,360.00 8,952,400.00

 Materials Purchase Schedule January
Projected Materials to be Used 211,680
May June Required Ending Balance 66,570
78,263 86,089 Raw Materials Available for Use 278,250
68,871 Required Beginning Balance 62,336
147,134 Projected Material Purchases - Units 215,914
62,610 x Unit Cost 5.00
84,524 Projected Material Purchases - Peso 1,079,570.00

Accounts Payable Payment Schedule January

December Purchases 600,000.00
January Purchases 647,742.00
338,096 February Purchases
March Purchases
Projected Payments 1,247,742.00
Payable 431,828.00

Labor Cost Payment January

January Incurrence 3,386,880.00
February Incurrence
March Incurrence
Projected Payments 3,386,880.00
Payable 846,720.00

Variable Factory Overhead Cost Payment January

January Incurrence 317,520.00
February Incurrence
March Incurrence
Projected Payments 317,520.00
Payable 211,680.00

Fixed Factory Overhead Cost Payment January

January Incurrence 227,500.00
February Incurrence
March Incurrence
Projected Payments 227,500.00
Payable 122,500.00
 February March April
232,848 275,104 307,360 338,096
75,021 81,472 87,619
307,869 356,576 394,979
66,570 75,021 81,472
241,299 281,555 313,507
5.00 5.00 5.00
1,206,495.00 1,407,775.00 1,567,535.00

February March

431,828.00
723,897.00 482,598.00
844,665.00
1,155,725.00 1,327,263.00
482,598.00 563,110.00

February March
846,720.00
3,725,568.00 931,392.00
4,401,664.00
4,572,288.00 5,333,056.00
931,392.00 1,100,416.00

February March
52,920.00 52,920.00
349,272.00 58,212.00
412,656.00
402,192.00 523,788.00
391,608.00 555,580.00

February March
122,500.00
227,500.00 122,500.00
227,500.00
350,000.00 350,000.00
122,500.00 122,500.00
Projected Income Statement

January February March

Sales 12,250,000.00 13,475,000.00 14,822,500.00
Less: Sales Discount 43,120.00 47,432.00 52,175.20
Net Sales 12,206,880.00 13,427,568.00 14,770,324.80
Cost of Goods Sold
Beginning, Raw Materials 311,680.00 332,850.00 375,105.00
Purchases 1,079,570.00 1,206,495.00 1,407,775.00
Total Raw Materials Available for use 1,391,250.00 1,539,345.00 1,782,880.00
Ending Raw Materials 332,850.00 375,105.00 407,360.00
Direct Materials Used 1,058,400.00 1,164,240.00 1,375,520.00
Direct Labor 4,233,600.00 4,656,960.00 5,502,080.00
FOH 1,029,200.00 1,082,120.00 1,187,760.00
TMC/COGM 6,321,200.00 6,903,320.00 8,065,360.00
Beginning, Finished Goods 4,429,600.00 4,872,560.00 5,359,816.00
Goods Available for Sales 10,750,800.00 11,775,880.00 13,425,176.00
Ending, Finished Goods 4,872,560.00 5,359,816.00 6,431,734.00
Cost of Goods Sold 5,878,240.00 6,416,064.00 6,993,442.00
Gross Profit 6,328,640.00 7,011,504.00 7,776,882.80
Operating Expenses
Selling Expenses
Sales Commission 612,500.00 673,750.00 741,125.00
Depreciation Expense 50,000.00 50,000.00 50,000.00
Other Selling expenses 245,000.00 269,500.00 296,450.00
Total Selling Expense 907,500.00 993,250.00 1,087,575.00
Administrative Expenses
Depreciation - Building 25,000.00 25,000.00 25,000.00
Depreciation - Equipment 15,000.00 15,000.00 15,000.00
Doubtful Accounts Expense 490,000.00 539,000.00 592,900.00
Other Administrative Expense 1,837,500.00 2,021,250.00 2,223,375.00
Total Administrative Expense 2,367,500.00 2,600,250.00 2,856,275.00
Total Operating Expense 3,275,000.00 3,593,500.00 3,943,850.00
Operating Income 3,053,640.00 3,418,004.00 3,833,032.80
Less: Interest Expense 52,500.00 52,500.00 52,500.00
Income before Tax 3,001,140.00 3,365,504.00 3,780,532.80
Less: Income Tax Expense 900,342.00 1,009,651.20 1,134,159.84
Net Income 2,100,798.00 2,355,852.80 2,646,372.96
Selling Expenses Payment January February March
December Incurrence 35,000.00
January Incurrence 612,500.00 245,000.00
February Incurrence 673,750.00 269,500.00
March Incurrence 741,125.00
Projected Payments 647,500.00 918,750.00 1,010,625.00
Payable 245,000.00 269,500.00 296,450.00

Administrative Expenses Payment January February March

January Incurrence 918,750.00 918,750.00
February Incurrence 1,010,625.00 1,010,625.00
March Incurrence 1,111,687.50 2,223,375.00
Projected Payments 918,750.00 1,929,375.00 2,122,312.50
Payable 918,750.00 1,010,625.00 1,111,687.50

Income Tax Expenses Payment January February March

December Incurrence 68,000.00
January Incurrence
February Incurrence
March Incurrence 2,435,322.43
Projected Payments 68,000.00 - 2,435,322.43
Payable 900,342.00 1,909,993.20 608,830.61
Projected Statement of Changes in Equity

January February March

Common Stock
Beginning Balance
Add: Issued shares
Ending Balance

Additional Paid-in Capital

Beginning Balance
Add: Issued shares
Ending Balance

Retained Earnings
Beginning Balance
Add/(Less): Profit/(Loss)
Less: Dividends Declared
Ending Balance

TOTAL SHAREHOLDERS' EQUITY

Cash Budget
January February March
Operating Activities
Collection from sales
Payment for raw materials
Payment for labor
Payment for variable factory overhead
Payment for fixed factory overhead
Payment for selling expenses
Payment for administrative expenses
Payment for Income tax
Net Cash Inflow/(Outflow) from Operating Activities

Investing Activities
Net Cash Inflow/(Outflow) from Investing Activities - - -

Investing Activities
Payment of Dividends
Net Cash Inflow/(Outflow) from Investing Activities

Net Cash Inflow/(Outflow)

Add: Beginning Cash Balance
Ending Cash Balance
April