BINALBAGAN CATHOLIC COLLEGE

ASSESSMENT NO. 3

GIVE WHAT IS REQUIRED:

1. For the year 2018-19, ABC paid a total salary of P400,000 to its
employees. The budget is required to be prepared for the year 2019-20
concerning the employees’ salary. The management estimates that six
new employees will be hired during the next year, and for each
employee, a salary of P25,000 will be given to each new employee.

Also, it is decided by the company to give an increment to the existing

employees of 10%. What will be the budget of the salary for the
company for the year 2019 –20?

2. XYZ plans to produce balls in the upcoming year ending in 2019. It

forecasted the sales to be P4,000 in quarter 1, P5,000 in quarter 2,
P6,000 in quarter three, and P7,000 in quarter 4. The selling price of the
product for the first two quarters will be P5, which is expected to be
increased to $ 6 in quarter three and quarter four by the sales manager
of the company.

Also, it is expected that the sales discount and the allowance percentage
of the company will continue to be the same in the budgeted period as
well, which is 2 % of the gross sales. Therefore, prepare the sales
Budget for the upcoming year ending in 2019 of Sports international ltd.