Presentasi Kelompok 12

Maria Erika
Andi syahputra
Kevin Perdana
Simson

Penjelasan Kasus

Questions
1.

Prepare a master budget for the

three months period ending June 30.
Include
the following detailed
budgets:
.
.
.

A sales budget, by month and in a total.

A schedule of expected cash collection from
sales by month and in total.
A merchandise purchases budget in units and
in dollars. Show the budget by month and in
total.
A shedule of expected cash disbursements for

Answer
Sales budget:
April

May

June

Quarter
Budgeted unit sales ..... 65,000 100,000
50,000
215,000
Selling price per unit .... $10
$10
$10
$10
Total sales................... $650,000 $1,000,000 $500,000
$2,150,000

Schedule of expected cash collections:

February sales (10%) $26,000
$26,000
March sales
(70%, 10%) .............
280,000
$ 40,000
320,000
April sales
(20%, 70%, 10%) ....
130,000
455,000
$ 65,000
650,000
May sales
(20%, 70%) .............
200,000
700,000 900,000
June sales (20%).........
100,000
100,000
Total cash collections ...$436,000 $695,000
$1,996,000

$865,000

Budgeted merchandise purchases:

Budgeted unit sales .....
Add desired ending
inventory* ................
Total needs ................ .
Less:
beginning inventory.
Required purchases......
Cost of purchases at
$4 per unit................

65,000

100,000

50,000

215,000

40,000
105,000

20,000
120,000

12,000
62,000

12,000
227,000

26,000
79,000

40,000
80,000

20,000
42,000

26,000
201,000

$316,000 $320,000 $168,000 $804,000

*40% of the next months unit sales.

Expected cash payments for merchandise purchases:

Accounts payable .......... $100,000
April purchases ............. 158,000
316,000
May purchases..............

$100,000
$158,000

160,000 160,000

June purchases.............
84,000
Total cash payments ..... $258,000
$820,000

320,000
84,000

$318,000 $244,000

EARRINGS UNLIMITED
Cash Budget
For the Three Months Ending June 30

April
Cash balance ................. $ 74,000
Add collections from
customers ...................
436,000
Total cash available ........ 510,000
Less disbursements:
Merchandise purchases
Advertising ..................
Rent ...........................
Salaries.......................
Commissions (4% of
sales) .......................
Utilities .......................
Equipment purchases ...
Dividends paid.............
Total disbursements........

May
$ 50,000

June
$ 50,000

Quarter
$ 74,000

695,000
745,000

865,000
915,000

1,996,000
2,070,000

258,000
200,000
18,000
106,000

318,000
200,000
18,000
106,000

244,000
200,000
18,000
106,000

820,000
600,000
54,000
318,000

26,000
7,000

15,000
630,000

40,000
7,000
16,000

705,000

20,000
7,000
40,000

635,000

86,000
21,000
56,000
15,000
1,970,000

40,000

280,000

100,000

10,000

10,000

(180,000)
(5,300)
(185,300)

Excess (deficiency) of
receipts over disbursements
........................................(120,000)
Financing:
Borrowings..................
170,000
Repayments ................

Interest.......................

Total financing ............... 170,000

Cash balance, ending...... $ 50,000
* $170,000 12% 3/12 .... $5,100
$ 10,000
12% 2/12....
200
Total interest ..................... $ 5,300

$ 50,000

$ 94,700

180,000
(180,000)
* (5,300)
(5,300)
$ 94,700

EARRINGS UNLIMITED
Budgeted Income Statement
For the Three Months Ended June 30

Sales revenue (Part 1 a.) ...........................

Less variable expenses:
Cost of goods sold @ $4 per unit .........$860,000
Commissions @ 4% of sales.................... 86,000
Contribution margin ..................................
Less fixed expenses:
Advertising ($200,000 3) ..................... 600,000
Rent ($18,000 3) ................................
54,000
Salaries ($106,000 3) .......................... 318,000
Utilities ($7,000 3)...............................
21,000
Insurance ($3,000 3)...........................
9,000
Depreciation ($14,000 3) ..................... 42,000
Net operating income ................................
Less interest expense (Part 2) ....................
Net income...............................................

$2,150,000
946,000
1,204,000

1,044,000
160,000
5,300
$ 154,700

EARRINGS UNLIMITED
Budgeted Balance Sheet
June 30

Assets
Cash ............................................................................ $ 94,700
Accounts receivable (see below) .................................... 500,000
Inventory (12,000 units @ $4 per unit)........................... 48,000
Prepaid insurance ($21,000 $9,000) ............................ 12,000
Property and equipment, net
($950,000 + $56,000 $42,000).................................
964,000
Total assets .................................................................. $1,618,700
Liabilities and Stockholders Equity
Accounts payable, purchases (50% $168,000) ............. $ 84,000
Dividends payable ......................................................... 15,000
Capital stock................................................................. 800,000
Retained earnings (see below) .......................................719,700
Total liabilities and stockholders equity.......................$1,618,700
Accounts receivable at June 30:
10% May sales of $1,000,000............. $100,000
80% June sales of $500,000............... 400,000
Total .................................................... $500,000
Retained earnings at June 30:
Balance, March 31 ................................ $580,000
Add net income (part 3) ........................ 154,700
Total .................................................... 734,700
Less dividends declared......................... 15,000