Professional Documents
Culture Documents
2016 Sales
April 600 beds
May 650 beds
June 900 beds
July 800 beds
August 750 beds
Paint
one 5 gallon pail paints 0.50 bed
Amount of paint desired on hand at the end of the mont 15%
Beginning inventory of Paint in April 2017 51 pails
Paint is expected to cost $ 68 per pail
Fixed Expenses
Fixed selling and administrative Expenses per month 60,000
GSOLoft
Sales Budget for GSOLoft for 2017
For the Quarter Ended June 30,2017
Type of Sales
Cash Sales (40%) $ 158,400 $ 171,600 $ 237,600
Credit Sales (60%) 237,600 257,400 356,400
Total Sales Revenue $ 396,000 $ 429,000 $ 594,000
GSOLoft
Production Budget for GSOLoft
For the Quarter Ended June 30,2017
April May June
GSOLoft
Direct Material Budget for Paint
For the Quarter Ended June 30,2017
April May June
GSOLoft
Direct Labor Budget
For the Quarter Ended June 30,2017
GSOLoft
Manufacturing Overhead Budget
For the Quarter Ended June 30,2017
GSOLoft
Operating Expenses Budget
For the Quarter Ended June 30,2017
GSOLoft
Budgeted Manufacturing Cost per unit budget
For the Quarter Ended June 30,2017
GSOLoft
Budgeted Income Statement
For the Quarter Ended June 30,2017
Sales revenue ( 660 Beds x $600 per bed) $ 396,000 $ 429,000 $ 594,000
Less: Cost of goods sold (660 x $321.5 per bed) $ 236,940 $ 256,685 $ 355,410
Gross Profit $ 159,060 $ 172,315 $ 238,590
Less: Operating Expense $ 159,000 $ 167,250 $ 208,500
Operating Income $ 60 $ 5,065 $ 30,090
Less: Interest expense (or add interest income) $0 $0 $0
Less: Income tax expense $ 18 $ 1,520 $ 9,027
Net Income $ 42 $ 3,546 $ 21,063
Quarter July August
June 30,2017
Quarter July August
2409 869 0
60 60 60
144540 52140
5214
149754
5,368
144,386
$ 2 $ 2 $ 2
$ 288,772
June 30,2017
Quarter July August
2409 869 0
0.5 0.5 0.5
1204.5 434.5 0
130.35 0
1334.85 434.5
51 130.35
1283.85
$ 68 $ 68
$ 87,301.80
June 30,2017
2409 869
8 8
19272 6952
$ 15 $ 15
$ 289,080 $ 104,280
June 30,2017
June 30,2017