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Victoria Kite Company Master Budget Essay

323 words - 1 page

Master Budget PAGE 2
ACG420- Managerial Accounting & Organizational ControlsVictoria Kite CompanyMaster Budget
Schedule a- Sales Budget

December

January

February

March

Jan-Mar Total

Sales Budget

Credit Sales - 100%

$25,000.00

$62,000.00

$70,000.00

$38,000.00

$170,000.00

Plus Cash Sales - 0 %

Total Sales

$25,000.00

$62,000.00

$70,000.00

$38,000.00

$170,000.00

Schedule b: Cash collections from customers

December

January

February

March

Total

Cash Sales

$25,000

$62,000

$70,000

$38,000

$170,000

Collections from prior month

$25,000

$62,000

$70,000

$38,000

$170,000

Total Collections

$50,000

$124,000

$140,000

$76,000

$340,000

Schedule c- Purchases Budget

December

January

February

March

Desired ending inventory

39050

6000

6000

6000

Plus cost of goods sold

$12,500.00

$31,000.00

$35,000.00

$19,000.00

Total needed

$51,500.00

$37,000.00

$41,000.00

$25,000.00

Less beginning inventory

$16,000.00

$39,050.00

$8,050.00

$6,000.00

Total purchases

35550

0

32950

19000

Schedule d - Cash disbursements for purchases

November

December

January

Total

For October

$35,550.00

$35,550.00

For November

$0.00

$0.00

$0.00

For December

$32,950.00

$32,950.00

$65,900.00

For January

$19,000.00

$19,000.00

Total disbursements

$35,550.00

$32,950.00

$51,950.00

$120,450.00

Schedule e: Operating expense budget

January

February

March

Wages (fixed)

$15,000.00

$15,000.00

$15,000.00

Misc expenses

$2,500.00

$2,500.00

$2,500.00

Rent (fixed)

$250.00

$250.00

$250.00

Rent (variable, 10% of sales over 10,000)

$5,200.00

$6,000.00

$2,800.00

Insurance expired (fixed)

$125.00

$125.00

$125.00

Depreciation (fixed)

$250.00

$250.00

$250.00

Total

$23,325.00

$24,125.00

$20,925.00

Schedule f : Disbursements for operating expenses

January

February

March

Wages (fixed)

$15,000.00

$15,000.00

$15,000.00

Cash dividends (quarterly fixed)

$1,500.00

Misc expenses

$2,500.00

$2,500.00

$2,500.00

Misc fixtures

$3,000.00

Rent (fixed)

$250.00

$250.00

$250.00

Rent (variable, 10% of sales of 10,000)

$5,200.00

$6,000.00

$2,800.00

Insurance expired (fixed)

$125.00

$125.00

$125.00

Depreciation (fixed)

$250.00

$250.00...

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