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When you carry figures that you have calculated in one output sheet forward to a subsequent output sheet, link these output sheets and do not link the subsequent output sheet again to the input sheet.
? Each budget (i.e. output sheet) must be in its own worksheet.
? Name each worksheet appropriately as follows: Budget number followed by a brief description or abbreviation, e.g. 1 Revenue, 3 DMP, and 5 OH.
? You may also use acronyms, e.g. Q1 (Quarter 1), Q2 (Quarter 2), etc.
? Your output sheets must only contain formulae and links to either the input sheet or previous output sheets if the figure was calculated in a previous budget. Do not type any figures in the cells of your output sheets.


? In essence, ensure you formulate the cells containing figures in all the output worksheets (budgets) in such a way that when you change a numeric value in the input sheet, then the calculations are done automatically in the output sheets.
? Use two (2) decimal places in calculations and show two decimal places in calculations where appropriate. You do not have to show decimal places when there are no cents in figures. For example, show the figure 0.08 with 2 decimal places but do not show the figure 1 as 1.00.
? High professional presentation standards that you will apply when presenting budgets to your employer in the workplace

Projected Sales

       
         

Product

Q1

Q2

Q3

Q4

Azu

6000

7000

8000

9000

Ranna

5000

5500

6200

6800

Selling price per unit

Azu

 $      125

 $      125

 $      135

 $      135

Ranna

 $      160

 $      160

 $      170

 $      170

         
         

2018 Inventories in sales

       
         

Product

1st Jan 2018

31st Dec 2018

   

Azu

4000

5500

   

Ranna

3000

4500

   
         

Uses of Direct Material

       
         

Amount used per unit

 

Direct Material

Unit Usage

Azu

Ranna

 

A

KG

4

5

 

B

KG

2

3

 

C

Each

0

1

 
         

Projected data of material

       
         

Direct Material

Anticipated pur price

Expected opening inventory

Target closing inventory

 

A

 $     8.00

23000

25500

 

B

 $     4.25

1900

1800

 

C

 $     2.80

4000

4600

 
         

Direct manufacturing labour requirement

       
         

Product

Hours per unit

Rate per hour

   

Azu

2.4

 $   14.55

   

Ranna

3.5

 $   16.75

   

Output sheet:

Sales budget:

Sales Budget

 

Product Azu

Reference calculations

Quarter 1

Quarter 2

Quarter 3

Quarter 4

Total

Marks

Sales

6000

7000

8000

9000

21000

 

Selling price

 $                125

 $                125

 $                 135

 $                 135

 $                 385

 

Total sales for AZU

a

 $         750,000

 $         875,000

 $       1,080,000

 $       1,215,000

 $       2,705,000

 
 

Product Ranna

 

Sales

5000

5500

6200

6800

16700

 

Selling price

 $                160

 $                160

 $                 170

 $                 170

 $                 490

 

Total sales for Ranna

b

 $         800,000

 $         880,000

 $       1,054,000

 $       1,156,000

 $       2,734,000

 

 

 

Total sales for both products

 

 $      1,550,000

 $      1,755,000

 $       2,134,000

 $       2,371,000

 $       5,439,000

 
               
               

Reference for calculations

             

a. 6000*125 = 7,50,000

             

b. 5000* $160 = $ 8,00,000

           

C. 7,50,000+8,00,000 = 15,50,000

           

Production budget:

Production Budget (in KG)

 

 

 

 

 

 

Marks

 

Reference calculations

 

 

Product Azu

 

Sales units

    21,000

 

Less: Opening stock

      4,000

 

ADD:  Closing stock

      5,500

 

Production units

a

    22,500

 

 

 

Product Ranna

 

Sales units

    16,700

 

Less: Opening stock

      3,000

 

ADD:  Closing stock

      4,500

 

Production units

b

    18,200

 

 

 

Total Units

c

    40,700

 
       

Reference for calculations

     

a. 21000-4000+5500 = 22,500

     

b. 16700-3000+4500 = 18,200

     

c. 22500+18200 = 40,700

     

Direct material purchase budget:

Direct Material purchase Budget (in KG)

Marks

 

 

Direct Material

 

 

Reference calculations

A

B

C

 

Product Azu

 

Production Units

    22,500

    22,500

    22,500

 

Material Required for each Unit

             4

             2

            -  

 

Total material required

a

    90,000

    45,000

            -  

 

 

 

Product Ranna

 

Production Units

    18,200

    18,200

    18,200

 

Material Required for each Unit

             5

             3

             1

 

Total material required

b

    91,000

    54,600

    18,200

 

 

 

Total material for both products

C

  181,000

    99,600

    18,200

 

 

 

Add: Closing stock

    25,500

      1,800

      4,600

 

Less: Opening stock

    23,000

      1,900

      4,000

 

Total Material purchase

D

  183,500

    99,500

    18,800

 
           

Reference for calculations

         

a. 22500*4 = 90,000

         

b. 18200*5 = 91,000

         

c. 90000+91000 = 1,81,000

         

d. 181000+25500-23000 = 1,83,500

         

Direct material purchase budget:

Direct Material purchase Budget (in dollar)

Marks

 

 

Direct Material

Direct Material

Direct Material

 

 

 

Anu

Anu

Total

 

 

Reference calculations

A

B

C

A

B

C

A

B

C

 

 

 

Material purchase

         90,000

      45,000

            -  

      91,000

      54,600

    18,200

 

Material price

 $          8.00

 $       4.25

 $     2.80

 $       8.00

 $       4.25

 $     2.80

 

Total material purcase amount ($)

a

 $    720,000

 $ 191,250

 $         -  

 $ 728,000

 $ 232,050

 $ 50,960

 $ 1,448,000

 $ 423,300

 $ 50,960

 
                       

Reference for calculations

                     

a. 90000* 8 = $ 7,20,000

                     

Direct manufacturing labour budget:

Direct manufacturing labour budget Budget (in dollar)

Marks

 

 

 

 

 

Reference calculations

 

 

Product Azu

 

Production Units

         22,500

 

Labour hour required for each unit

a

2.4

 

Total labour hour

         54,000

 

Labour rate per hour

 $        14.55

 

Total labour cost

b

 $    785,700

 

 

 

Product Ranna

 

Production Units

         18,200

 

Labour hour required for each unit

3.5

 

Total labour hour

         63,700

 

Labour rate per hour

 $        16.75

 

Total labour cost

 $ 1,066,975

 

 

 

Total labour hour for both products

c

 $ 1,852,675

 
       

Reference for calculations

     

a. 22500*2.4 = 54,000

     

b. 54000 * 14.55 = 7,85,700

     

c. 785700 + 1066975 = 18,52,675

     

Budgeted finished goods inventory:

Budgted finished goods (in KG)

 

 

Marks

 

 

Direct Material

 

 

Reference calculations

A

 

Product Azu

 

Closing inventory (units)

                 5,500

 

Direct Material

a

 $          222,750

 

Direct Labour

b

 $          192,060

 

Value of closing stock unit

a

 $          414,810

 

 

 

Product Ranna

 

Closing inventory (units)

                 4,500

 

Direct Material

 $          249,975

 

Direct Labour

 $          263,813

 

Value of closing stock unit

b

 $          513,788

 

Value of closing stock unit

 

 

Total closing inventory price

c

 $          928,598

 
       

Reference for calculations

     

a. (5500*4*8)+(5500*2*4.25) = 2,22,750

     

b. 5500*2.4*14.5 = 1,92,060

     
Cite This Work

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My Assignment Help. (2021). Projected Sales, Inventories In Sales, Direct Material, Direct Manufacturing And Sales Budget. Retrieved from https://myassignmenthelp.com/free-samples/acct19060-management-accounting/hour.html.

"Projected Sales, Inventories In Sales, Direct Material, Direct Manufacturing And Sales Budget." My Assignment Help, 2021, https://myassignmenthelp.com/free-samples/acct19060-management-accounting/hour.html.

My Assignment Help (2021) Projected Sales, Inventories In Sales, Direct Material, Direct Manufacturing And Sales Budget [Online]. Available from: https://myassignmenthelp.com/free-samples/acct19060-management-accounting/hour.html
[Accessed 19 July 2024].

My Assignment Help. 'Projected Sales, Inventories In Sales, Direct Material, Direct Manufacturing And Sales Budget' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/acct19060-management-accounting/hour.html> accessed 19 July 2024.

My Assignment Help. Projected Sales, Inventories In Sales, Direct Material, Direct Manufacturing And Sales Budget [Internet]. My Assignment Help. 2021 [cited 19 July 2024]. Available from: https://myassignmenthelp.com/free-samples/acct19060-management-accounting/hour.html.

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