Emmeline Hoang

Chapter 16-1

12/4/2013

Mike's Surf and Sea

Master Budget
For the year ending December 31, 2004
Sales Budget
Expected Sales (units)
Selling Price per unit ($)
Total Sales ($)

Quarter 1
1,000
12
12,000

Quarter 2
1,050
12
12,600

Quarter 3
1,103
12
13,230

Quarter 4
1,158
12
13,892

Total
4,310
12
51,722

Quarter 3
1,103
116
1,218
110
1,108

Quarter 4
1,158
122
1,279
116
1,163

Total
4,310
453
4,763
431
4,332

Quarter 3
1,108
2
2,216
233
2,449
222
2,227
2.00
4,454

Quarter 4
1,163
2
2,327
244
2,571
233
2,338
2.00
4,677

Total
4,332
2
8,663
910
9,573
866
8,707
2.00
17,413

Production Budget
Expected Sales (units)
Desired Ending Finished Goods Inventory
Total Units Required
Less: Beginning Finished Goods Inventory
Required Unit Production

Quarter 1
1,000
105
1,105
100
1,005

Quarter 2
1,050
110
1,160
105
1,055

Direct Materials Budget

Required Unit Production
Direct Materials per Unit (pounds)
Total pounds needed for production
Desired Ending Raw Materials Inventory
Total Pounds Required
Less: Beginning Raw Materials Inventory
Direct Materials Puchases
Cost per Pound ($)
Total Cost of Direct Materials ($)

Quarter 1
1,005
2
2,010
211
2,221
201
2,020
2.00
4,040

Quarter 2
1,055
2
2,111
222
2,332
211
2,121
2.00
4,242

Emmeline Hoang

Chapter 16-1 analysis

12/4/2013

Mike's Surf and Sea

Master Budget
For the year ending December 31, 2004
Sales Budget
Expected Sales (units)
Selling Price per unit ($)
Total Sales ($)

Quarter 1
2,400
6
14,400

Quarter 2
2,520
6
15,120

Quarter 3
2,646
6
15,876

Quarter 4
2,778
6
16,670

Total
10,344
6
62,066

Quarter 3
2,646
278
2,924
265
2,659

Quarter 4
2,778
292
3,070
278
2,792

Total
10,344
1,086
11,430
894
10,536

Quarter 3
2,659
2
5,318
558
5,877
532
5,345
1.50
8,018

Quarter 4
2,792
2
5,584
586
6,171
558
5,612
1.50
8,418

Total
10,536
2
21,072
2,183
23,255
1,798
21,457
1.50
32,186

Production Budget
Expected Sales (units)
Desired Ending Finished Goods Inventory
Total Units Required
Less: Beginning Finished Goods Inventory
Required Unit Production

Quarter 1
2,400
252
2,652
100
2,552

Quarter 2
2,520
265
2,785
252
2,533

Direct Materials Budget

Required Unit Production
Direct Materials per Unit (pounds)
Total pounds needed for production
Desired Ending Raw Materials Inventory
Total Pounds Required
Less: Beginning Raw Materials Inventory
Direct Materials Puchases
Cost per Pound ($)
Total Cost of Direct Materials ($)

Quarter 1
2,552
2
5,104
507
5,611
201
5,410
1.50
8,114

Quarter 2
2,533
2
5,065
532
5,597
507
5,091
1.50
7,636

Emmeline Hoang

Chapter 16-1 test

12/4/2013

Mike's Surf and Sea

Master Budget
For the year ending December 31, 2004
Sales Budget
Expected Sales (units)
Selling Price per unit ($)
Total Sales ($)

Quarter 1
1,200
10
12,000

Quarter 2
1,260
10
12,600

Quarter 3
1,323
10
13,230

Quarter 4
1,389
10
13,892

Total
5,172
10
51,722

Quarter 3
1,323
139
1,462
132
1,330

Quarter 4
1,389
146
1,535
139
1,396

Total
5,172
543
5,715
497
5,218

Quarter 3
1,330
2
2,659
279
2,938
266
2,673
2.00
5,345

Quarter 4
1,396
2
2,792
293
3,085
279
2,806
2.00
5,612

Total
5,218
2
10,436
1,092
11,528
999
10,528
2.00
21,056

Production Budget
Expected Sales (units)
Desired Ending Finished Goods Inventory
Total Units Required
Less: Beginning Finished Goods Inventory
Required Unit Production

Quarter 1
1,200
126
1,326
100
1,226

Quarter 2
1,260
132
1,392
126
1,266

Direct Materials Budget

Required Unit Production
Direct Materials per Unit (pounds)
Total pounds needed for production
Desired Ending Raw Materials Inventory
Total Pounds Required
Less: Beginning Raw Materials Inventory
Direct Materials Puchases
Cost per Pound ($)
Total Cost of Direct Materials ($)

Quarter 1
1,226
2
2,452
253
2,705
201
2,504
2.00
5,009

Quarter 2
1,266
2
2,533
266
2,799
253
2,545
2.00
5,091

Emmeline Hoang

Chapter 16-2

12/4/2013

Mike's Surf and Sea

Manufacturing Overhead Budget Report
For the year end December 31, 2003

Packaging Department
Direct Labor Hours
Expected
Actual

5,000
4,500
Flexible
Budget

Actual

Favorable F
Difference Unfavorable U

Variable Costs ($)

Indrect Labor
Indirect Materials
Utilities
Total Variable Costs

36,000
22,500
3,375
61,875

27,000
27,000
4,500
58,500

9,000
(4,500)
(1,125)
3,375

F
U
U
F

Fixed Costs ($)

Depreciation
Rent
Insurance
Property Taxes
Total Fixed Costs

2,000
1,200
600
800
4,600

2,000
1,200
600
800
4,600

0
0
0
0
0

F
F
F
F
F

Total Manufacturing Overhead ($)

66,475

63,100

3,375

Emmeline Hoang

Chapter 16-2 test

12/4/2013

Mike's Surf and Sea

Manufacturing Overhead Budget Report
For the year end December 31, 2003

Packaging Department
Direct Labor Hours
Expected
Actual

5,000
6,000
Flexible
Budget

Actual

Difference

Favorable F
Unfavorable U

Variable Costs ($)

Indrect Labor
Indirect Materials
Utilities
Total Variable Costs

48,000
36,000
4,500
88,500

54,000
33,000
3,000
90,000

(6,000)
3,000
1,500
(1,500)

U
F
F
U

Fixed Costs ($)

Depreciation
Rent
Insurance
Property Taxes
Total Fixed Costs

2,000
1,200
600
800
4,600

2,000
1,200
600
800
4,600

0
0
0
0
0

F
F
F
F
F

Total Manufacturing Overhead ($)

93,100

94,600

(1,500)

Mike's Surf and Sea

Monthly Sales Summary
Item

Store

January

February

March

Q1 Sales

T-shirts
Shorts
Accessories
Short Boards
Long Boards
T-shirts
Shorts
Accessories
Short Boards
Long Boards
T-shirts
Shorts
Accessories
Short Boards
Long Boards

Ala Moana
Ala Moana
Ala Moana
Ala Moana
Ala Moana
Kahala
Kahala
Kahala
Kahala
Kahala
Waikiki
Waikiki
Waikiki
Waikiki
Waikiki

671,532
751,678
7,685
854,176
76,589
671,532
751,678
7,685
854,176
765,894
671,532
751,678
7,685
854,176
765,894

672,578
751,789
8,345
846,765
80,085
672,578
751,789
8,345
846,765
80,085
672,578
751,789
8,345
846,765
80,085

680,759
789,675
8,467
836,549
80,136
680,759
789,675
8,467
836,549
80,136
680,759
789,675
8,467
836,549
80,136

2,024,869
2,293,142
24,497
2,537,490
236,810
2,024,869
2,293,142
24,497
2,537,490
926,115
2,024,869
2,293,142
24,497
2,537,490
926,115

8,463,590

7,078,686

7,186,758

22,729,034

Emmeline Hoang

Pivot Table

12/4/13

Mike's Surf and Sea

Monthly and Quarterly Sales Summary
For Quarter 1 of 2004
Row Labels
Accessories
Sum of January
Sum of February
Sum of March
Sum of Q1 Sales
Long Boards
Sum of January
Sum of February
Sum of March
Sum of Q1 Sales
Short Boards
Sum of January
Sum of February
Sum of March
Sum of Q1 Sales
Shorts
Sum of January
Sum of February
Sum of March
Sum of Q1 Sales
T-shirts
Sum of January
Sum of February
Sum of March
Sum of Q1 Sales
Total Sum of January
Total Sum of February
Total Sum of March
Total Sum of Q1 Sales

Column Labels
Ala Moana

Kahala

Waikiki

Grand Total

$7,685
8,345
8,467
24,497

$7,685
8,345
8,467
24,497

$7,685
8,345
8,467
24,497

$23,055
25,035
25,401
73,491

76,589
80,085
80,136
236,810

765,894
80,085
80,136
926,115

765,894
80,085
80,136
926,115

1,608,377
240,255
240,408
2,089,040

854,176
846,765
836,549
2,537,490

854,176
846,765
836,549
2,537,490

854,176
846,765
836,549
2,537,490

2,562,528
2,540,295
2,509,647
7,612,470

751,678
751,789
789,675
2,293,142

751,678
751,789
789,675
2,293,142

751,678
751,789
789,675
2,293,142

2,255,034
2,255,367
2,369,025
6,879,426

671,532
672,578
680,759
2,024,869
2,361,660
2,359,562
2,395,586
$7,116,808

671,532
672,578
680,759
2,024,869
3,050,965
2,359,562
2,395,586
$7,806,113

671,532
672,578
680,759
2,024,869
3,050,965
2,359,562
2,395,586
$7,806,113

2,014,596
2,017,734
2,042,277
6,074,607
8,463,590
7,078,686
7,186,758
$22,729,034

Emmeline Hoang

Subtotal

12/4/13

Mike's Surf and Sea

Monthly Sales Summary
For Quarter 1 of 2004
Item

Store

T-shirts
Shorts
Accessories
Short Boards
Long Boards

Ala Moana
Ala Moana
Ala Moana
Ala Moana
Ala Moana
Ala Moana Total
Kahala
Kahala
Kahala
Kahala
Kahala
Kahala Total
Waikiki
Waikiki
Waikiki
Waikiki
Waikiki
Waikiki Total
Grand Total

T-shirts
Shorts
Accessories
Short Boards
Long Boards
T-shirts
Shorts
Accessories
Short Boards
Long Boards

January

671,532
751,678
7,685
854,176
76,589
2,361,660
671,532
751,678
7,685
854,176
765,894
3,050,965
671,532
751,678
7,685
854,176
765,894
3,050,965
8,463,590

February

672,578
751,789
8,345
846,765
80,085
2,359,562
672,578
751,789
8,345
846,765
80,085
2,359,562
672,578
751,789
8,345
846,765
80,085
2,359,562
7,078,686

March

680,759
789,675
8,467
836,549
80,136
2,395,586
680,759
789,675
8,467
836,549
80,136
2,395,586
680,759
789,675
8,467
836,549
80,136
2,395,586
7,186,758

Q1 Sales

2,024,869
2,293,142
24,497
2,537,490
236,810
7,116,808
2,024,869
2,293,142
24,497
2,537,490
926,115
7,806,113
2,024,869
2,293,142
24,497
2,537,490
926,115
7,806,113
22,729,034