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WASATCH MANUFACTURING
Master Budget
Sales Budget
December January February
Unit sales 5,067 5,340 5,940
Unit selling price $ 15 $ 15 $ 15
Total sales Revenue $ 76,000 $ 80,100 $ 89,100
Req. 1
Req. 2
Production Budget
January February March
Unit sales 5,340 5,940 5,520
Plus: Desired ending inventory 594 552 570
Total needed 5,934 6,492 6,090
Less: Beginning inventory 534 594 552
Units to produce 5,400 5,898 5,538
Req. 3
April May
Req. 4
Req. 5
Req. 6
Req. 7
Req. 8
Req. 9
Req. 10
Damon Manufacturing
Budgeted Income Statement
For the Quarter Ended March 31
Sales $ 252,000
Cost of goods sold -93,912
Gross profit 158,088
Operating expenses 24,360
Depreciation expense 4,400
Operating income 129,328
Less: interest expense -75
Less: provision for income tax 38,776
Net income $90,477
TURING
Quarter
$75,600
$171,640
$247,240
Quarter
$16,800
570
17,370
534
16,836
Quarter
16,836
2
33,672
2,258
35,930
2,160
33,770
$ 1.50
$50,656
Quarter
$43,000
$16,499
$17,478
$3,336
$80,313
Quarter
$6,566
Quarter
$19,500
$8,700
$23,570
$51,770
Quarter
$20,160
$4,200
$24,360
Quarter
$4,460
247,240
251,700
80,313
6,566
51,770
24,360
10,800
33,200
207,009 75
44,691
2,000
-2,000
-75
-75
$44,616