Cost Accounting

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Inputs

Direct Materials Total CVP Analysis
Total Variable Costs Per unit
Sales Price Per unit
Variable costs $ 3.65
Markup 300%
Sale price $ 10.95
Contribution Margin Per unit
Total cost of direct materials, per batch $ 0.15 Selling price $ 10.95
Number cookies per batch 9.00 less: Total variable costs $ 3.65
Cost of direct materials per cookie 0.02 $ 7.30
Times cookies in sales unit 9.00
Total cost of direct materials, per unit $ 0.15
Direct Labor Total
Total cost of direct labor, per batch $ 3.05
Number cookies per batch 9.00
Cost of direct labor per cookie 0.34
Times cookies in sales unit 9.00
Total cost of direct labor, per unit $ 3.05
Variable Manufacturing Overhead Total
Total cost of variable MOH, per batch $ 0.20
Number cookies per batch 9.00
Cost of VMOH per cookie 0.02
Times cookies in sales unit 9.00
Total cost of VMOH, per unit $ 0.20
Variable Operating Expenses Total
Total cost of variable operating expenses, per unit $ 0.25
Fixed Manufacturing Expenses, Per Month Total
Total cost of fixed manufacturing expenses, per month $ 2,500
Less: Depreciation Expense 800
Total cash paid for fixed manufacturing expenses $ 1,700
Fixed Operating Expenses Total
Total cost of fixed operating expenses, per month $ 4,000
Less: Depreciation Expense 250
Total cash paid for fixed operating expenses $ 3,750

Operating Budgets

Sales & Cash Collections Budget
Jan Feb Mar QTR APR MAY
Units Sold 2,768 8,919 2,060 13,747 5,932 3,602
Selling price per unit $ 10.95 $ 10.95 $ 10.95 $ 10.95 $ 10.95 $ 10.95
Total sales $ 30,310 $ 97,663 $ 22,557 $ 150,530 64955.4 39441.9
Cash collected, CM $ 18,186 $ 58,598 $ 13,534 38973.24 23665.14
Cash collected, 1M $ 7,577 $ 24,416 $ 5,639.25 9743.31
Cash collected, 2M $ 4,546 $ 14,649.46 $ 3,383.55
Total cash collected $ 18,186 $ 66,175 $ 42,496 $ 126,857 59261.9475 36792
Production Budget
Jan Feb Mar QTR APR MAY
Units Sold 2,768 8,919 2,060 13,747 5,932 3,602
Add: Desired Ending Inventory 2,319 536 1,542 4,397 937 - 0
Units needed 5,087 9,455 3,602 18,144 6,869 3,602
Less: Beginning Inventory 2,319 536 2,855 1,542 4,397
Units to produce 5,087 7,136 3,067 15,289 5,326 (795)
Direct Materials Cash Budget
Jan Feb Mar QTR APR MAY
Units to produce 5,087 7,136 3,067 15,289 5,326 (795)
Add: Desired Ending Inventory 1,142 491 852 (127) - 0
DM Needed for production 6,229 7,626 3,919 17,774 5,199 (795)
Less: Beginning Inventory - 0 1,142 491 852 (127)
Units of DM Needed 6,229 6,485 3,428 16,142 4,347 (668)
x Cost of DM per unit $ 0.15 $ 0.15 $ 0.15 $ 0.15
Total cost of DM $ 934 $ 973 $ 514 $ 2,421
Paid in CM $ 374 $ 389 $ 206
Paid in 1M $ 374 $ 389
Paid in 2M $ 187
Total cash paid $ 374 $ 763 $ 782 $ 1,918
Direct Labor Payments Budget
Jan Feb Mar QTR
Units to produce 5,087 7,136 3,067 15,289
x Direct labor cost per unit $ 3.05 $ 3.05 $ 3.05 $ 3.05
Total cost of direct labor $ 15,515 $ 21,764 $ 9,353 $ 46,632
Manufacturing Overhead Cash Payments Budget
Jan Feb Mar QTR
Units to produce 5,087 7,136 3,067 15,289
x Variable MOH rate $ 0.20 $ 0.20 $ 0.20 $ 0.20
Total Variable MOH 1,017 1,427 613 3,058
Add: FMOH Cash Payments $ 1,700 $ 1,700 $ 1,700
Total MOH Cash Payments $ 2,717 $ 3,127 $ 2,313 $ 8,158
Add: Non-Cash FMOH $ 800 $ 800 $ 800
Total MOH $ 3,517 $ 3,927 $ 3,113 $ 10,558
Operating Expense Cash Payments Budget
Jan Feb Mar QTR
Units Sold 2,768 8,919 2,060
x Variable OpExp rate $ 0.25 $ 0.25 $ 0.25
Total Variable OpExp $ 692 $ 2,230 $ 515 $ 3,437
Add: FOpEx Cash Payments $ 3,750 $ 3,750 $ 3,750 $ 11,250
Total OpEx Cash Payments $ 4,442 $ 5,980 $ 4,265 $ 14,687
Add: Non-Cash FOpEx $ 250 $ 250 $ 250 $ 750
Total OpEx $ 4,692 $ 6,230 $ 4,515 $ 15,437

Financial Budgets

Cost to manufacture per unit
QTR
DM per unit 0.15
DL per unit 3.05
VMOH per unit 0.20
Total variable manufacturing cost 3.40
Total FMOH 5,100.00
/ Units produced 15,289
FMOH per unit produced 0.33
Total CoGS per unit $ 3.73
Your Cookie Co.
Combined Cash Budget
For the months and quarter ended,
Jan Feb Mar QTR
Beginning Cash $ - 0 $ 59,887 $ 94,179
Add: Owner contributions $ 45,000 $ - 0 $ - 0
Proceeds from loan $ 20,000 $ - 0 $ - 0
Cash collections $ 18,186 $ 66,175 $ 42,496
Cash Available $ 83,186 $ 126,063 $ 136,676
Less: Payments for DM $ 374 $ 763 $ 782
Payments for DL $ 15,515 $ 21,764 $ 9,353
Payments for MOH $ 2,717 $ 3,127 $ 2,313
Payments for OpExp $ 4,692 $ 6,230 $ 4,515
Capital expenditures
Cash payments $ 23,298 $ 31,883 $ 16,963
Cash before financing $ 59,887 $ 94,179 $ 119,712
Add: Cash from (paid to) line of credit
Less: Interest paid
Ending cash $ 59,887 $ 94,179 $ 119,712
Interest Calculations:
Outstanding Debt
Interest $ - 0
Your Cookie Co.
Income Statement (Absorption)
For the quarter ended,
QTR
Sales revenue $ 150,530
Less: Cost of Goods Sold
Total CoGS per unit $ 3.73
x Units sold 13,747
Total CoGS $ 51,325
Gross Profit $ 99,204
Less: Operating expenses
Variable OpEx per unit $ 0.25
x Units sold 13,747
Total Variable OpEx $ 3,437
Add: Fixed OpEx $ 11,250
Total OpEx $ 14,687
Operating income (loss) $ 84,518
Less: Interest expense $ - 0
Net Income (Loss) $ 84,518
Your Cookie Co.
Balance Sheet
For the quarter ended,
QTR
Assets
Cash 119,712.21
Accounts Receivable 23,672.26
Inventory, Raw Materials 852.19
Inventory, Finished Goods 1,542.32
Equipment 85,000.00
Less: Accumulated Depreciation 3,150.00
Total Assets 227,628.98
Liabilities
Accounts Payable 503.08
Line of credit 77,608.33
Bank loan 20,000.00
Total Liabilities 98,111.41
Equity
Common Stock 45,000.00
Retained earnings 84,517.57
Total Equity 129,517.57
Total Liabilities and Equity 227,628.98