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MasterBudgetTemplate_StudentVersion_ACCU20212.xlsx
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Master Budget P9-57

Master Budget (P9-63A) GRADING:
Student Name: HIDE/LOCK
CASH COLLECTIONS BUDGET:
Cell Ref Correct answer Correct/Incorrect Points Awarded
SALES BUDGET: D14 24,000 INCORRECT 0
Jan Feb Mar Quarter D15 49,000 INCORRECT 0
Budgeted unit sales D16 73,000 INCORRECT 0
Selling price per unit E14 27,600 INCORRECT 0
Total Sales E15 56,000 INCORRECT 0
E16 83,600 INCORRECT 0
F14 29,700 INCORRECT 0
SCHEDULE OF EXPECTED CASH COLLECTIONS: F15 64,400 INCORRECT 0
Jan Feb Mar Quarter F16 94,100 INCORRECT 0
Cash sales G16 250,700 INCORRECT 0
Credit sales TOTAL 0
Total Cash Collections
PRODUCTION BUDGET:
PRODUCTION BUDGET: D23 10,300 INCORRECT 0
Jan Feb Mar Quarter Apr D24 2,000 INCORRECT 0
Budgeted unit sales D25 8,300 INCORRECT 0
Add desired ending inventory E23 11,675 INCORRECT 0
Total needs E24 2,300 INCORRECT 0
Less beginning inventory E25 9,375 INCORRECT 0
Units to produce F23 12,325 INCORRECT 0
F24 2,475 INCORRECT 0
DIRECT MATERIALS BUDGET: F25 9,850 INCORRECT 0
Jan Feb Mar Quarter Apr G25 27,525 INCORRECT 0
Units to be produced TOTAL 0
Multiply by: Quantity of DM needed per unit
Quantity of DM needed for production
Plus: Desired ending inventory of DM DM BUDGET:
Total quantity of DM needed D33 18,475 INCORRECT 0
Less beginning inventory of DM D35 16,815 INCORRECT 0
Quantity of DM to purchase D37 33,630 INCORRECT 0
Multiply by: Cost per pound E33 20,720 INCORRECT 0
Total cost of DM purchases E35 18,845 INCORRECT 0
E37 37,690 INCORRECT 0
F33 21,580 INCORRECT 0
CASH PAYMENTS FOR DM PURCHASES: F35 19,610 INCORRECT 0
Jan Feb Mar Quarter F37 39,220 INCORRECT 0
Accounts payable G37 110,540 INCORRECT 0
Januray purchases TOTAL 0
February purchases
March purchases
Total cash payments CASH PAYMENT FOR DM PURCHASES
D46 49,126 INCORRECT 0
E46 34,442 INCORRECT 0
CASH PAYMENTS FOR DIRECT LABOR: F46 37,996 INCORRECT 0
Jan Feb Mar Quarter G46 121,564 INCORRECT 0
Direct labor TOTAL 0
CASH PAYMENT FOR DIRECT LABOR
D51 996 INCORRECT 0
CASH PAYMENTS FOR MANUFACTURING OVERHEAD E51 1125 INCORRECT 0
Jan Feb Mar Quarter F51 1182 INCORRECT 0
Variable manufacturing overhead costs G51 3303 INCORRECT 0
Rent (fixed) TOTAL 0
Other MOH (fixed)
Total cash payments CASH PAYMENT FOR MOH
D60 17960 INCORRECT 0
E60 19250 INCORRECT 0
CASH PAYMENTS FOR OPERATING EXPENSES F60 19820 INCORRECT 0
Jan Feb Mar Quarter G60 57030 INCORRECT 0
Variable operating expenses TOTAL 0
Fixed operating expenses
Total cash payments CASH PAYMENT FOR OPERATING EXPENSES
D67 9000 INCORRECT 0
E67 10200 INCORRECT 0
CASH BUDGET F67 10900 INCORRECT 0
FOR THE THREE MONTHS ENDING March 31 G67 30100 INCORRECT 0
Jan Feb Mar Quarter TOTAL 0
Cash balance, beginning
Add collections from customers
Total cash available CASH BUDGET
D75 77500 INCORRECT 0
Less cash payments D84 82082 INCORRECT 0
DM purchases D91 9000 INCORRECT 0
Direct labor D93 4418 INCORRECT 0
MOH costs E75 88018 INCORRECT 0
Operating Expenses E84 87017 INCORRECT 0
Tax Payment E91 3000 INCORRECT 0
Equipment purchases E93 4001 INCORRECT 0
Total Disbursements F75 98101 INCORRECT 0
F84 85898 INCORRECT 0
Ending cash balance before financing F91 -7330 INCORRECT 0
Financing: F93 4873 INCORRECT 0
Borrowings G75 255200 INCORRECT 0
Repayments (enter as a neg. number) G84 254997 INCORRECT 0
Interest payments (enter as a neg. number) G91 4670 INCORRECT 0
Total financing G93 4873 INCORRECT 0
TOTAL 0
Cash balance, ending
BUDGETED MANUFACTURING COST PER UNIT MANUFACTURING COST PER UNIT

Charms: Review the information given about DM, DL, and MOH
Charms: Hint: This is not a sum of the quarter. It is asking for the balance at the end of the quarter
Charms: Hint: This is not a sum of the quarter. It is asking for the balance at the end of the quarter 		D98 4 INCORRECT 0
Direct materials cost per unit D99 0.12 INCORRECT 0
Direct labor cost per unit D100 1.2 INCORRECT 0
Variable manufacturing costs per unit D101 0.8 CORRECT 2
Fixed manufacturing overhead per unit 0.80
Charms: Amount given: based on $ 8,000 fixed ovh per month divided by approx. 10,000 units per month 		D102 6.12 INCORRECT 0
Cost of manufacturing each unit TOTAL 2
Martin Manufacturing
BUDGETED INCOME STATEMENT
FOR THE THREE MONTHS ENDED March 31
INCOME STATEMENT
Sales F108 271000 INCORRECT 0
Less COGS: F109 165852 INCORRECT 0
Gross profit F110 105148 INCORRECT 0
Less expenses:
Operating Expenses F112 30100 INCORRECT 0
Depreciation F113 4600 INCORRECT 0
Operating Income F114 70448 INCORRECT 0
Interest Expense F115 330 INCORRECT 0
Income tax expense
Charms: Round number to the nearest whole dollar. (You can show your work in the cell next to this one or below).
Charms: Hint: This is not a sum of the quarter. It is asking for the balance at the end of the quarter
Charms: Hint: This is not a sum of the quarter. It is asking for the balance at the end of the quarter
Charms: ENTER EXPENSES AS POSITVE NUMBERS 		F116 21035 INCORRECT 0
Net income F117 49083 INCORRECT 0
TOTAL 0
GRADING IS SHOWN TO THE RIGHT---> GRAND TOTAL GRAND TOTAL 2