3 months budget master plan
Prof. Turning point
dimsdale.xlsxsales budget
| Dimsdale sports | |||||
| Monthly Sales Budget | |||||
| Jan Through April 2014 | |||||
| Dec-13 | Jan-14 | Feb-14 | Mar-14 | Apr-14 | |
| actual | budget | budget | budget | budget | |
| Budgeted unit sales | 7250 | 9000 | 11500 | 10000 | |
| Budgeted unit price($) | 53 | 53 | 53 | 53 | |
| Budgeted total sales | 384250 | 477000 | 609500 | 530000 |
marchandise budget
| Dimsales | |||||
| Merchandise Purchases Budget | |||||
| Dec 2013 through april 2014 | |||||
| December-13 | January-14 | February-14 | March-14 | April-14 | |
| ACTUAL | BUDGET | BUDGET | BUDGET | BUDGET | |
| Next month's unit sales | 7,250 | 9,000 | 11,500 | 10,000 | |
| Ending inventory percentage | 20% | 20% | 20% | 20% | 20% |
| Budgeted ending inventory units | 5,000 | 1,450 | 1,800 | 2,300 | 2,000 |
| Add current month's unit sales | 700 | 7,250 | 9,000 | 11,500 | 10,000 |
| Total units needed | 5,700 | 8,700 | 10,800 | 13,800 | 12,000 |
| Deduct beginning inventory units | 3,760 | 5,000 | 1,450 | 1,800 | 2,300 |
| Number of units to be purchased | 1,940 | 3,700 | 9,350 | 12,000 | 9,700 |
| Budgeted cost per unit | 30 | 30 | 30 | 30 | 30 |
| Budgeted cost of purchases | $ 58,200 | $ 111,000 | $ 280,500 | $ 360,000 | $ 291,000 |
selling expense budget
| Dimsdale | |||||
| Selling Expense Budget | |||||
| Dec 2013 through April 2014 | |||||
| December-13 | January-14 | February-14 | March-14 | April-14 | |
| ACTUAL | BUDGET | BUDGET | BUDGET | BUDGET | |
| Variable Costs | |||||
| Budgeted sales | 384,250 | 477,000 | 609,500 | 530,000 | |
| Sales commission % | 20% | 20% | 20% | 20% | 20% |
| Sales commission | - 0 | 76,850 | 95,400 | 121,900 | 106,000 |
| Fixed Costs | |||||
| Sales manager salary | 5,500 | 5,500 | 5,500 | 5,500 | 5,500 |
| Total selling expenses | 5,500 | 82,350 | 100,900 | 127,400 | 111,500 |
g&a expense budget
| Dimdales | |||||
| General & Administrative (G&A) Expense Budget | |||||
| dec 2013 through april 2014 | |||||
| December-13 | January-14 | February-14 | March-14 | April-14 | |
| ACTUAL | BUDGET | BUDGET | BUDGET | BUDGET | |
| Fixed Costs | |||||
| Maintainance expenses | 2100 | 2100 | 2100 | 2100 | 2100 |
| Administrative Salaries | 11,000.00 | 11,000.00 | 11,000.00 | 11,000.00 | 11,000.00 |
| Equipment Depreciation | 5,990.00 | 6,615.00 | 6,910.00 | 6,910.00 | |
| Total G&A expenses | 11,000.00 | 16,990.00 | 17,615.00 | 17,910.00 | 17,910.00 |
cash budget
| December-13 | January-14 | February-14 | March-14 | February-14 | |
| ACTUAL | BUDGET | BUDGET | BUDGET | BUDGET | |
| Budgeted Sales | 384,250 | 477,000 | 609,500 | 530,000 | |
| Ending Accounts Receivable | - 0 | 288,188 | 357,750 | 457,125 | 397,500 |
| Cash Receipts | |||||
| Cash Sales | - 0 | 96,063 | 119,250 | 152,375 | 132,500 |
| Collection of Receivables | - 0 | 288,188 | 357,750 | 457,125 | |
| Total Cash Receipts | 96,063 | 407,438 | 510,125 | 589,625 | |
| Accounts Payable Balance | 111,000 | 280,500 | 360,000 | 291,000 | |
| Cash Disbursements for Merchandise | |||||
| Merchandise Purchases | 58,200 | 111,000 | 280,500 | 360,000 | |
| Beginning cash balance | 36,000 | 38,453 | 375,824 | (44,441) | |
| Receipts from customers | 96,063 | 407,438 | 510,125 | 589,625 | |
| Total cash available | 132,063 | 445,891 | 885,949 | 545,184 | |
| Disbursements | |||||
| Payments for merchandise | 58,200 | 111,000 | 280,500 | 360,000 | |
| Sales commissions | 76,850 | 95,400 | 121,900 | 106,000 | |
| Sales Management Salaries | 5,500 | 5,500 | 5,500 | 5,500 | |
| Administrative salaries | 11,000 | 11,000 | 11,000 | 11,000 | |
| Income taxes | 90,000 | - 0 | - 0 | 28,669 | |
| Dividends | - 0 | 3,000 | - 0 | - 0 | |
| Interest | 1,920 | 1,883 | 3,460 | - 0 | |
| Equipment purchase | - 0 | - 0 | 162,000 | - 0 | |
| Total disbursements | 243,470 | 227,783 | 584,360 | 511,169 | |
| Preliminary balance | (111,408) | 218,107 | 301,589 | 34,015 | |
| Additional borrowing | 149,861 | 9,676 | - 0 | - 0 | |
| Loan repayment | - 0 | 148,041 | (346,030) | - 0 | |
| Ending cash balance | 38,453 | 375,824 | (44,441) | 34,015 | |
| Ending loan balance | 38,453 | 188,314 | 346,030 | - 0 | - 0 |
income statement
| Dimsdale | |||||
| Budgeted Income Statement | |||||
| Dec 2014 through april 2014 | |||||
| September-11 | October-11 | November-11 | December-11 | Q4 Total | |
| ACTUAL | BUDGET | BUDGET | BUDGET | Budget | |
| Sales | 384,250 | 477,000 | 609,500 | 530,000 | |
| Cost of Goods Sold | 217,500 | 270,000 | 345,000 | 300,000 | |
| Gross Profit | 166,750 | 207,000 | 264,500 | 230,000 | |
| Operating Expenses | |||||
| Sales Commissions | 76,850 | 95,400 | 121,900 | 106,000 | |
| Sales Managerment Salaries | 5,500 | 5,500 | 5,500 | 5,500 | |
| Administrative Salaries | 11,000 | 11,000 | 11,000 | 11,000 | |
| Equipment Depreciation | 5,990 | 6,615 | 6,910 | 6,910 | |
| Interest Expense | 1,920 | 1,883 | 3,460 | - 0 | |
| Net Income Before Taxes | 65,490 | 86,602 | 115,730 | 100,590 | |
| Income Tax Expense | 28,161 | 37,239 | 49,764 | 43,254 | |
| Net Income | 37,329 | 49,363 | 65,966 | 57,336 | |
balance sheet
| Budgeted Balance Sheet | |||||
| dec 2014 through april 2014 | |||||
| December-13 | January-14 | February-14 | March-14 | April-14 | |
| ACTUAL | BUDGET | BUDGET | BUDGET | BUDGET | |
| Assets | |||||
| Current Assets | |||||
| Cash | 38,453 | 375,824 | (44,441) | 34,015 | |
| Accounts Receivable | 288,188 | 357,750 | 457,125 | 397,500 | |
| Inventory | 150,000 | 43,500 | 54,000 | 69,000 | |
| Total Current Assets | 476,641 | 777,074 | 466,684 | 500,515 | |
| Property, Plant, and Equipment (PP&E) | |||||
| Equipment | 538,000 | 538,000 | 563,000 | 563,000 | |
| Less Accumulated Depreciation | 67,250 | 73,865 | 80,775 | 87,685 | |
| Net Book Value (PP&E) | 605,250 | 611,865 | 643,775 | 650,685 | |
| Total Assets | 1,081,891 | 1,388,939 | 1,110,459 | 1,151,200 | |
| Liabilities & Stockholder's Equity | |||||
| Current Liabilities | |||||
| Accounts Payable | 111,000 | 280,500 | 360,000 | 291,000 | |
| Income Taxes Payable | 8,760 | 15,069 | 28,669 | 57,338 | |
| Bank Loan Payable | 38,453 | 38,453 | 19,628 | - 0 | |
| Total Libilities | 158,213 | 334,022 | 408,297 | 348,338 | |
| Stockholder's Equity | |||||
| Common Stock | 475,000 | 475,000 | 475,000 | 475,000 | |
| Retained Earnings | 235,750 | 235,750 | 235,750 | 235,750 | |
| Total Stockholder's Equity | 710,750 | 710,750 | 710,750 | 710,750 | |
| Total Liabilities & Stockholder's Equity | 868,963 | 1,044,772 | 1,119,047 | 1,059,088 | |
