| | | | UB ID |
| | | Example | 50047982 |
| | | Your UB ID here |
| | Jubilee is a manufacturing company. It uses absorption costing for budgeting. |
| | | | amount | unit |
| | Budgeted sales: |
| | | Q1 of 2016 | ERROR:#VALUE! | cases |
| | | Q2 | ERROR:#VALUE! | cases |
| | | Q3 | ERROR:#VALUE! | cases |
| | | Q4 | ERROR:#VALUE! | cases |
| | Unit selling price | | ERROR:#VALUE! | dollars |
| | All sales are on account (on credit). |
| | Collection pattern: |
| | | Cash collected in the quarter of sale | ERROR:#VALUE! |
| | | Cash collected in the quarter following sale | ERROR:#VALUE! |
| | Beginning FG inventory (in units) | | ERROR:#VALUE! | cases |
| | Desired ending FG inventory/next quarter's sales | | ERROR:#VALUE! |
| | Desired ending FG inventory at year end | | ERROR:#VALUE! | cases |
| | Beginning RM inventory (in units) | | 20,000 | pounds |
| | Quantity of DM needed per unit | | 15 | pounds |
| | DM cost per pound | | $0.20 | dollars |
| | Desired ending RM inventory/next quarter's production | | 10% |
| | Desired ending RM inventory at year end | | ERROR:#VALUE! | pounds |
| | Cash payments to suppliers: |
| | | paid in the quarter of purchase | ERROR:#VALUE! | of the purchases |
| | | paid in the quarter following purchase | ERROR:#VALUE! | of the purchases |
| | DL hours per unit | | ERROR:#VALUE! | hours |
| | DL rate per hour | | ERROR:#VALUE! | dollars |
| | Manufacturing overhead |
| | | Variable MOH | $2 | per DLH |
| | | Fixed MOH | ERROR:#VALUE! | per quarter |
| | Noncash MOH |
| | | Depreciation | ERROR:#VALUE! | per quarter |
| | Selling and administrative expenses |
| | | Variable SA | $0.80 | per case |
| | | Fixed SA |
| | | Advertising | $5,000 | per quarter |
| | | Executive Salaries | $5,000 | per quarter |
| | | Insurance | $5,000 | per quarter |
| | | Depreciation | $10,000 | per quarter |
| | Jubilee has an agreement with a local bank that would supply any amount of loan it needs to maintain the minimum cash balance. |
| | Interest is not compounded and paid at the end of each year. |
| | Interest rate for bank loan | | ERROR:#VALUE! | per quarter |
| | Minimum cash balance | | $11,000 |
| | Equipment purchases |
| | | Q1, Q2, Q3 | $0 | per quarter |
| | | Q4 | $5,000 |
| | Cash dividends | | $5,000 | per quarter |
| | | | Jubilee Balance Sheet For the Year Ended Dec 31, 2015 |
| | | Assets |
| | | Current assets: |
| | | Cash | $110,000 |
| | | Accounts receivable | 90,000 |
| | | Raw materials inventory | 4,200 |
| | | Finished goods inventory | 2,600 |
| | | Total current assets | | $206,800 |
| | | Plant and equipment |
| | | Land | 80,000 |
| | | Buildings and equipment | 700,000 |
| | | Accumulated depreciation | (292,000) |
| | | Plant and equipment, net | | 488,000 |
| | | Total assets | | $694,800 |
| | | Liabilities and Stockholders' Equity |
| | | Current liabilities: |
| | | Accounts payable | | ERROR:#VALUE! |
| | | Stockholders' equity: |
| | | Common stock, no par | ERROR:#VALUE! |
| | | Retained earnings | 449,900 |
| | | Total stockholders' equity | | ERROR:#VALUE! |
| | | Total liabilities and stockholders' equity | | ERROR:#VALUE! |
softbro
project2016.xlsx
