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Project #2 - Budgeting

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Project #2 - Budgeting;Learning Objectives;1) Provide a comprehensive budgeting experience.;2) Exhibit the use of Excel in creating a master budget.;3) Utilize the project to perform sensitivity analysis.;Learning Outcomes;1) Understanding of the inter-relatedness of budgets.;2) Ability to utilize basic formula, cell references, and formatting.;3) Ability to perform sensitivity analysis and make decisions from that analysis.;Requirements;1) Fill in the missing data (Selling Price Per Unit) on the Data Sheet.;2) Utilize your textbook, lecture notes, etc. to complete the budgets.;a) You may not type any numbers on the budget worksheets.;b) Utilize cell references to transfer numbers from the data sheet to the;worksheets.;c) Use formula to perform calculations.;3) Ensure that the Income Statement shows a profit for each month. If not;change the selling price on the Data Sheet until a profit results for each;month.;Excel Help;http://www.gcflearnfree.org/excel2010;Project #2;Sales Projections in Units;January;February;March;April;May;4,600;16,300;32,000;41,000;56,700;Projected Sales Price/Unit;???;Monthly Projected Selling & Administrative Expenses;Variable Cost/Unit;$1.34;Fixed Costs;$3,450;Production;Desired Ending Inventory;Beginning Inventory (new business);4.5%;0;Materials;Desired Ending Inventory;8.0%;Number of Materials per Unit;7.10;Projected Cost/Material Unit;$0.32;Beginning Inventory (new business);Direct Labor;Time per Unit (in hours);Cost per Hour;0;0.25;$10.35;Manufacturing Overhead;Variable Cost/Unit;Fixed Costs;$4.89;$12,430;SALES BUDGET;January;February;Projected Sales in Units;Selling Price per Unit;Anticipated Sales Dollars;37;March;April;SELLING & ADMINISTRATIVE (S&A) EXPENSE BUDGET;January;Sales in Units;Variable S&A Rate/Unit;Anticipated Variable Costs;Fixed S&A Costs;Total Anticipated Selling;Administrative Costs;February;March;PRODUCTION BUDGET;January;Sales in Units;Desired Ending Inventory;Total Units Needed;Beginning Inventory;Total Production in Units;February;March;April;MATERIALS REQUIREMENTS BUDGET;January;Units to be Produced;Material/Unit;Total Production Need;Desired Ending Inventory;Total Materials Needed;Beginning Inventory;Total Materials Needed to be;Purchased;Cost per Unit of Material;Total Material Cost;Material Cost per Unit of Product;February;March;April;DIRECT LABOR BUDGET;January;Number of Units Produced;Direct Labor Hours/Unit;Total Direct Labor Hours;Needed;Cost/Direct Labor Hour;Total Direct Labor Cost;Direct Labor Cost per Unit of Product;February;March;MANUFACTURING OVERHEAD BUDGET;January;February;March;Production in Units;Variable OH Rate/Unit;Anticipated VOH Costs;Fixed OH Costs;Total Anticipated OH Costs;Predetermined OH Rate;Total Estimated OH Costs;Total Estimated DLHs;MOH per Unit;Predetermined MOH rate;DLHs per Unit;MOH per Unit;=;per DLH;Product Cost;Direct Materials;Direct Labor;Manufacturing Overhead;Total Unit Cost;PROJECTED INCOME STATEMENT;January;Sales in Units;Sales Revenue;Cost of Goods Sold;Gross Profit (Margin);Selling and Administrative;(Operating) Expenses;Operating Income;February;March;Attachments;Project_#2_-_Budgeting.xlsx (81.35 KB)

 

Paper#30877 | Written in 18-Jul-2015

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