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Profit & Loss Budget vs. Actual: Central Coast Cellular CH 10

The budget vs actual profit and loss statement for Central Coast Cellular for January 2014 shows that total income was under budget by $275, total costs of goods sold were under budget by $218,125, and total expenses were under budget by $1,037.56, resulting in a net income that was better than budget by $218,887.56.

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Julie Ann Bon
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25 views1 page

Profit & Loss Budget vs. Actual: Central Coast Cellular CH 10

The budget vs actual profit and loss statement for Central Coast Cellular for January 2014 shows that total income was under budget by $275, total costs of goods sold were under budget by $218,125, and total expenses were under budget by $1,037.56, resulting in a net income that was better than budget by $218,887.56.

Uploaded by

Julie Ann Bon
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Central Coast Cellular Ch 10

Profit & Loss Budget vs. Actual


January 2014

Jan 14 Budget ? Over Budget % of Budget


Ordinary Income/Expense
Income
Commissions 1,750.00 2,000.00 -250.00 87.5%
Consulting Income 7,600.00 8,000.00 -400.00 95.0%
Product Sales 10,375.00 10,000.00 375.00 103.8%

Total Income 19,725.00 20,000.00 -275.00 98.6%

Cost of Goods Sold


Cost of Goods Sold 6,875.00 225,000.00 -218,125.00 3.1%

Total COGS 6,875.00 225,000.00 -218,125.00 3.1%

Gross Profit 12,850.00 -205,000.00 217,850.00 -6.3%

Expense
Bank Service Charges 80.00 80.00 0.00 100.0%
Depreciation Expense 1,500.00 1,500.00 0.00 100.0%
Interest Expense 950.00 1,000.00 -50.00 95.0%
Payroll Expenses 9,812.44 10,000.00 -187.56 98.1%
Rent Expense 3,000.00 3,000.00 0.00 100.0%
Telephone Expense 0.00 500.00 -500.00 0.0%
Utilities 0.00 300.00 -300.00 0.0%

Total Expense 15,342.44 16,380.00 -1,037.56 93.7%

Net Ordinary Income -2,492.44 -221,380.00 218,887.56 1.1%

Net Income -2,492.44 -221,380.00 218,887.56 1.1%

Julie Ann Bon Page 1

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