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Answer For Module 4,6,7

The document outlines various sales and overhead budgets for Camia's Widgets and Texas Rex Inc. for the years ending December 31, 2019 and 2012, respectively. It includes detailed calculations of units produced, budgeted sales, overhead costs, and cash disbursements, along with a budgeted balance sheet for Allan and Maebeth for the year ending December 31, 2020. Key financial metrics such as net income, cost of goods sold, and total assets are also provided.

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Dale Jimeno
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33 views4 pages

Answer For Module 4,6,7

The document outlines various sales and overhead budgets for Camia's Widgets and Texas Rex Inc. for the years ending December 31, 2019 and 2012, respectively. It includes detailed calculations of units produced, budgeted sales, overhead costs, and cash disbursements, along with a budgeted balance sheet for Allan and Maebeth for the year ending December 31, 2020. Key financial metrics such as net income, cost of goods sold, and total assets are also provided.

Uploaded by

Dale Jimeno
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Camia's Widgets

Sales Budgets
For the year ended December 31, 2019
Quarter
1 2 3
Units P22,000 P19,000 P18,000
Selling Price x P2 x P2 x P2
Budgeted Sales P44,000 P38,000 P46,000
Name: Trixia Dale P. Jimeno

Camia's Widgets
Sales Budgets
For the year ended December 31, 2019
January February March
Sales in units P20,000 P30,000 P45,000
Desired ending i P6,000 (30,000x20%)
P9,000 (45,000
P10,000
x 20%)
(50,000 x 20%)
Total needs P26,000 P38,000 P55,000
Less: Beginning P5,000 P6,000 P9,000
Units to be prod P21,000 P33,000 P46,000
Name: Trixia Dale P. Jimeno

July August September


Units to be prod P23,000 P33,000 P26,000

Desired ending i P29,700 P23,400 P25,200


Production need P69,000 P99,000 P78,000
Total needs P98,700 P122,400 P103,200
Less: Beginning P20,700 P29,700 P23,400
Purchases needed P78,000 P92,700 P79,800
Cost (P20 per lb. P20 P20 P20
Total purchas P1,560,000P1,854,000 P1,596,000
Name: Trixia Dale P. Jimeno
Texas Rex Inc.
Overhead Budget
For the year ended December 31, 2012
Quarter
1 2 3 4 Year
Budgeted Direct Labor Hours 127.2 151.2 192 216 686.4
Variable Overhead Rate x5 x5 x5 x5 x5
Budgeted Variable Overhead Rate P636 P756 P960 P1,080 P3,432
Budgeted Fixed Overhead 1,645 1,645 1,645 1,645 6,580
Total Overhead P2,281 P2,401 P2,605 P2,725 P10,012
Name: Trixia Dale P. Jimeno

Direct Materials:
Plain t-shirt P3.00
Ink (5 oz. @0.20 pesos) 1 P4.00
Direct Labor (0.12 @P10) 1.2
Overhead:
Variable (0.12 hr @P5) 0.6
Fixed (0.12 @P9.59) 1.15
Total Unit Cost P6.95
Name: Trixia Dale P. Jimeno

Texas Rex Inc.


Overhead Budget
For the year ended December 31, 2012
Quarter
1 2 3 4 Year
Planned Sales in Units 1,000 1,200 1,500 2,000 5,700
Variable Selling and Administrative Expenses per unit x 0.10 x 0.10 x 0.10 x 0.10 x 0.10
Total Variable Expenses 100 120 150 200 570
Fixed Selling and Administrative Expenses:
Salaries P1,420 P1,420 P1,420 P1,420 P5,680
Utilities 50 50 50 50 50
Advertising 100 200 800 500 1,600
Depreciation 150 150 150 150 600
Total Fixed Expenses P1,720 P1.820 P2,420 P2,120 P8,080

Total Selling and Administrative Expense Budget P1,820 P1,940 P2,570 P2,320 P8,650
Name: Trixia Dale P. Jimeno
Texas Rex Inc.
Ending Finished Goods Inventory Budget
For the year ended December 31, 2012

Logo T-shirts P200


Unit Cost P6.95
Total Ending Inventory P1.390

Texas Rex Inc.


Ending Finished Goods Inventory Budget
For the year ended December 31, 2012

Direct Materials P22,000


Direct Labor used P6,864
Overhead P10,012
Budgeted Manufacturing Costs P39,756
Beginning Finished Goods P1,251
Goods Available for sale P41,007
Less: Ending Finished Goods -1,390
Budgeted Cost of Goods Sold P39,617

Cash disbursements:
Cash paid for July purchases (60% x P102,000) P 61,200
Cash paid for June purchases (40% x P110,000) 44,000
Cash paid for July selling and admin (P40,000 x 1.05 x 1.05) 44,100
Cash paid for note payment and interest 4,500
Cash paid for income taxes 38,400
Total cash disbursements P192,200 P192,200

Texas Rex Inc.


Ending Finished Goods Inventory Budget
For the year ended December 31, 2012

Sales P57,000
Less: Cost of Goods Sold (P39,617)
Gross Margin P17,383
Less: Selling and Administrative Expenses -8,650
Operating Income P8,733
Less: Interest Income (P60)
Income Before Taxes P8,673
Less: Income Taxes (0.40 x P8,673) -3,469
Net Income P5,204

Allan and Maebeth


Budgeted Balance Sheet
For the year ended December 31, 2020
Assets
Cash P26,000
Accounts Receivable (8% x P500,000) 40,000
Merchandise Inventory 21,000
Equipment P127,000
Less: Accumulated Depreciation 58,000 69,000
Total Assets P156,000

Liabilities and Stockholder’s Equity


Accounts Payable (20% x P21,000) 4,200
Income taxes payable 21,000
Common stock 68,000
Retained earnings (P21,000 + P41,800) 62,800
Total Liabilities and Stockholder’s Equity P156,000

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