Blank Templates for ACC 240 Master Budget Project Names Olivia Normandin & StigErik McElhinney

Schedule a: Sales Budget January February March October November December April
240000 280000 200000 152000 100000 100000 180000

Schedule b: Cash Collections

60% of current month's sales 144000 168000 120000
30% of previous month's sales 30000 72000 84000
10% of second previous month's sales 10000 10000 24000
Total collections 184000 250000 228000

Schedule c: Purchases Budget January February March

Desired ending inventory 24000 24000 24000 Selling price 9
Cost of goods sold 133333 155556 111111 Cost per unit 5
Total needed 157333 179556 135111
Beginning inventory 156200 24000 24000
Purchases 1133 155556 111111

Schedule d: Disbursements for Purchases

100% of previous month's purchases 142200 1133 155556
March 31 accounts payable 111111

Eastern Kite
Cash budget
For the Three Months Ending March 31, 2016

January February March

Cash balance beginning 20000 20800 91667
Minimum cash balance desired 20000 20000 20000
Available cash balance 0 800 71667

Cash receipts and disbursements:

Collections from customers 184000 250000 228000
Payments for merchandise 142200 1133 155556
Rent 32200 1000 1000
Wages and salaries 74000 78000 70000
Miscellaneous expenses 12800 13600 12000
Dividends 6000 0 0
Purchase of fixtures 0 0 12000
Net cash receipts and disbursements -83200 156267 -22556
Excess (deficiency) of cash before
financing -83200 157067 49111
Financing:
Borrowing, at beginning of period 84000
Repayment, at end of period -84000
Simple interest, 10% monthly -1400

Total cash increase (decrease) from

financing 84000 -85400 0

Cash balance, end 20800 91667 69111

 Eastern Kite
Budgeted Income Statement
For the Three Months Ending March 31, 2016
$ per unit % of sales
Sales 720000 9.00 1.00 Note: per unit in cents, % of sales to
Cost of goods sold 400000 two decimal places if expressed as a
Wages and salaries 72000 decimal, or nearest whole percent.
Miscellaneous 14400
Rent 68000
Total variable costs 554400 6.93 0.77
Contribution margin 165600 2.07 0.23
Wages and salaries 150000
Miscellaneous 24000
Rent 3000
Insurance 1500 Breakeven point: Sales units 87681 (round up)
Depreciation 3000 Breakeven point: Sales $ $ 789,130 (round up to $)
Total fixed costs 181500 Margin of safety $ -$ 69,130 (round up to $)
Net income from operations -15900 Margin of safety % -10% (round to whole number)
Interest expense 1400
Net income -17300

Eastern Kite
Budgeted Balance Sheet
March 31, 2016
Assets:
Current assets:
Cash 69111
Accounts receivable 108000
Merchandise inventory 24000
Unexpired insurance 4500 205611
Fixed assets (net) 59000
Total assets 264611

Liabilities and Stockholders' Equity

Liabilities :
Accounts payable 111111
Notes payable 0
Rent payable 68000
Dividends payable 6000 185111
Owners' equity 79500
Total liabilities and owners'' equity 264611