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1.
Budget Actual Sales Amount Percent
8" x 10" Frame:
East
Central
West
12" x 16" Frame:
East
Central
West
2. 2017
2016 Percentage Budgeted
Actual Increase Units
Units (Decrease) (rounded)
8" x 10" Frame:
East
Central
West
12" x 16" Frame:
East
Central
West
3.
Unit Sales Unit Selling Total
Product and Area Volume Price Sales
8" x 10" Frame:
East
Central
West
Total
12" x 16" Frame:
East
Central
West
Total
Sales Budget
For the Year Ending December 31, 2017
0%
Increase (Decrease)
Unit Sales, Year Ended 2016
Actual Over Budget
RAPHAEL FRAME COMPANY
Problem 21(6)-1A
Name:
Section:
Score:
Key Code:
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Instructions
Total revenue from sales
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1.
Budget Actual Sales Amount Percent
8" x 10" Frame:
East 8,500 8,755 255 3.00%
Central 6,200 6,510 310 5.00%
West 12,600 12,348 (252) -2.00%
2. 2017
2016 Percentage Budgeted
Actual Increase Units
Units (Decrease) (rounded)
8" x 10" Frame:
East 8,755 3.00% 9,018
Central 6,510 5.00% 6,836
West 12,348 -2.00% 12,101
3.
Unit Sales Unit Selling Total
Product and Area Volume Price Sales
8" x 10" Frame:
East 9,018 $17.00 153,306$
Central 6,836 $17.00 116,212
West 12,101 $17.00 205,717
Problem 21(6)-1A
Name:
Solution
Section:
Score:
Instructions
Sales Budget
For the Year Ending December 31, 2017
Unit Sales, Year Ended 2016
Actual Over Budget
RAPHAEL FRAME COMPANY
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ON
Increase (Decrease)
Key Code:
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Total 12,599 403,168$
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1.
Budget Actual Sales Amount Percent
Home Alert System:
United States
Europe
Asia
Business Alert System:
United States
Europe
Asia
2. 2017
2016 Percentage Budgeted
Actual Increase Units
Units (Decrease) (rounded)
Home Alert System:
United States
Europe
Asia
Business Alert System:
United States
Europe
Asia
3.
Unit Sales Unit Selling Total
Product and Area Volume Price Sales
Home Alert System:
United States
Europe
Asia
Total
Business Alert System:
United States
Europe
Asia
Key Code:
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Instructions
Problem 21(6)-1B
Name:
Section:
Score:
Sales Budget
For the Year Ending December 31, 2017
0%
Increase (Decrease)
Unit Sales, Year Ended 2016
Actual Over Budget
SENTINEL SYSTEMS INC.
Total
Total revenue from sales
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1.
Budget Actual Sales Amount Percent
Home Alert System:
United States 1,700 1,734 34 2.00%
Europe 580 609 29 5.00%
2. 2017
2016 Percentage Budgeted
Actual Increase Units
Units (Decrease) (rounded)
Home Alert System:
United States 1,734 2.00% 1,769
Europe 609 5.00% 639
3.
Unit Sales Unit Selling Total
Product and Area Volume Price Sales
Home Alert System:
United States 1,769 $250 442,250$
Europe 639 $250 159,750
Increase (Decrease)
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Instructions
Sales Budget
For the Year Ending December 31, 2017
Unit Sales, Year Ended 2016
Actual Over Budget
SENTINEL SYSTEMS INC.
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Problem 21(6)-1B
Name:
Solution
Section:
Score:
ON
Total 1,760 1,443,200$
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1.
Unit Sales Unit Selling Total
Product and Area Volume Price Sales
Backyard Chef:
Maine
Vermont
New Hampshire
Total
Master Chef:
Maine
Vermont
New Hampshire
Total
Total revenue from sales
2.
Backyard Master
Chef Chef
Expected units to be sold
Total
Total units to be produced
3.
Grates Stainless Burner Sub- Shelves
(units) Steel (lbs.) assemblies (units) (units) Total
Required units for production:
Backyard Chef
Master Chef
Total
Total units to be purchased
Unit price
Total direct materials to be purchased
4.
Stamping Forming Assembly
Department Department Department Total
Hours required for production:
Direct Labor Cost Budget
For the Month Ending July 31, 2016
For the Month Ending July 31, 2016
GOURMET GRILL COMPANY
GOURMET GRILL COMPANY
Direct Materials Purchases Budget
GOURMET GRILL COMPANY
Production Budget
For the Month Ending July 31, 2016
Units
GOURMET GRILL COMPANY
Sales Budget
For the Month Ending July 31, 2016
0%
Problem 21(6)-2A
Name:
Section:
Score:
Key Code:
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Instructions
Backyard Chef
Master Chef
Total
Hourly rate
Total direct labor cost
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1.
Unit Sales Unit Selling Total
Product and Area Volume Price Sales
Backyard Chef:
Maine 310 $700 217,000$
Vermont 240 $750 180,000
New Hampshire 360 $750 270,000
2.
Backyard Master
Chef Chef
Expected units to be sold 910 440
3.
Grates Stainless Burner Sub- Shelves
(units) Steel (lbs.) assemblies (units) (units) Total
Required units for production:
Backyard Chef 2,760 22,080 1,840 3,680
Master Chef 2,580 18,060 1,720 2,150
340 1,800 155 315
4.
Stamping Forming Assembly
Department Department Department Total
Direct Labor Cost Budget
For the Month Ending July 31, 2016
Plus desired inventory, July 31, 2016
For the Month Ending July 31, 2016
GOURMET GRILL COMPANY
GOURMET GRILL COMPANY
Direct Materials Purchases Budget
GOURMET GRILL COMPANY
Production Budget
For the Month Ending July 31, 2016
Units
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Score:
Instructions
GOURMET GRILL COMPANY
Sales Budget
For the Month Ending July 31, 2016
Problem 21(6)-2A
Name:
Solution
Section:
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ON
Hours required for production:
Backyard Chef 460 552 920
Master Chef 258 344 645
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1.
Unit Sales Unit Selling Total
Product and Area Volume Price Sales
King:
Northern Domestic
Southern Domestic
International
Total
Prince:
Northern Domestic
Southern Domestic
International
Total
Total revenue from sales
2.
King Prince
Expected units to be sold
Total
Total units to be produced
3.
Fabric Wood Filler Springs
(sq. yds.) (linear ft.) (cubic ft.) (units) Total
Required units for production:
King
Prince
Total
Total units to be purchased
Unit price
Total direct materials to be purchased
4.
Framing Cutting Upholstery
Department Department Department Total
Hours required for production:
King
Direct Labor Cost Budget
For the Month Ending February 28, 2016
For the Month Ending February 28, 2016
ROYAL FURNITURE COMPANY
ROYAL FURNITURE COMPANY
Direct Materials Purchases Budget
ROYAL FURNITURE COMPANY
Production Budget
For the Month Ending February 28, 2016
Units
ROYAL FURNITURE COMPANY
Sales Budget
For the Month Ending February 28, 2016
0%
Problem 21(6)-2B
Name:
Section:
Score:
Key Code:
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Instructions
Prince
Total
Hourly rate
Total direct labor cost
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1.
Unit Sales Unit Selling Total
Product and Area Volume Price Sales
King:
Northern Domestic 610 $780 475,800$
Southern Domestic 340 $780 265,200
International 360 $850 306,000
Total 1,310 1,047,000$
2.
King Prince
Expected units to be sold 1,310 1,480
80 35
3.
Fabric Wood Filler Springs
(sq. yds.) (linear ft.) (cubic ft.) (units) Total
Required units for production:
King 7,800 49,400 5,460 20,800
Prince 5,960 38,740 5,066 17,880
390 650 300 540
4.
Framing Cutting Upholstery
Department Department Department Total
Hours required for production:
Direct Labor Cost Budget
For the Month Ending February 28, 2016
Plus desired inventory, Feb. 28, 2016
For the Month Ending February 28, 2016
ROYAL FURNITURE COMPANY
ROYAL FURNITURE COMPANY
Direct Materials Purchases Budget
ROYAL FURNITURE COMPANY
Production Budget
For the Month Ending February 28, 2016
Units
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Score:
Instructions
Plus desired inventory, Feb. 28, 2016
ROYAL FURNITURE COMPANY
Sales Budget
For the Month Ending February 28, 2016
Problem 21(6)-2B
Name:
Solution
Section:
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ON
King 1,560 650 1,040
Prince 1,490 596 894
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1.
Unit Sales Unit Selling Total
Product Volume Price Sales
Bird house
Bird feeder
Total revenue from sales
2.
Bird Bird
House Feeder
Expected units to be sold
Total
Total units to be produced
3.
Wood Plastic
(feet) (lbs.) Total
Required units for production:
Bird house
Bird feeder
Total
Total units to be purchased
Unit price
Total direct materials to be purchased
For the Month Ending December 31, 2016
Key Code:
Problem 21(6)-3A
Name:
Section:
FEATHERED FRIENDS INC.
Direct Materials Purchases Budget
FEATHERED FRIENDS INC.
Production Budget
For the Month Ending December 31, 2016
Units
0%
FEATHERED FRIENDS INC.
Sales Budget
For the Month Ending December 31, 2016
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Instructions
Score:
4.
Fabrication Assembly
Department Department Total
Hours required for production:
Bird house
Bird feeder
Total
Hourly rate
Total direct labor cost
5.
Indirect factory wages
Depreciation of plant and equipment
Power and light
Insurance and property tax
Total
6.
Direct materials:
Direct materials purchases
Cost of direct materials available for use
Cost of direct materials placed in production
Direct labor
Factory overhead
Total manufacturing costs
Total work in process during period
Cost of goods manufactured
Cost of finished goods available for sale
Cost of goods sold
Supporting calculations:
Units Cost Total
Finished goods inventory, Dec. 1, 2016:
Bird house
Bird feeder
Total
Finished goods inventory, Dec. 31, 2016:
FEATHERED FRIENDS INC.
FEATHERED FRIENDS INC.
Cost of Goods Sold Budget
For the Month Ending December 31, 2016
FEATHERED FRIENDS INC.
Factory Overhead Cost Budget
For the Month Ending December 31, 2016
Direct Labor Cost Budget
For the Month Ending December 31, 2016
Bird house
Bird feeder
Total
Direct materials inventory, December 1, 2016
Wood
Plastic
Total
Direct materials inventory, December 31, 2016
Wood
Plastic
Total
7.
Selling expenses:
Total selling expenses
Administrative expenses:
Total administrative expenses
Total operating expenses
8.
Revenue from sales
Cost of goods sold
Gross profit
Operating expenses:
Selling expenses
Administrative expenses
Total operating expenses
Income from operations
Other income
Interest revenue
Other expense:
Interest expense
Income before income tax
Income tax expense
Net income
Budgeted Income Statement
For the Month Ending December 31, 2016
For the Month Ending December 31, 2016
FEATHERED FRIENDS INC.
FEATHERED FRIENDS INC.
Selling and Administrative Expenses Budget
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1.
Unit Sales Unit Selling Total
Product Volume Price Sales
Bird house 3,200 $50.00 160,000$
Bird feeder 3,000 $70.00 210,000
2.
Bird Bird
House Feeder
Expected units to be sold 3,200 3,000
3.
Wood Plastic
(feet) (lbs.) Total
Required units for production:
Bird house 2,536 1,585
Bird feeder 3,576 2,235
220 200
4.
For the Month Ending December 31, 2016
Plus desired inventory, Dec. 31, 2016
Problem 21(6)-3A
Name:
Solution
Section:
Direct Materials Purchases Budget
FEATHERED FRIENDS INC.
Production Budget
For the Month Ending December 31, 2016
Units
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Score:
Instructions
FEATHERED FRIENDS INC.
Sales Budget
For the Month Ending December 31, 2016
ON
FEATHERED FRIENDS INC.
