Costbudget
Costbudget
Costbudget
Inventory, Units
Direct Materials: Beg Inv End Inv
Plastic (ounces) 600 800
Metal (ounces) 500 500
Glass (ounces) 1000 1000
Finished Goods
Plastic Framed Eyeglasses 700 400
Metal Framed Eyeglasses 400 375
Total 5950000.00
Above Average Glasses
Revenue Budget Breakdown by Month
For the Year Ending 31 December 2017
Jan
Feb
Mar
8% 10% Apr
8% 6%
May
6%
9%
June
7%
10%
July
7%
Aug
12% 7%
10% Sept
Oct
Nov
Dec
Monthly Revenue Breakdown:
Metal Framed Eyeglasses
0.12
0.10
0.08
0.06
0.04
0.02
0.00
1
1.00
1.00
9,700.00
8,975.00
Production Units Budget
Breakdown by Month for
Plastic Framed Glasses
January
February
March
April
May
June
July
August
September
October
November
December
January
February
March
9%
8% 7%
7% April
6%
10%
8%
May
10% 7% June
8%
11%
9% July
August
September
October
Above Average Glasses
Schedule 3A: Annual Direct Materials Usage Budget
In Quantities and Dollars
For the Year Ending 31 December 2018
Plastic Framed
Eyeglasses
Physical Units Budget: Total
Plastic 4,850
Metal 0
Glass 9,700
Cost Budget:
Available from Beginning Inventory:
Plastic $2,970
Metal 0
Glass 9,750 $12,720
To be used from purchases, current period:
Plastic $21,250
Metal 0
Glass 87000 $108,250
$0 $2,970
3,250 3250
- $3,250 $9,750 $15,970
0 $21,250
43,618.75 43,618.75
89,750 $133,368.75 176,750 $241,618.75
$136,618.75 $257,588.75
Above Average Glasses
Direct Materials Usage Budget Breakdown by Month
For the Year Ending 31 December 2018
January February
Physical Units: Plastic Frames
Plastic (ounces) 291 339.5
Glass (ounces) 582 679
Company Totals:
Physical Units:
Plastic (ounces) 291.00 339.50
Metal (ounces) 471.19 471.19
Glass (ounces) 1210.25 1307.25
Cost of Direct Materials:
From Beginning Inventory
Plastic $1,440.45 $1,529.55
Metal $3,062.72 $187.28
Glass $5,674.50 $4,075.50
To Be Used From Purchases:
Plastic $0.00 $152.50
Metal $0.00 $3,096.63
Glass $6,282.50 $8,892.50
1600
1400
1200
1000
Glass (ounces)
800
Plastic (ounces)
600
400
200
0
DM Usage Chart-Metal Framed Eyeglasses
1200.00
1000.00
800.00
600.00
400.00
200.00
0.00
DM Usage Budget Monthly Breakdown-Plastic Frames ($$$)
$16,000.00
$14,000.00
$12,000.00
$10,000.00
$8,000.00
$6,000.00
$4,000.00
$2,000.00
$0.00
DM USAGE BUDGET MONTHLY BREAKDOWN-METAL FRAMES ($$$)
$16,000.00
$14,000.00
$12,000.00
$10,000.00
$8,000.00
$6,000.00
$4,000.00
$2,000.00
$0.00
Above Average Glasses
Schedule 3B: Annual Direct Materials Purchases Budget
For the Year Ending 31 December 2018
Cost Budget:
Plastic $25,250.00
Metal $47,118.75
Glass $186,750.00
Purchases $25,250.00 $47,118.75 $186,750.00
Total
$259,118.75
Above Average Glasses
Direct Materials Purchase Budget Breakdown by Month
For the Year Ending 31 December 2018
Company Total:
Physical Units
Plastic (ounces) 0.00 130.50 388.00
Metal (ounces) 0.00 542.38 403.88
Glass (ounces) 628.25 1,014.25 1,314.50
Costs:
Plastic (per ounce) $0.00 $652.50 $1,940.00
Metal (per ounce) $0.00 $3,796.63 2827.125
Glass (per ounce) $6,282.50 $10,142.50 $13,145.00
December
November
October
September
August
July
June
May
April
March
February
January
DM Purchase Monthly Budget
Breakdown-Metal Frames
$16,000.00
$14,000.00
$12,000.00
$10,000.00
$8,000.00
$6,000.00
$4,000.00
$2,000.00
$0.00
January
May
September
February
March
April
June
July
August
October
November
December
DM PURCHASE MONTHLY BUDGET BREAKDOWN-TOTAL
January February
December
March
November
April
October May
June
September
July
August
Above Average Glasses
Schedule 4: Annual Direct Manufacturing Labor Budget
For the Year Ending 31 December 2018
19,400.00
26,925.00
9,337.50
55,662.50
$155,200.00
$215,400.00
$74,700.00
$445,300.00
Above Average Glasses
Direct Manufacturing Labor Budget Breakdown by Month
For the Year Ending 31 December 2018
Labor Costs
Sculpting $9,312.00 $10,864.00 $12,416.00 $10,864.00
Finishing 2,328.00 2,716.00 3,104.00 2,716.00
Total Labor Costs $11,640.00 $13,580.00 $15,520.00 $13,580.00
Metal Frames:
Labor Hours
Molding 1,884.75 1,884.75 1,615.50 2,154.00
Finishing 314.13 314.13 269.25 359.00
Total Labor Hours 2,198.88 2,198.88 1,884.75 2,513.00
Labor Costs
Molding $15,078.00 $15,078.00 $12,924.00 $17,232.00
Finishing 2,513.00 2,513.00 2,154.00 2,872.00
Total Labor Costs $17,591.00 $17,591.00 $15,078.00 $20,104.00
Company Total:
Labor Hours
Sculpting 1,164.00 1,358.00 1,552.00 1,358.00
Molding 1,884.75 1,884.75 1,615.50 2,154.00
Finishing 605.13 653.63 657.25 698.50
Total Labor Hours 3,653.88 3,896.38 3,824.75 4,210.50
Labor Cost
Sculpting $9,312.00 $10,864.00 $12,416.00 $10,864.00
Molding $15,078.00 $15,078.00 $12,924.00 $17,232.00
Finishing 4,841.00 5,229.00 5,258.00 5,588.00
Total Labor Costs $29,231.00 $31,171.00 $30,598.00 $33,684.00
May June July August September
3,000.00
2,500.00
2,000.00
1,500.00
1,000.00
500.00
0.00
1
Total Labor Hours-Metal Frames
4,000.00
3,500.00
3,000.00
2,500.00
2,000.00
1,500.00
1,000.00
500.00
0.00
Total Labor Dollars-Plastic Frames
7% 6%
8% 7%
8%
10%
7%
11%
7%
9%
10%
10%
Total Labor Dollars-Metal Frames
January
8% 7% February
7% March
9%
April
6%
May
10%
8% June
July
7% August
10%
September
8% October
11%
9% November
December
Above Average Glasses
Schedule 5: Annual Manufacturing Overhead Budget
For the Year Ending 31 December 2018
$107,224.34 $190,000.00
$186,231.75 $330,000.00
$282,169.32 $500,000.00
$138,262.97 $245,000.00
$100,452.28 $178,000.00
$814,340.67 $1,443,000.00
$169,301.59 $300,000.00
$183,410.06 $325,000.00
$197,518.53 $350,000.00
$112,867.73 $200,000.00
$84,650.80 $150,000.00
$747,748.71 $1,325,000.00
$1,562,089.38 $2,768,000.00
Above Average Glasses
Manufacturing Overhead Monthly Budget Breakdown
For the Year Ending 31 December 2018
Metal Frames
Variable Costs:
Indirect Supplies $7,505.70 $7,505.70 $6,433.46
Indirect Mfg. Labor $13,036.22 $13,036.22 $11,173.91
Power and energy $19,751.85 $19,751.85 $16,930.16
Mfg. Maintenance $9,678.41 $9,678.41 $8,295.78
Miscellaneous $7,031.66 $7,031.66 $6,027.14
Total Variable MOH $57,003.85 $57,003.85 $48,860.44
Fixed Costs:
Depreciation $11,851.11 $11,851.11 $10,158.10
Property Taxes $12,838.70 $12,838.70 $11,004.60
Property insurance $13,826.30 $13,826.30 $11,851.11
Plant Supervision $7,900.74 $7,900.74 $6,772.06
Miscellaneous $5,925.56 $5,925.56 $5,079.05
Total Fixed MOH $52,342.41 $52,342.41 $44,864.92
Company Total
Variable MOH Costs:
Indirect Supplies $12,472.24 $13,300.00 $13,055.51
Indirect Mfg. Labor $21,662.32 $23,100.00 $22,675.36
Power and energy $32,821.69 $35,000.00 $34,356.61
Mfg. Maintenance $16,082.63 $17,150.00 $16,834.74
Miscellaneous $11,684.52 $12,460.00 $12,230.95
Total Variable MOH $94,723.41 $101,010.00 $99,153.19
Metal Frames
Direct Materials:
Metal Per ounce $7.00 0.75 5.25
Glass Per ounce $10.00 1 10
Total Direct Materials
$12.50
$20.00
$124.32
$156.82
15.25
$28.00
$174.05
$217.30
Above Average Glasses
Schedule 6B: Ending Inventories Budget
For Year Ending 31 December 2017
Cost Per
Unit Units
Direct Materials:
Plastic, per ounce $5.00 $800.00 $4,000.00
Metal, per ounce $7.00 $500.00 $3,500.00
Glass, per ounce $10.00 $1,000.00 $10,000.00
Finished Goods:
Plastic Framed Eyeglasses $156.82 $400.00 $62,728.27
Metal Framed Eyeglasses $217.30 $375.00 $81,487.11
$17,500.00
$144,215.38
$161,715.38
Above Average Glasses
Inventories Budget Breakdown by Month - Units
For the Year Ending 31 December 2018
Metal:
Beginning 500.00 28.81 100.00 100.00
(+) Purchases 0.00 542.38 403.88 538.50
(-) Usage 471.19 471.19 403.88 538.50
Balance 28.81 100.00 100.00 100.00
Glass:
Beginning 1,000.00 418.00 125.00 125.00
(+) Purchases 628.25 1,014.25 1,314.50 1,397.00
(-) Usage 1,210.25 1,307.25 1,314.50 1,397.00
Balance 418.00 125.00 125.00 125.00
Finished Goods:
Plastic Frames
Beginning 700.00 282.00 361.00 537.00
(+) Completions) 582.00 679.00 776.00 679.00
(-) Units Sold 1,000.00 600.00 600.00 700.00
Balance 282.00 361.00 537.00 516.00
Metal Frames:
Beginning 400.00 218.25 216.50 215.00
(+) Completions 628.25 628.25 538.50 718.00
(-) Units Sold 810.00 630.00 540.00 720.00
Balance 218.25 216.50 215.00 213.00
May June July August September
$89,984.00 $202,579.00
$136,618.75 $257,588.75
$251,300.00 $445,300.00
$1,562,089.38 $2,768,000.00
$1,950,008.13 $3,470,888.75
$2,039,992.13 $3,673,467.75
$81,487.11 $144,215.38
$1,958,505.02 $3,529,252.37
Above Average Glasses
Cost of Goods Sold Budget Breakdown by Month
For the Year Ending 31 December 2018
January February
Plastic Frames
Beginning FG Inventory $112,595.00 $43,014.64
Direct Materials Used $7,114.95 $8,367.55
Direct Mfg. Labor 11,640.00 13,580.00
Mfg. Overhead 72,354.64 84,413.74
Cost of Goods Mfd $91,109.59 $106,361.29
COG Available-Sale $203,704.59 $149,375.93
Ending FG Inventory 43,014.64 52,204.19
Cost of Goods Sold $160,689.95 $97,171.74
Metal Frames
Beginning FG Inventory $89,984.00 $44,284.47
Direct Materials Used $9,345.22 $9,566.41
Direct Mfg. Labor 17,591.00 $17,591.00
Mfg. Overhead 109,346.26 $109,346.26
Cost of Goods Mfd $136,282.48 $136,503.66
COG Available-Sale $226,266.48 $180,788.13
Ending FG Inventory 44,284.47 39,765.32
Cost of Goods Sold $181,982.01 $141,022.82
Total COGS
Beginning FG Inventory $202,579.00 $87,299.11
Direct Materials Used $16,460.17 $17,933.96
Direct Mfg. Labor 29,231.00 31,171.00
Mfg. Overhead 181,700.89 193,760.00
Cost of Goods Mfd $227,392.06 $242,864.96
COG Available-Sale $429,971.06 $330,164.06
Ending FG Inventory 87,299.11 91,969.51
Cost of Goods Sold $342,671.96 $238,194.55
March April May
$52,204.19 $84,212.71
$9,700.00 $8,487.50 $8,487.50
15,520.00 13,580.00 13,580.00
96,472.85 84,413.74 84,413.74
$121,692.85 $106,481.24
$173,897.04 $190,693.95
84,212.71 80,919.47
$89,684.34 $109,774.48
$39,765.32 $46,719.28
$8,212.13 $10,949.50 $9,580.81
15,078.00 $20,104.00 $17,591.00
93,725.36 $124,967.15 $109,346.26
$117,015.49 $156,020.65
$156,780.80 $202,739.93
46,719.28 46,284.68
$110,061.53 $156,455.25
$91,969.51 $130,931.98
$17,912.13 $19,437.00 $18,068.31
30,598.00 33,684.00 31,171.00
190,198.21 209,380.89 193,760.00
$238,708.34 $262,501.89
$330,677.85 $393,433.88
130,931.98 127,204.15
$199,745.87 $266,229.73
May June July
$100,051.60 $63,982.84
$12,125.00 $13,337.50 $12,125.00
19,400.00 21,340.00 19,400.00
120,591.06 132,650.17 120,591.06
$152,116.06 $167,327.67
$252,167.66 $231,310.51
63,982.84 74,489.82
$316,150.50 $156,820.68
$84,094.70 $103,054.03
$15,055.56 $13,686.88 $13,686.88
$27,643.00 $25,130.00 $25,130.00
$171,829.83 $156,208.94 $156,208.94
$214,528.39 $195,025.81
$298,623.09 $298,079.84
103,054.03 102,510.78
$195,569.06 $195,569.06
$184,146.29 $167,036.87
$27,180.56 $27,024.38 $25,811.88
47,043.00 46,470.00 44,530.00
292,420.89 288,859.11 276,800.00
$366,644.46 $362,353.48
$550,790.75 $529,390.35
167,036.87 177,000.61
$383,753.88 $352,389.74
October November December
$112,595.00
$120,970.00
194,000.00
1,205,910.62
$1,520,880.62
$1,633,475.62
62,728.27
$1,570,747.35
$89,984.00
$136,618.75
251,300.00
1,562,089.38
$1,950,008.13
$2,039,992.13
81,487.11
$1,958,505.02
$202,579.00
$257,588.75
445,300.00
2,768,000.00
$3,470,888.75
$3,673,467.75
144,215.38
$3,529,252.37
COGS Monthly Budget
Breakdown-Plastic Frames
350000
$316,150.50
300000
250000
200000
$160,689.95 $156,820.68
$156,820.68
150000 $141,138.61
$125,456.55
$125,456.55
$109,774.48
$109,774.48
$109,774.48
$97,171.74
100000 $89,684.34
50000
0
COGS Monthly Budget
Breakdown-Metal
Frames
250000
$195,569.06
$195,569.06
$195,569.06
200000
$181,982.01
$176,012.15
$176,012.15
$156,455.25
$156,455.25
$156,455.25
150000 $141,022.82
$117,341.44
$110,061.53
100000
50000
0
Above Average Glasses
Schedule 8: Non-Manufacturing Costs Budget
For the Year Ending 31 December 2018
Variable Costs:
R&D, Design $12,960.50 $8,935.50 $8,211.00 $10,304.00
Marketing 26,484.50 18,259.50 16,779.00 21,056.00
Distribution 18,032.00 12,432.00 11,424.00 14,336.00
Customer Service 7,325.50 5,050.50 4,641.00 5,824.00
Administrative 14,087.50 9,712.50 8,925.00 11,200.00
Total Variable $78,890.00 $54,390.00 $49,980.00 $62,720.00
Fixed Costs:
R&D, Design $8,333.33 $8,333.33 $8,333.33 $8,333.33
Marketing 39,583.33 39,583.33 39,583.33 39,583.33
Distribution 11,166.67 11,166.67 11,166.67 11,166.67
Customer Service 6,833.33 6,833.33 6,833.33 6,833.33
Administrative 18,750.00 18,750.00 18,750.00 18,750.00
Total Fixed $84,666.67 $84,666.67 $84,666.67 $84,666.67
Total Costs:
R&D, Design $21,293.83 $17,268.83 $16,544.33 $18,637.33
Marketing 66,067.83 57,842.83 56,362.33 60,639.33
Distribution 29,198.67 23,598.67 22,590.67 25,502.67
Customer Service 14,158.83 11,883.83 11,474.33 12,657.33
Administrative 32,837.50 28,462.50 27,675.00 29,950.00
Total Costs $163,556.67 $139,056.67 $134,646.67 $147,386.67
May June July August September
Revenues $5,950,000.00
Cost of Goods Sold $3,529,252.37
Gross Margin $2,420,747.63
Non-Manufacturing Costs:
R&D/Product Design $236,850.00
Marketing Costs 754,650.00
Distribution Costs 324,400.00
Customer Service Costs 159,350.00
Administrative Costs 373,750.00 $1,849,000.00
Operating Income $571,747.63
Above Average Glasses
Budgeted Income Statement Breakdown by Month
For the Year Ending 31 December 2018
$100,000.00
$91,439.45
$90,000.00
$80,000.00
$70,000.00 $74,643.59
$59,577.40
$60,000.00 $57,271.38 $66,245.66
$50,000.00
$50,314.63
$40,000.00 $50,314.63
$34,383.61$34,383.61
$30,000.00
$22,607.47
$19,317.42
$20,000.00
$11,248.78
$10,000.00
$0.00
1