Budget Formats

Question 1

Sales Budget

Answer 1

Budgeted sales
Selling price per unit
Total Sales

Question 2

Production Budget

Answer 2

Budgeted Sales
Add: ending inv
Less: opening inv
Required Production

Question 3

Raw Materials Budget

Answer 3

Production
materials per unit (kgs)
Production Needs
Add: ending inv
Less: opening inv
materials to be purchased
cost per kg
Total Cost

Question 4

Labour Budget

Answer 4

Production
Direct labour hours/units
Labour hours required
Guaranteed Labour hours
Labour hours paid
wage rate per hour (£)
Total Labour Cost

Question 5

Manufacturing OH Budget

Answer 5

Production
Variable manufacturing OH rate
Variable manufacturing OH costs
Fixed manufacturing OH costs
Total manufacturing OH costs
Less: Non-cash costs
Cash disbursements for Manu. OH

Question 6

Selling + Admin Budget

Answer 6

Budgeted Sales
Variable selling+admin rate
Variable expense
Fixed selling+admin expense
Total selling+admin expense
Less: non-cash expenses
Cash payments for selling+admin

Question 7

Cash Budget

Answer 7

Opening cash balance
Add: cash receipts
Total Cash Available
Less disbursements: (6)
1. materials
2. direct labour
3. fixed manufacturing OH
4. selling + admin
5. equipment purchase
6. dividend
Total disbursements
Closing cash balance