Budgeted income statements Flashcards
Current selling price =
Revenue / Number of units sold this year
Next year’s selling price =
A percentage change from this year’s selling price
Next year’s number of units sold =
a percentage change from this year’s number of units sold
Budgeted Revenue =
Next years selling price x Next year’s number of units
sold
Opening inventory =
Closing inventory figure from last year’s income statement
The current purchase price =
Purchases / Number of units bought this year
Next year’s purchase price =
% change from this year’s purchase price
Next year’s number of units bought =
% change from, this years number of units
Budgeted purchases =
Next year’s purchase price x Next year’s number of units bought
Budgeted carriage in =
Next year’s number of units bought x Carriage in per unit
Number of units in closing inventory =
Number of units in opening inventory + Number of units purchases - Number of units sold
Value of closing inventory =
Number of units x (purchase price per unit + carriage in per unit)
Budgeted carriage out =
Next year’s number of units sold x carriage out per unit
