【導(dǎo)讀】Weygandt?Kieso?Kimmel. masterbudget.budget.Budget. financialterms.expenses,plannedobjectives.ofmanagement.Annualbudget. ordinarilyincludes. –thepresident,treasurer,chiefaccountant(controller),and. budget.Budgeting. Long-rangeplanning. Long-rangeplans. c.sameemphasis.d.sametimeperiod.c.sameemphasis.d.sametimeperiod.salesforecast.

　　

【正文】 r. Pertinent data for the following balance sheet are: Building and equipment $182,000 Accumulated depreciation $28,000 Common Stock $225,000 Retained earnings $46,480 HA YES CO M PA NY Budge te d Ba la nc e She e t Dec e mb e r 31 , 2 0 0 5 A s s e ts Cas h $ 3 7 ,9 0 0 A c c oun ts Rec e iv a ble 1 0 8 ,0 0 0 Fin is he d g ood s in v e ntory Raw m a te rial s in v e ntory Buildi ngs a nd e qui pm e nt $ 1 9 2 ,0 0 0 4 4 ,0 0 0 4 ,0 8 0 Le s s : A c c um ula te d d e prec ia tion To ta l a s s e ts 4 8 ,0 0 0 1 4 4 ,0 0 0 $ 3 3 7 ,9 8 0 Budgeted Balance Sheet (Ending cash balance shown in cash budget) (Schedule of cash collections) (1,000 units x $44 production budget) (1,020 lbs x $4 direct materials budget) ($182,000+$10,000 truck) ($28,800 + $15,200 MOH budget and $4,000 Samp。A budget) Sources and putations of the amounts in the Assets section of the Budgeted Balance Sheet are shown below: HA Y E S COM P A NY Bud get ed Ba la nce S heet Dec ember 3 1, 2 00 5 Liabilities a nd S t ockho lder s’ E qu ity A cc ou nt s pay able Com mo n sto ck Retained ea r nin gs $ 18 ,6 00 22 5, 00 0 94 ,3 80 T ot al li abili t ie s and st ockho lder s’ e qu ity $ 33 7, 98 0 Budgeted Balance Sheet ? (50% of 4th Q purchases of $37,200 on schedule of expected payments) ? (Common Stock Unchanged from beginning of year) ? (2020 balance of $46,480 + ine $47,900) found on Budgeted Ine Statement Budgeting in Nonmanufacturing Companies STUDY OBJECTIVE 6 Budgets may also be used in by: ? Merchandisers ? Service enterprises ? Notforprofit anizations Desired Ending Merchandise Inventory Beginning Merchandise Inventory Budgeted Cost of Goods Sold Required Merchandise Purchases Merchandise Purchases Formula The major differences between the budgets of a merchandiser and a manufacturer are that a merchandiser: ? Uses a merchandise purchases budget instead of a production budget. ? Does not use the manufacturing budgets (direct materials, direct labor, and manufacturing overhead). Budgeted cost of goods sold (budgeted salesfor Jul y , $300,000 x 70% ) $ 210,000Desir ed ending merchandise inventory(budgeted cost of goods sold for August,($320,000 x 70 % x 30 % ) 67,200Total 277,200Less: Beginning mer chandise inventor y(budgeted sales for July , $300,000 x 70 % x 30% ) 63,000Computation of Required Merchandise Purchases Required merchandise purchases for July $214,000 Lima Company’s budgeted sales will be $300,000 in July and $320,000 in August. Cost of goods sold is expected to be 70% of sales, and the pany’s desired ending inventory is 30% of the following month’s cost of goods sold. Required merchandise purchases for July are $214,200, puted as follows: Service Enterprises ? Critical factor in budgeting – coordinating professional staff needs with anticipated services. If a firm is overstaffed: ? Labor costs will be disproportionately high. ? Profits will be lower because of the additional salaries. ? Staff turnover will increase because of lack of challenging work. Service Enterprises If an enterprise is understaffed, ? Revenue may be lost because existing and prospective client needs for service cannot be met, and ? Professional staff may seek other jobs because of excessive work loads. NotforProfit Organizations ? Budgeting is just as important for notforprofit anizations as for profitoriented enterprises. ? In most cases, notforprofit entities budget on the basis of cash flows (expenditures and receipts), rather than on a revenue and expense basis. ? The starting point in the budgeting process is usually expenditures, not receipts. A sales budget is: a. derived from the production budget. b. management’s best estimate of sales revenue for the year. c. not the starting point for the master budget. d. prepared only for credit sales. A sales budget is: a. derived from the production budget. b. management’s best estimate of sales revenue for the year. c. not the starting point for the master budget. d. prepared only for credit sales. COPYRIGHT Copyright 169。 2020 John Wiley amp。 Sons, Inc. All rights reserved. Reproduction or translation of this work beyond that permitted in Section 117 of the 1976 United States Copyright Act without the express written consent of the copyright owner is unlawful. Request for further information should be addressed to the Permissions Department, John Wiley amp。 Sons, Inc. The purchaser may make backup copies for his/her own use only and not for distribution or resale. The Publisher assumes no responsibility for errors, omissions, or damages, caused by the use of these programs or from the use of the information contained herein.