Input:

selling price midwest:

table
chair
selling price southwest:
table
chair
selling quanity:
table midwest
table southwest
chair midwest
chair southwest
material price:
lumber
paint
material quantity:
table
bd ft
gal/unit
hourly rate:
cutting
assembly
painting
hours required:
cutting
assembly
painting

Outdoor Living Inc.

Schedule 1 - Sales Budget
For the Year ended December 31, 2008
Product and Region
Table:
Midwest
Southwest

Total
Chair:
Midwest
Southwest
Total
Total Revenue
Outdoor Living Inc.
Schedule 2 - Production Budget
For the Year Ended December 31, 2008

Sales
Plus desired ending inventory, Dec. 31
Total
Less Estimated beginning inventory, Jan. 1
Total Production
Outdoor Living Inc.
Sechdule 3 - Direct Materials Budget
For the Year Ended December 31, 2008

Quantities required for production:

Tables (Note A)
Chairs (Note B)
Plus desired ending inventory, Dec 31
Total
Less Estimated beginning inventory, Jan. 1
Total quantity to be purchased
Unit price
Total direct materials purchases
Note A:
30,500 units x 10 board feet/unit
30,500 units x 0.2 gallons/unit
Note B:
102,000 units x 5 board feet/unit
102,000 units x 0.1 gallon/unit
Outdoor Living Inc.
Sehedule 4 - Direct Labor Budget
For the Year Ended December 31, 2008
Hours required for production:

Table (note A)
Chair (note b)
Total
Hourly Rate
Total direct labor cost
Note A:
Cutting - 30,500 units x 0.25 hrs per unit
Assembly - 30,500 units x 0.20 hrs per unit
Painting - 30,500 units x 0.05 hrs per unit
Note B:
Cutting - 102,000 units x 0.10 hrs per unit
Assembly - 102,000 units x 0.15 hrs per unit
Painting - 102,000 units x 0.10 hrs per unit
Outdoor Living Inc.
Sehedule 5 - Factory Overhead Budget
For the Year Ended December 31, 2008
Indirect materials
Indirect labor
Depreciation of building
Depreciation of machinery and equipment
Insurance and property taxes
power and light
total factory overhead cost
Outdoor Living Inc.
Schedule 6 - Cost of Goods Sold Budget
For the Year Ended December 31, 2008
Finished goods inventory, Jan 1.
Work in progross inventory, Jan 1.
Direct materials inventory, Jan 1. (Note A)
Direct materials purchases (schedule 3)
Direct materials available for use
Less direct materials inventory, Dec 31 (Note B)
Cost of direct materials used
Direct labor (schedule 4)
Facotry overhead (Schedule 5)
Total Manufautring costs
total work in process during year
Less work in process during year, Dec. 31
Cost of goods manufactured
Cost of goods avalilable for sale

Less finished goods inventory, Dec. 31

Cost of goods sold
Note A:
Lumber 30,000 bd ft x $2 per bd. ft.
Paint 1,000 gal. x $20 per gal
Direct materials inventory, Jan 1.
Note B:
Lumber 40,000 bd. ft. x $2 per bd ft
Paint 800 gal. x $20 per gal.
Direct materials inventory, Dec 31
Outdoor Living Inc.
Schedule 7 - Selling and Administrative Expenses Budget
For the Year Ended December 31, 2008
Selling expenses..
Advertising expense
Sales salaries expense
travel expense
total selling expenses
administrative expensives;
officers' saleries expenses
office saleries expense
office rent expense
office supplies expense
telephone and fax expense
total administrative expense
total selling and administrative expenses
Outdoor Living Inc.
Budgeted Income Statement
For the Year Ended December 31, 2008
Net sales (schedule 1)
Cost of goods sold (schedule 6)
Gross Profit
Selling and administrative expenses (schedule 7)
income from operations
income tax
net income

Inflation Factor
150.00
50.00

1.00
1.00

150.00
50.00

1.00
1.00

12,000.00
18,000.00
40,000.00
60,000.00

2.00
20.00

1.00
1.00

chair
10.00 bd ft
0.20 gal/unit

5.00
0.10

1.00
1.00
1.00

15.00
12.00
10.00

table

chair
0.25
0.20
0.15

Unit Sales Volume

0.10
0.15
0.10

Unit Selling Price

12,000.00
18,000.00

Total Sales
150.00
150.00

1,800,000.00
2,700,000.00

30,000.00

4,500,000.00

40,000.00
60,000.00
100,000.00

Units
Tables

50.00
50.00

2,000,000.00
3,000,000.00
5,000,000.00
9,500,000.00

Units
Chairs
30,000.00
1,500.00
31,500.00
1,000.00
30,500.00

Direct Materials
Lumber (Board Feet)

100,000.00
4,500.00
104,500.00
2,500.00
102,000.00

Direct Materials
Paint (Gallons)

305,000.00
510,000.00
40,000.00
855,000.00
30,000.00
825,000.00
2.00
1,650,000.00

Total

6,100.00
10,200.00
800.00
17,100.00
1,000.00
16,100.00
20.00
322,000.00

1,972,000.00

305,000.00
6,100.00
510,000.00
10,200.00

Cutting

Assembely

Painting

Total

7,625.00
10,200.00
17,825.00
15.00
267,375.00

6,100.00
15,300.00
21,400.00
12.00
256,800.00

4,575.00
10,200.00
14,775.00
10.00
147,750.00

7,625.00
6,100.00
4,575.00
10,200.00
15,300.00
10,200.00

225,000.00
375,250.00
85,000.00
67,500.00
48,750.00
29,800.00
831,300.00

72,400.00
22,600.00
80,000.00
1,972,000.00
2,052,000.00
96,000.00
1,956,000.00
671,925.00
831,300.00
3,459,225.00
3,481,825.00
18,000.00
3,463,825.00
3,536,225.00

671,925.00

120,825.00
3,415,400.00
60,000.00
20,000.00
80,000.00
80,000.00
16,000.00
96,000.00

730,300.00
688,500.00
398,000.00
1,816,800.00
655,000.00
511,500.00
65,000.00
32,500.00
14,500.00
1,278,500.00
3,095,300.00

9,500,000.00
3,415,400.00
6,084,600.00
3,095,300.00
2,989,300.00
1,195,720.00
1,793,580.00