Budget Preparation For Millie’s Exclusive Office Equipment

SALES BUDGET:

Particulars	Chairs	Desks	Stools	TOTAL

April:
Selling Price per Unit	£120	£208	£51
Sales Volume in April	290	120	230
Total Sales in April	£34,800	£24,960	£11,730	£71,490

May:
Selling Price per Unit	£120	£208	£51
Sales Volume in May	410	100	120
Total Sales in May	£49,200	£20,800	£6,120	£76,120

TOTAL SALES	£84,000	£45,760	£17,850	£1,47,610


PRODUCTION BUDGET:

Particulars	Chairs	Desks	Stools

April:
Total Sales in April	290	120	230
Add: Closing Stock	87	36	69
Less: Opening Stock	63	36	90
Total Production in April	314	120	209

May:
Total Sales in May	410	100	120
Add: Closing Stock	123	30	36
Less: Opening Stock	87	36	69
Total Production in May	446	94	87

TOTAL PRODUCTION	760	214	296

MATERIAL USAGE BUDGET:
	April	May
Particulars	Wood	Plastic	Wood	Plastic

Chair:
Total Production	314	314	446	446
Usage per unit (cu ft.)	4	2	4	2
Total Usage for Chairs (cu ft.)	1256	628	1784	892


Desks:
Total Production	120	120	94	94
Usage per unit (cu ft.)	5	3	5	3
Total Usage for Desks (cu ft.)	600	360	470	282


Stools:
Total Production	209	209	87	87
Usage per unit (cu ft.)	2	1	2	1
Total Usage for Stools (cu ft.)	418	209	174	87

TOTAL MATERIAL USAGE	2274	1197	2428	1261

MATERIAL PURCHASE BUDGET:

Particulars	Woods	Plastic	TOTAL

April:
Total Usage on April	2274	1197
Add: Closing Stock	550	300
Less: Opening Stock	142	81
Purchase Volume in April (cu ft.)	2682	1416
Material Cost per ft.	£12	£7
Total Purchase in April	£32,184	£9,912	£42,096

May:
Total Sales in May	2428	1261
Add: Closing Stock	550	300
Less: Opening Stock	550	300
Purchase Volume in May (cu ft.)	2428	1261
Material Cost per ft.	£12	£7
Total Purchase in May	£29,136	£8,827	£37,963

TOTAL MATERIAL PURCHASE	£61,320	£18,739	£80,059

LABOUR UTILISATION BUDGET:
	April	May
Particulars	Unskilled Labour Hour	Skilled Labour Hours	Unskilled Labour Hour	Skilled Labour Hour

Chair:
Total Production	314	314	446	446
Labour Hour required per unit	3	2	3	2
Total Labour Hr for Chairs	942	628	1338	892


Desks:
Total Production	120	120	94	94
Labour Hour required per unit	5	8	5	8
Total Labour Hr for Desks	600	960	470	752


Stools:
Total Production	209	209	87	87
Labour Hour required per unit	2	0	2	0
Total Labour Hr for Stools	418	0	174	0

TOTAL LABOUR HOURS	1960	1588	1982	1644
Rate per Laour Hour	£7.25	£12	£7.25	£12

TOTAL LABOUR UTILISATION	£14,210	£19,056	£14,370	£19,728

BUDGETED PROFIT STATEMENT:

Particulars	April	May	TOTAL

Total Sales	£71,490	£76,120	£1,47,610
Cost of Material Consumed:
Woods	-£27,288	-£29,136	-£56,424
Plastic	-£8,379	-£8,827	-£17,206
Labor Cost:
Unskilled Labours	-£14,210	-£14,370	-£28,580
Skilled Labours	-£19,056	-£19,728	-£38,784
Production Overhead	-£3,548	-£3,626	-£7,174

BUDGETED PROFIT	-£991	£434	-£558

SALES BUDGET:

Particulars	Chairs	Desks	Stools	TOTAL

April:
Selling Price per Unit	£144	£208	£51
Sales Volume in April	290	120	230
Total Sales in April	£41,760	£24,960	£11,730	£78,450

May:
Selling Price per Unit	£144	£208	£51
Sales Volume in May	410	100	120
Total Sales in May	£59,040	£20,800	£6,120	£85,960

TOTAL SALES	£1,00,800	£45,760	£17,850	£1,64,410


PRODUCTION BUDGET:

Particulars	Chairs	Desks	Stools

April:
Total Sales in April	290	120	230
Add: Closing Stock	87	36	69
Less: Opening Stock	63	36	90
Total Production in April	314	120	209

May:
Total Sales in May	410	100	120
Add: Closing Stock	123	30	36
Less: Opening Stock	87	36	69
Total Production in May	446	94	87

TOTAL PRODUCTION	760	214	296

MATERIAL USAGE BUDGET:
	April	May
Particulars	Wood	Plastic	Wood	Plastic

Chair:
Total Production	314	314	446	446
Usage per unit (cu ft.)	4	2	4	2
Total Usage for Chairs (cu ft.)	1256	628	1784	892


Desks:
Total Production	120	120	94	94
Usage per unit (cu ft.)	5	3	5	3
Total Usage for Desks (cu ft.)	600	360	470	282


Stools:
Total Production	209	209	87	87
Usage per unit (cu ft.)	2	1	2	1
Total Usage for Stools (cu ft.)	418	209	174	87

TOTAL MATERIAL USAGE	2274	1197	2428	1261

MATERIAL PURCHASE BUDGET:

Particulars	Woods	Plastic	TOTAL

April:
Total Usage on April	2274	1197
Add: Closing Stock	550	300
Less: Opening Stock	142	81
Purchase Volume in April (cu ft.)	2682	1416
Material Cost per ft.	£12	£7
Total Purchase in April	£32,184	£9,912	£42,096

May:
Total Sales in May	2428	1261
Add: Closing Stock	550	300
Less: Opening Stock	550	300
Purchase Volume in May (cu ft.)	2428	1261
Material Cost per ft.	£12	£7
Total Purchase in May	£29,136	£8,827	£37,963

TOTAL MATERIAL PURCHASE	£61,320	£18,739	£80,059

LABOUR UTILISATION BUDGET:
	April	May
Particulars	Unskilled Labour Hour	Skilled Labour Hours	Unskilled Labour Hour	Skilled Labour Hour

Chair:
Total Production	314	314	446	446
Labour Hour required per unit	3	2	3	2
Total Labour Hr for Chairs	942	628	1338	892


Desks:
Total Production	120	120	94	94
Labour Hour required per unit	5	8	5	8
Total Labour Hr for Desks	600	960	470	752


Stools:
Total Production	209	209	87	87
Labour Hour required per unit	2	0	2	0
Total Labour Hr for Stools	418	0	174	0

TOTAL LABOUR HOURS	1960	1588	1982	1644
Rate per Laour Hour	£7.25	£12	£7.25	£12

TOTAL LABOUR UTILISATION	£14,210	£19,056	£14,370	£19,728

BUDGETED PROFIT STATEMENT:

Particulars	April	May	TOTAL

Total Sales	£78,450	£85,960	£1,64,410
Cost of Material Consumed:
Woods	-£27,288	-£29,136	-£56,424
Plastic	-£8,379	-£8,827	-£17,206
Labor Cost:
Unskilled Labours	-£14,210	-£14,370	-£28,580
Skilled Labours	-£19,056	-£19,728	-£38,784
Production Overhead	-£3,548	-£3,626	-£7,174

BUDGETED PROFIT	£5,969	£10,274	£16,243

SALES BUDGET:

Particulars	Chairs	Desks	Stools	TOTAL

April:
Selling Price per Unit	£120	£208	£51
Sales Volume in April	290	120	230
Total Sales in April	£34,800	£24,960	£11,730	£71,490

May:
Selling Price per Unit	£120	£208	£51
Sales Volume in May	410	100	150
Total Sales in May	£49,200	£20,800	£7,650	£77,650

TOTAL SALES	£84,000	£45,760	£19,380	£1,49,140


PRODUCTION BUDGET:

Particulars	Chairs	Desks	Stools

April:
Total Sales in April	290	120	230
Add: Closing Stock	87	36	69
Less: Opening Stock	63	36	90
Total Production in April	314	120	209

May:
Total Sales in May	410	100	150
Add: Closing Stock	123	30	45
Less: Opening Stock	87	36	69
Total Production in May	446	94	126

TOTAL PRODUCTION	760	214	335

MATERIAL USAGE BUDGET:
	April	May
Particulars	Wood	Plastic	Wood	Plastic

Chair:
Total Production	314	314	446	446
Usage per unit (cu ft.)	4	2	4	2
Total Usage for Chairs (cu ft.)	1256	628	1784	892


Desks:
Total Production	120	120	94	94
Usage per unit (cu ft.)	5	3	5	3
Total Usage for Desks (cu ft.)	600	360	470	282


Stools:
Total Production	209	209	126	126
Usage per unit (cu ft.)	2	1	2	1
Total Usage for Stools (cu ft.)	418	209	252	126

TOTAL MATERIAL USAGE	2274	1197	2506	1300
			78	39
MATERIAL PURCHASE BUDGET:	4780	2497

Particulars	Woods	Plastic	TOTAL

April:
Total Usage on April	2274	1197
Add: Closing Stock	550	300
Less: Opening Stock	142	81
Purchase Volume in April (cu ft.)	2682	1416
Material Cost per ft.	£12	£7
Total Purchase in April	£32,184	£9,912	£42,096

May:
Total Sales in May	2506	1300
Add: Closing Stock	550	300
Less: Opening Stock	550	300
Purchase Volume in May (cu ft.)	2506	1300
Material Cost per ft.	£12	£7
Total Purchase in May	£30,072	£9,100	£39,172

TOTAL MATERIAL PURCHASE	£62,256	£19,012	£81,268
	£936	£273
LABOUR UTILISATION BUDGET:
	April	May
Particulars	Unskilled Labour Hour	Skilled Labour Hours	Unskilled Labour Hour	Skilled Labour Hour

Chair:
Total Production	314	314	446	446
Labour Hour required per unit	3	2	3	2
Total Labour Hr for Chairs	942	628	1338	892


Desks:
Total Production	120	120	94	94
Labour Hour required per unit	5	8	5	8
Total Labour Hr for Desks	600	960	470	752


Stools:
Total Production	209	209	126	126
Labour Hour required per unit	2	0	2	0
Total Labour Hr for Stools	418	0	252	0

TOTAL LABOUR HOURS	1960	1588	2060	1644
Rate per Laour Hour	£7.25	£12	£7.25	£12

TOTAL LABOUR UTILISATION	£14,210	£19,056	£14,935	£19,728

BUDGETED PROFIT STATEMENT:

Particulars	April	May	TOTAL

Total Sales	£71,490	£77,650	£1,49,140
Cost of Material Consumed:
Woods	-£27,288	-£30,072	-£57,360
Plastic	-£8,379	-£9,100	-£17,479
Labor Cost:
Unskilled Labours	-£14,210	-£14,935	-£29,145
Skilled Labours	-£19,056	-£19,728	-£38,784
Production Overhead	-£3,510	-£3,664	-£7,174

BUDGETED PROFIT	-£953	£151	-£802

SALES BUDGET:

Particulars	Chairs	Desks	Stools	TOTAL

April:
Selling Price per Unit	£120	£208	£51
Sales Volume in April	290	120	230
Total Sales in April	£34,800	£24,960	£11,730	£71,490

May:
Selling Price per Unit	£120	£208	£51
Sales Volume in May	410	100	120
Total Sales in May	£49,200	£20,800	£6,120	£76,120

TOTAL SALES	£84,000	£45,760	£17,850	£1,47,610


PRODUCTION BUDGET:

Particulars	Chairs	Desks	Stools

April:
Total Sales in April	290	120	230
Add: Closing Stock	58	24	46
Less: Opening Stock	63	36	90
Total Production in April	285	108	186

May:
Total Sales in May	410	100	120
Add: Closing Stock	82	20	24
Less: Opening Stock	58	24	46
Total Production in May	434	96	98

TOTAL PRODUCTION	719	204	284

MATERIAL USAGE BUDGET:
	April	May
Particulars	Wood	Plastic	Wood	Plastic

Chair:
Total Production	285	285	434	434
Usage per unit (cu ft.)	4	2	4	2
Total Usage for Chairs (cu ft.)	1140	570	1736	868


Desks:
Total Production	108	108	96	96
Usage per unit (cu ft.)	5	3	5	3
Total Usage for Desks (cu ft.)	540	324	480	288


Stools:
Total Production	186	186	98	98
Usage per unit (cu ft.)	2	1	2	1
Total Usage for Stools (cu ft.)	372	186	196	98

TOTAL MATERIAL USAGE	2052	1080	2412	1254

MATERIAL PURCHASE BUDGET:

Particulars	Woods	Plastic	TOTAL

April:
Total Usage on April	2052	1080
Add: Closing Stock	550	300
Less: Opening Stock	142	81
Purchase Volume in April (cu ft.)	2460	1299
Material Cost per ft.	£12	£7
Total Purchase in April	£29,520	£9,093	£38,613

May:
Total Sales in May	2412	1254
Add: Closing Stock	550	300
Less: Opening Stock	550	300
Purchase Volume in May (cu ft.)	2412	1254
Material Cost per ft.	£12	£7
Total Purchase in May	£28,944	£8,778	£37,722

TOTAL MATERIAL PURCHASE	£58,464	£17,871	£76,335
	£2,856	£868
LABOUR UTILISATION BUDGET:
	April	May
Particulars	Unskilled Labour Hour	Skilled Labour Hours	Unskilled Labour Hour	Skilled Labour Hour

Chair:
Total Production	285	285	434	434
Labour Hour required per unit	3	2	3	2
Total Labour Hr for Chairs	855	570	1302	868


Desks:
Total Production	120	120	96	96
Labour Hour required per unit	5	8	5	8
Total Labour Hr for Desks	600	960	480	768


Stools:
Total Production	186	186	98	98
Labour Hour required per unit	2	0	2	0
Total Labour Hr for Stools	372	0	196	0

TOTAL LABOUR HOURS	1827	1530	1978	1636
Rate per Laour Hour	£7.25	£12	£7.25	£12

TOTAL LABOUR UTILISATION	£13,246	£18,360	£14,341	£19,632

BUDGETED PROFIT STATEMENT:

Particulars	April	May	TOTAL

Total Sales	£71,490	£76,120	£1,47,610
Cost of Material Consumed:
Woods	-£24,624	-£28,944	-£53,568
Plastic	-£7,560	-£8,778	-£16,338
Labor Cost:
Unskilled Labours	-£13,246	-£14,341	-£27,586
Skilled Labours	-£18,360	-£19,632	-£37,992
Production Overhead	-£3,455	-£3,719	-£7,174

BUDGETED PROFIT	£4,245	£706	£4,952

SALES BUDGET:

Particulars	Chairs	Desks	Stools	TOTAL

April:
Selling Price per Unit	£120	£208	£51
Sales Volume in April	290	120	230
Total Sales in April	£34,800	£24,960	£11,730	£71,490

May:
Selling Price per Unit	£120	£208	£51
Sales Volume in May	410	100	120
Total Sales in May	£49,200	£20,800	£6,120	£76,120

TOTAL SALES	£84,000	£45,760	£17,850	£1,47,610


PRODUCTION BUDGET:

Particulars	Chairs	Desks	Stools

April:
Total Sales in April	290	120	230
Add: Closing Stock	87	36	69
Less: Opening Stock	63	36	90
Total Production in April	314	120	209

May:
Total Sales in May	410	100	120
Add: Closing Stock	123	30	36
Less: Opening Stock	87	36	69
Total Production in May	446	94	87

TOTAL PRODUCTION	760	214	296

MATERIAL USAGE BUDGET:
	April	May
Particulars	Wood	Plastic	Wood	Plastic

Chair:
Total Production	314	314	446	446
Usage per unit (cu ft.)	5	2	5	2
Total Usage for Chairs (cu ft.)	1570	628	2230	892


Desks:
Total Production	120	120	94	94
Usage per unit (cu ft.)	5	2	5	2
Total Usage for Desks (cu ft.)	600	240	470	188


Stools:
Total Production	209	209	87	87
Usage per unit (cu ft.)	2	1	2	1
Total Usage for Stools (cu ft.)	418	209	174	87

TOTAL MATERIAL USAGE	2588	1077	2874	1167

MATERIAL PURCHASE BUDGET:

Particulars	Woods	Plastic	TOTAL

April:
Total Usage on April	2588	1077
Add: Closing Stock	550	300
Less: Opening Stock	142	81
Purchase Volume in April (cu ft.)	2996	1296
Material Cost per ft.	£12	£7
Total Purchase in April	£35,952	£9,072	£45,024

May:
Total Sales in May	2874	1167
Add: Closing Stock	550	300
Less: Opening Stock	550	300
Purchase Volume in May (cu ft.)	2874	1167
Material Cost per ft.	£12	£7
Total Purchase in May	£34,488	£8,169	£42,657

TOTAL MATERIAL PURCHASE	£70,440	£17,241	£87,681

LABOUR UTILISATION BUDGET:
	April	May
Particulars	Unskilled Labour Hour	Skilled Labour Hours	Unskilled Labour Hour	Skilled Labour Hour

Chair:
Total Production	314	314	446	446
Labour Hour required per unit	3	2	3	2
Total Labour Hr for Chairs	942	628	1338	892


Desks:
Total Production	120	120	94	94
Labour Hour required per unit	5	8	5	8
Total Labour Hr for Desks	600	960	470	752


Stools:
Total Production	209	209	87	87
Labour Hour required per unit	2	0	2	0
Total Labour Hr for Stools	418	0	174	0

TOTAL LABOUR HOURS	1960	1588	1982	1644
Rate per Laour Hour	£7.25	£12	£7.25	£12

TOTAL LABOUR UTILISATION	£14,210	£19,056	£14,370	£19,728

BUDGETED PROFIT STATEMENT:

Particulars	April	May	TOTAL

Total Sales	£71,490	£76,120	£1,47,610
Cost of Material Consumed:
Woods	-£31,056	-£34,488	-£65,544	£9,120
Plastic	-£7,539	-£8,169	-£15,708	£1,498
Labor Cost:				£81,252
Unskilled Labours	-£14,210	-£14,370	-£28,580
Skilled Labours	-£19,056	-£19,728	-£38,784
Production Overhead	-£3,548	-£3,626	-£7,174

BUDGETED PROFIT	-£3,919	-£4,261	-£8,180

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