The Rogue River Manufacturing Company The following information was taken from the year-end Adjusted Trial Balance of the Rogue River Manufacturing Company: Manufacturing Accounts: Materials Inventory – Resin A, January 1 Materials Inventory – Resin A, December 31 Materials Inventory – Hardener Q, January 1 Materials Inventory – Hardener Q, December 31 Work in Process Inventory, January 1 Work in Process Inventory, December 31 Materials Purchased Cost – Resin A Materials Purchased Cost – Hardener Q Direct Manufacturing Labor Cost – Dept. A Direct Manufacturing Labor Cost – Dept. B Supervisory Labor Cost Set-up Cost Utility Cost Engineering Cost Fringe Benefit Cost Purchasing Cost Data Entry Cost Depreciation Cost Property Tax Cost Insurance Cost Non-manufacturing Accounts: Notes Payable – Short-term Retained Earnings – January 1 Finished Goods Inventory, January 1 Cash $2,712 3,528 8,000 10,526 20,000 50,000 42,110 178,900 120,317 98,974 | 900,000 298,222 15,233 40,015 168,213 52,300 10,111 360,000 18,000 60,000 Finished Goods Inventory, December 31 Interest Expense (General & Admin.) Accounts Payable Marketing, Delivery Expense Marketing, Advertising Expense Plant and Equipment Income Tax Payable Accumulated Depreciation Administrative Expense Accounts Receivable Sales Revenue Dividends Declared Common Stock $90,092 658,848 38,555 209,000 46,800 12,200 34,422 327,000 120,000 4,081,000 From Income Statement 900,000 300,000 309,500 3,757,000 300,000 2,650,000
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Additional Information:
- For this project, round to the nearest whole dollar.
- The income tax rate is 35%.
- The company uses actual costing
Create a Classified
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The following information was taken from the year-end Adjusted Trial Balance of the Rogue
River Manufacturing Company:
Manufacturing Accounts:
Materials Inventory – Resin A, January 1
Materials Inventory – Resin A, December 31
Materials Inventory – Hardener Q, January 1
Materials Inventory – Hardener Q, December 31
Work in Process Inventory, January 1
Work in Process Inventory, December 31
Materials Purchased Cost – Resin A
Materials Purchased Cost – Hardener Q
Direct Manufacturing Labor Cost – Dept. A
Direct Manufacturing Labor Cost – Dept. B
Supervisory Labor Cost
Set-up Cost
Utility Cost
Engineering Cost
Fringe Benefit Cost
Purchasing Cost
Data Entry Cost
Depreciation Cost
Property Tax Cost
Insurance Cost
Non-manufacturing Accounts:
Notes Payable – Short-term
Retained Earnings – January 1
Finished Goods Inventory, January 1
Cash
$2,712
3,528
8,000
10,526
20,000
50,000
42,110
178,900
120,317
98,974 |
900,000
298,222
15,233
40,015
168,213
52,300
10,111
360,000
18,000
60,000
Finished Goods Inventory, December 31
Interest Expense (General & Admin.)
Accounts Payable
Marketing, Delivery Expense
Marketing, Advertising Expense
Plant and Equipment
Income Tax Payable
Accumulated Depreciation
Administrative Expense
Accounts Receivable
Sales Revenue
Dividends Declared
Common Stock
$90,092
658,848
38,555
209,000
46,800
12,200
34,422
327,000
120,000
4,081,000
From Income Statement
900,000
300,000
309,500
3,757,000
300,000
2,650,000"
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