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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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.
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Additional Information:
- For this project, round to the nearest whole dollar.
- The income tax rate is 35%.
- The company uses actual costing
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Transcribed Image Text: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
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