Accounting Company Budget Project Excel

Question Description

there are 5 parts each part have to be separated with a file from the others.

– part 1: Start a company that manufacturers a product. What does your company make? What is the company name?

Fill in the missing information on this Excel worksheet about your cost information for your product.


-part 2:

Create an assumptions page in your Excel workbook,

2). Put in a price assumption for your product

3). Put in the Jan-Dec Monthly units you plan to sell

4). Assume that you have 25% cash sales, 50% collected in 1 month and the other 25% collected in 2 months

5). Create your sales budget

6) Create a cash budget on a separate tab showing your cash in flow


-part 3:

1, Create your production budget

2. Ending inventory should be 25% of next month’s sales

3. Beginning inventory zero

4. Follow the example that was recorded

If doing a service business then created your headquarters budget (salaries, depreciation, utilities, marketing, supplies, insurance, etc.)

If you are doing a reale business created your purchase budget (use same assumptions buy inventory in advance of selling it like production budget, what % of the sales price is your cost. then assume you pay 50% cash now and 50% cash next month)


-Part 4:

Now that you have the production budget done.

1) Do the direct materials budget.

a. Ending invenetory should be 20% of next months production budget

b. Assume very beginning inventory is zero

c. Make an estimate of the standard price for direct materials.

d. You have to figure out how much direct materials dollars you need to purchase each month

e. Let’s assume that you pay 50% cash and 50% will be paid the following month (accounts payable)

f. Update to your cash budget to show the cash out for direct matierals


-part 5:

Create the direct labor budget for your company.
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