14.23 Comprehensive review 14.23 Comprehensive review of budgettingof budgetting

Menno Verheijen en Stefan de Weerd

Inleidende informatie (1)Inleidende informatie (1)Het bedrijf British Beverages bottelt twee soorten frisdrank onder de naam Cadbury Schweppes. De enige voorraad die wordt gehouden bestaat uit directe materialen of voorraad gereed product. Er is geen onderhanden werk. De twee frisdranken zijn lemonade en diet lemonade. British Beverages hanteert als eenheid een lot-grootte van 1000 kratten, waarbij 1 krat 24 flessen bevat. 1 lot = 1 unit. Directe materialen worden uitgedrukt in lot; één lot directe materialen is dat wat nodig is om één lot eindproduct te krijgen.

Inleidende informatie (2)Inleidende informatie (2)

Lemonade Diet Lemonade

Syrup £ 1 200 per lot £ 1 100 per lot

Containers £ 1 000 per lot £ 1 000 per lot

Packaging £ 800 per lot £ 800 per lot

Voorspelde kostprijzen van directe materialen voor 2002:

De twee frisdranken worden met dezelfde machines gebottelt. Het enige verschil in het ‘bottel-proces’ is dat de frisdranken verschillende siropen krijgen.

Inleidende informatie (3)Inleidende informatie (3)a) Sales

- Lemonade, 1080 lots at £ 9 000 selling price per lot- Diet lemonade, 540 lots at £ 8 500 selling price per lot

b) Opening (1 January 2002) stock of direct materials- Syrup for lemonade, 80 lots at £ 1 100 purchase price per lot- Syrup for diet lemonade, 70 lots at £ 1 000 purchase price per lot- Containers, 200 lots at £ 950 purchase price per lot- Packaging, 400 lots at £ 900 purchase price per lot

c) Opening (1 January 2002) stock of finished goods- Lemonade, 100 lots at £ 5 300 per lot- Diet lemonade, 50 lots at £ 5 200 per lot

Inleidende informatie (4)Inleidende informatie (4)d) Target closing (31 December 2002) stock of dir. materials

- Syrup for lemonade, 30 lots- Syrup for diet lemonade, 20 lots- Containers, 100 lots- Packaging, 200 lots

e) Target closing (31 December 2002) stock of finished goods- Lemonade, 20 lots- Diet lemonade, 10 lots

f) Each lot requires 20 direct manufacturing labour-hours at the 2002 budgeted rate of £ 25 per hour. Indirect manufacturing labour costs are included in the manufacturing overhead forecast.

Inleidende informatie (5)Inleidende informatie (5)g) Variable manufacturing overhead is forecast to be £ 600

per hour of bottling time; bottling time is the time the filling equipment is in operation. It takes 2 hours to bottle one lot of lemonade and 2 hours to bottle one lot of diet lemonade. Fixed manufacturing overhead is forecast to be £ 1 200 000 for 2002.

h) Hours of budgeted bottling time is the sole allocation base for all fixed manufacturing overhead.

i) Administration costs are forecast to be 10% of the cost of goods manufactured for 2002. Marketing costs are forecast to be 12% of sales for 2002. Distribution costs are forecast to be 8% of sales for 2002.

Overzicht opgaven (1)Overzicht opgaven (1)Neem aan dat British Beverages de first-in, first-out (FIFO) methode hanteert om de voorraden te bepalen. Bepaal de volgende budgetten aan de hand van de voorgaande data (a t/m i):

1 Revenue budget (in £)

2 Production budget (in units)

3 Direct materials usage budget (in units and £)

4 Direct materials purchase budget (in units and £)

5 Direct manufacturing labour budget

6 Manufacturing overhead costs budget

Overzicht opgaven (2)Overzicht opgaven (2)

7 Closing finished goods stock budget

8 Cost of goods sold budget

9 Marketing costs budget

10 Distribution costs budget

11 Administration costs budget

12 Budgeted profit and loss account

Uitwerking opgavenUitwerking opgaven

1 Revenue budget1 Revenue budgetOpbrengsten uit verkoop (omzet)

Lots Selling price Total revenues

Lemonade 1 080 £ 9 000

Diet lemonade 540 £ 8 500

Total

£ 9 720 000

£ 4 590 000

£ 14 310 000

2 Production budget2 Production budgetaantal te produceren producten

Product

Lemonade Diet lemonade

Budgetted sales (1) 1 080 540

Add target closing finished goods stock 20 10

Total requirements 1100 550

Deduct opening finished goods stock 100 50

Units (lots) to be produced 1000 500

3 Direct materials usage 3 Direct materials usage budgetbudget

gebruik directe materialen (in lots en £)Material

Syrup L Syrup DL Contain. Packag. Total

Direct materials to be used in production of lemonade (1000 lots) 1000 1000 1000

Dir. mat. to be used in production of diet lemonade (500 lots) 500 500 500

Total direct materials to be used 1000 500 1500 1500

Syrup L Syrup DL Contain. Packag. Total

Direct mat. to be used from opening stock 80 70 200 400

Multiply by cost per lot of opening stock £ 1 100 £ 1 000 £ 950 £ 900

Cost of direct mat. (A)

Dir. mat. To be used from purchases 920 430 1 300 1 100

Multiply by cost per lot of purchased mat. £ 1 200 £ 1 100 £ 1 000 £ 800

Cost of direct mat. to be used from purchases (B)

Total cost of dir. mat. to be used (A+B)

£ 88 000 £ 70 000 £ 190 000 £ 360 000 £ 708 000

£ 1 104 000 £ 473 000 £ 1 300 000 £ 880 000 £ 3 757 000

£ 1 192 000 £ 543 000 £ 1 490 000£ 1 240 000£ 4 465 000

4 Direct materials purchases 4 Direct materials purchases budgetbudget

aankoop directe materialen (in lots en £)Material

Syrup L Syrup DL Contain. Packag.

Direct mat. to be used in production (lots) 1 000 500 1 500 1 500

Add target closing direct mat. stock (lots) 30 20 100 200

Total req. ment (lots) 1 030 520 1 600 1 700

Deduct opening dir. mat. Stock (lots) 80 70 200 400

Direct materials to be purchased (lots) 950 450 1400 1300

Deze aantallen directe materialen moeten worden vermenigvuldigd met de kosten per lot. Deze zijn: £ 1 200 voor 1 lot syrup lemonade, £ 1 100 voor 1 lot syrup diet lemonade, £ 1 000 voor 1 lot containers en £ 800 voor 1 lot packaging.

De antwoorden zijn dus:

Syrup L : 950 x £ 1 200 =

Syryp DL : 450 x £ 1 100 =

Containers : 1 400 x £ 1 000 =

Packaging: 1 300 x £ 800 =

Totaal:

£ 1 140 000

£ 495 000

£ 1 400 000

£ 1 040 000

£ 4 075 000

5 Direct manufacturing labour 5 Direct manufacturing labour budgetbudget

Kosten van arbeid voor directe productie

Output units/lots produced

(2)

Direct man. facturing lab. hours per unit/lot

Total hours

Hourly

wage rate Total

Lemonade 1 000 20 20 000 £ 25

Diet lemonade 500 20 10 000 £ 25

Total 30 000

£ 500 000

£ 250 000

£ 750 000

6 Manufacturing overhead 6 Manufacturing overhead costscosts

Overige productiekosten

At budgeted level of 3000 direct manufacturing labour-hours

Variable man. overhead costs

units produced: 1 500 lots

2 hours for 1 lot: 3 000 hours

£ 600 per hour: £ 1 800 000 £ 1 800 000

Fixed manufacturing overhead costs

gegeven: £ 1 200 000 £ 1 200 000

Total manufacturing overhead costs £ 3 000 000

7 Closing finished goods stock 7 Closing finished goods stock budgetbudget

Eindvoorraad gereed product

Cost / unit of input

Lemonade Diet lemonade

Inputs Amount Inputs Amount

Syrup L £ 1 200 1 £ 1 200

Syrup DL £ 1 100 1 £ 1 100

Containers £ 1 000 1 £ 1 000 1 £ 1 000

Packaging £ 800 1 £ 800 1 £ 800

Dir man lab £ 25 20 £ 500 20 £ 500

Man. overh £ 1 000 2 £ 2000 2 £ 2 000

Total £ 5500 £ 5400

Dir. materials Lots Cost per lot Total cost Total

Syrup L 30 £ 1 200 £ 36 000

Syrup DL 20 £ 1 100 £ 22 000

Containers 100 £ 1 000 £ 100 000

Packaging 200 £ 800 £ 160 000

Finished goods Lots Cost per lot Total cost

Lemonade 20 £ 23 500 £ 470 000

Diet lemonade 10 £ 23 400 £ 234 000

Total cl. stock

£ 318 000

£ 164 000

£ 482 000

8 Cost of goods sold budget8 Cost of goods sold budgetKosten van de verkochte goederen

Amount Total

Opening finished goods stock, 1 January 2002 £ 790 000

Direct materials used (3) £ 4 465 000

Direct manufacturing labour (5) £ 750 000

Manufacturing overhead (6) £ 3 000 000

Cost of goods manufactured £ 8 215 000

Cost of goods available for sale

Deduct closing finished goods stock, 31 December 2002 £ 164 000

Cost of goods sold

£ 9 005 000

£ 8.841.000

9 Marketing costs budget9 Marketing costs budget

‘Marketing costs are forecast to be 12% of sales for 2002’

Kosten voor marketing

Sales for 2002 (1):

12 % hiervan is:

£ 14 310 000

£ 1 717 200

10 Distribution costs budget10 Distribution costs budgetKosten voor distributie

‘Distribution costs are forecast to be 8% of sales for 2002’

Sales for 2002 (1):

8 % hiervan is:

£ 14 310 000

£ 1 144 800

11 Administration costs 11 Administration costs budgetbudget

Kosten voor distributie

‘Administration costs are forecast to be 10% of the cost of goods manufactured for 2002’

Cost of goods manufactured for 2002 (zie 8):

10 % hiervan is:

£ 8 215 000

£ 821 500

12 Budgeted profit and loss 12 Budgeted profit and loss accountaccount

Winst- en verliesrekeningAmount Total

Revenues (1) £ 14 310 000

Costs

Costs of goods sold (8) £ 8.841.000

Gross margin

Operating costs

Marketing costs (9) £ 1 717 200

Distribution costs (10) £ 1 144 800

Administration costs (11) £ 821 500

Total

Operating profit

£ 5.469.000

£ 3 683 500

£ 1.785.500