14.23 Comprehensive review of budgetting Menno Verheijen en Stefan de Weerd

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) LemonadeDiet Lemonade Syrup£ per lot£ per lot Containers£ per lot Packaging£ 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) a) Sales - Lemonade, 1080 lots at £ selling price per lot - Diet lemonade, 540 lots at £ selling price per lot b) Opening (1 January 2002) stock of direct materials - Syrup for lemonade, 80 lots at £ purchase price per lot - Syrup for diet lemonade, 70 lots at £ 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 £ per lot - Diet lemonade, 50 lots at £ per lot

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) 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 £ for 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 Marketing costs are forecast to be 12% of sales for Distribution costs are forecast to be 8% of sales for 2002.

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) 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 opgaven

1 Revenue budget Opbrengsten uit verkoop (omzet) LotsSelling priceTotal revenues Lemonade1 080£ Diet lemonade540£ Total £ £ £

2 Production budget aantal te produceren producten Product LemonadeDiet lemonade Budgetted sales (1) Add target closing finished goods stock 2010 Total requirements Deduct opening finished goods stock Units (lots) to be produced

3 Direct materials usage budget gebruik directe materialen (in lots en £) Material Syrup LSyrup DLContain.Packag.Total Direct materials to be used in production of lemonade (1000 lots) 1000 Dir. mat. to be used in production of diet lemonade (500 lots) 500 Total direct materials to be used

Syrup LSyrup DLContain.Packag.Total Direct mat. to be used from opening stock 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 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) £ £ £ £ £ £ £ £ £ £ £ £ £ £ £

4 Direct materials purchases budget aankoop directe materialen (in lots en £) Material Syrup LSyrup DLContain.Packag. Direct mat. to be used in production (lots) Add target closing direct mat. stock (lots) Total req. ment (lots) Deduct opening dir. mat. Stock (lots) Direct materials to be purchased (lots)

Deze aantallen directe materialen moeten worden vermenigvuldigd met de kosten per lot. Deze zijn: £ voor 1 lot syrup lemonade, £ voor 1 lot syrup diet lemonade, £ voor 1 lot containers en £ 800 voor 1 lot packaging. De antwoorden zijn dus: Syrup L : 950 x £ = Syryp DL : 450 x £ = Containers :1 400 x £ = Packaging:1 300 x £ 800 = Totaal: £ £ £ £ £

5 Direct manufacturing labour budget Kosten van arbeid voor directe productie Output units/lots produced (2) Direct man. facturing lab. hours per unit/lot Total hours Hourly wage rateTotal Lemonade £ 25 Diet lemonade £ 25 Total £ £ £

6 Manufacturing overhead costs Overige productiekosten At budgeted level of 3000 direct manufacturing labour-hours Variable man. overhead costs units produced: lots 2 hours for 1 lot: hours £ 600 per hour: £ £ Fixed manufacturing overhead costs gegeven: £ £ Total manufacturing overhead costs £

7 Closing finished goods stock budget Eindvoorraad gereed product Cost / unit of input LemonadeDiet lemonade InputsAmountInputsAmount Syrup L£ Syrup DL£ Containers£ Packaging£ Dir man lab£ 2520£ 50020£ 500 Man. overh£ £ Total £ 5500£ 5400

Dir. materialsLotsCost per lotTotal costTotal Syrup L30£ 1 200£ Syrup DL20£ 1 100£ Containers100£ 1 000£ Packaging200£ 800£ Finished goodsLotsCost per lotTotal cost Lemonade20£ £ Diet lemonade10£ £ Total cl. stock £ £ £

8 Cost of goods sold budget Kosten van de verkochte goederen AmountTotal Opening finished goods stock, 1 January 2002 £ Direct materials used (3)£ Direct manufacturing labour (5)£ Manufacturing overhead (6)£ Cost of goods manufactured£ Cost of goods available for sale Deduct closing finished goods stock, 31 December 2002 £ Cost of goods sold £ £

9 Marketing costs budget ‘Marketing costs are forecast to be 12% of sales for 2002’ Kosten voor marketing Sales for 2002 (1): 12 % hiervan is: £ £

10 Distribution costs budget Kosten voor distributie ‘Distribution costs are forecast to be 8% of sales for 2002’ Sales for 2002 (1): 8 % hiervan is: £ £

11 Administration costs budget 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: £ £

12 Budgeted profit and loss account Winst- en verliesrekening AmountTotal Revenues (1)£ Costs Costs of goods sold (8)£ Gross margin Operating costs Marketing costs (9)£ Distribution costs (10)£ Administration costs (11)£ Total Operating profit £ £ £