Budgeted Income Statement: 동영상 및 연습문제
A Budgeted Income Statement estimates the income a company expects to earn if it follows its master budget. It is prepared in the same format as a regular income statement, but it uses budgeted amounts for each period being analyzed, such as a quarter or a year. This makes it useful for comparing planned performance with actual results and evaluating whether the company achieved its expected profitability.
The statement pulls information from other budget schedules. Sales revenue comes from the sales budget, cost of goods sold is based on budgeted units sold and the unit product cost, and operating expenses come from the operating expenses budget. A central calculation is \( \text{Cost of Goods Sold} = \text{Units Sold} \times \text{Unit Product Cost} \) .
After finding gross profit by subtracting cost of goods sold from sales revenue, the company subtracts operating expenses to get net operating income, then subtracts interest expense from the cash budget to arrive at net income. Only interest expense is included here, not debt repayments.
Budgeted Income Statement
Budgeted Income Statement
A furniture maker has set the following expected operating data for the month of May:
Calculate the Budgeted Gross Profit and Budgeted Net Income at the end of May?
Budgeted Gross Profit = \(20,160; Budgeted Net Income = \)7,840
Budgeted Gross Profit = \(25,920; Budgeted Net Income = \)5,760
Budgeted Gross Profit = \(28,350; Budgeted Net Income = \)6,300
Budgeted Gross Profit = \(22,050; Budgeted Net Income = \)9,730
학생들이 이 주제에 대해 묻는 질문은 다음과 같습니다:
A budgeted income statement is a financial document that estimates the income a company expects to earn if it follows its master budget. It is prepared in the same format as a regular income statement but uses budgeted amounts for each period, such as a quarter or a year. This statement is important because it provides a concrete benchmark to compare actual financial performance against planned performance. By doing so, it helps managers evaluate whether the company achieved its expected profitability and identify areas where the business may need to adjust its operations or budgeting assumptions.
In a budgeted income statement, the cost of goods sold (COGS) is calculated using the formula: . The number of units sold is obtained from the sales budget, and the unit product cost is derived from the finished goods inventory or production cost data. Multiplying these two values gives the estimated total cost of goods sold for the period, which is then subtracted from sales revenue to find the gross profit.
Sales revenue figures in a budgeted income statement come directly from the sales budget, which estimates the total sales for each period. Operating expenses are taken from the operating expenses budget, which details the expected costs related to running the business, such as salaries, rent, and utilities. These budgets provide the planned amounts that are used to estimate the company's profitability in the budgeted income statement.
Interest expenses are included in the budgeted income statement because they represent the cost of borrowing money, which affects the company's profitability. These figures are obtained from the cash budget. Debt repayments, however, are not included because they are considered financing activities that affect the balance sheet and cash flow but do not impact the income statement directly. Including only interest expenses ensures the budgeted income statement accurately reflects the costs related to earning income.
A budgeted income statement serves as a financial plan that estimates expected income and expenses. After the budget period ends, the company compares the actual income statement to the budgeted one to see if it met, exceeded, or fell short of its financial goals. This comparison helps identify variances, understand the reasons behind them, and make informed decisions to improve future performance. It is a key tool for performance evaluation and financial control.
