BUDGETING
| Green Pastures Static Budget Income Statement ACC/561 Version 7 |
University of Phoenix Material
Green Pastures
Static Budget Income Statement
For the Year Ended December 31, 2017
Actual Master Budget Difference
Number of Mares 52 60 8 U
Number of Boarding Days 19,000 21,900 2,900 U
Sales $380,000 $547,500 $167,500 U
Less: Variable Expenses
Feed 104,390 109,500 5,110 F
Veterinary Fees 58,838 65,700 6,862 F
Blacksmith Fees 4,984 5,475 491 F
Supplies 10,178 12,045 1,867 F
Total Variable Expenses 178,390 192,720 14,330 F
Contribution Margin 201,610 354,780 153,170 U
Less: Fixed Expenses
Depreciation 40,000 40,000 -0-
Insurance 11,000 11,000 -0-
Utilities 12,000 14,000 2,000 F
Repairs and Maintenance 10,000 11,000 1,000 F
Labor 88,000 95,000 7,000 F
Advertisement 12,000 8,000 4,000 U
Entertainment 7,000 5,000 2,000 U
Total Fixed Expenses 180,000 184,000 4,000 F
Net Income $21,610 $170,780 $149,170 U
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