Appendix 3
Appendix 3 – Budgets and templates
Master budget with profit projections
Big Red Bicycle Pty Ltd
Master Budget FY 2011/2012 FY
Q1
Q2
Q3
Q4
REVENUE
Commissions (2% sales)
60,000
15,000
15,000
15,000
15,000
Direct wages fixed
200,000
50,000
50,000
50,000
50,000
Sales
3,000,000
750,000
750,000
750,000
750,000
Cost of Goods Sold
400,000
100,000
100,000
100,000
100,000
Gross Profit 2,340,000
585,000
585,000
585,000
585,000
EXPENSES
General & Administrative Expenses
Accounting fees
20,000
5,000
5,000
5,000
5,000
Legal fees
5,000
1,250
1,250
1,250
1,250
Bank charges
600
150
150
150
150
Office supplies
5,000
1,250
1,250
1,250
1,250
Postage & printing
400
100
100
100
100
Dues & subscriptions
500
125
125
125
125
Telephone
10,000
2,500
2,500
2,500
2,500
Repairs & maintenance
50,000
12,500
12,500
12,500
12,500
Payroll tax
25,000
6,250
6,250
6,250
6,250
Marketing Expenses
Advertising
200,000
50,000
50,000
50,000
50,000
Employment Expenses
Superannuation
45,000
11,250
11,250
11,250
11,250
Wages & salaries
500,000
125,000
125,000
125,000
125,000
Staff amenities
20,000
5,000
5,000
5,000
5,000
Occupancy Costs
Electricity
40,000
10,000
10,000
10,000
10,000
Insurance
100,000
25,000
25,000
25,000
25,000
Rates
100,000
25,000
25,000
25,000
25,000
Rent
200,000
50,000
50,000
50,000
50,000
Water
30,000
7,500
7,500
7,500
7,500
Waste removal
50,000
12,500
12,500
12,500
12,500
TOTAL EXPENSES
1,401,500
350,375
350,375
350,375
350,375
NET PROFIT (BEFORE INTEREST & TAX)
938,500
234,625
234,625
234,625
234,625
Income Tax Expense (25%Net)
234,625
58,656
58,656
58,656
58,656
NET PROFIT AFTER TAX
703,875
175,969
175,969
175,969
175,969
Overhead costs may include minor direct costs when they are so insignificant that they cannot be practically treated as direct expenses. Therefore, overhead expenses are part of the total costs of maintaining and staffing a business.
Look To Cut Costs
If times are tight and money
Master budget with profit projections
Big Red Bicycle Pty Ltd
Master Budget FY 2011/2012 FY
Q1
Q2
Q3
Q4
REVENUE
Commissions (2% sales)
60,000
15,000
15,000
15,000
15,000
Direct wages fixed
200,000
50,000
50,000
50,000
50,000
Sales
3,000,000
750,000
750,000
750,000
750,000
Cost of Goods Sold
400,000
100,000
100,000
100,000
100,000
Gross Profit 2,340,000
585,000
585,000
585,000
585,000
EXPENSES
General & Administrative Expenses
Accounting fees
20,000
5,000
5,000
5,000
5,000
Legal fees
5,000
1,250
1,250
1,250
1,250
Bank charges
600
150
150
150
150
Office supplies
5,000
1,250
1,250
1,250
1,250
Postage & printing
400
100
100
100
100
Dues & subscriptions
500
125
125
125
125
Telephone
10,000
2,500
2,500
2,500
2,500
Repairs & maintenance
50,000
12,500
12,500
12,500
12,500
Payroll tax
25,000
6,250
6,250
6,250
6,250
Marketing Expenses
Advertising
200,000
50,000
50,000
50,000
50,000
Employment Expenses
Superannuation
45,000
11,250
11,250
11,250
11,250
Wages & salaries
500,000
125,000
125,000
125,000
125,000
Staff amenities
20,000
5,000
5,000
5,000
5,000
Occupancy Costs
Electricity
40,000
10,000
10,000
10,000
10,000
Insurance
100,000
25,000
25,000
25,000
25,000
Rates
100,000
25,000
25,000
25,000
25,000
Rent
200,000
50,000
50,000
50,000
50,000
Water
30,000
7,500
7,500
7,500
7,500
Waste removal
50,000
12,500
12,500
12,500
12,500
TOTAL EXPENSES
1,401,500
350,375
350,375
350,375
350,375
NET PROFIT (BEFORE INTEREST & TAX)
938,500
234,625
234,625
234,625
234,625
Income Tax Expense (25%Net)
234,625
58,656
58,656
58,656
58,656
NET PROFIT AFTER TAX
703,875
175,969
175,969
175,969
175,969
Overhead costs may include minor direct costs when they are so insignificant that they cannot be practically treated as direct expenses. Therefore, overhead expenses are part of the total costs of maintaining and staffing a business.
Look To Cut Costs
If times are tight and money