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Victoria Kite Company - Essay Example

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Victoria Kite Company

Total collections $47200 $66100 $51500

January February March
Schedule c: Purchases Budget
Desired ending inventory $0 $0 $0
Cost of goods sold $20950 $37500 $19000
Total needed $60000 $37500 $19000
Beginning inventory $39050 $0 $0
Purchases $20950 $37500 $19000

Schedule d: Disbursements
for Purchases
100% of previous month's purchases $23050 $20950 $37500
March 31 accounts payable $19000

Financial Statements
Exhibit I
Budgeted Statement of Cash Receipts and Disbursements
For the Three Months Ending March 31, 2005

January February March

Cash balance, beginning $5000 $5000 $10850
Minimum cash balance desired $5000 $5000 $5000

(a) Available cash balance $0 $0 $5850

Cash receipts and disbursements:
Collections from customers
(Schedule b) $47200 $66100 $51500
Payments for merchandise
(Schedule c) $35550 $37500 $19000

Rent $8050 $250 $250

Wages and salaries $15000 $15000 $15000

Miscellaneous expenses $2500 $2500 $2500

Dividends $1500 $0 $0

Purchase of fixtures $0 $0 $3000

(b) Net cash receipts & disbursements ($154000) $10850 $11750

Excess (deficiency) of cash before
financing (a + b) ($15400) $10850 $17600
Borrowing, at beginning of period $15400 $0 $0
Repayment, at end of period $0 $0 $15400
Interest, 10% per annum $0 $0 $385

(c) Total cash increase (decrease) $15400 $0 ($15785)
from financing

(d) Cash balance, end (beginning
balance + c + b) $5000 $10850 $7665
Exhibit II
Budgeted Income Statement
For the Three Months Ending March 31, 2005

Sales (Schedule a) $175000

Cost of goods sold (Schedule...
Thus, the JIT philosophy is an elimination of non-value adding activities in the company's supply chain to boost manufacturing efficiency, driving down cost, and ensuring maximum customer satisfaction by driving down prices of commodities.
This report will look at the feasibility and compatibility of this system to the company's current operations. Since these factors can be best measured quantitatively, this report will present a master budget utilizing the company's assumptions. Part 1 will provide the schedule of Victoria Kite's sales budget, cash collections, purchases budget and disbursements. The next part looks at the impacts of JIT to the company's financial performance by providing a pro-forma income statement, cash flow, and balance sheet for the first quarter of 2005.
The financial statements presented in Exhibits 1-3 shows that JIT will bring in profits and incremental shareholder ...Show more


More intense rivalry among competitors, technological innovation, and the rapid integration of markets to become a single global village primarily spurred developments in the operations of business organizations. These factors created multi-faceted changes in the different functional areas of companies especially in the way they manufacture the products and commodities they offer to customers.
Author : garrettdoyle
Victoria Kite Company
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