loan of RM 30‚000 starting October 2012. The bank would charge 1% interest per month and require the company to repay interest and principal on October 31‚ 2012. In considering the loan‚ you are required to prepare a projected master budget (functional and cash budget) for 2012 on yearly basis. The following information is available for 2012: Standard Material and Labour Cost | RM | Material A | | | 1.50 per gram | Material B | | | 2.80 per gram | Direct Labour | | | 3.50 per hour
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report will talk about: Why is cost accounting so essential to the achievement of the company; what are the different ways of cost accounting and how are they utilized; how does an operating budget work in order to control a firms administration; what are the factors of a financial budget; how are financial budgets developed; what is variance analysis and the way its utilized. Cost accounting can be defined as the procedure of gathering‚ computing‚ assessing‚ interpreting as well as reporting cost info
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A budget is an estimation of the revenue and expenses of a business over a specified period of time. Zero budgeting is when departments are given no budget‚ but have to ask their managers for money based on what they will need for that year. Allocated budgeting is the opposite; this is when money is allocated for a budget and divided according to how many departments and people are working there. The budget is usually set at the start of the financial year and the business must ensure each month
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lured away by low-paying‚ entry-level jobs and by other social entities that can defeat the positive attributes of their lives (i.e. gang activity‚ drugs‚ alcoholism‚ etc.). With this program outline‚ it should be evident that we can work with the budget allotted and still provide the essential services to our target population; the young people of the community who need to be able to return to school. A new day is dawning; how will you make it a successful one?
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would use information gathered from the master budget to prepare a budgeted balance sheet. A budgeted balance sheet would be used to project the financial status of Riordan. To improve the quality of Riordan’s master budget‚ managers need to know. Why the budget is being prepared? Who will read and use it? How the information will be presented? Where the information can be found?At Riordan there are two factors for implementing the 2005 fiscal budget‚ which are communication and support. Communication
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grade here Date Sent to Lecturer: Comments: Table of Contents 1. Operation Budget Sales Budget Production Budget Direct Materials Purchases Budget Direct labour Budget Manufacturing Overhead Budget Ending Finished Goods Inventory Budget Cost Of Goods Sold Budget Budgeted Income Statement Cash Budget 2. Report on the impact of Cost Structures 3. Report on Budget versus Actual Outcomes 4.
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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
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75‚000 July 45‚000 Of the units budgeted‚ 40% are sold by the Southern Division at an average price of $15 per unit and the remainder 60% are sold by the Eastern Division at an average price of $12 per unit. Instructions Prepare separate sales budgets for each division and for the company in total for the second quarter of 2008. PART II: Kelso Company manufactures two products‚ (1) Regular and (2) Deluxe. The budgeted units to be produced are as follows: Units of Product 2008 Regular Deluxe
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Irina Vanessa Lintermanns Verschüer A01200345 September 26‚ 2011 Homework: Questions of budgeting 1. Discuss some of the major benefits to be gained from budgeting. It motivates the executives to define the basic objectives of the company‚ it gives a structure to the company by defining the responsibilities of each of the parts that forms the organization‚ it motivates and rises the participation of all workers of the company‚ it obligates to maintain a control document with historical
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ACCT504 Practice Case Study 3 on Cash Budgeting This is a practice case study to help you become familiar with how to create a comprehensive cash budget. The cash budget relates to TCO D and is discussed in Chapter 4. The actual case study assignment should be uploaded to the Week 6 Assignment Dropbox by 11:59 p.m. mountain time on Sunday at the end of Week 6. You are encouraged to use the Excel template file provided in Doc Sharing. The Cambridge Company has budgeted sales revenues as follows
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