Suggest five internal strategies that may be employed by management to improve an organization monthly cash flow and militate against or reduce any possible shortfall reflected in the budget prepared
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Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Suggest five internal strategies that may be employed by management to improve an organization monthly cash flow and militate against or reduce any possible shortfall reflected in the budget prepared
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- Deleon Inc. is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants furnish the data shown below. Sales budget: Anticipated volume in units Unit selling price Production budget: Desired ending finished goods units Beginning finished goods units Direct materials budget: Direct materials per unit (pounds) Desired ending direct materials pounds Beginning direct materials pounds Cost per pound Direct labor budget: Direct labor time per unit Direct labor rate per hour Budgeted income statement: Total unit cost Product JB 50 400,000 $20 30,000 25,000 2 30,000 40,000 $3 0.4 $12 $13 Product JB 60 200,000 $25 15,000 10,000 3 10,000 15,000 $4 0.6 $12 $20 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $560,000 for product JB 50 and $360,000 for product JB 60, and administrative expenses of $540,000 for product JB 50 and $340,000 for product…Question 1 From the following information prepare a monthly cash budget for the three months ending 31st Dec.2020 Sales Materials Wages Production Admin. Selling, etc Month (RM) (RM) (RM) (RM) (RM) June 6,000 3,600 1,300 450 320 July 6,500 4,000 1,500 450 320 Aug. 7,000 4,800 1,500 500 350 Sep. 7,500 4,500 1,500 600 350 Oct. 8,000 4,600 1,600 600 400 Nov. 8,500 5,000 1,800 700 400 Dec. 9,000 5,200 2,000 700 450 Credit terms Sales 3 months to debtors. 10% of sales are on cash. On an average, 50% of credit sales are paid on the due dates while the other 50% are paid in the month following Creditors for material – 2 months. Lag in payment Wages. 1/4 month, overheads 1/2 month. Other information Plant and Machinery to be installed in Aug. at a cost of RM30,000. It will be paid for by monthly installments of RM1,000 each from 1st Oct.; Preference share dividend @ 6% on RM100,000 are to be paid on 1st Dec. Calls on 500 equity shares @ RM2 per share expected on 1st November; Dividends from…7.3 Shown below are the totals from 2018 period budgets. Revenue budget Materials usage from production budget Labor cost budget Manufacturing overhead budget General and administrative budget Capital expenditure budget P100,000 15,000 20,000 20,000 30,000 20,000 32 How Work-in-Progress Inventories: Beginning of 2018 End of 2018 ndilet b rsM x) 1E valM 10,000 lsa 5,000 PLS Finished Goods Iventory: Beginning of 2018 End of 2018 Pla 15,000 10,000 Tax Rate 40% hen dees20 oldibsllonU Instructions: nongt od Prepare a forecasted Income Statement for the year. bas sldigilgon
- Good night please answer d,e and question 2 Makers Ltd. manufactures and sells two products, Abba and Baba. In July 2018 Makers’Budget Department gathered the following data in order to prepare the individual budgets inthe master budget for 2019: 2019 Projected Sales:Product Unit PriceAbba 80,000 $ 190Baba 60,000 $ 270 2019 Inventories in Units: Expected Target:Product January 1, 2019 December 31, 2019Abba 22,000 26,000Baba 9,000 10,000 To produce 1 unit of Abba and Baba, the following direct materials are used:Direct Material Unit Abba BabaA Pounds 5 6B Pounds 3 4C…Good night please answer d,e and question 2 Makers Ltd. manufactures and sells two products, Abba and Baba. In July 2018 Makers’Budget Department gathered the following data in order to prepare the individual budgets inthe master budget for 2019: 2019 Projected Sales:Product Unit PriceAbba 80,000 $ 190Baba 60,000 $ 270 2019 Inventories in Units: Expected Target:Product January 1, 2019 December 31, 2019Abba 22,000 26,000Baba 9,000 10,000 To produce 1 unit of Abba and Baba, the following direct materials are used:Direct Material Unit Abba BabaA Pounds 5 6B Pounds 3 4C…Good night Please answer a,b,c Thanks in advance Makers Ltd. manufactures and sells two products, Abba and Baba. In July 2018 Makers’Budget Department gathered the following data in order to prepare the individual budgets inthe master budget for 2019: 2019 Projected Sales:Product Unit PriceAbba 80,000 $ 190Baba 60,000 $ 270 2019 Inventories in Units: Expected Target:Product January 1, 2019 December 31, 2019Abba 22,000 26,000Baba 9,000 10,000 To produce 1 unit of Abba and Baba, the following direct materials are used:Direct Material Unit Abba BabaA Pounds 5 6B Pounds 3 4C…
- Clark Company's master budget reflects budgeted sales information for the month of June, 2022 as follows: Product A Product B Budgeted Quantity 40,000 48,000 Budgeted Unit Sales Price $7 $9 During June, the company actually sold 39,000 units of Product A at an average unit selling price of $7.1 and 49,600 units of Product B at an average unit price of $8.9. Prepare a Sales Budget Report for the month of June for Clark Company which shows whether the company achieved its planned objectives.From the following forecast of income and expenditure prepare a Cash Budget for the three months ending on May, 20X8 Month Sales ₹ Purchase ₹ Wages ₹ Misc. ₹ Jan 'X8 2,20,000 1,34,000 30,000 17,000 Feb 'X8 2,30,000 1,50,000 32,000 18,000 Mar 'X8 1,80,000 1,54,000 28,000 16,000 Apr 'X8 2,16,000 1,56,000 30,000 22,000 May 'X8 1,88,000 1,30,000 28,000 16,000 Additional Information: (i) Sales:30% realized in the month of sales, discount allowed 2%, balance realized equally in two subsequent months. (ii) Purchases: These are paid in the month following the month of supply (iii) Wages: 30% paid in arrears following month (iv) Misc. Expenses: Paid a month in arrears (v) Rent: ₹2000 per month paid quarterly in advance due, in March (vi) Income Tax: First Instalment of advance tax, ₹30,000 due on or before 15th May to be paid within the month (vii) Income from Investment: ₹15,000 received quarterly in March,…10:55 1 ll 4G A Ims.act.edu.om riay yuestIOIn Al Maha Hardware Co has the following budgeted figures for expenses for the year 2018 Month Expenses (OMR) February 3,400 March 3,800 April 4,000 Мay 4,400 June 4,600 Time Lag in payment of expenses is ¼ month. What is the budgeted payment of expenses for the month of May 2018? Previous page Next page
- Exam Business XYZ has the following projected budget and actual budget for a given month: Budget Actual $25,000 25,575 Рayroll Inventory 12,500 11,900 Rent 7,500 7,600 Services 5,000 5,200 Calculate the percent change that the total of all categories is over budget. [?]% Give your answer as a percent rounded to the nearest tenth. Enter Copyright 2003 - 2021 Acellus Corporation. All Rights Reserved.Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) Revenue ($470.009) Expenses: Wages and salaries ($11,800 + $124.009) Supplies ($4.009) Equipment rental ($2,200 + $26.009) Insurance ($4,000) Miscellaneous ($540 + $1.469) Total expense Net operating income 300 $ 141,000 49,000 1,200 10,000 4,000 978 65,178 $ 75,822 During May, the company's actual activity was 290 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense 0 Net operating income $ 0uakeASSignmentsessfonLocator=&inprogress%3Dfalse ☆ 身G Cash Budget McMichael Inc. collects 80% of its sales on account in the month of the sale and 20% in the month following the sale. If sales on account are budgeted to be $411,000 for September and $370,000 for October, what are the budgeted cash receipts from sales on account for October?