Big Boss L.imited was formed two years ago by Joshan Sealens. He had the idea to make a product for Quick Service Restaurants that would be easy and convenient to prepare. He bought several used plant asd equipment from a company that was iavolved in making a siailar product but was leaving the industry. Big Boss estimated that the equipnsent would be able to last for 10 years once it was properly maiataincd. Ile called his finished product "Gwect". The budget for the next four months ending 31 July 2023 is to be prepared. The following data was gathered: 2. Prepare the following budgets in total only for the four months ending July 31,2023 : (a) Cost of goods sold budget. ( 8 marks) (b) Budgeted Statement of Profit or Loss. (5 marks) (c) Budgeted Statement of Financial Position. (13 %/ marks) 1. Prepare the following budgets for Best Friends Pre-season Limited by month and in total for the four months ending July 31,2023 : (a) Sales budget. ( 6 marks) (b) Schedule of cash collected from customers. (10 marks) (c) Production budget. (17 marks) (d) Direct-material usage and purchases budget. (23 1/2 marks) (c) Schedule of cash disbursement to suppliers for direct material. (10 marks) (f) Direct labour budget. ( 91/2 marks) (g) Production overhead budget. (11 marks) (h) Selling and administrative budget (11 marks) (i) Cash budget (25 /2 marks) 2. Prepare the following budgets in total only for the four months ending July 31,2023 : (a) Cost of goods sold budget. ( 8 marks) (b) Budgeted Statement of Profit or Loss. (5 marks) (c) Budgeted Statement of Financial Position. (131/2 marks) Big Boss L.imited was formed two years ago by Joshan Sealens. He had the idea to make a product for Quick Service Restaurants that would be easy and convenient to prepare. He bought several used plant asd equipment from a company that was iavolved in making a siailar product but was leaving the industry. Big Boss estimated that the equipnsent would be able to last for 10 years once it was properly maiataincd. Ile called his finished product "Gwect". The budget for the next four months ending 31 July 2023 is to be prepared. The following data was gathered: 2. Prepare the following budgets in total only for the four months ending July 31,2023 : (a) Cost of goods sold budget. ( 8 marks) (b) Budgeted Statement of Profit or Loss. (5 marks) (c) Budgeted Statement of Financial Position. (13 %/ marks) 1. Prepare the following budgets for Best Friends Pre-season Limited by month and in total for the four months ending July 31,2023 : (a) Sales budget. ( 6 marks) (b) Schedule of cash collected from customers. (10 marks) (c) Production budget. (17 marks) (d) Direct-material usage and purchases budget. (23 1/2 marks) (c) Schedule of cash disbursement to suppliers for direct material. (10 marks) (f) Direct labour budget. ( 91/2 marks) (g) Production overhead budget. (11 marks) (h) Selling and administrative budget (11 marks) (i) Cash budget (25 /2 marks) 2. Prepare the following budgets in total only for the four months ending July 31,2023 : (a) Cost of goods sold budget. ( 8 marks) (b) Budgeted Statement of Profit or Loss. (5 marks) (c) Budgeted Statement of Financial Position. (131/2 marks)
