Foodsburry is a business that specializes in selling and supplying chocolate cakes. This business is well-known by all residents of Shah Alam. In 2020, Foodsburry decided to introduce their two latest products, namely, Chocolate Milk and Choco Bites in mid-2020. The following is a sales analysis of the two products: Unit sold Chocolate Milk Choco Bites June 400 500 July 30% less than the previous 450 month August 20% more than the previous 50% more than June month September 20% less than the previous 25% more than the previous month month October 20% less than the previous 420 month November 50% more than the previous 25% more than June month December 20% less than the previous 550 month Additional information: Selling price for Chocolate Milk is RM 8.50 Selling price for Choco Bites is RM 5.20 Closing inventory for Chocolate Milk is 400 units and Choco Bites is 325 units. Opening inventory for Chocolate Milk and Choco Bites is 40% of units sold. Closing inventory for Material A and Material B is 20% of the units required Opening inventory for Material A and Material B are 50% more than the closing inventory. Estimated materials required for production: Product Material A Material B (RM 0.8 per kg) (RM 0.5 per kg) Chocolate Mil 2 kg Half of material A Choco Bites 1.5 kg Estimated labour hours: Product Hour per unit Rate per hour Chocolate Mil Choco Bites RM 1.50 RM 0.80 4 Based on the information given, a) PREPARE the following budgets: i. Sales Budget, ii. Production Budget, ii. Direct Material Usage Budget, iv. Direct Material Purchase Budget and V. Direct Labour Budget (17 marks) b) DESCRIBE THREE (3) purposes of preparing budgets. (3 marks) Foodsburry is a business that specializes in selling and supplying chocolate cakes. This business is well-known by all residents of Shah Alam. In 2020, Foodsburry decided to introduce their two latest products, namely, Chocolate Milk and Choco Bites in mid-2020. The following is a sales analysis of the two products: Unit sold Chocolate Milk Choco Bites June 400 500 July 30% less than the previous 450 month August 20% more than the previous 50% more than June month September 20% less than the previous 25% more than the previous month month October 20% less than the previous 420 month November 50% more than the previous 25% more than June month December 20% less than the previous 550 month Additional information: Selling price for Chocolate Milk is RM 8.50 Selling price for Choco Bites is RM 5.20 Closing inventory for Chocolate Milk is 400 units and Choco Bites is 325 units. Opening inventory for Chocolate Milk and Choco Bites is 40% of units sold. Closing inventory for Material A and Material B is 20% of the units required Opening inventory for Material A and Material B are 50% more than the closing inventory. Estimated materials required for production: Product Material A Material B (RM 0.8 per kg) (RM 0.5 per kg) Chocolate Mil 2 kg Half of material A Choco Bites 1.5 kg Estimated labour hours: Product Hour per unit Rate per hour Chocolate Mil Choco Bites RM 1.50 RM 0.80 4 Based on the information given, a) PREPARE the following budgets: i. Sales Budget, ii. Production Budget, ii. Direct Material Usage Budget, iv. Direct Material Purchase Budget and V. Direct Labour Budget (17 marks) b) DESCRIBE THREE (3) purposes of preparing budgets. (3 marks) Foodsburry is a business that specializes in selling and supplying chocolate cakes. This business is well-known by all residents of Shah Alam. In 2020, Foodsburry decided to introduce their two latest products, namely, Chocolate Milk and Choco Bites in mid-2020. The following is a sales analysis of the two products: Unit sold Chocolate Milk Choco Bites June 400 500 July 30% less than the previous 450 month August 20% more than the previous 50% more than June month September 20% less than the previous 25% more than the previous month month October 20% less than the previous 420 month November 50% more than the previous 25% more than June month December 20% less than the previous 550 month Additional information: Selling price for Chocolate Milk is RM 8.50 Selling price for Choco Bites is RM 5.20 Closing inventory for Chocolate Milk is 400 units and Choco Bites is 325 units. Opening inventory for Chocolate Milk and Choco Bites is 40% of units sold. Closing inventory for Material A and Material B is 20% of the units required Opening inventory for Material A and Material B are 50% more than the closing inventory. Estimated materials required for production: Product Material A Material B (RM 0.8 per kg) (RM 0.5 per kg) Chocolate Mil 2 kg Half of material A Choco Bites 1.5 kg Estimated labour hours: Product Hour per unit Rate per hour Chocolate Mil Choco Bites RM 1.50 RM 0.80 4 Based on the information given, a) PREPARE the following budgets: i. Sales Budget, ii. Production Budget, ii. Direct Material Usage Budget, iv. Direct Material Purchase Budget and V. Direct Labour Budget (17 marks) b) DESCRIBE THREE (3) purposes of preparing budgets. (3 marks) Foodsburry is a business that specializes in selling and supplying chocolate cakes. This business is well-known by all residents of Shah Alam. In 2020, Foodsburry decided to introduce their two latest products, namely, Chocolate Milk and Choco Bites in mid-2020. The following is a sales analysis of the two products: Unit sold Chocolate Milk Choco Bites June 400 500 July 30% less than the previous 450 month August 20% more than the previous 50% more than June month September 20% less than the previous 25% more than the previous month month October 20% less than the previous 420 month November 50% more than the previous 25% more than June month December 20% less than the previous 550 month Additional information: Selling price for Chocolate Milk is RM 8.50 Selling price for Choco Bites is RM 5.20 Closing inventory for Chocolate Milk is 400 units and Choco Bites is 325 units. Opening inventory for Chocolate Milk and Choco Bites is 40% of units sold. Closing inventory for Material A and Material B is 20% of the units required Opening inventory for Material A and Material B are 50% more than the closing inventory. Estimated materials required for production: Product Material A Material B (RM 0.8 per kg) (RM 0.5 per kg) Chocolate Mil 2 kg Half of material A Choco Bites 1.5 kg Estimated labour hours: Product Hour per unit Rate per hour Chocolate Mil Choco Bites RM 1.50 RM 0.80 4 Based on the information given, a) PREPARE the following budgets: i. Sales Budget, ii. Production Budget, ii. Direct Material Usage Budget, iv. Direct Material Purchase Budget and V. Direct Labour Budget (17 marks) b) DESCRIBE THREE (3) purposes of preparing budgets. (3 marks)