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Dr. Sawsan Halbouni CANADIAN UNIVERSITY OF DUBAI Assignment 2 MBA 641 Managerial Accounting Name: _________________ ID #:_______________ Due date: 30/10/2017 Marks obtained: _____/35 Course Learning Outcome Q. CLO1 - Critically discuss the strengths and limitations of key principles and trends in managerial accounting to enhance corporate decision making CLO2- Develop an advanced understanding of cost theory and budgeting techniques in managerial decision making CLO3- Critically assess the impacts of ethical sound decisions on corporate business using managerial accounting CLO4- Demonstrate an advanced understanding of the process and structure of management planning and control system with respect to achievement of corporate objectives Case 1 Dr. Sawsan Halbouni Budgeted income statement and supporting budgets for Adidas Co. (35 Marks) The budget director of Adidas Co. with the assistance of the controller, treasurer, production manager, and sales manager, has gathered the following date for use in devolving the budgeted income statement for March 2017: a. Estimated sales for March: Batting helmet........................................................................................ 1200 units at DH 40 per unit Football helmet....................................................................................... 6500 units at DH 160 per unit b. Estimated inventories at March 1: Direct Materials: Finished products: Plastic............................................. 90 lbs. Batting helmet.......................... 40 units at DH 25 per unit Foam lining................................... 80 lbs. Football helmet........................ 240 units at DH 77 per unit c. Desired inventories at March 31: Direct Materials: Finished products: Plastic............................................. 50 lbs. Batting helmet.......................... 50 units at DH 25 per unit Foam lining................................... 65 lbs. Football helmet........................ 220 units at DH 78 per unit d. Direct materials used in production: In manufacture of batting helmet: Plastic......................................................................................................................... Foam lining................................................................................................................ In manufacture of football helmet: Plastic......................................................................................................................... Foam lining................................................................................................................ 1.2 lbs. per unit of product 0.50 lbs. per unit of product 3.50 lbs. per unit of product 1.50 lbs. per unit of product e. Anticipated cost of purchase and beginning and ending inventories of direct materials: Plastic............................................. DH 6.00 per lbs. Foam lining................................... DH 4.00 per lbs. f. Direct labor requirements: Batting helmet: Molding Department........................................................................................................ Assembly Department...................................................................................................... Football helmet: Molding Department........................................................................................................ Assembly Department...................................................................................................... 0.20 hr. at DH 20 per hr. 0.50 hr. at DH 14 per hr. 0.50 hr. at DH 20 per hr. 1.80 hr. at DH14 per hr. Dr. Sawsan Halbouni g. Estimated factory overhead costs for March: Indirect factory wages DH 86,000 Depreciation of plant and equipments 12,000 Power and light DH 4,000 Insurance and property tax 2,300 h. Estimated operating expenses for March: Sales salaries expense DH 184,300 Advertising expense 87,200 Office salaries expense 32,400 Depreciation expense - office equipment 3,800 Telephone expense - selling 5,800 Telephone expense - administrative 1,200 Travel expense - selling 9,000 Office supplies expense 1,100 Miscellaneous administrative expense 1,000 i. Estimated other income and expense for March: Interest revenue DH 940 Interest expense 872 j. Estimated tax rate: 30% Instructions 1. Prepare a sales budget for March. (3 marks) 2. Prepare a production budget for March. (3 marks) 3. Prepare a direct materials purchases budget for March. (4 marks) 4. Prepare a direct labor cost budget for March. (4 marks) 5. Prepare a factory overhead cost budget for March. (4 marks) 6. Prepare a cost of goods sold budget for March. Work in process at the beginning of March is estimated to be DH15,300, and work in process at the end of March is desired to be DH14,800. (6 marks) 7. Prepare a selling and administrative expenses budget for March. (4 marks) 8. Prepare a budgeted income statement for March. (7 marks) Dr. Sawsan Halbouni