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Please answer Question a . Please dont copy and paste same answer from another chegg's question . thank you The following information is budgeted for
Please answer Question a . Please dont copy and paste same answer from another chegg's question . thank you
The following information is budgeted for Hana Sdn Bhd (HSB) for the second quarter of next year: Additional information: a) All sales at HSB are on credit. Experience indicates that 80% of sales will be collected in the month of sale and the remaining 20% will be collected in the following month. b) HSB purchases all materials on credit; 90% of purchases are paid for in the month of purchase, and the remaining 10% are paid for in the following month. The purchase of materials for the month of March is RM30,000. c) Fixed overhead includes depreciation of RM3,000. d) Variable overhead and rental expenses are paid within the month they are incurred. e) The company received a 7\% dividend from an investment of RM60,000 in April. f) equipment costing RM20,000 will be purchased in May. Payment for the equipment will be in 2 equal payments starting in May. g) Opening cash balance in April is RM160,000. Required: a) Prepare a Schedule of sales Collections and payments of materials for the months of April, May, and June. (10 marks) b) Prepare a cash budget for the months of April, May, and June. (15 marks)Step by Step Solution
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