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Please can anyone answer this question, PART B: PROBLEM QUESTIONS (Instruction: Answer THREE questions only) QUESTION 1 Super Drive is a computer hard driv fiscal
Please can anyone answer this question,
PART B: PROBLEM QUESTIONS (Instruction: Answer THREE questions only) QUESTION 1 Super Drive is a computer hard driv fiscal year ended on November 30 appears below: e manufacturer. The company's balance sheet for the Super Drive Statement of Financial Position (Balance Sheet) For the year ended Navember 30, 2017 Assets Cash Trade Debtor Inventory Property, Plant& Equipment 52,000 150,000 315,000 1,000,000 1,517,000 Liabilities and Shareholders' Equity Trade Creditor Ordinary shares Retained eamings 175,000 900,000 442,000 Additional information regarding Super Drive's operations appear below: . Sales are budgeted at RM520,000 for December, 2017 and RM500,000 for January 80% ofthe budgeted sale is on credit with collections are expected to be 60ns in the month of sale and 40% in the month following sale. There are no bad debts. 80% of the disk drive components are purchased in the month prior to the month of the sale, and 20% are purchased in the month of the sale. Purchased components comprise 40% of the cost of goods sold. . Payment for components purchased is made in the month following the purchase. Assume that the cost of goods sold is 80% of sales. Required: a. What is total budgeted cash collections for the upcoming December, 2017? Show your calculation (5 marks) b. What is total budgeted cash payments for the upcoming January, 2018? Show your calculation (7 marks) c. With total payments of RM300,000 for production overheads and other period costs for the month of December, 2017, compute the amount of either cash surplus or (deficit) in the month of December, 2017 (7 marks) d. If cash deficit is budgeted for any month, please briefly discuss three options that Super Drive has to make up for the deficit. (6 marks) ITOTAL: 25 MARKS)Step by Step Solution
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