prepare operational budgets

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MR FER Q3: Background information for Rat's Kebabs. The following budgeted information is provided by Rat's Kebabs for the three months to end 30 September July $ 122,000 38,000 18,000 26,000 August $ 104,000 32,000 26,000 22,000 September $ 161,000 56,000 22,000 30,000 Sales Purchases Opening Inventory Closing Inventory Expenses Marketing Administration Financial Other Income 16,000 2,400 4,200 0 18,000 4,300 3,900 800 24,000 5,800 6,400 1,400 Q3: Prepare a Budgeted Income Statement for each of the three months. Budgeted Income Statements for the three months to 30 September July 122.000 August 104000 September 161600 Sales 122000 - 3000 292009 Less Cost of goods sold Opening inventory Add: Purchases 104000 - 36000 368000 Goods available for sale Less: Closing Inventory Gross profit 18000 38000 56000 26000 92000 0 92000 26000 22000 32000 56000 58000 78000 22000 30000 78000 113000 800 1400 68 800 714400 161000 - 4 loco z 13000 Add: Other Income Total operating income Less Expenses Marketing Administration Financial 16000 18000 24000 2400 4300 5800 4200 3900 6400 69400 42600 7820 duly Aug sep 22600 26200 36200 Net profit before tax 92000- 29600 - 69400 68800-26200 - 42600 114400_36200= 03.2 Refer to the Budget and Forecast policy of Rats Kebabs and answer the following MR FER questions: 03.2.1 List two () budget objectives applied in the above budget and discuss whether these are consistent with organisational aims and forecasts? (use 30-100 words in answer). 3.2.2 Discuss and clarify the budget information according to the organisational MR FER procedures. Include with whom the information was discussed and why you think their input would be valuable. (use 56.150 words in answer). 3.2.3 Discuss the process for submission, approval and distribution of the budget as MR FER outlined in the budget policy? (use 50-100 words in answer)