QUESTION 3

MANAGERIAL AND COST ACCOUNTING BAM20303 /FAM2010 MANAGERIAL AND COST ACCOUNTING BAM20303 FAMZ0103 4 Fixed overhead is RM10 000 per month, which includes depreciation on vehicle of RM1000 5. in July, the company transfer RM50,000 to Bank Islam Malaysia for a fred deposit Interest on the fixed deposit is 15% per annum and is paid on quarterly basis 6. Commission of RM15,000 from the head office will be received in August 2010 7. Opening balance on 1 July 2019 is RM20.000 overdraft Interest of RM1.875 on this fixed deposit is expected to be received in Seplember YY This overhead is paid as it is incurred. xx 9.000 kgs 7.500 kgs 8,000 kgs 6,000 kgs 1 January 31 December 2019 Required # From the data above, prepare for the year 2019 Sales Budget Production Budget Material Usage and Material Purchase Budget M Direct Labour Budget Brely explain three (3) advantages of budgeting Required Prepare a Cash Budget for Arian Business Sdn Bhd for the months of July to a September 2019 Briefly explain the following cash term: Cash surplus ) Cash deficit QUESTION QUESTION 4 The following information is available for you to prepare the cash budget for the thing Quarter of 2019 of Arian Business Sdn Bhd Month Budgeted Budgeted Budgeted purchased production of raw material May 4,000 units 7.000 unit 5.000 units June 6,000 units 8,000 units 7,000 units Citra Kenari Ltd produces coat-racks. The projected sales and inventory data for the coatracks, for the second quarter of the year 2019 are as below Unit sales Unit selling price Beginning Inventory (Units) Targeted Ending Inventory (Units) 100,000 RM15 8.000 12.000 The coat-racks are moulded and then painted. Each rack requires 4 kgs of metal, which costs RM2.50 per kg. The beginning inventories of the raw materials are 4.000 kgs. July 7,000 units 6,000 units 6.000 units August 6,000 units 7.000 units 7.000 units September 6.000 units 8,000 units 6.000 units Additional information 1. A cash discount of 3% is given to the customer if payment is made in the month of sam Normally 30% of the sales are collected in the month of the sales while the remainder are collected one month after the sales. Selling price is RM30 perunt 2 All purchases of raw materials are on credit. The supplier has given two (2) months credit facilities to business Purchase price of material is RM5 per unit. 3. Wages are paid in the month they are incurred and based on budgeted sales. The direct labour cost is RM per unit Citra Kenari Ltd needs to keep 6,000 kgs of metal as inventories at the end of the quarter Each rack produced requires 30 minutes of the direct labour hour, which is biled at RM9 per hour Required: a) Prepare the following for the second quarter