Question 3.15% In the attached Excel-file you will find the original budgeted cash flow for 03, 2022, made back in December 2021, which concludes with a net cash flow of k-333833 during this period, Make a revised cash flow budget for Q3, based on your revised budgeted income as well as your revised budgeted balance sheet Question 4 1359 Barbacoa AS Chinese supplier is a traditional manufacturing company that produces and sells two types of barbeque grills, the coal-driven Baconiser and the gas driven Taste Master. It is only the latter that is imported to Norway The company has previously used a costing model, where indirect production costs have been allocated to the two products with the help of a distribution rate where production time has been defined as the underlying cost driver. Their newly employed CFO wants to introduce Activity based costing and has made an analysis of the budgeted indirect production costs for 2022 (all figures in Chinese Yuan): Total activity costs Activity Fixed costs in Available capacity 4000 purchase orders 6 200 000 90.00 Procurement Machinery set-up and calibration 800 4800 000 100.00 production lines Budgeted capacity Bugeted capacity utilization utilization Baconuer Taste Master 1 800 1 400 purchase order purchase orders 400 300 production lines production lines 8 000 20 400 production production hou hours 240 420 inspections inspections 400 540 service jobs service jobs 22 000 6400000 Production Quality Inspections Maintenance of equipment 3 600 000 82.00% production hours 800 8.00 Inspections 1 200 74.00 service jobs 3 000 000 Facility costs 8 000 000 84.00 NA NA NA Total 32 000 000 The direct production costs per unit are as follows: Baconizer Tave Master Direct material 52.00 106.00 Direct labor 104.00 21200 Packaging 36.00 4700 Total 192.00 360.00 The planned production and sales in 2022 is: Baconizer: 120 000 units Taste Master: 240 000 units Use the template in the Excel spreadsheet to make an ABC-costing model for one unit of Baconizer and one unit of Taste Master, as well as a calculation of the costs for excess capacity in the Production Department Budgeted income statement Q3, 2022: Sales price per unit: Nerdinand Reidar Sales price per unit Internet sales Total sales in units Sales through Nerdia-chain Sales through Reidar-chain Sales through own E-commerce platform Average purchase price in USD USD rate Average purchase price in NOK Corporate tax rate 200,00 3 950,00 8600 4300 2580 1 720 240,00 9,20 2 208,00 22,00 Sales income Costs of goods sold Gross margin Salaries Bonus to Key Account Managers Holiday pay Social security contribution Total salaries and personnel Depreciation Rent, office and warehouse costs Company cars and travel costs Other payable operating costs Total operating costs Budgeted profit before taxes 03. 2022 Payable taxes Budgeted profit before taxes Q3, 2022 26 746.000 18 988 800 7757 200 29,00% 810 000 249 400 127 128 167 300 1 353 828 36 000 96 000 42 000 30 000 204 000 6 199 372 1363 862 4 835 510 Budgeted balance sheet 03, 2022: Company cars Inventory Accounts Receivable Bank deposits Sum assets 01.06.2022 637200 1206 400 2716 900 5689 200 21249700 Change -36 000 -7507 200 6 198 433 -333833 -1 678 600 31.08.2022 601 200 5 299 200 8915 333 4 755 367 19571100 Share capital Premium fund Retained earnings Accounts Payable Payable holiday pay Payable social security costs Payable corporate tax Short-term loan from owners Sum equity and liabilities 240 000 1 530 000 7244100 6038 600 915000 82 000 0 5200000 21 249 700 0 0 4835 510 -2 211 400 -466872 300 1 363 862 -5 200 000 -1 678 600 240 000 1 530 000 12.079 610 3827200 448 128 82 300 1363 862 0 19 571 100 Budgeted cash flow budget Q3, 2022, indirect method: Budgeted profit before taxes 6199 372 Paid taxes Depreciation 36 000 Reduction of inventory 7507200 Increased Accounts Receivable -6 198 433 Redaced Accounts Payable -2 211 400 Relaced other short-term liabilities -5666 572 Net cash flow 03 -333833 Activity-based costing model: Calculation of activity rates: Variable Procurement Machinery set-up and calibration Production costs Quality inspection Maintenance of equipment Facility costs Fixed per purchase order per production line per production hour per inspection job per service job Product costing: Baconizer Taste Master Direct material Direct labor Packaging Total direct costs per unit 0,00 0.00 Procurement costs, variable Procurement costs, fixed Machinery set-up and calibration, variable Machinery set-up and calibration, fixed Production costs, variable Production costs, fixed Quality inspections, variable Quality inspections, fixed Maintenance of equipment, variable Maintenance of equipment, fixed Facility costs, variable Facility costs, fixed Total indirect costs per unit Total ABC costs per unit 0,00 0,00 0,00 0.00 Costs for excess capacity Procurement Machinery set-up and calibration Production costs Quality inspections Maintenance of equipment Facility costs Total costs for excess capacity Total costs for utlized capacity Total indirect production costs Question 3.15% In the attached Excel-file you will find the original budgeted cash flow for 03, 2022, made back in December 2021, which concludes with a net cash flow of k-333833 during this period, Make a revised cash flow budget for Q3, based on your revised budgeted income as well as your revised budgeted balance sheet Question 4 1359 Barbacoa AS Chinese supplier is a traditional manufacturing company that produces and sells two types of barbeque grills, the coal-driven Baconiser and the gas driven Taste Master. It is only the latter that is imported to Norway The company has previously used a costing model, where indirect production costs have been allocated to the two products with the help of a distribution rate where production time has been defined as the underlying cost driver. Their newly employed CFO wants to introduce Activity based costing and has made an analysis of the budgeted indirect production costs for 2022 (all figures in Chinese Yuan): Total activity costs Activity Fixed costs in Available capacity 4000 purchase orders 6 200 000 90.00 Procurement Machinery set-up and calibration 800 4800 000 100.00 production lines Budgeted capacity Bugeted capacity utilization utilization Baconuer Taste Master 1 800 1 400 purchase order purchase orders 400 300 production lines production lines 8 000 20 400 production production hou hours 240 420 inspections inspections 400 540 service jobs service jobs 22 000 6400000 Production Quality Inspections Maintenance of equipment 3 600 000 82.00% production hours 800 8.00 Inspections 1 200 74.00 service jobs 3 000 000 Facility costs 8 000 000 84.00 NA NA NA Total 32 000 000 The direct production costs per unit are as follows: Baconizer Tave Master Direct material 52.00 106.00 Direct labor 104.00 21200 Packaging 36.00 4700 Total 192.00 360.00 The planned production and sales in 2022 is: Baconizer: 120 000 units Taste Master: 240 000 units Use the template in the Excel spreadsheet to make an ABC-costing model for one unit of Baconizer and one unit of Taste Master, as well as a calculation of the costs for excess capacity in the Production Department Budgeted income statement Q3, 2022: Sales price per unit: Nerdinand Reidar Sales price per unit Internet sales Total sales in units Sales through Nerdia-chain Sales through Reidar-chain Sales through own E-commerce platform Average purchase price in USD USD rate Average purchase price in NOK Corporate tax rate 200,00 3 950,00 8600 4300 2580 1 720 240,00 9,20 2 208,00 22,00 Sales income Costs of goods sold Gross margin Salaries Bonus to Key Account Managers Holiday pay Social security contribution Total salaries and personnel Depreciation Rent, office and warehouse costs Company cars and travel costs Other payable operating costs Total operating costs Budgeted profit before taxes 03. 2022 Payable taxes Budgeted profit before taxes Q3, 2022 26 746.000 18 988 800 7757 200 29,00% 810 000 249 400 127 128 167 300 1 353 828 36 000 96 000 42 000 30 000 204 000 6 199 372 1363 862 4 835 510 Budgeted balance sheet 03, 2022: Company cars Inventory Accounts Receivable Bank deposits Sum assets 01.06.2022 637200 1206 400 2716 900 5689 200 21249700 Change -36 000 -7507 200 6 198 433 -333833 -1 678 600 31.08.2022 601 200 5 299 200 8915 333 4 755 367 19571100 Share capital Premium fund Retained earnings Accounts Payable Payable holiday pay Payable social security costs Payable corporate tax Short-term loan from owners Sum equity and liabilities 240 000 1 530 000 7244100 6038 600 915000 82 000 0 5200000 21 249 700 0 0 4835 510 -2 211 400 -466872 300 1 363 862 -5 200 000 -1 678 600 240 000 1 530 000 12.079 610 3827200 448 128 82 300 1363 862 0 19 571 100 Budgeted cash flow budget Q3, 2022, indirect method: Budgeted profit before taxes 6199 372 Paid taxes Depreciation 36 000 Reduction of inventory 7507200 Increased Accounts Receivable -6 198 433 Redaced Accounts Payable -2 211 400 Relaced other short-term liabilities -5666 572 Net cash flow 03 -333833 Activity-based costing model: Calculation of activity rates: Variable Procurement Machinery set-up and calibration Production costs Quality inspection Maintenance of equipment Facility costs Fixed per purchase order per production line per production hour per inspection job per service job Product costing: Baconizer Taste Master Direct material Direct labor Packaging Total direct costs per unit 0,00 0.00 Procurement costs, variable Procurement costs, fixed Machinery set-up and calibration, variable Machinery set-up and calibration, fixed Production costs, variable Production costs, fixed Quality inspections, variable Quality inspections, fixed Maintenance of equipment, variable Maintenance of equipment, fixed Facility costs, variable Facility costs, fixed Total indirect costs per unit Total ABC costs per unit 0,00 0,00 0,00 0.00 Costs for excess capacity Procurement Machinery set-up and calibration Production costs Quality inspections Maintenance of equipment Facility costs Total costs for excess capacity Total costs for utlized capacity Total indirect production costs