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ACC10707 Accounting And Finance For Business

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Question:

  1. A garden supply company has the following business transaction estimates relating to the third quarter of 2018. 

Credit Sales                                                                                                     160960

Cash Sales                                                                                                        122104

Receipts from Accounts Receivable                                                                 97546

Wages                                                                                                               60080

Office Furniture                                                                                                12109

Prepayments                                                                                                       4722

Administrative Expense                                                                                     18818

Depreciation on Office Furniture                                                                       1454

Depreciation on PPE                                                                                          35000

Provision for doubtful debts                                                                              1454

Receipt of Loan                                                                                                  20000

Credit Purchases                                                                                                85450                  

Payments of Accounts Payable                                                                         69110

Accrued Wages and other expenses                                                                 9854   

Prepayments - Other                                                                                         1597

The cash balance at 1 July 2018 was $106826.

Required

Prepare a cash budget for the quarter ending 30 September 2018. Note that 1 mark will be deducted for each incorrect posting to the cash budget.

  1. The garden supply company is considering introducing various aged trees to their product range in 2019. They have provided the following information relating to its planned activities.

                                                                                                I year old       2 years old               3 years old

Sales mix                                                                              245,000                 125,000                     75,000

Selling price                                                                            $15                           $25                           $40

Variable cost/unit                                                                     10                              16                             25

Total fixed cost = $351,900

Required

  1. Calculate the contribution margin, sales mix and weighted average cost margin for each product. Also calculate the break-even point in total units and units per product based on the 2019 data.                                                                                                                                                                
  2. Management is concerned about competition for some of its trees, and wants to alter its sales mix of trees. The total number of trees forecast to be sold remains as per question 2a. This initiative would increase annual fixed costs by $60 000 and alter the sales mix to 40 percent for 1 year old trees, 30 per cent for 2 years old trees and 30 per cent for 3 years old trees . On the available data, would you recommend the initiative Show workings.  
  1. The garden supply company is also considering buying a small truck which costs $126 500 and is expected to earn annual net cash inflows of $63 400, $57 400, $47 000 and $39 900, before it wears out sufficiently to be unreliable and must be sold for an estimated $17 400. 

Required

  1. If funds can earn 5 per cent, what is the small trucks NPV
  2. If funds earn 8 per cent, what is the small trucks NPV
  3. Advise management on your recommendation regarding purchase of the small truck subsequent to your NPV calculations.
  4. What advice would you give management if the required payback period was two years

Show calculations for a, b and d.

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