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BMAC5203 accounting for business decision making

Question

Answered

PART 1

OBJECTIVE:   The purpose of this assignment is to enable learners to understand an organization’s financial goals through the preparation of operating, financial, and cash budgets that together integrate into a business plan

REQUIREMENT:

Budgets and Budgetary Controls  

Task 1: CLO3

Question

 Jaka Sdn Bhd., manufactures and sells concrete blocks for residential and commercial building. Jaka expects the following sales unit, price per unit and desired ending inventory for year 2021.

 

Quarter 1

Quarter 2

Quarter 3

Quarter 4

Sales unit

2,000,000

6,000,000

6,000,000

2,000,000

Price/unit (RM)

0.70

0.70

0.80

0.80

Ending Inventory

500,000

500,000

100,000

100,000

Inventories for both 1st January 2021 and 1st January 2022 are expected to be 100,000 blocks.

 The raw materials and direct labour required for each concrete block are as follows:

 

Units

Cost

Raw materials

26kg

RM0.01/kg

Direct labour

0.015 hour

RM14/hour

 

Jaka’s policy is to have 5 million kg of raw materials in ending inventory for the third and fourth quarters and 8 million kg of the materials in ending inventory for the first and second quarters.

Required:

Prepare the following budgets for the year 2021: -

(a) Sales budget. Show total sales by quarter and in total for the year.

(b) Production budget. Show total production unit by quarter and in total for the year.

(c) Direct material usage and purchase budget.

(d) Direct labour budget.


 

BMAC5203 accounting for business decision making

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