QuickHelper

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Category > Business & Finance Posted 09 Jun 2017 My Price 6.00

one cost accounting question

Question description

 

 

The following information related to the proposed budget for KASEE Ltd for the months ending 30 June 2014.

Material  Production  Administration Month  Sales  Purchases  Wages  Overheads  Overheads

  Sh. ‘000’  Sh. ‘000’  Sh. ‘000’ Sh. ‘000’  Sh. ‘000’

January  72000  25000  10000  6000  5500

February  97000  31000  12100  6300  6700

March  86000  25500  10600  6000  7500

April  88600  30600  25000  6500  8900

May  102500  37000  22000  8000  11000

June  108700  38800  23000  18200  11500

Additional Information

1.  Depreciation expenses are expected to be 0.5%of sales.

2.  Expected cash balance in hand on 1 January 2014 is Sh. 72,500,000

3.  50% of total sales are cash sales

4.  Assets are to be acquired in the months of February and April at Sh. 8,000,000 and Sh. 25,000,000 respectively

5.  An application has been made to the bank for the grant of a loan of Sh. 30,000,00 and it is hoped that it will be received in the month of May

6.  It is anticipated that a dividend of Sh. 35,000,000 will be paid in June

7.  Debtors are allowed one month’s credit

8.  Creditors, production Overheads and administration overheads are paid after one month

9.  Sales commission at 3% on sales is paid to the salesmen each month 10. All purchases are on credit

Required: A cash budget for the six months ending 30 June 2014

 

Answers

QuickHelper
(10)
Status NEW Posted 09 Jun 2017 04:06 PM My Price 6.00

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