Accounting for Managers Essay Report
Added on 2020-07-23
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Accounting for Managers
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1PART A...........................................................................................................................................1a) Sales budget........................................................................................................................1b) Production budget..............................................................................................................1c) Direct material purchases budget.......................................................................................1d) Direct labour budget...........................................................................................................2e) Manufacturing overhead budget.........................................................................................2f) Ending finished goods inventory budget............................................................................2g) Cost of goods sold budget..................................................................................................3h) Budgeted income statement...............................................................................................3i) Cash budget.........................................................................................................................3PART B............................................................................................................................................3PART C ...........................................................................................................................................4PART D...........................................................................................................................................1CONCLUSION................................................................................................................................1REFERENCES................................................................................................................................2
INTRODUCTIONManagers are responsible to manage the business and for that, it is needed that properaccounting shall be done (DRURY, 2013). In this report, all the aspects which are present inrespect of accounting will be discussed. in preparation of budget, information is required and thatis to be collected by managers. On the basis of findings managers can run business in moreeffective and efficient way. The impact of behavioural implication on an organisation is alsoexplained below.PART Aa) Sales budgetParticularsJanuaryFebruaryMarchTotalUnits763806110068740206220Selling price per unit740074007400Total sales5652120004521400005086760001526028000b) Production budgetParticulars JanuaryFebruaryMarchTotalForecasted sales in units 763806110068740206220Add: closing sock366604124454990132894Total units 113040102344123730339114Less: opening stock 489003666041244126804Production units 641406568482486212310c) Direct material purchases budgetParticulars JanuaryFebruaryMarchTotalPart 714Production units641406568482486212310Material per unit555Total required material3207003284204124301061550Add: Closing stock12220137481833044298Less: opening stock15276122201374841244Budgeted material purchases(units)3176443299484170121064604Cost per unit929292Total purchase cost for 71429223248303552163836510497943568Part 502Production units6414065684824862123101
Material per unit666Total required material3848403941044949161273860Add: Closing stock12220137481833044298Less: opening stock15276122201374841244Budgeted material purchases(units)3817843956324994981276914Cost per unit122122122Total purchase cost for 502465776484826710460938756155783508Total purchase cost 758008967862232099303860253727076d) Direct labour budgetParticulars JanuaryFebruaryMarchTotalTotal production units641406568482486212310Labour hours per unit999Total hours required5772605911567423741910790cost per hour505050Total labour cost28863000295578003711870095539500e) Manufacturing overhead budgetParticulars JanuaryFebruaryMarchTotalTotal labour hours required5772605911567423741910790Variable overhead per hour153.87153.87153.87Total variable overhead88822996.290961173.72114229087.38294013257.3Fixed manufacturing overhead:Indirect labour347550203475502134755022104265063Supervision427700004277000042770000128310000Depreciation 38188003818800381880011456400Rates and Utilities3155800315580031558009467400Others15275000152750001527500045825000Total Fixed overheads997746209977462199774622299323863Total manufacturing overheads188597616.2190735794.72214003709.38593337120.3f) Ending finished goods inventory budgetParticulars JanuaryFebruaryMarchTotalOpening Finished goods inventory489003666041244126804Add: Production units641406568482486212310Less: Sales763806110068740206220Closing balance of finished inventory3666041244549901328942
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