Accounting for Managers - PDF
Added on 2020-10-04
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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...........................................................................................................................................5CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7
INTRODUCTIONAccounting is the main task which is used by each firm for evaluating its businessperformance. They are the individuals whose performance makes the business prosperous orforcing it to dispose off. Under accounting, various tools are used among which one is budgetwhich is the most crucial factor that is used by the firm in order to make their business operationseffective. These budgets help the firm to estimate all revenues which are going to make theirbusiness operations effective (Ahmed and Duellman, 2013). In this project report, a masterbudget will be prepared so that Wittgenstein Pty Ltd management will be able to make effectivedecisions.PART Aa) Sales budgetParticularsJanuaryFebruaryMarchTotalUnits762906103068660205980Selling price per unit620062006200Total sales4729980003783860004256920001277076000b) Production budgetParticulars JanuaryFebruaryMarchTotalForecasted sales in units 762906103068660205980Add: closing sock12206137321830844246Total units 884967476286968250226Less: opening stock 48800122061373274738Production units 396966255673236175488c) Direct material purchases budgetParticulars JanuaryFebruaryMarchTotalPart 714Production units396966255673236175488Material per unit555Total required material198480312780366180877440Add: Closing stock366184119654924132738Less: opening stock4577436618411961235881
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