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PDF Management Accounting - Sample Assignment

   

Added on  2021-05-31

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Running head: MANAGEMENT ACCOUNTING Management AccountingName of the Student:Name of the University:Author’s Note:
PDF Management Accounting - Sample Assignment_1

MANAGEMENT ACCOUNTING1Table of ContentsPart A...............................................................................................................................................2Preparation of Master Budget......................................................................................................2Part B.............................................................................................................................................10Investment Decision..................................................................................................................10Part C.............................................................................................................................................12Participative and Imposed Budgetary Approach.......................................................................12Reference.......................................................................................................................................13
PDF Management Accounting - Sample Assignment_2

MANAGEMENT ACCOUNTING2Part APreparation of Master BudgetA master budget is the aggregate of all budgets which are prepared by differentdepartments of the management covering different areas or functions in an organization and alsoincludes a cash forecast budget, financial plan and a forecasted income statement which isrelated to the activities of the business. A master Budget is prepared generally for a quarter or ona month’s basis so that all activities of the business can be monitored and directed towards theachievement of the common goal of the company (Edwards, Harris & McCaffer, 2014). Thecomponents of a master budget are shown below:Sales Budget:ParticularsOctoberNovemberDecemberJanuarySales Volume in units43500348003915052200Selling Price per unit$3,940.00$3,940.00$3,940.00$3,940.00Budgeted Sales Revenue$1713,90,000$1371,12,000$1542,51,000$2056,68,000Figure 1: (Image showing Sales Budget)Source: (Created by Author)
PDF Management Accounting - Sample Assignment_3

MANAGEMENT ACCOUNTING3Production Budget:ParticularsOctoberNovemberDecemberJanuarySales Volume in units43500348003915052200Add: Closing Inventory of Finished Goods6960783010440504604263049590Less: Opening Inventory of Finished Goods2780069607830Budgeted Production Volume226603567041760Figure 2: (Image showing Production Budget)Source: (Created by Author)Direct Labour Budget:ParticularsOctoberNovemberDecemberBudgeted Production Volume226603567041760Labor Hours required per unit555Total Direct Labor Hour Required 113300178350208800Direct Labor Cost per Hour$30.00$30.00$30.00Budgeted Direct Labor Cost$33,99,000$53,50,500$62,64,000QuartersFigure 3: (Image showing Direct Labor Budget)Source: (Created by Author)
PDF Management Accounting - Sample Assignment_4

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