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Formulation of Master Budget

   

Added on  2021-05-30

14 Pages1816 Words81 Views
Running head: MANAGEMENT ACCOUNTING Management AccountingName of the Student:Name of the University:Author’s Note:

MANAGEMENT ACCOUNTING1Table of ContentsPart A.................................................................................................................................2Formulation of Master Budget........................................................................................2Part B.................................................................................................................................8Analysis of Production Program.....................................................................................8Part C...............................................................................................................................10Participative Budget and Imposed Budget...................................................................10Reference........................................................................................................................12

MANAGEMENT ACCOUNTING2Part AFormulation of Master BudgetFigure 1: (Image Showing Sales Budget)Source: (Created by Author)Figure 2: (Image Showing Production Budget)Source: (Created by Author)

MANAGEMENT ACCOUNTING3Figure 3: (Image Showing Direct Labour Budget)Source: (Created by Author)Purchase Budget:ParticularsAprilMay June JulyBudgeted Sales Volume59500476005355071400Budgeted Production Volume499605117064260Bearing required per unit 444Total Bearing Required199840204680257040Add: Closing Inventory of Bearing380804284057120237920247520314160Less: Opening Inventory of Bearing476003808042840Budgeted Purchase Volume (in units)190320209440271320Bearing Cost per unit$71.00$71.00$71.00Total Cost of Bearing$135,12,720$148,70,240$192,63,720Caseing required per unit 5555Total Caseing Required249800255850321300Add: Closing Inventory of Caseing476005355071400297400309400392700Less: Opening Inventory of Caseing595004760053550Budgeted Purchase Volume (in units)237900261800339150Caseing Cost per unit$95.00$95.00$95.00Total Cost of Caseing$237,31,000$243,05,750$305,23,500Budgeted Direct Material Purchase$372,43,720$391,75,990$497,87,220

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