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Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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- Kirchoff, Inc., manufactures a product with the following costs: Direct materials Per Unit Per Year P18.00 Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable SG&A expenses P11.90 P2.10 P1,422,000 P3.60 Fixed SG&A expenses The pricing calculations are based on budgeted production and sales P1,540,500Alphabeta Corporation sells three products: J, K, and L. The following information was taken from a recent budget: J 40,000 $60 40 K 130,000 $80 L 30,000 $75 Unit sales Selling price Variable cost 65 50 Total fixed costs are anticipated to be $2,450,000. Required: A. Determine Alphabeta's sales mix. B. Determine the weighted-average contribution margin. C. Calculate the number of units of J, K, and L that must be sold to break even. D. If Alphabeta desires to increase company profitability, should it attempt to increase or decrease the sales of product K relative to those of J and L? Briefly explain.Can you help me calculate the following from the information provided below: Ascot (Pty) Ltd manufactures a single product and the following budget has been produced by the management accountant: Sales at R250 per unit R1 000 000 Variable costs R600 000 Fixed manufacturing, administrative and marketing costs R250 000 All the units produced are expected to be sold 1.1) Break-even value using the marginal income ratio 1.2) Margin of safety (in units) 1.3) Break-even quantity if a sales commission of 20% is introduced. _____________________________________________________________________________________ Use the information provided below to answer the following questions independently: Kempster Limited expects to incur the following costs to produce and sell 20 000 units of its product at R30 each: Variable manufacturing cost R14 per unit Fixed manufacturing cost R100 000 Variable marketing cost 20% of sales Fixed marketing and administrative cost R40 000 2.1…
- Use the information given below to calculate each of the following independently 3.1 Expected total Marginal Income and Net Profit/Loss Slumber Limited manufactures beds. The following information was extracted from the budget for 2024:Expected production and sales (units) 1 200Selling price per bed R6 000Direct materials cost per bed R1 700Direct labour cost per bed R860Variable manufacturing overheads cost per bed R320Fixed manufacturing overheads cost R1 084 800Sales commission (as a percentage of the selling price) 20%Fixed administrative and selling costs R720 000 PLEASE PUT THE ANSWER IN RANDSREQUIRED Study the information provided below and calculate the following independently: 3.4 3.5 The total Marginal Income and Net Profit/Loss, if the selling price is adjusted to R90 per unit and the non-manufacturing fixed costs decrease by R20 000. The number of units that must be sold to earn a net profit of R1 440 000, if the variable costs increase by 10% INFORMATION Ascot Ltd manufactures shirts. The following information was extracted from the budget for the month ended 28 February 2023: Sales Selling price per unit Direct material cost per unit Direct labour cost per unit Variable manufacturing overhead costs per unit Sales commission Fixed manufacturing overhead costs Fixed selling and administrative costs 50 000 units R100 R30 R18 R7 R5 per unit sold R400 000 R200 000Hardaker Limited produces and sells two products. Product A sells for £12 per unit and has a total variable cost of £7.90, while for £17 per unit and has a total variable cost of £11.20. For every 4 units of Product A sold, three of product B are sold. Hardaker Limited fixed costs are £131,820 per period. Budgeted sales revenue for the next period is £398,500. Required: (a) Calculate the Breakeven points in Units. b) Calculate the Margin of Safety in Units (c) Evaluate the relevance of Break-Even Analysis in the modern manufacturing environment.
- 3.1 REQUIRED Calculate the following from the information given below: 3.1.1 Break-even quantity. 3.1.2 Break-even value using the marginal income 3.1.3 Margin of safety 3.1.4 Total Marginal Income and Net Profit/Loss if the sales price is reduced to R90 per unit.INFORMATION Dynamo Ltd manufactures calculators. The following information was extracted from the budget for the year ended 31 December 2023: Sales volume 20 000 units Selling price per unit R100 Variable manufacturing cost per unit R50 Variable marketing cost per unit 10% of the unit selling price Fixed manufacturing cost R400 000 Fixed administration and marketing costs R200 000Gibson Company manufactures two products. The budgeted per-unit contribution margin for each product follows: Sales price Variable cost per unit Contribution margin per unit Super $ 96 (64) a. Total number of products b. Product Super b. Product Supreme $32 Supreme $ 132 (86) Gibson expects to incur annual fixed costs of $155,660. The relative sales mix of the products is 70 percent for Super and 30 percent for Supreme. units units units $ 46 Required a. Determine the total number of products (units of Super and Supreme combined) Gibson must sell to break even. b. How many units each of Super and Supreme must Gibson sell to break even? Note: For all requirements, do not round intermediate calculations.A company makes a single product. The following is the cost structure: £ Selling price per unit 150 Direct material 40 Direct labour cost per unit 35 Variable overhead cost per unit 30 Total fixed costs 850,000 ======= Budgeted production and sales – 50,000 units Maximum possible production – 65,000 units a) i Calculate the budgeted profit. ii Calculate the break-even point in units. iii Calculate the profit if an extra £100,000 was spent on marketing and 60,000 units are made and sold. b) Explain the importance of accounting ratios.
- Use the information given below to calculate each of the following independently 3.3 Break-even quantity if the selling price drops by 10% INFORMATIONSlumber Limited manufactures beds. The following information was extracted from the budget for 2024:Expected production and sales (units) 1 200Selling price per bed R6 000Direct materials cost per bed R1 700Direct labour cost per bed R860Variable manufacturing overheads cost per bed R320Fixed manufacturing overheads cost R1 084 800Sales commission (as a percentage of the selling price) 20%Fixed administrative and selling costs R720 000 PLEASE PUT THE ANSWER IN RANDS(a) A company manufactures a single product which has variable cost of £40 per unit. The contribution to sales ratio is 45%. Monthly fixed costs are £198,000. What is the breakeven point in pounds and in units? (b) John makes and sells a product which has a variable cost of £60 and sells for £80 per unit. Budgeted fixed costs are £140,000 and budgeted sales are 16000 units. Determine the sales required to achieve this profit What is the breakeven point and margin of safety? (c) TLF Ltd wishes to sell 28,000 units of its product, which has a variable cost of £30 to make and sell. Fixed costs are £94,000 and required profit is £26,000. Calculate the sales price per unit (d) Apple Ltd makes and sells a single product, for which variable costs are follows:Direct materials $20Direct labour $16Variable production overhead $12…(a) A company manufactures a single product which has variable cost of £40per unit. The contribution to sales ratio is 45%. Monthly fixed costs are£198,000.Required:What is the breakeven point in pounds and in units?(b) John makes and sells a product which has a variable cost of £60 andsells for £80 per unit. Budgeted fixed costs are £140,000 and budgetedsales are 16000 units.Required:What is the breakeven point and margin of safety? (c) TLF Ltd wishes to sell 28,000 units of its product, which has a variablecost of £30 to make and sell. Fixed costs are £94,000 and required profitis £26,000.RequiredCalculate the sales price per unit(d) Apple Ltd makes and sells a single product, for which variable costs arefollows:Direct materials £20Direct labour £16Variable production overhead £12 £48The sales price is £60 per unit, and fixed costs per annum are £136,000. Thecompany wishes to make a profit of £32,000 per annum.Required:Determine the sales required to achieve this profit (e) Product…