d) Suppose that you have decided that you want to manufacture 15% for future quarter's stock in the preceding quarter an

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D Suppose That You Have Decided That You Want To Manufacture 15 For Future Quarter S Stock In The Preceding Quarter An 1 (92.85 KiB) Viewed 32 times

d) Suppose that you have decided that you want to manufacture 15% for future quarter's stock in the preceding quarter and have it on the shelves in advance. Draw up a Production budget using the following information for 2019: (5) • Opening stock (15%) • Closing stock (15%) Direct material costs are R12.25 per unit . Direct material purchases are paid 50% cash in the quarter of purchase and 50% in the following quarter (30days). • Creditors or accounts payable will be paid at the beginning of the year and will be paid on full in the first quarter. e) It takes one hour of labour per unit at an average wage of R18 per hour to make the mobile cover. Draw up a labour budget for 2019. (5) f) MAN206 (Pty) Ltd had the similar expenses as in 2018 and wants to make provision for an adjustment of inflation of 11.5% for the 2019. Draw up a budgeted income statement for MAN206 (Pty) Ltd for 2018. Additional expenses are as follows: (10) • Interest obligation of R27855 for the year • Taxation of 28% • Operating expenses (Total labour cost) • Note: the budgeted income statement excludes Depreciation. g) MAN206 (Pty) Ltd has collected the following information to do their cash flow budget for 2019: (10) • The enterprise's bank account shows a negative at the beginning of the year. • An investment of RR15000.00 will be sold off in the third period of the year. Purchases of all current costs are spread evenly over the quarters. . Direct labour costs are settled in the period in which they are incurred. • Management wants to purchase a new vehicle for R235 000 in the third period. The enterprise pays the tax monthly in equal instalments. . Loans are paid in the second period of R7500. A loan of R550 000 will be granted in the first period of the year. . There's share capital of R497 195 (opening)
Statement of comprehensive income (income statement) and statement of financial position (balance sheet) of MAN206 (Pty) Ltd. TRIAL BALANCE Arear expenses Bank chargers Bank balance (overdrawn) Electricity Debtors Deposits Repairs Rent paid Cost of sales Commission paid Creditors Members' contribution Distributable reserves Long-term loan Wages and salaries Accountant fees Interest paid Interest received Accumulated loss the previous year Security Cleaning costs Stationery Regional Services Council levies Telephone Inventory Fixed assets - cost price - depreciation Sales Transport and deliveries Insurance Depreciation 2019 dr 14520 21450 137852 2500 29542 145289 2305000 120850 945871 15984 28000 425870 8900 8520 1582 6029 15280 458970 625000 55663 35799 258700 5667171 2019 St 5792 1520 21589 600 612057 150000 485 4875128 5667171
Statement of financial positional position (balance sheet) as at 28 February 2019 EMPLOYMENT OF CAPITAL Non - current assets Current assets Inventory Debtors Deposits (investment) Bank Balance TOTAL ASSETS Members' contribution Accumulated loss Distributable reserves Members' interest Non-current loan debt Current liabilities Creditors Arear expenses Bank overdraft EQUITY AND LIABILITIES 2018 R 625000 599322 458970 137852 2500 0 1224322 600 432764 612057 1045421 150000 28901 21589 5792 1520 1224322 2017 R 633795 327258 175000 27000 2500 122758 961053 250 -425870 712865 287245 365000 265839 244969 8100 0 918084
MAN206 (Pty) Ltd Statement of comprehensive income (income statement) for the year ending 28 February 2019 INCOME Sales Less: cost of sales Gross income Interest received EXPENDITURE Bank charges Electricity Repairs Rent paid Commission paid Wages and salaries Accountant's fees Security Cleaning costs Stationery Regional Services Council levies Telephone Transport and deliveries Insurance Depreciation NET PROFIT / (LOSS) BEFORE INTEREST Less: Interest paid NET PROFIT /(LOSS) AFTER INTEREST 2018 R 4875128 2305000 2570128 485 1711979 14520 21450 29542 145289 120850 945871 15984 8900 8520 1582 6029 15280 55663 35799 258700 886634 28000 858634 2017 R 1956888 1062193 894695 178 930210 9843 12725 10890 104853 30000 425843 4500 1748 1845 1310 3125 5770 31405 32325 225513 -6820 28518 -35338