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budgeting

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › budgeting

  • This topic has 3 replies, 2 voices, and was last updated 1 year ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • April 14, 2024 at 12:00 am #703873
    Abikus
    Participant
    • Topics: 2
    • Replies: 2
    • ☆

    The XYZ company produces three products, X, Y, and Z. For the coming accounting period
    budgets are to be prepared using the following information:
    Budgeted sales
    Product X 2,000 units at $100 each
    Product Y 4,000 units at $130 each
    Product Z 3,000 units at $150 each
    Standard usage of raw material
    Wood
    (kg per unit) Varnish
    (litres per unit)
    Product X 5 2
    Product Y 3 2
    Product Z 2 1
    Standard cost of raw materialStandard cost of raw material $8 $4
    Inventories of finished goods
    X Y Z
    Opening 500u 800u 700u
    Closing 600u 1,000u 800u
    Inventories of raw materials
    Wood
    (kg)
    Varnish
    (litres)
    Opening 21,000 10,000
    Closing 18,000 9,000
    Labour
    X Y Z
    Standard hours per unit 4 6 8
    Labour is paid at the rate of $3 per hourLabour is paid at the rate of $3 per hourLabour is paid at the rate of $3 per hourLabour is paid at the rate of $3 per hourLabour is paid at the rate of $3 per hour
    Prepare the following budgets:
    (a) Sales budget (quantity and value)
    (b) Production budget (units)
    (c) Material usage budget (quantities)
    (d) Material purchases budget (quantities an

    April 14, 2024 at 12:11 am #703874
    Abikus
    Participant
    • Topics: 2
    • Replies: 2
    • ☆

    The XYZ company produces three products, X, Y, and Z. For the coming accounting period
    budgets are to be prepared using the following information:
    Budgeted sales
    Product X 2,000 units at $100 each
    Product Y 4,000 units at $130 each
    Product Z 3,000 units at $150 each
    Standard usage of raw material
    Wood(kg per unit) Varnish (litres per unit)
    Product X 5 2
    Product Y 3 2
    Product Z 2 1
    Standard cost of raw materialStandard cost of raw material $8 $4
    Inventories of finished goods X Y Z
    Opening 500u 800u 700u
    Closing 600u 1,000u 800u
    Inventories of raw materials Wood(kg) Varnish(litres)
    Opening 21,000 10,000
    Closing 18,000 9,000
    Labour X Y Z
    Standard hours per unit 4 6 8
    Labour is paid at the rate of $3 per hour.
    Prepare the following budgets:
    (a) Sales budget (quantity and value)
    (b) Production budget (units)
    (c) Material usage budget (quantities)
    (d) Material purchases budget (quantities an
    e Labour budget (hours and value)

    April 14, 2024 at 12:17 am #703875
    Abikus
    Participant
    • Topics: 2
    • Replies: 2
    • ☆

    can not find the answer

    April 14, 2024 at 7:46 am #703883
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54705
    • ☆☆☆☆☆

    This example is from our free lecture notes and (as with all the examples in the notes) the answer is worked through in our free lectures.

    There is no point in using the notes without watching the lectures – they are lecture notes and it is in the lectures that I work through the examples and explain and expand on the notes.

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
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