Material uses and purchases budget, Financial Management

XYZ company produces three products X,Y and Z. for the coming accounting period budgets are to be prepared based on following information.

Budgeted Sales

Product X       2,000 at RO 100 each

Product Y       4,000 at RO 130 each

Product Z        3,000 at RO 150 each

Budgeted usage of raw material

 

RM11

RM22

RM33

Product X

5

2

-

Product Y

3

2

2

Product Z

2

1

3

Cost per unit of material

RO 5

RO 3

RO 4

Finished stocks budget

 

Product X

Product Y

Product Z

Opening

500

800

700

Closing

600

1,000

800

Raw material stocks budget

 

RM11

RM22

RM33

Opening

21,000

10,000

16,000

Closing

18,000

9,000

12,000

 

Product X

Product Y

Product Z

Expected hours per unit

4

6

8

Expected hourly rate (labour)

RO 9

RO 9

RO 9

Required;

Draw up the following functional budgets.

a)  Sales budget in terms of both quantity and value

b)  Production budget

c)  Material usage budget

d) Material purchases budget

e) Labour budget

Posted Date: 2/19/2013 7:23:07 AM | Location : United States







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