Material uses and purchases budget, Financial Management

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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

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