Please don't provide answer in image format thank you Master budget: cash budget - Practice 3The following information is available for ABC Co.Budgeted salesGross profit as a percentage of salesClosing trade payables as a percentage of cost of salesOpening inventoryClosing inventoryABCDMay$$10,500$14,000$24,500$30,000NilNilHow much money should be budgeted for supplier payments in June?30,00030%50Jun$NilNil40,00030%50% XYZ company produces three products: X, Y and Z. For the coming accounting period, budgets are to be preparedbased on the following information.Budgeted sales: Product X 2,000 at $100 eachProduct Y4,000 at $130 eachProduct Z3,000 at $150 eachBudgeted usage of raw materialProduct XProduct YProduct ZCost per unit of materialFinished inventories budgetOpeningClosingRaw materials inventory budgetOpeningClosingExpected hours per unitExpected hourly rate (labour)RM11532$5Product X500600RM1121,00018,000Product X4$9RM22221$3Product Y8001,000RM2210,0009,000Product Y6$9RM331234$4Product Z700800RM3316,00012,000Product Z8$9Required:Prepare for product X, Y & Za. sales budget: quantity and value.b. production budget.c. material: usage & purchase budget.d. labour budget.

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Master budget: cash budget - Practice 3 The following information is available for ABC Co. Budgeted sales Gross profit as a percentage of sales BUD May $ Closing trade payables as a percentage of cost of sales Opening inventory Nil Closing inventory Nil How much money should be budgeted for supplier payments in June? A $10,500 B $14,000 $24,500 $30,000 C 30,000 30% 50 Jun $ Nil Nil 40,000 30% 50%

Master budget: cash budget - Practice 3 The following information is available for ABC Co. Budgeted sales Gross profit as a percentage of sales BUD May $ Closing trade payables as a percentage of cost of sales Opening inventory Nil Closing inventory Nil How much money should be budgeted for supplier payments in June? A $10,500 B $14,000 $24,500 $30,000 C 30,000 30% 50 Jun $ Nil Nil 40,000 30% 50%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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