FNSACC412_TL_SW_Appx_Activity 3 Purchase Budget

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School

TAFE NSW - Sydney Institute *

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Course

FNSACC412-

Subject

Management

Date

May 15, 2024

Type

xlsx

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9

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OFFICIAL _x000D_ OFFICIAL Question 1 - Purchases Budget in Units The Bluth Company, Future sales in units, have been estimated at: Units January 20,000 February 35,000 March 40,000 April 38,000 Management requires closing inventories represents 70% of next month’s sales requirements. 70% Selling price is $20.00 per unit. Purchase price is $12.00 per unit. SP $20.00 PP $12.00 January February March Quarter Sales (units) 20,000 35,000 40,000 95,000 24,500 28,000 26,600 26,600 Total requirements 44,500 63,000 66,600 174,100 14,000 24,500 28,000 14,000 Purchases (in units) 30,500 38,500 38,600 107,600 Cost per unit $12.00 $12.00 $12.00 Cost of Purchases $ $366,000 $462,000 $463,200 $1,291,200 Closing stock Prepare the Purchases budget for the three months ending 31 st March. The Bluth Company - Purchases Budget for the quarter ending 31 st March. add closing stock (units) less opening stock (units)
OFFICIAL #_x000D_ _x000D_ # OFFICIAL Question 2 Quark’s Bar serves Mochaccinos. His expected sales for the next 5 months are: July August September October November 500 450 600 750 700 No of bags 1 20,000 18,000 24,000 30,000 28,000 No of Beans 200 Mochaccinos need 40 Mochaccino beans for 1 cup of Mochaccino. Quark purchases the beans from a remote location with irregular transport and must therefore keep 2 months’ supply on hand at the end of every month. The beans are bought in bags which contain 200 beans at a cost of $50 per bag for July and August but increases to $55.00 for September. Prepare: the purchases budget for Mochaccino beans for July, August, September and the quarter detailing the number of bags to be purchased and the total purchases in dollars Quark’s Bar Purchases Budget for the quarter ending 30 Sept July August September Quarter Sales (beans) 20,000 18,000 24,000 62,000 42,000 54,000 58,000 58,000 Total requirements 62,000 72,000 82,000 216,000 38,000 42,000 54,000 38,000 Purchases (in beans) 24,000 30,000 28,000 82,000 Bags /200 120 150 140 410 Cost per bag $50.00 $50.00 $55.00 Cost of Purchases $ $6,000.00 $7,500.00 $7,700.00 $21,200.00 add closing stock (beans) less opening stock (beans)
OFFICIAL #_x000D_ _x000D_ # OFFICIAL Question 3 – Mark-up on Cost and Margins on Sales $40.00 60/1.50 $48.00 76.80/1.60 $42.00 30*1.40 250% (((10-4)/4)*100)+100% $83,076.92 108000/130% 1.           An item selling for $60 has been marked up at 50% on cost. What is the cost price? 2.           An item selling for $76.80 has been marked up at 60% on cost. What is the cost price? 3.           An item costs $30 and a mark-up of 40% is required. What is the selling price? 4.           A box of chocolates cost $4 and sells for $10. What is the margin on sales? 5.           Sales are $108,000. The margin on sales is 30%. What is the cost of sales?
OFFICIAL #_x000D_ _x000D_ # OFFICIAL Question 4 - Purchases Budget with Mark-up Sales Budget July Aug Sept Oct Sales units 800 830 700 760 Selling Price $10.00 $10.00 $10.00 $10.00 Sales $ $8,000.00 $8,300.00 $7,000.00 $7,600.00 Closing stock must be held at 20% of next months’ sales requirements. The goods are sold at a markup of 25% on cost. Prepare a purchases budget for the months of July, August, Sept and for the Quarter. Purchases Budget for the quarter ending September July Aug Sept Quarter Sales (units) 800 830 700 2330 add closing stock (units) 166 140 152 152 Total requirements 966 970 852 2788 less opening stock (units) 160 166 140 160 Purchases (in units) 806 804 712 2322 Cost per unit $8.00 $8.00 $8.00 Cost of Purchases $ $6,448.00 $6,432.00 $5,696.00 $18,576.00
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