Q3 (a) Jati Jentayu Sdn Bhd manufactures and sells furniture that has peak sales in the third month. The following information concerns operations for the year 2022. • The company's single product sells for RM150 per unit. All sales are on credit. The budgeted sales in units for the four months are shown in Table Q3(a). Table Q3(a): Budgeted Sales of Jati Jentayu Sdn Bhd Year 2022 February 1,800,000 12,000 12,600 Month Budgeted sales (RM) Budgeted unit sales Units to be produced . January 1,350,000 9,000 9,200 It takes 3 hours to produce one product. The average wage cost per hour is RM15. Sales are collected in the following pattern: 55% in the month the sales are made. The remaining 45%, in the following month. (b) On 1 January, 2022, the company's balance sheet showed RM75,630 in account receivables, all of which will be collected in the first quarter of the year. Bad debts are negligible and can be ignored. (ii) Prepare the following budgets and a schedule for the first quarter of the year, showing both months and total figures: (i) Direct labour budget. March 2,700,000 18,000 18,200 Schedule of expected cash collections. State THREE (3) objectives of budgeting. 1

Q3 (a) Jati Jentayu Sdn Bhd manufactures and sells furniture that has peak sales in the third month. The following information concerns operations for the year 2022. • The company's single product sells for RM150 per unit. All sales are on credit. The budgeted sales in units for the four months are shown in Table Q3(a). Table Q3(a): Budgeted Sales of Jati Jentayu Sdn Bhd Year 2022 February 1,800,000 12,000 12,600 Month Budgeted sales (RM) Budgeted unit sales Units to be produced . January 1,350,000 9,000 9,200 It takes 3 hours to produce one product. The average wage cost per hour is RM15. Sales are collected in the following pattern: 55% in the month the sales are made. The remaining 45%, in the following month. (b) On 1 January, 2022, the company's balance sheet showed RM75,630 in account receivables, all of which will be collected in the first quarter of the year. Bad debts are negligible and can be ignored. (ii) Prepare the following budgets and a schedule for the first quarter of the year, showing both months and total figures: (i) Direct labour budget. March 2,700,000 18,000 18,200 Schedule of expected cash collections. State THREE (3) objectives of budgeting. 1

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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