PLEASE ANSWER THE QUESTION OWN . PLEASE DO NOT COPY AND PASTE FROM ANOTHER CHEGG QUESTION. IF CAN HELP ME TO ALL THE QUESTIONS. THANK YOU .
Question 3
1 Beauty Hair Company manufactures the latest supersonic hair dryer model,'HANA'which is going to enter the Asian market for RM1,200 per unit. The following information is in
L
Budgeted sales in units:
11,000 12,000 13,000 14,500 16,000 18,500
August September October November December
50% of the sales will be collected in the same month of sales 30% of the sales will be collected in the second month of sales. 20% of the sales will be collected in the third month of sales.
II.
Variable production cost per hair dryer RM Direct materials 300 Direct labour 50 Overhead 30
ili.
Budgeted production in units:
August September October November December
12,800 13,700 15,000 16,500 19,000
iv.
It is the company policy to pay creditors for material 60% during the month of purchases and the balance will be paid next month after-sales.
Wages and variable overhead are paid within the month they are incurred.
vi. Sales commissions are 5% on sales and are to be paid in the month ol the sales are made.
vi.
Fixed overhead is RM120.000 per month,which includes depreciation of RM35.000
vili.
Fixed selling and administration are RM120,000 per month which is payable in the month it is incurred.
ix.
One of the old machines will be sold for RM30,000 in the month of October and a new
X.
The company will pay dividends which were declared at RM80,000 at the end of December.
xi.
It is expected that the cash balance on 30th September will be RM340,000
Required: a Prepare a schedule of expected cash collections from the customer for the last quarter of 2022. (8 marks)
b Prepare a schedule for payment of materials for the last quarter of 2022.
(4 marks)
c Prepare a cash budget for the last quarter of 2022
(10 marks)
