亨格瑞管理会计英文第15版练习答案07.doc
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CHAPTER7
COVERAGEOFLEARNINGOBJECTIVES
LEARNINGOBJECTIVE
FUNDA-
MENTAL
ASSIGNMENT
MATERIAL
CRITICALTHINKINGEXERCISESANDEXERCISES
PROBLEMS
CASES,EXCEL,COLLAB.&INTERNETEXERCISES
LO1:
Explainhowbudgetsfacilitateplanningandcoordination.
A1,B1
LO2:
Anticipatepossiblehumanrelationsproblemscausedbybudgets.
25
40
LO3:
Explainpotentiallydysfunctionalincentivesinthebudgetprocess.
22
39,40
LO4:
Explainthedifficultiesofsalesforecasting.
23
42
49
LO5:
Explainthemajorfeaturesandadvantagesofamasterbudget.
A1,B1
24,26
39
LO6:
Followtheprincipalstepsinpreparingamasterbudget.
A1,B1
29
40
43,45
LO7:
Preparetheoperatingbudgetandthesupportingschedules.
A1,B1
28,29,30,31
40
43,45,46,48
LO8:
Preparethefinancialbudget.
A1,B1
27,29,32,33,34,35
36,37,38
43,44,47,48
LO9:
Useaspreadsheettodevelopabudget（Appendix7）.
41,42
CHAPTER7
IntroductiontoBudgetsandPreparingtheMasterBudget
7-A1（60-90min.）
1. ExhibitI
RAPIDBUYELECTRONICS,INC.
MallofAmericaStore
BudgetedIncomeStatement
FortheThreeMonthsEndingAugust31,20X8
Sales $300,000
Costofgoodssold（.62×$300,000） 186,000
Grossprofit $114,000
Operatingexpenses:
Salaries,wages,commissions $60,000
Otherexpenses 12,000
Depreciation 1,500
Rent,taxesandotherfixedexpenses 33,000 106,500
Incomefromoperations. $7,500
Interestexpense* 1,338
Netincome $6,162
*Seeschedulegforcalculationofinterest.
ExhibitII
RAPIDBUYELECTRONICS,INC.
MallofAmericaStore
CashBudget
FortheThreeMonthsEndingAugust31,20X8
June July August
Beginningcashbalance $5,800 $5,600 $5,079
Minimumcashbalancedesired 5,000 5,000 5,000
（a）Availablecashbalance $800 $600 $79
Cashreceipts&disbursements:
Collectionsfromcustomers
（scheduleb） $75,200 $121,400 $90,800
Paymentsformerchandise
（scheduled） （86,800） （49,600） （49,600）
Fixtures（purchasedinMay） （11,000） - -
Paymentsforoperating
expenses（schedulef） （44,600） （30,200） （30,200）
（b）Netcashreceipts&disbursements $（67,200） $41,600 $11,000
Excess（deficiency）ofcashbefore
financing（a+b） （66,400） 42,200 11,079
Financing:
Borrowing,atbeginningofperiod $67,000 $- $-
Repayment,atendofperiod - （41,000） （10,000）
Interest,10%perannum - （1,121）* （217）*
（c）Totalcashincrease（decrease）
fromfinancing $67,000 $（42,121） $（10,217）
（d）Endingcashbalance（beginning
balance+b+c） $5,600 $5,079 $5,862
*Seescheduleg
ExhibitIII
RAPIDBUYELECTRONICS,INC.
MallofAmericaStore
BudgetedBalanceSheet
August31,20X8
Assets LiabilitiesandOwners’Equity
Cash（ExhibitII） $5,862 Accountspayable $37,200
Accountsreceivable* 86,400 Notespayable 16,000**
Merchandiseinventory 37,200 Totalcurrentliabilities $53,200
Totalcurrentassets $129,462
Netfixedassets:
Owners'equity:
$33,600less $102,200plusnet
depreciationof$1,500 32,100 incomeof$6,162 108,362
Totalassets $161,562 Totalequities $161,562
*Julysales,20%×90%×$80,000 $14,400
Augustsales,100%×90%×$80,000 72,000
Accountsreceivable $86,400
**Seescheduleg
June July August Total
Schedulea:
SalesBudget
Creditsales（90%） $126,000 $72,000 $72,000 $270,000
Cashsales（10%） 14,000 8,000 8,000 30,000
Totalsales（toExhibitI） $140,000 $80,000 $80,000 $300,000
Scheduleb:
CashCollections
June July August
Cashsales $14,000 $8,000 $8,000
Onaccountsreceivablefrom:
Aprilsales 10,800 - -
Maysales 50,400 12,600 -
Junesales - 100,800 25,200
Julysales - - 57,600
Totalcollections（toExhibitII） $75,200 $121,400 $90,800
Schedulec:
PurchasesBudget May June July August
Desiredpurchases:
62%×nextmonth'ssales $86,800 $49,600 $49,600 $37,200
Scheduled:
DisbursementsforPurchases June July August
Lastmonth'spurchases（toExhibitII） $86,800 $49,600 $49,600
Otherrequireditemsrelatedtopurchases
Accountspayable,August31,2008
（62%×Septembersales-toExhibitIII） $37,200
Costofgoodssold（toExhibitI） $86,800 $49,600 $49,600
Schedulee:
OperatingExpenseBudget
June July August Total
Salaries,wages,commissions $28,000 $16,000 $16,000 $60,000
OtherVariableexpenses 5,600 3,200 3,200 12,000
Fixedexpenses 11,000 11,000 11,000 33,000
Depreciation 500 500 500 1,500
Totaloperatingexpenses $45,100 $30
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