亨格瑞管理会计英文第15版练习答案07.docx

亨格瑞管理会计英文第15版练习答案07.docx

《亨格瑞管理会计英文第15版练习答案07.docx》由会员分享，可在线阅读，更多相关《亨格瑞管理会计英文第15版练习答案07.docx（41页珍藏版）》请在冰豆网上搜索。

亨格瑞管理会计英文第15版练习答案07

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）,000

Grossprofit$114,000

Operatingexpenses:

Salaries,wages,commissions$60,000

Otherexpenses12,000

Depreciation1,500

Rent,taxesandotherfixedexpenses33,000106,500

Incomefromoperations.$7,500

Interestexpense*1,338

Netincome$6,162

*Seeschedulegforcalculationofinterest.

ExhibitII

RAPIDBUYELECTRONICS,INC.

MallofAmericaStore

CashBudget

FortheThreeMonthsEndingAugust31,20X8

JuneJulyAugust

Beginningcashbalance$5,800$5,600$5,

Minimumcashbalancedesired5,0005,0005,000

（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）42,20011,

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,$5,862

*Seescheduleg

ExhibitIII

RAPIDBUYELECTRONICS,INC.

MallofAmericaStore

BudgetedBalanceSheet

August31,20X8

AssetsLiabilitiesandOwners’Equity

Cash（ExhibitII）$5,862Accountspayable$37,200

Accountsreceivable*86,400Notespayable16,000**

Merchandiseinventory37,200Totalcurrentliabilities$53,200

Totalcurrentassets$129,462

Netfixedassets:

Owners'equity:

$33,600less$102,200plusnet

depreciationof$1,50032,100incomeof$6,162108,362

Totalassets$161,562Totalequities$161,562

*Julysales,20%×90%×$80,000$14,400

Augustsales,100%×90%×$80,00072,000

Accountsreceivable$86,400

**Seescheduleg

JuneJulyAugustTotal

Schedulea:

SalesBudget

Creditsales（90%）$126,000$72,000$72,000$270,000

Cashsales（10%）14,0008,0008,00030,000

Totalsales（toExhibitI）$140,000$80,000$80,000$300,000

Scheduleb:

CashCollections

JuneJulyAugust

Cashsales$14,000$8,000$8,000

Onaccountsreceivablefrom:

Aprilsales10,800--

Maysales50,40012,600-

Junesales-100,80025,200

Julysales--57,600

Totalcollections（toExhibitII）$75,200$121,400$90,800

Schedulec:

PurchasesBudgetMayJuneJulyAugust

Desiredpurchases:

62%×nextmonth'ssales$86,800$49,600$49,600$37,200

Scheduled:

DisbursementsforPurchasesJuneJulyAugust

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

JuneJulyAugustTotal

Salaries,wages,commissions$28,000$16,000$16,000$60,000

OtherVariableexpenses5,6003,2003,20012,000

Fixedexpenses11,00011,00011,00033,000

Depreciation5005005001,500

Totaloperatingexpenses$45,100$30,700$30,700$106,500

Schedulef:

PaymentsforOperatingExpenses

JuneJulyAugust

Variableexpenses$33,600$19,200$19,200

Fixedexpenses11,00011,00011,000

Totalpaymentsforoperatingexpenses$44,600$30,200$30,200

Scheduleg:

Interestcalculations

JuneJulyAugust

Beginningbalance$67,000$67,558$26,000

Monthly