Prepare a cash budget showing a schedule of cash receipts Prepare a variance analysis Requirements :

This assignment requires students to:

Prepare a cash budget showing a schedule of cash receipts

Prepare a variance analysis  

Requirements:

Students are required to complete the assignment individually.

Complete Part A and B (see below).  

A hardcopy of  the assignment is to be submitted with a Griffith College assignment coversheet at the start of class in week 11.

Please do not bind your assignment. Staple the assignment in the top left-hand corner.

Assignment Information

Part A – Practical Question  (4 Marks)

Archies Pty Ltd is preparing a cash budget for  October, 2016.  The following information relates to sales and purchases for the business:

1.  Sales

    a) The sales are made up of  20% cash sales and 80% on credit.

                b)  35% of invoices are collected in the month they are invoiced.  60% are

        collected in the  month  after the sale and 5% are uncollectible

Required:

Prepare the following schedules for Archies Pty Ltd for October, 2016:

i.Cash collections schedule

Projected monthly sales are:

$___________________________________

August     236,500

September                 224,400

October     275,680

Part B – Practical Question  (6 Marks)

Markons Pty Ltd make household products which they sell to shops and households.  One of its most popular products is a cleaning detergent called Sparkle.  Markons Pty Ltd use a traditional standard costing system and below are the  materials, and labour standard costs to produce one box of Sparkle detergent.

Direct Materials 1.5 kg @ $12 per kg$18.00

Direct manufacturing labour 0.5 hr @ $24 per hr$12.00

During the year 4000 boxes of Sparkle detergent were produced and sold.  The actual costs of materials and labour to produce 4000 boxes were as follows:-

Direct materials  6500 kg @11.50 per kg$74,750

Direct manufacturing labour1960 hrs @ $25 per hr$49,000

Required:

i.Calculate price and efficiency variances for direct materials and direct manufacturing

Labour variances    (4 marks)

ii.Explain one reason for each of the material and labour variances (2 marks)

Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more