亨格瑞管理会计英文第15版练习答案07

亨格瑞管理会计英文第15版练习答案07 CHAPTER 7

COVERAGE OF LEARNING OBJECTIVES

CRITICAL CASES,

FUNDA- THINKING EXCEL,

MENTAL EXERCISES COLLAB. &

ASSIGNMENT AND INTERNET LEARNING OBJECTIVE MATERIAL EXERCISES PROBLEMS EXERCISES LO1: Explain how budgets A1,B1 facilitate planning and

coordination.

LO2: Anticipate possible 25 40 human relations problems

caused by budgets.

LO3: Explain potentially 22 39, 40 dysfunctional incentives in

the budget process.

LO4: Explain the difficulties 23 42 49 of sales forecasting.

LO5: Explain the major A1,B1 24,26 39 features and advantages of a master budget.

LO6: Follow the principal A1,B1 29 40 43,45 steps in preparing a master

budget.

LO7: Prepare the operating A1,B1 28,29,30,31 40 43,45,46,48 budget and the supporting

schedules.

LO8: Prepare the financial A1,B1 27,29,32,33, 36,37,38 43,44,47,48 budget. 34,35

LO9: Use a spreadsheet to 41,42 develop a budget (Appendix

7).

Copyright ?2011 Pearson Education, Inc., Publishing as Prentice Hall. 272

CHAPTER 7

Introduction to Budgets and Preparing the Master Budget

7-A1 (60-90 min.)

1. Exhibit I

RAPIDBUY ELECTRONICS, INC.

Mall of America Store

Budgeted Income Statement

For the Three Months Ending August 31, 20X8

Sales $300,000

Cost of goods sold (.62 × $300,000) 186,000 Gross profit $114,000 Operating expenses:

Salaries, wages, commissions $60,000

Other expenses 12,000

Depreciation 1,500

Rent, taxes and other fixed expenses 33,000 106,500 Income from operations. $ 7,500 Interest expense* 1,338 Net income $ 6,162 * See schedule g for calculation of interest.

Copyright ?2011 Pearson Education, Inc., Publishing as Prentice Hall. 273

Exhibit II

RAPIDBUY ELECTRONICS, INC.

Mall of America Store

Cash Budget

For the Three Months Ending August 31, 20X8

June July August

Beginning cash balance $ 5,800 $ 5,600 $ 5,079

Minimum cash balance desired 5,000 5,000 5,000

(a) Available cash balance $ 800 $ 600 $ 79

Cash receipts & disbursements:

Collections from customers

(schedule b) $ 75,200 $121,400 $ 90,800

Payments for merchandise

(schedule d) (86,800) (49,600) (49,600)

Fixtures (purchased in May) (11,000) - -

Payments for operating

expenses (schedule f) (44,600) (30,200) (30,200)

(b) Net cash receipts & disbursements $(67,200) $ 41,600 $ 11,000

Excess (deficiency) of cash before

financing (a + b) (66,400) 42,200 11,079

Financing:

Borrowing, at beginning of period $ 67,000 $ - $ -