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Information Systems for Management Accounting - Essay Example

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Summary
The author of the following paper "Information Systems for Management Accounting" deals with the Activity-based costing holding Production budget, material budget, labor budget, overhead budget, cash budget, and budgeted income statement…
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Information Systems for Management Accounting
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Extract of sample "Information Systems for Management Accounting"

The production budget is calculated on July 2008

 

Budgeted sales in units $1500

Add desired ending inventory                                    $0

= total needs                                                               $1500

Less beginning inventory                                           $0

Required Production                                                   $ 1500

 

 

 

The production budget is calculated on August 2008

Budgeted sales in units $1700

Add desired ending inventory                                    $0

= total needs                                                               $1700

Less beginning inventory                                           $ 0

Required Production                                                   $ 1700

 

 

 

The production budget is calculated on September 2008

 

 

Budgeted sales in units $1900

Add desired ending inventory                                    $0

= total needs                                                               $1900

Less beginning inventory                                           $ 0

Required Production                                                   $ 1900

 

 

The production budget is calculated on October 2008

 

Budgeted sales in units $2100

Add desired ending inventory                                    $0

= total needs                                                               $2100

Less beginning inventory                                           $ 0

Required Production                                                   $ 2100

 

 

 

The production budget is calculated on November 2008

 

Budgeted sales in units $2300

Add desired ending inventory                                    $0

= total needs                                                               $2300

Less beginning inventory                                           $ 0

Required Production                                                   $ 2300

 

 

 

 

 

The production budget is calculated on December 2008

 

Budgeted sales in units $2500

Add desired ending inventory                                    $0

= total needs                                                               $2500

Less beginning inventory                                           $ 0

Required Production                                                   $ 2500

 

The production budget is calculated on January 2009

 

 

Budgeted sales in units $2300

Add desired ending inventory                                    $0

= total needs                                                               $2300

Less beginning inventory                                           $ 0

Required Production                                                   $ 2300

 

 

 

The production budget is calculated on February 2009

 

Budgeted sales in units $2200

Add desired ending inventory                                    $0

= total needs                                                               $2200

Less beginning inventory                                           $0

Required Production                                                   $ 2200

 

 

The production budget is calculated on March 2009

 

Budgeted sales in units $1400

Add desired ending inventory                                    $0

= total needs                                                               $1400

Less beginning inventory                                           $0

Required Production                                                   $ 1400

 

 

The production budget is calculated on April 2009

 

 

Budgeted sales in units $2500

Add desired ending inventory                                    $0

= total needs                                                               $2500

Less beginning inventory                                           $ 0

Required Production                                                   $ 2500

 

 

Sales Budget for Hope Ltd.

 

Month

Units

price /unit

sales budget

2008

 

 

May

1,100

200

220000

June

1,300

200

260000

July

1,500

200

300000

August

1,700

200

340000

September

1,900

200

380000

October

2,100

200

420000

November

2,300

200

460000

December

2,500

200

500000

 

 

 

 

2009

 

 

 

January

2,300

200

460000

February

2,200

200

440000

March

1,400

200

280000

April

2,500

200

500000

Total for year

22,800

 

4560000

 

 

 

Material Purchase Budget for the Hope Limited

 

 

Units

material cost per unit

material purchase budget

2008

 

 

May

1,100

40

44000

June

1,300

40

52000

July

1,500

40

60000

August

1,700

40

68000

September

1,900

40

76000

October

2,100

40

84000

November

2,300

40

92000

December

2,500

40

100000

 

 

 

 

2009

 

 

 

January

2,300

40

92000

February

2,200

40

88000

March

1,400

40

56000

April

2,500

40

100000

Total for year

22,800

40

912000

 

 

Direct Labor Budget for the Hope Ltd.

 

 

Units

 

 

 

 

2008

labor hour per unit

total labor hour

Direct labor cost

Direct Labor Budgets

May

1,100

2

2200

8

17600

June

1,300

2

2600

8

20800

July

1,500

2

3000

8

24000

August

1,700

2

3400

8

27200

September

1,900

2

3800

8

30400

October

2,100

2

4200

8

33600

November

2,300

2

4600

8

36800

December

2,500

2

5000

8

40000

 

 

2

 

8

 

2009

 

2

 

8

 

January

2,300

2

4600

8

36800

February

2,200

2

4400

8

35200

March

1,400

2

2800

8

22400

April

2,500

2

5000

8

40000

Total for year

22,800

2

45600

8

364800

 

 

 

Production Overhead

 

 

 

 

 

£

Total Fixed Production Overhead

91200

Total Fixed Admin. And Distribution Overhead

36000

Total Fixed Overhead

 

127200

 

 

 

 

Variable Overhead

 

 

£5 per labour hour(5) (45600)

228000

 

Total overhead as

 

355200

 

 

 

Cash Budget Statement for the Month

 

may

 

 

Cash Beginning

220000

Add receipt

 

collection from customer

 

total cash from customers

 

less disbursement

 

direct material

44000

direct labor

17600

overhead

355200

selling and admin cost(2 per unit)

88000

equipment purchase

20000

total disbursement

524800

Cash Budgeting for the month

-304800

 

 

Cash Budget Statement for the Month

 

June

 

 

Cash Beginning

260000

Add receipt

 

collection from customer

 

total cash from customers

 

less disbursement

 

direct material

52000

direct labor

20800

overhead

355200

selling and admin cost(2 per unit)

104000

equipment purchase

20000

total disbursement

552000

Cash Budgeting for the month

-292000

 

 

 

 

Cash Budget Statement for the Month

July

 

 

Cash Beginning

300000

Add receipt

 

collection from customer

220000

total cash from customers

520000

less disbursement

 

direct material

60000

direct labor

24000

overhead

355200

selling and admin cost(2 per unit)

120000

equipment purchase

20000

total disbursement

579200

Cash Budgeting for the month

-59200

Cash Budget Statement for the Month

 

August

Cash Beginning

 

Add receipt

340000

collection from customer

 

total cash from customers

260000

less disbursement

600000

direct material

 

direct labor

68000

overhead

272000

selling and admin cost(2 per unit)

355200

equipment purchase

136000

total disbursement

20000

Cash Budgeting for the month

851200

 

-251200

 

 

 

Cash Budget Statement for the Month

 

September

 

 

Cash Beginning

380000

Add receipt

 

collection from customer

300000

total cash from customers

680000

less disbursement

 

direct material

76000

direct labor

30400

overhead

355200

selling and admin cost(2 per unit)

152000

equipment purchase

20000

total disbursement

633600

Cash Budgeting for the month

46400

 

 

 

Cash Budget Statement for the Month

 

October

 

 

Cash Beginning

420000

Add receipt

 

collection from customer

340000

total cash from customers

760000

less disbursement

 

direct material

84000

direct labor

33600

overhead

355200

selling and admin cost(2 per unit)

168000

equipment purchase

20000

total disbursement

660800

Cash Budgeting for the month

99200

 

 

 

Cash Budget Statement for the Month

 

November

 

 

Cash Beginning

460000

Add receipt

 

collection from customer

380000

total cash from customers

840000

less disbursement

 

direct material

92000

direct labor

36800

overhead

355200

selling and admin cost(2 per unit)

184000

equipment purchase

20000

total disbursement

688000

Cash Budgeting for the month

152000

 

 

Cash Budget Statement for the Month

 

December

 

 

Cash Beginning

500000

Add receipt

 

collection from customer

420000

total cash from customers

920000

less disbursement

 

direct material

100000

direct labor

40000

overhead

355200

selling and admin cost(2 per unit)

200000

equipment purchase

20000

total disbursement

715200

Cash Budgeting for the month

204800

 

 

 

Cash Budget Statement for the Month

 

January

 

 

Cash Beginning

460000

Add receipt

 

collection from customer

460000

total cash from customers

920000

less disbursement

 

direct material

92000

direct labor

36800

overhead

355200

selling and admin cost(2 per unit)

184000

equipment purchase

20000

total disbursement

688000

Cash Budgeting for the month

232000

 

 

Cash Budget Statement for the Month

 

February

 

 

Cash Beginning

440000

Add receipt

 

collection from customer

500000

total cash from customers

950000

less disbursement

 

direct material

88000

direct labor

35200

overhead

355200

selling and admin cost(2 per unit)

176000

equipment purchase

20000

total disbursement

674400

Cash Budgeting for the month

275600

 

 

 

 

Cash Budget Statement for the Month

 

march

 

 

Cash Beginning

280000

Add receipt

 

collection from customer

460000

total cash from customers

740000

less disbursement

 

direct material

56000

direct labor

22400

overhead

355200

selling and admin cost(2 per unit)

112000

equipment purchase

20000

total disbursement

565600

Cash Budgeting for the month

174400

 

 

Cash Budget Statement for the Month

 

April

 

 

Cash Beginning

500000

Add receipt

 

collection from customer

440000

total cash from customers

940000

less disbursement

 

direct material

100000

direct labor

40000

overhead

355200

selling and admin cost(2 per unit)

200000

equipment purchase

20000

total disbursement

715200

Cash Budgeting for the month

224800

 

 

Hope Limited

Budgeted Income Statement

For the Year 2009

 

 

sales

 

 

4560000

less cost of goods sold

1632000

gross margin

 

2928000

Less selling and admin. Cost

1824000

net operating income

 

1104000

 

Description: the overall company efficiency was increased later due to the credit sale for two months that causes a loss. Therefore, the company must decrease its credit sale. On the other hand, its distribution and administrative cost is also huge which is also required to minimize. Over all company goes in profit with time but its efficiency can be increased by lowering its cost.

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