ACCT 322 SEU Managerial Accounting Characteristics of Flexible Budgets Discussion

ACCT 322 SEU Managerial Accounting Characteristics of Flexible Budgets Discussion
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• Submissions without this cover page will NOT be accepted.
Assignment Question(s):
[5 marks]
Q1. What are the Characteristics of Flexible Budgets? Give an example of Saudi Company that
prepare them
[1 Mark]
Q2. Karim Corporation is considering two alternatives that are code-named A and B. Costs
associated with the alternatives are listed below:
Alternative A
Alternative B
Supplies costs
SAR 33 000
SAR 33 000
Assembly costs
SAR 48 000
SAR 51 000
Power costs
SAR 32 000
SAR 22 000
Inspection costs
SAR 11 000
SAR 27 000
1
Required:
a. Which costs are relevant and which are not relevant in the choice between these two
alternatives?
[0.5 Mark]
b. What is the differential cost between the two alternatives?
[0.5 Mark]
Q3. Mushrif Company has projected sales and production in units for the second quarter of 2017
as follows
Particular
April
May
June
Sales
35,000
25,000
30,000
Production
30,000
25,000
40,000
Cash production costs are budgeted at SAR 7 per unit produced. Of these production costs, 30%
are paid in the month in which they are incurred and the balance in the following month. Selling
and administrative expenses (all paid in cash) amount to SAR 70,000 per month. The accounts
payable balance on March 31 totals SAR 100,000, all of which will be paid in April.
Assume that all units will be sold on account for SAR 20 each. Cash collections from sales are
budgeted at 70% in the month of sale, 20% in the month following the month of sale and the
remaining 10% in the second month following the month of sale. Accounts receivable on March
31 totaled SAR 300,000.
2
Required
A. Prepare a schedule for each month showing budgeted cash disbursements for Mushrif
Company.
[1.5 Marks]
B. Prepare a schedule for each month showing budgeted cash receipts for Mushrif Company.
[1.5 Marks]
3

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