Company cash budget for november in good form

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Reference no: EM13785924

1) Sango Enterprises Accounting Department collects all pertinent monthly operating data. Selected data are presented below for the current month. From the data provided, please provide Sango Enterprises Management with a flexible budget analysis to see how costs were controlled.

	Actual Costs Incurred	Static Budget
Activity level (in units)	6,256	6,250

Variable costs:
Indirect materials	$23,150	$23,050
Utilities	$22,750	$22,900
Fixed costs:
General and administrative	$62,900	$64,950
Rent	$65,000	$63,275

2) The following data (in thousands of dollars) have been taken from the accounting records of the Maroon Corporation for the just-completed year.

Sales	1,150
Raw materials inventory, beginning	15
Raw materials inventory, ending	40
Purchases of raw materials	150
Direct labor	250
Manufacturing overhead	300
Administrative expenses	500
Selling expenses	300
Work in process inventory, beginning	100
Work in process inventory, ending	150
Finished goods inventory, beginning	80
Finished goods inventory, ending	120

Use the above data to prepare (in thousands of dollars) a schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold for the year. In addition, what is the impact on the financial statements if the ending finished goods inventory is overstated or understated? 3)Jiji Corporation is preparing its cash budget for November. The budgeted beginning cash balance is $19,000. Budgeted cash receipts total $177,500 and budgeted cash disbursements total $165,300. The desired ending cash balance is $42,750. The company can borrow up to $110,000 at any time from a local bank, with interest not due until the following month.

Required: Prepare the company's cash budget for November in good form

Reference no: EM13785924

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