BUSINESS 114 – Accounting for Decision Making
Assignment 1
FIRST SEMESTER, 2024
Due date: 4 pm (NZT) 22 March 2024
1. Budgeting and Professional Emails: 21 marks
(a) Prepare a Sales budget for the first quarter of 2024. (5 marks)
Sales Budget
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Jan |
Feb |
Mar |
First Quarter |
Multigrain Bread – Budgeted sales units |
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Budgeted selling price per unit |
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Multigrain Bread – Budgeted sales revenue $ |
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Blueberry Muffins – Budgeted sales units |
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Budgeted selling price per unit |
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Blueberry Muffins – Budgeted sales revenue $ |
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Cinnamon Rolls – Budgeted sales units |
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Budgeted selling price per unit |
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Cinnamon Rolls – Budgeted sales revenue $ |
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= Total Budgeted sales revenue $ |
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Expected cash collections (cash sales) 70% |
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Expected cash collections (credit sales) |
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Expected cash collections (credit sales):
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Total Sales |
Credit Sales (30%) |
Jan |
Feb |
Mar |
January |
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February |
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March |
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Total |
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(b) Prepare an Inventory purchases budget for the first quarter of 2024. (3 marks)
Inventory Purchases Budget
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Jan |
Feb |
Mar |
First Quarter |
Multigrain Bread – Budgeted purchases units |
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Budgeted purchase cost per unit |
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Multigrain Bread – Budgeted cost of purchases $ |
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Blueberry Muffins – Budgeted purchases units |
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Budgeted purchase cost per unit |
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Blueberry Muffins - Budgeted cost of purchases $ |
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Cinnamon Rolls – Budgeted purchases units |
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Budgeted purchase cost per unit |
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Cinnamon Rolls - Budgeted cost of purchases $ |
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= Total Budgeted cost of purchases $ |
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Expected cash payments |
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(c) Prepare another expenses budget for general expenses for the first quarter of 2024. (2 marks)
Other Expenses Budget (general expenses)
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Jan |
Feb |
Mar |
First Quarter |
Salary expense $ |
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Shop rental expense $ |
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Other expenses $ |
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Insurance expense $ |
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Total Other expenses (general) |
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Expected cash payments for Other expenses (general) |
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