Prepare the following budgets for the 6 months ending September 2013. You are required to use...

    

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Prepare the following budgets for the 6 months ending September 2013. You are required to use Excel spreadsheets, which can be copied into word once you finish, should you wish. a) Sales budget b) Cash Budget c) Debtors Budget d) Creditors Budget e) Production Cost Budget f) Raw Materials and finished goods Budget g) Profit and Loss Account Budget h) Balance Sheet Budget Draw conclusions from your budgets and prepare a short management report using the information below. Asian Ltd Balance Sheet as at 31st March 2014 Fixed Assets Current Assets Debtors Stock Current Liabilities NET Assets Creditors (Feb £16,000, March £20,000) Bank Finance by: £ (Feb £20000, March £28000) Raw Materials Finished Goods Net Current Asset/Working Capital 200,000 Share Capitals Profit and Loss Total Shareholders funds £48,000 £18,000 £26,000 £92,000 -36,000 -6,000 -42,000 50,000 250,000 100,000 25,000 250,000 Additional Information: Fixed Assets are depreciated at 20% straight line method per year. Purchases will be £5,000 in April, increasing by £1000 per month and paid 2 months after purchase. Sales in April will be £20,000, increasing by £2,000 per month and paid 2 months in arrears. Production costs per unit will be: Direct materials £15 Direct Labour £12 Production overheads £5 Direct Labour and production overheads are paid as they are incurred. Production units per month are 500 units. Sales units in April are 400 units, increasing by 40 units per month. Expenses run at £10,000 per month, paid in the month that they are incurred. Prepare the following budgets for the 6 months ending September 2013. You are required to use Excel spreadsheets, which can be copied into word once you finish, should you wish. a) Sales budget b) Cash Budget c) Debtors Budget d) Creditors Budget e) Production Cost Budget f) Raw Materials and finished goods Budget g) Profit and Loss Account Budget h) Balance Sheet Budget Draw conclusions from your budgets and prepare a short management report using the information below. Asian Ltd Balance Sheet as at 31st March 2014 Fixed Assets Current Assets Debtors Stock Current Liabilities NET Assets Creditors (Feb £16,000, March £20,000) Bank Finance by: £ (Feb £20000, March £28000) Raw Materials Finished Goods Net Current Asset/Working Capital 200,000 Share Capitals Profit and Loss Total Shareholders funds £48,000 £18,000 £26,000 £92,000 -36,000 -6,000 -42,000 50,000 250,000 100,000 25,000 250,000 Additional Information: Fixed Assets are depreciated at 20% straight line method per year. Purchases will be £5,000 in April, increasing by £1000 per month and paid 2 months after purchase. Sales in April will be £20,000, increasing by £2,000 per month and paid 2 months in arrears. Production costs per unit will be: Direct materials £15 Direct Labour £12 Production overheads £5 Direct Labour and production overheads are paid as they are incurred. Production units per month are 500 units. Sales units in April are 400 units, increasing by 40 units per month. Expenses run at £10,000 per month, paid in the month that they are incurred.

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