Syarikat Serimas Bhd sales data as follows: November 2021 Disember 2021 January 2022 90,000 250,000 340,000...

 

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Syarikat Serimas Bhd sales data as follows: November 2021 Disember 2021 January 2022 90,000 250,000 340,000 120,000 150,000 Cash sales Credit sales Total 400,000 270,000 390,000 550,000 1. The company's management Account Receivables Policy is 60% collected within the sales month, while the rest is collected in the following month. The direct material purchase per month is 70% of the estimated sales of the following month. All purchases are made on credit at 30% repayment made in the month of purchase and the remainder paid within the following month. 2. Estimated payment as follows: Nov Dis Direct labor 53000 83000 66000 Manufacturing overhead (Included Depreciation RM 1000) Selling and administrative expenses 27000 16500 15000 3. Business policy is to keep a minimum cash balance of RM60,000 and investment or loan is required in any month to keep a minimum cash. REQUIRED : Prepare November and December 2021 i) Schedule of expected collections from customers (Nov=RM162,000. Dis RM334,500) ii) Schedule of expected payments for direct material (Nov=RM115,500. Dis=RM340,900) ii) Cash Budget Syarikat Serimas Bhd sales data as follows: November 2021 Disember 2021 January 2022 90,000 250,000 340,000 120,000 150,000 Cash sales Credit sales Total 400,000 270,000 390,000 550,000 1. The company's management Account Receivables Policy is 60% collected within the sales month, while the rest is collected in the following month. The direct material purchase per month is 70% of the estimated sales of the following month. All purchases are made on credit at 30% repayment made in the month of purchase and the remainder paid within the following month. 2. Estimated payment as follows: Nov Dis Direct labor 53000 83000 66000 Manufacturing overhead (Included Depreciation RM 1000) Selling and administrative expenses 27000 16500 15000 3. Business policy is to keep a minimum cash balance of RM60,000 and investment or loan is required in any month to keep a minimum cash. REQUIRED : Prepare November and December 2021 i) Schedule of expected collections from customers (Nov=RM162,000. Dis RM334,500) ii) Schedule of expected payments for direct material (Nov=RM115,500. Dis=RM340,900) ii) Cash Budget

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