Essay about Accounting

Individual Task 30% (40 marks)


Spears Limited is involved in manufacturing of special part (KWQ 12) be used in for calculators. Being a step toward reducing uncertainness over the financial needs from the new business, the finance supervisor has asked you to prepare a cash budget for Spears Ltd for the nine (9) months period from 1 January 2014 till 31 September 2014.

You have collected some organic data in the concerned section heads and tabulated all of them as follows:

a) The following are product sales for the nine month period will be as follows:

Product sales Forecast


Estimated Product sales Units


250, 000February255, 000March264, 000April290, 000May315, 000June340, 000July365, 000August270, 000September 257, 000October310, 000

The predicted selling price per special part is $5. 00. The collections pertaining to the above product sales forecast will be as follows: we. Collection from customers within the month of sale = 10% ( deemed to become cash sales)

ii. Collection from consumers following the month of sale = 50%

iii. Collection from consumers following the second month of sales sama dengan 30%

4. 10% of the sales will be estimated to become irrecoverable.

b)Direct materials will be acquired a month prior to production and are paid the following month of order. One special part (KWQ 12) uses 2 units of direct components. The company retains stock of 25% in the next weeks estimated sales.

Balance of direct elements as at 31 Dec 2013 sums to a hundred and forty, 000 units of direct material for $0. 25 per unit. There is no difference in the cost immediate material. c) The Direct Labour expense is paid in the month when such costs are received.

The number of hours estimated happen to be as follows:

JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptember120, 000125, 000130, 000128, 000142, 000154, 000165, 000178, 000190, 000The firm pays $1. 50 per direct time hour.

d)Operating Expenses are estimated being $332, 1000 per month which is paid out end...


 Blair Maynard TMA04 A8541288 Research Conventional paper
Blair Maynard TMA04 A8541288 Research Conventional paper

How someone?s experiences of obtaining tattoos and piercings impacts their perception of home identity. Using a phenomenological approach. Abstract Body art, body piercings and various forms of physique…...