Umvoti Pty LTD is preparing its budget for the next four (4) months. The following information has been drawn from the budgets prepared in the planning exercise so far: Sales volume November R120 500 December R130 600 January R170 000 February R160 800 Direct material purchases November R13 450 December R13 780 January R12 890 February R13 150 Direct wages amount to R13 150. Majazana sells 10% of its goods for cash. The remainder of customers receive on month’s credit. Payments to material suppliers are made in the month following purchase. Wages are paid as they are incurred. Production overheads are R13 200 per month. Majazana takes one month credit on production overheads. Included in the amount for overheads is depreciation charge of R1 300. Selling, distribution and administrative expenses amount to R10 890 per month. The company plans to purchase a delivery vehicle December for a cash purchase of R60 000. The net balance at the end of November was R5 000. Required: Complete the following cash budgets by choosing the correct answers from the options provided. December January Opening balance Blank 1 Blank 2 Cash sales Blank 3 Blank 4 Credit sales Blank 5 Blank 6 Total receipts Blank 7 Blank 8 Less: payments Blank 9 Blank 10 Material purchases Blank 11 Blank 12 Direct wages Blank 13 Blank 14 Production overheads Blank 15 Blank 16 Selling, distribution and administrative expenses 11 890 11 890 Delivery vehicle 60 000 Closing balance Blank 17 Blank 18

Umngeni (Pty) Ltd uses normal costing. The following data have been taken from the accounting records of Umgeni (Pty) Ltd for the month of April 2024: RSales1 980 000Selling expenses280 000Manufacturing overheads incurred460 000Manufacturing overheads absorbed445 000Direct labour400 000Administrative expenses300 000Direct materials issued to production180 000Finished goods inventory, beginning240 000Finished goods inventory, ending320 000Raw materials inventory, beginning80 000Raw materials inventory, ending140 000Work in process inventory, beginning140 000Work in process inventory, ending100 000Required:Calculate the following items and fill in the missing data by choosing the correct answers from the options provided:(a)        Cost of the raw materials purchased during the month of April. RBlank 1140 000Blank 2Blank 3Blank 4Blank 5Blank 6Blank 7Cost of the raw materials purchasedBlank 8 (b)        Cost of goods manufactured for the month of April. RBlank 9Blank 10Blank 11180 000Direct labourBlank 12Blank 13Blank 14Blank 15Blank 16Blank 17Blank 18Cost of goods manufacturedBlank 19(c)        Cost of goods sold for the month of April. RBlank 20240 000Blank 21Blank 22Blank 23Blank 24Blank 25Blank 26Blank 27Blank 28 Blank 29Blank 30Adjusted cost of goods soldBlank 31

Mzwakhe Pty Ltd has provided you with the following information to assist in the budget preparation. The marketing department has estimated monthly sales as follows:MonthUnitsJuly6 000August7 000September5 000October4 000November3 000 The selling price per unit is R150 per unit.   All sales are on credit.  Based on the past experience, credit sales are expected to be collected in the following pattern:         40% in the month of sale.         50% in the month following sale.         10% uncollectable.The beginning of accounts receivable balance (excluding uncollectable amounts) on 1 July will be R130 000.  The company maintains finished goods inventories equal 10% of the following month’s budgeted sales. The inventory of finished goods on 1 July will be 600 units.  Each unit requires two (2) kilograms of Material B on hand at the end of each month equal to 20% of the following month’s production needs.  The inventory of Material B on hand in July will be 2 400 kilograms.  Material A costs R10 per kilogram. Each unit requires 1,5 hours at R50 per hour.Required:Filli in the missing figures by choosing the correct answer from the options provided:1.  Production budget AugustSeptemberBudgeted sales in units7 0005 000Add: Blank 1Blank 2Blank 3Total needs  Less: Blank 4Blank 5Blank 6Units to be producedBlank 7Blank 82.      Collection from customers JulyAugustAccounts receivableBlank 9 July salesBlank 10Blank 11August sales Blank 12Total cash collectionsBlank 13Blank 143. Material purchases budget for AugustProduction requiredBlank 15X 2 kgBlank 16Total needsBlank 17Add: closing inventoryBlank 18Materials neededBlank 19Less: opening inventoryBlank 20Total material purchasesBlank 21Cost per kgBlank 22Total material costBlank 23

Jack Pty Ltd prepares his accounts on a monthly basis. He receives an order in March for $3000 worth of goods, the goods are delivered to the customer in May together with an invoice and the account is settled in July. Under an accrual system of accounting, in which month is the $3000 recognised as income?Group of answer choicesMarchIt doesn't matterJulyMay

Usiba (Pty) Ltd manufactures cellphone chips. An extract from a company's third quarter sales budget for 2024 is as follows: RJuly1 080 700August870 200September1 055 480 Twenty five percent (25%) of sales are paid for immediately in cash. Of the credit customers, sixty percent (60%) pay in the month of sale and are entitled to a one percent (1%) discount. The remaining customers pay a month after the sale is made. The budgeted sales for June 2024 amount to R995 750.The production budget for cellphone chips for July 2024 to September 2024 is as follows. JulyAugustSeptemberProduction units3 0502 8603 620 Each unit of cellphone chip requires 75 minutes of direct labour. The direct labour rate is R40 per hour. Wages are paid in the month of production. Production units of 2 590 cellphone chips are planned to be produced in June 2024.The budgeted raw material purchases is as follows.JulyAugustSeptemberRRR270 300284 000289 100 Fifty percent (50%) of material purchases are paid for immediately in cash. Credit purchases are paid for in the month following purchase. The raw material purchases with the value of R240 550 are budgeted for the month of June 2024.All other costs are paid as incurred.Required:Calculate the missing data in the following cash budget and choose the correct answer from the options provided. (Round off to the nearest R1, where applicable).JulyAugustSeptember RRROpening balance of cashBlank 1461 185Blank 2Cash inflows:   Cash collection from salesBlank 3Blank 4Blank 5Cash outflows:   Raw material purchasesBlank 6Blank 7Blank 8Direct labour paymentBlank 9Blank 10Blank 11Payment of other expenses298 000275 000345 200Net cash surplus/(deficit)461 185Blank 12Blank 13

22) Following information are provided: [6]Budget Head Annual Budget Expenditure upto Falgun Expenditure of ChaitraSalary 1,80,000 1,20,000 15,000Fuel 60,000 40,000 5,000Office materials 36,000 24,000 3,000Miscellaneous expenditure 48,000 32,000 4,000Furniture 24,000 16,000 2,000Machinery 96,000 70,000  Additional information:Revolving fund received Rs. 3,50,000.Petty Cash balance Rs 1,000.Unclear furniture advance Rs 2,000.Required: Statement of Expenditure for the month of chaitra.