Chair & Chair Finance Assingment Help With Solution

Posted on March 16, 2017

Chair & Chair Finance Assingment Help With Solution

 
Budgeting and CVP Analysis Exercises
 
Budgeting
 
Chair & Chair Limited manufactures antique-looking, oak rocking chairs. Budgeted sales for the first five months of the year are as follows:

 Budgeted sales (units)
January200
February240
March180
April160
May240

Each rocking chair requires 10 square metres of oak, at a cost of $20 per square metre.

The company wants to maintain an inventory of chairs equal to 25% of the following month’s sales. At the beginning of the year, 40 chairs are on hand.

Assume the company maintains an inventory of oak equal to 10% of the next month’s needs. At the beginning of the year, 240 square metres of oak are on hand. Inventory of oak at 31 March is estimated to be 180 square metres.

Required:

  1. Prepare a production budget, in units, for each of the first four months of the year.
  2. Prepare a purchases budget, in dollars, for each of the first three months of the year.
  3. Briefly discuss the role of budgeting in planning, control and decision making.
  4. Discuss some of the drawbacks of traditional budgeting and some of the alternatives of it

 
 

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CVP Analysis
 
Potato & Chips Limited produces two types of products: Mega1 and Mega2. The company expects to sell 1,200 units of Mega1 and 800 units of Mega2.

A projected income statement for the firm as a whole follows:

Sales$400,000
Less: Variable costs100,000
Contribution margin$300,000
Less: Fixed costs75,000
Operating income$225,000

Required:

  1. Determine the break-even point in terms of sales revenue.
  2. Determine the sales revenue necessary to generate a before-tax profitof $300,000.
  3. If Mega1 is currently selling for an average of $ 25 . Variable costs are$15 per Mega1. But the manager thinks that lowering the selling priceby $2 would increase the sales significantly. How many extra Mega1should be sold to justify the reduction in price?
  4. Briefly discuss the limitations of cost-volume-profit analysis.

 
 

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