快速查题-ACCA英国注册会计师试题

Daps Co makes spades and forks. The following budgeted information is available:

                                                                                                      Month one                                  Month two

Fork production                                                                              220 units                                  240 units

Spade production                                                                           170 units                                 180 units

Each fork uses 1.5 kg of steel, and each spade uses 2 kg of steel.

No finished goods inventory is held, but Daps Co's raw material inventory policy is to hold enough material to cover half of the next month's production requirements.

A spreadsheet for the material purchases budget is being prepared for month one: 

                                 A                                                             B  

                                                                                                kgs

1              Steel required for production                                  Gap 1

2              Opening inventory                                                  Gap 2

3              Closing inventory                                                    Gap 3

4              Material purchases 

Mr Grob started trading in 20X3, selling one product, wheelbarrows, on credit to small retail outlets. The following budgeted information for 20X4 has been gathered:

                                             January 20X4                       February 20X4                          March 20X4

Credit sales                              $12,000                               $15,000                                    $21,000

Receivables have recently been settling their debts 50% in the month following sale； and 50% two months after sale. A prompt payment discount of 3% is offered to those receivables paying within one month.

The gross profit margin is expected to be 25%. Due to an anticipated continued increase in sales, Mr Grob intends to increase inventory levels in March 20X4 by $2,000, and it is intended that the payables balance is increased by $3,000 to ease cash flow in the same month.