亨格瑞管理会计英文第版练习答案7.doc

CHAPTER 7 COVERAGE OF LEARNING OBJECTIVES LEARNING OBJECTIVE FUNDA- MENTAL ASSIGNMENT MATERIAL CRITICAL THINKING EXERCISES AND EXERCISES PROBLEMS CASES, EXCEL, COLLAB. INTERNET EXERCISES LO1: Explain how budgets facilitate planning and coordination. A1,B1 LO2: Anticipate possible human relations problems caused by budgets. 25 40 LO3: Explain potentially dysfunctional incentives in the budget process. 22 39, 40 LO4: Explain the difficulties of sales forecasting. 23 42 49 LO5: Explain the major features and advantages of a master budget. A1,B1 24,26 39 LO6: Follow the principal steps in preparing a master budget. A1,B1 29 40 43,45 LO7: Prepare the operating budget and the supporting schedules. A1,B1 28,29,30,31 40 43,45,46,48 LO8: Prepare the financial budget. A1,B1 27,29,32,33, 34,35 36,37,38 43,44,47,48 LO9: Use a spreadsheet to develop a budget (Appendix 7). 41,42 CHAPTER 7 Introduction to Budgets and Preparing the Master Budget 7-A1 (60-90 min.) 1. Exhibit I RAPIDBUY ELECTRONICS, INC. Mall of America Store Budgeted Income Statement For the Three Months Ending August 31, 20X8 Sales $300,000 Cost of goods sold (.62 × $300,000) 186,000 Gross profit $114,000 Operating expenses: Salaries, wages, commissions $60,000 Other expenses 12,000 Depreciation 1,500 Rent, taxes and other fixed expenses 33,000 106,500 Income from operations. $ 7,500 Interest expense* 1,338 Net income $ 6,162 * See schedule g for calculation of interest. Exhibit II RAPIDBUY ELECTRONICS, INC. Mall of America Store Cash Budget For the Three Months Ending August 31, 20X8 June July August Beginning cash balance $ 5,800 $ 5,600 $ 5,079 Minimum cash balance desired 5,000 5,000 5,000 (a) Available cash balance $ 800 $ 600 $ 79 Cash receipts disbursements: Collections from customers (schedule b) $ 75,200 $121,400 $ 90,800