亨格瑞管理会计英文第15版练习答案07.docx

CHAPTER 7 COVERAGE OF LEARNING OBJECTIVES CRITICAL CASES, FUNDA- THINKING EXCEL, MENTAL ASSIGNMENT EXERCISES AND COLLAB. INTERNET LEARNING OBJECTIVE MATERIAL EXERCISES PROBLEMS EXERCISES LO1: Explain how budgets A1,B1 facilitate planning and coordination. LO2: Anticipate possible 25 40 human relations problems caused by budgets. LO3: Explain potentially dysfunctional incentives in 22 39, 40 the budget process. LO4: Explain the difficulties of sales 23 42 49 forecasting. LO5: Explain the major A1,B1 24,26 39 features and advantages of a master budget. LO6: Follow the principal A1,B1 29 40 43,45 steps in preparing a master budget. LO7: Prepare the operating budget and the supporting A1,B1 28,29,30,31 40 43,45,46,48 schedules. LO8: Prepare the financial A1,B1 27,29,32,33, 36,37,38 43,44,47,48 budget. 34,35 LO9: Use a spreadsheet to develop a budget (Appendix 41,42 7). CHAPTER 7 Introduction to Budgets and Preparing the Master Budget 1.Exhibit I 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 Operating expenses: $114,000 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 $ 75,200$121,400 $ 75,200 $121,400 $ 90,800 (86,800) (11,000) (49,600) - (49,600) - (44,600) $(67,200) (30,200) $ 41,600 (30,200) $ 11,000 (66,400) 42,200 11,079 $ 67,000 - - $ - (41,000) (1,121)* $ - (10,000) (217)* $ 67,000 $(42,121) $(10,217) $ 5,600 $ 5,079 $ 5,862 Collections from c