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Unit 8: Budgetary Control
Fixed assets, net 12,500 Notes
* November 30 inventory balance = $16,000
Recent and Forecasted sales:
October = $38,000, December = $25,000, February = $75,000, April = $45,000
November = 25,000, January = 62,000, March = 38,000
Prepare a master budget including a budgeting income statement, balance sheet, statement
of cash receipts and disbursements, and supporting schedules for the months January
through March 2005.
11. In the above question, analyse if and why there is a need for a bank loan and what operating
sources provides the cash for the repayment of the bank loan?
Answers: Self Assessment
1. quantitative 2. Budgetary control
3. future 4. delegated
5. total volume 6. sales
7. internal 8. Materials/Purchase
9. Sales Overhead 10. preparation, control
11. Variable sales 12. True
13. False 14. True
15. Zero-base budgeting 16. objectives
8.9 Further Readings
Books B.M. Lall Nigam and I.C. Jain, Cost Accounting, Prentice-Hall of India (P) Ltd.
Hilton, Maher and Selto, Cost Management, 2nd Edition, Tata McGraw-Hill
Publishing Company Ltd.
M.N. Arora, Cost and Management Accounting, 8th Edition, Vikas Publishing House
(P) Ltd.
M.P. Pandikumar, Management Accounting, Excel Books.
Online links www.authorstream.com
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