PART A
Beta Limited has asked you, the management accountant, to prepare an annual
master budget for the year ending 31 December 2013.

Beta produces a product called Treen, presently sold only in the North Island of
New Zealand. The production process involves the input of two components of
materials – Wood and Stain.

After comprehensive consultation, you are provided with the following
information to prepare the master budget.

1Projected Balance Sheet as at 31 December 2012

Current Assets$$$
Cash at Bank15,000
Debtors (net)10,000
Inventory:
Material: Wood1,350
Material: Stain960
Finished goods: Treen19,42521,73546,735

Non-Current Assets
Plant and Machinery500,000
less accumulated depreciation (SL)10%100,000400,000
Total Assets$446,735

Liabilities
Creditors7,000
Short term Loan – repayable on 31 March 20135,00012,000

Shareholders Equity
Paid up Capital250,000
Retained Earnings184,735434,735
Total Liabilities and Equity$446,735

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