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solution

Section A.BFM
Answer ALL questions in this section.
a. Identify and briefly explain any four ways in which Corporations differ from Sole
proprietors and Partnerships (8 marks)
b. Outline any four roles of commercial banks in Botswana. (4 marks)
c. Eric Clothing Limited’s annual demand for materials X is 50 000 units, and the ordering cost
is P10 000 per order and each unit costs P3 000. The estimated cost of holding unit of stock
is 15% of the purchase cost.
Required:
i. Calculate the economic order quantity (EOQ) and; (4 marks)
ii. Calculate the total annual costs of material X. (4 marks)
d. Distinguish between the following:
i. Operating cash flow and the free cash flow of a business. (6 marks)
ii. Public offering market from Private offering market. (6 marks)
iii. Ramuthunyana (Pvt) Ltd. is comparing budget and actual data for the last four months.
Budget Actual
P P
Sales 950 000 922 500
Cost of sales
Raw materials 133 000 130 500
Direct labour 152 000 153 000
Variable production
overheads 100 700 96 300
Fixed production
overheads 125 400 115 300
TOTAL 438 900 427 400

The budget was prepared based on 95 000 units produced and sold, but actual production and
sales for the four months period were 90 000 units.
Ramuthunyana (Pvt) Ltd uses standard costing and absorbs fixed production overheads on a
machine hour basis. A total of 28 500 standard machine hours were budgeted. A total of 27 200
machine hours were actually used in the period.
Required:
e.Prepare a revised budget at the new level of activity using a flexible budgeting approach
(8 marks)

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