QUESTION 2 
  (20) 
  
  REQUIRED 
  
  Use the information provided below to prepare the Cash Budget of Project M for June, July and August 2020. (Note: Use separate monetary columns for each month. A total column is not required.) 
  
  INFORMATION 
  
  The management accountant of Remax Limited prepared the following forecasted sales schedule of Project M for the five months ended 31 August 2020: 
  
April  R100 000 
May R130 000 
June  R150 000 
July R160 000 
August R210 000 
  
                 
  Additional information
1. Cash sales usually comprise 70% of the total sales.
2. The remaining sales are on credit and these are collected as follows:
 -30% in the month of the sale, with a 5% cash discount applicable;
 
-70% in the month after the sale.
3. The monthly purchases of materials equal 25% of the sales value of the same month (before any discounts) but are paid for two months after the month of purchase.
4. Fixed production overheads, excluding depreciation of R3 000, amount to R20 000 per month and they are payable in the month in which they are incurred.
5. Marketing overheads as a fixed percentage of the monthly sales value (before discounts) will be maintained during the budgeted period. Marketing overheads for May 2020 are expected to amount to R19 500. Marketing overheads are paid at the end of the applicable month.
6. Production salaries and wages are budgeted at R25 000 per month and are paid for in the applicable month. Employees are entitled to a 10% increase in remuneration with effect from 01 July 2020.
7. A packing machine that costs R50 000 is expected to be purchased on credit on 31 July 2020. A deposit of R10 000 will be paid on 31 July 2020 and the balance plus finance charges of R5 000 will be paid in 10 equal monthly instalments commencing 31 August 2020.
8. A favourable bank balance of R18 000 is expected on 31 May 2020.
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Project Management Assignment Scenario Answers

You have been appointed as a project Manager for a project that requires a special attention to prepare a project document for the Top Management.
You project should be a small-sized project (up to $1 million in value) which is to be completed longest by a year of its commencement. The project must have at least 10 main activities.
 

Project Document includes

Define your organization and importance of the project. (20 Marks)
Nominating an organization of your choice whose operating in disciple of construction/ management/ Marketing/Technology. Nominate a suitable project (for example road development, sub divisional development, power station, an ERP establishment, installation, maintenance, surveying, etc.)
Prepare a Project scope statement for your project (30 Marks)
Create a list of activities and it duration for the project (15 Marks)
Incorporate a list of resources required for each activity listed (10 Marks)
Cost estimation: – The estimated cost for developing and managing the entire project should include the infrastructure costs of project including salary, hardware, software and other cost which you think possible. (10 Marks)
Draw a Gantt chart to schedule the entire project (7 Marks)
Presentation of the report including Executive Summary, Tables of Content, etc. (5 Marks)
Any special finding you have investigated worth mentioning should be added to give your report an extra edge.
You are also encouraged to add in pictures of the relevant categories that you could acquire either from the Internet or newspapers cuttings.
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