Managing Financial Resources and Decisions

Section A
As part of the expansion plan of Hardwood Ltd included setting up a separate production unit for contemporary designed furniture expected to start production in 2015.  John wanted to ensure sufficient funds were available to finance the expansion based on current assumptions. The following information is available

Forecast of income and expenses for Feb – Sep 2015 are as follows:
Feb    Mar    Apr    May    Jun    Jul    Aug    Sep
Sales    270    270    270    270    270    275    280    300
Purchase    80    80    80    80    95    95    100    105
Labour    75    75    85    85    85    85    85    85
Other variable
Expenses    25    25    25    26    27    28    29    30

(Note all the figures in the table above are in £ 000)

1.    Customers are given 2 months credit.
2.    Purchases are paid after 1 month.
3.    Labour costs are paid in the month incurred.
4.    Other variable expenses are paid in the following month.
5.    Fixed expenses of £35,000 per month are paid in the following month.
6.    Purchase of new machinery costing £700,000 is scheduled for July.
7.    Other financial information are:

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