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- The information provided below was taken from the records of Chotoo Projects for the financialyear ended 31 May 2020.Extract of statement of comprehensive income for the year ended 31 May 2020RRevenue 480 000Direct costs 240 000Rent income 150 000Advertising 4 800Salaries and wages 90 000Rates and taxes 1 200Other operating expenses 80 000Additional information1. Revenue is calculated as direct cost plus 25%.2. Revenue is divided equally each month. Revenue is expected to increase by 18% for thefinancial year ending 31 May 2021.POSTGRADUATE DIPLOMA IN PROJECT MANAGEMENT – ACADEMIC AND ASSESSMENT CALENDARREGENT BUSINESS SCHOOL (RBS) January 2021 173. Fifty percent (50%) of the revenue is for cash and the balance is on credit. Debtorsnormally pay their accounts as follows:• 40% in the month of the invoice, and these debtors are entitled toa 5% discount;• 55% one month after the invoice;The balance is usually written off as bad debts.4. Purchases for June and July are expected to be 30…The following information is given to you from which you are required to prepare a Statement of Cost and Sales for the period ended on 30th June 2023:Consumable material: KOpening stock 20,000Purchases 122,000Closing stock 10,000Direct wages 36,000Direct Expenses 24,000Factory overheads of direct wages Office and administration overheads 50% 20% of works costSelling and distribution expenses K3 per unit soldUnits of finished goods: In hand at the beginning of the period (Value K12,500) 500Units produced during the period 12,000In hand at the end of the period 1,500Profit on selling price 20% There is no work-in-progress either at the beginning or at the end of the period.Ron Company has the following commission schedule: Commission rate Sales 2% Up to $80, 000 Excess of $80,000 to $100,000 More than $100,000 3.5% 4% Calculate the gross earning. Employee Total sales Gross earning Lai Xiaodong %24 146,000 < Prev 6 of 16 Next ..... .....n .....
- The following information is given to you from which you are required to prepare a Statement of Cost and Sales for the period ended on 30th June 2023:Consumable material: KOpening stock 20,000Purchases 122,000Closing stock 10,000Direct wages 36,000Direct Expenses 24,000Factory overheads 50 % of direct wagesOffice and administration overheads 20% of works costSelling and distribution expenses K3 per unit soldUnits of finished goods:In hand at the beginning of the period (Value K12,500) 500Units produced during the period 12,000In hand at the end of the period 1,500Profit on selling price 20% There is no work-in-progress either at the beginning or at the end of the period.The most recent monthly income statement for Headphones Manufacturing Company is given below: Department A Department B (S) 600,340 Total (S) 1,006,990 (S) Sales 406,650 Variable expenses Contribution margin Traceable fixed expenses Segment margin Common fixed expenses Net operating income 256.530 420.000 180,340 676,530 150,120 330,460 100,000 50,120 200.000 (19,660) 300,000 30,460 20.870 29.130 50,000 29,250 (48,790) (19,540) Due to its poor result, consideration is being given to closing Department B. Studies show that if Department B is closed, 20% of its traceable fixed expenses will continue unchanged. The studies also show that closing Department B would result in a 5 percent decrease in sales in Department A. The company allocates common fixed expenses to the departments on the basis of sales dollars. Required: c) The company has done a detailed investigation to the production in Department A. Currently, department produces 4 products as follow: A B Selling price per unit…Ron Company has the following commission schedule: Commission rate Sales 2 % Up to $80,000 3.5 % Excess of $80,000 to $100,000 4 % More than $100,000 Calculate the gross earning. Employee Total Sales Gross Earnings Lauren Cleaves $ 143,000
- The most recent monthly income statement for Your Company 1s given below: total store 1 store 2 Sales $2,100,000 $1,300,000 $800,000 VC $1,260,000 $882,000 $378,000 CM $840,000 $418,000 $422,000 Traceable fixed costs $420,000 $231,000 $189,000 Segment margin $420,000 $187,000 $233,000 Common fixed costs $350,000 $210,000 $140,000 $70,000 ($23,000) $93,000 NI Your Company is considering closing Store I. If Store I is closed, one-fourth of its traceable fixed expenses would continue to be incurred. Also, the closing of Store I would result in a 20% decrease in sales in Store II. Your Company allocates common fixed expenses on the basis of sales dollars and none of these costs would be saved if a store were shut down. What is the increase or (decrease) in the net income if Store I is closed? enter an increase as a positive number and a decrease as a negative number.Consider the following Information for the business Harry's Vintage Records. Actuals from the year ended 31st December 2021; Total Sales Revenue Total Fixed Costs $380,000 $90,000 0.20 Contribution Margin Ratio Calculate Harry's profit or loss in 2021 Select one: O a. (13,000) O b. 11,000 c. 12,000 d. (14,000)Following are the details of spending pattern for a customer. Calculate the customer's past customer value based on a discount rate of 1.25% per month. January February March Purchase Amount 800 50 50 ($) Gross Contribution 240 15 15 (GC) O 350 O 290.5 300 O 276. 2
- REQUIRED: Calculate the company's total contribution margin last month. a. P924,000 b. P392,000 c. P882,000 d. P1,274,000A company has provided the following details for a month: Estimated Sales Units 16,500 Variable Selling and Administrative Expense per Unit $4.00 Fixed Selling and Administrative Expenses $95,000 Depreciation Expense included in Fixed Selling and Administrative Expense $27,000 How much is expected cash disbursements for selling and administrative expenses?Biblio Files CompanyContribution Margin Income StatementFor the Year Ended December 31, 20Y8Sales $379,000 Variable costs: Manufacturing expense$151,600 Selling expense15,160 Administrative expense60,640(227,400) Contribution margin $151,600 Fixed costs: Manufacturing expense$76,750 Selling expense8,000 Administrative expense10,000(94,750)Operating income $56,850