Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question1
Consider the following statement: It is most sensible to start with the sales budget and develop the other budget from there. After what you have learned this week with regards to budget processes and procedures, analyse the validity of this statement. Do you agree with the statement? Justify your answer based on the week's readings. How should sales revenues be considered when determining other costs?
Question 2
A consulting firm produces a service that requires the use of labor and materials. Each unit of service requires a standard labor time of 30 minutes (0.5 hours). The average pay rate for a labor hour is £20. The consulting firm considers all materials that are required for the service as variable overheads (OH), the cost of which is directly associated with the labor hours worked. It has been estimated that variable OH rate is £10 per service hour.
The budgeted and actual costs, revenue and units for the month November are given in the table below:
Original Budget
Actual
Units of Service
1,500
1,600
Sales Revenue
£120,000
£124,400
Labor hours
750
860
Labor cost
£15,000
£20,210
Variable OH costs
£7,500
£8,170
Fixed Cost
£68,000
Total Cost
£90,500
£96,380
Operating Profit
£29,500
£28,020
1. Calculate the flexed budget and the key variances between budgeted and actual results.
2. Reconcile the original budget and present the relationship between the budgeted and the actual profit for the month November
3. Discuss the calculated variances, and provide suggestions for better cost management (target length 300 words).
The contribution margin in mall store is $200,000. Total fixed costs are $90,000 in downtown store and $93,000 in the mall location. How much are sales at mall location?
How would you improve it? Calculate alternative rates that you would use and explain why you think it would help Rex. You should draw on information provided in Tables 1 to 4 to support your recommendation.
In a probability-proportional-to-size sample with a sampling interval of $10,000, an auditor discovered that a selected account receivable with a recorded amount of $5,000 had an audited amount of $4,000.
Product Gallons Sales value Cost after Final - Number of gallons and round percentages to one decimal place i.e. 25.5% or .255.
Prepare form 1065, Schedule K, and relevant supporting schedules for ROCK the Ages, LLC, leaving blank any items where insufficient information has been provided. If you are using tax return preparation software, also prepare Form 4562 and Schedul..
Cash dividends of $84,006 were declared during the year. Cash dividends payable were $9,560 and $13,334 at the beginning and end of the year, respectively. Determine the amount of cash for the payment of dividends during the year.
Determine the activity rate (i.e., predetermined overhead rate) for each of the four activity cost pools. (Round your answer to 2 decimal places. Omit the "$" sign in your response. and compute the unit product cost of each product. (Round your ans..
net salvage valueallen air lines have to liquidate some equipment that is being replaced. the equipment originally cost
as of january 1 2011 survival industries inc. brought a boat at a cost of 360000.when purchased the corporation was
The gain realized on the sale of the assets and the balances in the partners-2019 capital accounts after the distribution of this gain or loss to the capital accounts.
Through the year, Designs, Inc. made estimated tax payments of $1,500 each quarter to the IRS.
The standard materials cost of a product is $40 per unit, based on 10 pounds of raw materials at a standard cost of $4 per pound. During January 20X9, 1,000 units of product were produced, using 10,200 pounds of raw material at a cost of $4.20..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd