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a company has budgeted to produce and sell 100000 units of a product, the selling price and the variable cost per unit of which is rs 20 and rs 12 respectively.fixed costs which are budgeted at rs 60000 for the period are likely to rise to rs 70000 if activity level goes beyond 11000 units and fall to rs 48000, if the activity level is less than 9000 units. it is also estimated that variable costs will fall by 5% per unit for all units, it the activity level goes beyond 10000 units. if the actual resuls for the period are as given below:
Units produced and sols rs 11500, sales revenue rs 224250, variable cost rs 132000, fixed costs rs 67000. prepare a fixed budget and a flexible budget. Show the usefulness of fixed budgeting and flexible budgeting from the view point of control.
Evaluate the dollar cost of each of proposed plans for obtaining an initial loan amount of $100,000 and which plan do you recommend? Why?
Purpose the journal entries to account for the lease transaction in the books of the lessor, Machine Guarantee Limited. Purpose the journal entries to account for the lease transaction in the books of the lessee, Simons Limited.
Determine the key areas being addressed by the EITF and assess how a company's accounting and financial reporting is likely to be impacted by the work being done by the EITF on this issue.
Budgeting involves computation of cash budget - which is also its minimum required cash balance. There is an outstanding loan of $2,000 on March 1. Prepare a cash budget for March, April, and May.
Incremental revenue and incremental income (loss) associated with accepting the special order.
Illustrate what is the rationale of the GASB for requiring two sets of financial statements, each with a different measurement focus and basis of accounting for governmental activities?
Jaye's Company paid $600 cash to replace a part on equipment sold under warranty. To recognize this payment, which of the following are correct?
Prepare the journal entry under basis 2, assuming that Chester Company did not remit payment until July 29.
Illustrate what bonus system would you suggest that incorporates these measures and also encourages the managers to work as a team?
Preparation of statement of cash flow statement using direct method - Prepare a statement of cash flows for the month of January 2007. Use good form and the direct format.
Asset cost allocation - Prepare a single journal entry to record all the incurred costs assuming they are paid in cash on January 1, 2013 and use straight line method, prepare the December 31 adjusting entries to record depreciation for the 12 month..
Determine the purpose of the Statement of Cost of Goods Manufactured and determine the ending work in process inventory
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