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- The following information was gathered by the Budget Committee Chairman of ABC Corporation: ABC Co. produces and sells only one product. The selling price during the budget period is expected to be the prevailing price of ₱7.50 per unit. The company expects to sell 112,500 units of the product during the period. The desired finished goods inventory at the end of the period is 75,000 units while the expected beginning inventory is 62,500 units. Direct labor is ₱4.50 per hour. Each product requires 30 minutes to complete. Factory overhead is applied to production on the basis of direct labor hours. Variable factory overhead cost at the planned level of operations is budgeted at ₱49,800. Fixed budgeted overhead is ₱149,400. Each unit of product requires 1.5 kgs. of raw materials. Only one kind of raw material is used and it is expected to cost ₱0.30 per kilo. The desired ending inventory of raw materials is 12,000 kgs. the expected beginning inventory is 9,500 kilograms. Variable selling…West Company’s contribution format income statement for March 2020 is givenbelow:Sales (15,000 units X $30 per unit) $450,000Variable expenses 315,000Contribution margin 135,000Fixed expenses 90,000Net operating income $ 45,000The industry in which West Company operates is quite sensitive to regularmovements in the economy. Thus, profits vary considerably from year to yearaccording to general economic conditions. The company has a large amount ofunused capacity and is studying ways of improving profits.Required:The company CEO has asked you as a Senior Manager to evaluate the belowsituations with recommendations:1- New equipment has come onto the market that would allow WestCompany to automate a portion of its operations. Variable expenseswould be reduced by $9 per unit. However, fixed expenses wouldincrease to a total of $225,000 each month. How Net Income wouldappear if the new equipment were purchased. As a Senior Manager,what factor/s would be paramount in your mind deciding…The bulk of government expenditure flows into two main areas of responsibility: education andhealth. The National Budget tabled by Finance Minister Tito Mboweni on 24 February 2021stated that there will be a cut of 15 million rand in the health budget over the next three yearsas well as cuts in the various parts of basic education. Draw a Production Possibilities Curveillustrating these two government expenditures. On the same graph, illustrate and explain thechange of the PPC.
- ro forma income statement. Given the income statement , for California Cement Company for 2013 and an expected sales growth rate of 6.67% for 2014, prepare a pro forma income statement for 2014. First, find the percentage of each income statement line from 2013 as a percent of sales. (Round to three decimal places.) California Cement Company Income Statement for 2013 Sales revenue $ 22,869,000 Cost of goods sold $ -11,637,000 Selling, general, and administrative expenses $ -3,993,000 Depreciation expenses $ -1,331,000 EBIT $ 5,908,000 Interest expense $ -175,000 Taxable income $ 5,733,000 Taxes $ -2,512,462 Net income $ 3,220,538 What is the sales forecast for 2014? (Round to the nearest dollar.) The pro forma income statement for 2014 is: (Round to the nearest dollar.) California Cement Company Pro Forma Income Statement for 2014 Sales revenue $ ? 100.00% Cost of goods sold $ ? 50.885 %…XYZ has one of the world’s largest mobile communications networks, with 83,900 employees serving over370 million customers across more than 30 countries. With 2,200 retail stores and a further 10,300branded franchises throughout the world. XYZ products include messaging services for businesses andconsumers, smartphones, mobile handsets and tablets. Its current strategy is aimed at increasing the‘average revenue per user’ through offering more and more added value mobile servicesMorris White, winner of the 2011 Procurement Leader Award, was brought in to be the Global SupplyChain Management Director and chief executive officer of the XYZ Procurement Company. His role was tonot only manage the complexity of the procurement and supply chains for both goods and services butalso fundamentally transform several fragmented supply chains into a single global function.The XYZ Procurement Company was set up in 2008 with its headquarters based in Luxembourg. Through‘lean’ procurement techniques…1. Let’s say that last November you have sold 10,000 pieces of chrysanthemum at 25 pesos each. For every piece sold, you will be given a commission of 10%. How much was your total commission? * a. 2.50 b. 225,000 c. 10,000 d. 250,000 e. 25,000 2. Camille forecasts to sell 575 units of the perfume she is selling by the first week of December. At the end of the 1st week of December, she was able to disposed 500 perfumes at Php150 each. Of these 500 units, she gave a total of 20 giveaways. The total cost for each perfume is Php120. Determine Camille’s sale volume variance to assess how the variance affect the total profit. * a. 11,250 b. 1,500 c. 9,000 d. 2,250
- Gadget King Corporation manufactures personal computers, tablets and mobile phones. The company began operations in 2015 and reported profits for the years 2015 through 2018. Due primarily to increased competition and price slashing in the industry, 2019’s income statement reported a loss of P15,000,000. Just before the end of the 2020 financial year, a memo from the company’s chief financial officer to Hendrick Cruz, the company controller and Nathan Santos, the company director for finance, included the following comments: If we don’t do something about the large number of unsold computers, tablets and mobile phones already manufactured, our auditors will require us to write them off. The resulting loss for2020 will cause a violation of our debt covenants and force the company into bankruptcy. I suggest that you ship half of our inventory to Bilis Benta, Inc., in Quezon City. I know the company’s president and he will accept the merchandise and acknowledge the shipment as purchase.…Camille forecasts to sell 575 units of the perfume she is selling by the first week of December. At the end of the 1st week of December, she was able to disposed 500 perfumes at Php150 each. Of these 500 units, she gave a total of 20 giveaways. The total cost for each perfume is Php120. Determine Camille’s net sales volume. * a. 75 b. 480 c. 500 d. 20 2. The amount of your product that you will need to produce and sell to cover total costs of production. * a. Break even sales volume b. Sales volume percentage c. Sales volumeCamille forecasts to sell 575 units of the perfume she is selling by the first week of December. At the end of the 1st week of December, she was able to disposed 500 perfumes at Php150 each. Of these 500 units, she gave a total of 20 giveaways. The total cost for each perfume is Php120. Determine Camille’s net sales volume. *4802075500 Let’s say that last November you have sold 10,000 pieces of chrysanthemum at 25 pesos each. For every piece sold, you will be given a commission of 10%. How much was your total commission? *225,00025,00010,0002.50250,000
- 4.1REQUIREDStudy the information given below and calculate the following if the sales manager’s proposal is accepted:4.1.1 Break-even quantity.4.1.2 The number of units that must be sold to achieve the company’s profit objective. INFORMATIONSirloin Enterprises manufactures a product that sells for R9 each. The company presently produces and sells 90 000 units per year. Total variable manufacturing costs and selling costs are R405 000 and R81 000 (10% of sales) respectively. Fixed costs are R226 440 for manufacturing overheads and R97 200 for selling and administrative activities.The sales manager has proposed that the price be increased to R10.80 per unit. The company’s profit objective is 10% of sales. 4.2 ENO Ltd, a pharmaceutical company, is seeking finance for the development of a vaccine aimed at reducing the spread the Corona virus. The company is seeking funding only from the public in the form of equity as well as long-term borrowing.In light of the above, critically discuss…Louis Clark, the new administrator for the surgical clinic, was trying to figure out how to allocate his indirect expenses. His staff was complaining that the current method of taking a percentage of revenues was unfair. He decided to try to allocate utilities expense based on square footage for each department, to allocate administration expense based on direct costs, and to allocate laboratory expense based on direct costs, and to allocate laboratory expense based on tests. What would the results be?ProFood Supply Company This case revolves around the issue of sales strategy. Jon is faced with two alternative sales strategies for trying to make his sales quota. Neither appears to be a good short term solution. Summary ProFood Supply Company, founded in New York in 1960, has grown steadily over the decades to become one of the largest full-service institutional food suppliers in the nation, selling perishable and non-perishable foods and foodservice supplies such as tablecloths, napkins, and tableware. In the past year, ProFood had begun an aggressive push into a new market segment, the hotel/motel restaurant market. Jon Menzes, the ProFood sales representative in Nashville, Tennessee, has been with the company for two years and hopes to move into management someday. His sales manager, Emily Lewis, told him that if he finished the year over 100% of his sales versus quota that he would be put into the pool of candidates considered for a promotion during the next twelve months. To…