BUACC5933 Cost and Management Accounting

Published : 13-Oct,2021 | Views : 10

Question:

Create a handwritten/manual solution AND a spreadsheet solution to the following problem. Follow the template provided.Create a spreadsheet solution showing the row and column headings and the formula view. Your report section should be completely formula driven. Scan or use your phone to copy and paste an image of your handwritten attempt into your assignment. If using a smart phone, consider using a free scanning app such as Camscanner, Office Lens or Google Drive or search for an app. Let us know which app you chose.Design your spreadsheet to meet the assignment requirements set out above.

Answer:

Budgeted Income Statement
Particulars	20X3	20X4	20X5	20X6
Sales Volume	34992	37791	40000	40000
Selling Price per unit	$6.97	$7.38	$8.13	$8.78
Total Sales Revenue	$2,43,824	$2,79,051	$3,25,080	$3,51,000
Less: Cost of Goods Sold (w.n.)	$1,86,192	$2,12,841	$2,38,760	$2,57,120
Gross Profit	$57,632	$66,210	$86,320	$93,880
Less: General & Administrative Expenses	$34,135.40	$39,067.20	$45,511.20	$49,140
Net Profit before Tax	$23,496	$27,143	$40,809	$44,740
Less: Income Tax @40%	$9,398.57	$10,857.31	$16,323.52	$17,896
Net Profit after Tax	$14,098	$16,286	$24,485	$26,844
Particulars	20X3	20X4	20X5	20X6
Opening Balance of Retained Earnings	$7,746	$12,680	$18,380	$26,950
Net Profit for the period	$14,098	$16,286	$24,485	$26,844
Less: Dividends Payable	$9,163.61	$10,585.87	$15,915.43	$17,448.60
Closing Balance of Retained Earnings	$12,680	$18,380	$26,950	$36,345
Particulars	20X2	20X3	20X4	20X5
Sales	32400	34992	37791	40000
Add: Closing Stock	5249	5669	6000	6000
Less: Opening Stock	3600	5249	5669	6000
Total Purchase	34049	35412	38123	40000
Units Purchase Cost	$5.10	$5.36	$5.68	$6.02
Total Purchase Cost	$1,73,649	$1,89,808	$2,16,537	$2,40,800
Opening Stock Value	$17,640	$26,769	$30,384	$34,080
Closing Stock Value	$26,769	$30,384	$34,080	$36,120