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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 

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