Calculate the production budget (in unit) for the 1st quarter 2022 (1st January to 31st March 2022).
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Gxsport is a small business manufactures sportswear focusing on tracksuits. Gxsport
perform very well in 2021 with yearly sales amounting to RM630,000, equivalent to 12,600
pieces sold. For the 1st quarter of 2022, the sales are predicted to increase by 7% as
compared to 2021’s sales due to the raised of awareness for a healthy lifestyle.
The price of the tracksuit is RM50 per piece. The labour rate is RM7 per hour and each
piece of tracksuit requires 0.4 hours to make. Manufacturing
RM1.50 per piece. The inventory is expected to have a balance of 500 pieces of tracksuits
as at 1st January 2022 and increase by 10% as at 31st March 2022.
Calculate the production budget (in unit) for the 1st quarter 2022 (1st January to 31st March
2022).
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- 1. Gxsport is a small business manufactures sportswear focusing on tracksuits. Gxsportperform very well in 2021 with yearly sales amounting to RM630,000, equivalent to 12,600pieces sold. For the 1st quarter of 2022, the sales are predicted to increase by 7% ascompared to 2021’s sales due to the raised of awareness for a healthy lifestyle.The price of the tracksuit is RM50 per piece. The labour rate is RM7 per hour and eachpiece of tracksuit requires 0.4 hours to make. Manufacturing overheads are charges atRM1.50 per piece. The inventory is expected to have a balance of 500 pieces of tracksuitsas at 1st January 2022 and increase by 10% as at 31st March 2022. 1. Calculate the production budget (in unit) for the 1st quarter 2022 (1st January to 31st March2022).Please help meAl Nama Garment Manufacturing Company was expecting to earn a profit of 45% on Total Cost. You are required to identify from the cost sheet whether the company has earned the profit as per their expectations or not. If not find out the difference in profit which the company has earned and the company has expected.
- ZNet Co. is a web-based retail company. The company reports the following for the past year. The company’s CEO believes that sales for next year will increase by 20% and both profit margin (%) and the level of average invested assets will be the same as for the past year. 1. Compute return on investment for the past year. 2. Compute profit margin for the past year. 3. If the CEO’s forecast is correct, what will return on investment equal for next year? 4. If the CEO’s forecast is correct, what will investment turnover equal for next year? Sales . $5,000,000 Operating income . $1,000,000 Average invested assets . $12,500,000You have a tea stall in operation at Dhanmondi lake since 2018. Information of your business in 2019 are as follows: Selling price was BDT 10 per cup Average Sales volume was 35 cup per day Annual sales growth was 12% Price increases by 20% every year Monthly average selling and administration cost of the stall was: Police Commission = BDT 500/month Rent = BDT 1,000/month Utility = BDT 200/month Depreciation = BDT 60/month During a normal situation, the following growth has been observed: Raw material cost increases by 10% every year Labor cost increases by 8% every year MOH cost increases by 12% every year Selling and administration cost increases by 4% every year Make a Master Budget (Sales/Production/RM/Labor/MOH/Selling & Administrative/Cash budget) for the year 2020 (PCORONA virus year ) and another Master Budget for the year 2021 (year of new normal). You need to calculate your own production cost (raw material cost + labor cost + MOH cost) and opening/closing inventory. Show…Which is not an example of a well stated financial objective? Increase sales by 10% this year Reduce costs of good sold for next product launch in January 2022 Double our gross margin % by end of the year. Deliver 15% earnings growth in the 4th quarter of 2021
- The Best Appliances had the following revenue over the past five Wars, To predict revenues for 2018, The Best Appliances uses the average for the Past five years. The company’s breakeven revenue is $800,000 per year. What is The Best Appliance’s predicted margin of safety in dollars for 2018? $800,000 $0 $200,000 $100,000Smith Branded Apparel designs T-shirts for businesses and corporations. The accounting managerhas presented the latest quarter’s return on sales of 10% and asset turnover of 1.5. What is the company’s current return on investment (ROI)?HITECH ELECTRONICS HiTech Electronics manufactures two new products, Tablets and Touch Screen Remotes, and sells them nationally to wholesalers and retailers. The HiTech management is very pleased with the company’s performance for the current fiscal year. Projected sales through December 31, 2022, indicate that 70,000 Tablets and 140,000 Remotes will be sold this year. The projected earnings statement, which appears below, shows that HiTech will exceed its earnings goal of 9 percent on sales after taxes. The Tablet business has been fairly stable for the last few years, and the company does not intend to change the Tablet price. However, the competition among manufacturers of Touch Screen Remotes has been increasing. HiTech’s Remotes have been very popular with consumers.In order to sustain this interest in their Remotes and to meet the price reductions expected from competitors, management has decided to reduce the wholesale price of its calculator from $22.50 to $20.00 per unit…
- You have a tea stall in operation at Ramna park since 2015. Information of your business in 2018 are as follows: Selling price was BDT 10 per cup Average Sales volume was 35 cup per day Annual sales growth was 12% Price increases by 20% every year Monthly average selling and administration cost of the stall was: Police Commission = BDT 500/month Rent = BDT 1,000/month Utility = BDT 200/month Depreciation = BDT 60/month During a normal situation, the following growth has been observed: Raw material cost increases by 10% every year Labor cost increases by 8% every year MOH cost increases by 12% every year Selling and administration cost increases by 4% every year Make a Master Budget (Sales/Production/RM/Labor/MOH/Selling & Administrative/Cash budget) for the year 2019 (Pre CORONA virus year ) and another Master Budget for the year 2020 (CORONA virus year). You need to calculate your own production cost (raw…HiTech Electronics manufactures two new products,Tablets andTouch Screen Remotes, and sells them nationally to wholesalers andretailers. The HiTech management is very pleased with the company’sperformance for the current fiscal year. Projected sales throughDecember 31, 2022, indicate that 70,000Tablets and 140,000Remoteswill be sold this year. The projected earnings statement, which appearsbelow, shows that HiTech will exceed its earnings goal of 9 percent onsales after taxes.The Tablet business has been fairly stable for the last few years,and the company does not intend to change the Tablet price. However,the competition among manufacturers of Touch Screen Remotes has beenincreasing. HiTech’sRemotes have been very popular with consumers.In order to sustain this interest in theirRemotes and to meet the pricereductions expected from competitors, management has decided to reducethe wholesale price of its calculator from $22.50 to $20.00 per uniteffective January 1, 2023. At the same…The Simpson Corporation has gathered information regarding past sales of custom t-shirts. Year Sales 2013 $225,000 2014 $193,000 2015 $248,000 2016 $360,000 2017 $340,000 2018 $295,000 2019 $310,000 Answer the following questions. Predict the sales for 2020 using the moving average method. You noticed a sudden jump in sales for 2016. After inquiring about this jump, you were notified by your manager about a one-time special order sale for $60,000 in that year that is not likely to be repeated. What revision, if any, would you make in the sales information used for projection? If you revised your historical sales to be used to project 2020 sales, please recalculate your projection using the moving average method. Which projection (Question 1 or Question 3) do you feel is more representative of the Simpson Corporation's historical sales? Why?
