Question financial accounting please answer QUESTION[20]Woheno Limited manufactures men's shirts. The followinginformation was extracted from the budget for the monthended 31 December 2021:Sales for the month15 000 unitsSelling price per unitR900Variable manufacturing cost per unitR250Selling cost per unitR50Factory overheads (all fixed)R200 000Fixed administrative costR100 000You are required to calculate the following (round off amountsto the nearest Rand or Whole number):1. Marginal income per unit.(5)1. Break-even quantity.(5)1. Break-even value.(5)2.4 Marginal income ratio.(5)

Step 1: Calculating the marginal income per unit.Marginal income per unit = Selling price per unit -…

Answered: QUESTION [20] Woheno Limited…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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From the following information which relates to Chinhamo Ltd you are required to prepare a month-by-month cash budget for the second half of 2021 and to append such brief comments as you consider might be helpful to management.(a) The company’s only product, a calfskin vest, sells at $40 and has a variable cost of $26 made up as follows:Materials $20Labour $4Overhead $2(b) Fixed cost of $6 000 per month are paid on the 28th of each month.(c) Quantities sold/ to be sold on credit are: May June July August Sept Oct Nov Dec1 000 1 200 1 400 1 600 1 800 2 000 2 200 2 600 (d) Production quantities:May June July August Sept Oct Nov Dec1 200 1 400 1 600 2 000 2 400 2 600 2 400 2 200 (e) Cash sales, at a discount of 5% are expected to average 100 units a…
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Question 1 Shiashi Ltd is preparing its manufacturing overhead budget for 2024. Relevant data consist of the following: - Units to be produced (by quarters): 20,000, 24,000, 34,000 and 36,000. Direct labour: Time is 1.5 hours per unit. Variable overhead costs per direct labour hour: Indirect materials GH¢1.40; indirect labour GH 2.40 and maintenance $1.50. Fixed overhead costs per quarter: Supervisory salaries GH 55,000; depreciation GH 27,000 and maintenance GH¢25,000. a) You are required to prepare the manufacturing overhead budget for the year, showing quarterly data. b) What does an organisation stand to gain by preparing annual budgets for its operations? c) Describe the budgeting process of any business entity that you are familiar with.
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NiNa plc manufactures 1 product; XYZ. It uses materials A and B inproduction of XYZ. The Financial Director of Rain plc has asked for yourassistance in producing the cash budget for the month of September 2021.She has provided you with the following information extracted from thefunctional budgets:July August September OctoberSales (£) 9,250,000 10,360,000 12,950,000 14,245,000Production (unit) 50,000 56,000 70,000 77,000Material A purchase(£) 1,500,000 1,680,000 2,100,000 2,310,000Material B purchase(£) 500,000 560,000 700,000 770,000Direct labour cost (£) 2,400,000 2,688,000 3,360,000 3,696,000The following additional information has also been provided to you:• Sales are 20% cash, 80% credit. Credit sales are paid one month afterthe month of sale. NiNa plc allows a 1% cash discount on all of its cashsales and the firm does not anticipate any bad debt in the foreseeablefuture.• Payment to material A supplier is made in the month following purchaseand payment to material B supplier is…
The Management Accountant of Kafululu Plc has prepared the following budget information for theyear ending 31st December 2022 for product A. Annual Fixed Costs K270,000.00 Variable costs per unit K90.00 Contribution to sales ratio(C/S) 75% Annual budget units 1,500 Required:a) Calculate the contribution per unit for Product A. b) Calculate the Unit Selling Price for Product A. c) Calculate the Break Even Point for Product A. d) Calculate the margin of safety in Units and in percentage terms. e) If the Selling Price per Unit is reduced by 10%, variable cost per Unit is increased to K100.00and Fixed costs remain unchanged, calculate:i. The new Breakeven Point. ii. The total units that should be sold in order to make a profit of K450,000 in 2020.(
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1.2 REQUIRED Use the information provided below to prepare the Direct Materials Purchases Budget for April 2019. INFORMATION The estimated sales volumes of Product Jip of Polo Manufacturers for April and May 2019 are as follows: Units April 18 000 May 15 000 The policy of Polo Manufacturers is to maintain a finished goods closing inventory each month at a level equal to 40% of the next month's budgeted sales. Each unit of Product Jip requires 2 kg of Material A and 1 kg of Material B. The costs per kg of Material A and Material B are R10 and R20 respectively. Inventories of materials are expected to be as follows: Material A Material B Opening inventory 5 000 kg 6 000 kg Closing inventory 1 000 kg 2 000 kg
Shrek & Fiona Company, manufacturer of a single product, is preparing their annual budget for 2021:Requirements:Estimate manufacturing costs and operating expensesa. Purchases (material) budgetb. Personnel budgetc. Overhead budgetd. Selling and administrative budget
Cost Accounting The following budget is prepared by the Production manager for the last quarter of 2021:Units Total CostOctober 7500 530000November 6000 440000December 5000 380000 1. What is the variable cost per unit? ______2. How much is the fixed cost? ______3. What is the estimated budget for 6500 units?______
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