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Self-test problem 3.5 Refer to Self-test problem 3.1. Rundle Ltd provides you with the following information relating to estimated expenses. Expense details Sales representatives' salaries Cartage outwards Advertising General salaries and wages $72 000 pa apportioned equally each month 5% of sales 3% of sales $144 000 pa apportioned equally each month $2 400 pa apportioned equally each month Audit fees Payroll on-costs (treated as an administration expense) Rent Depreciation Telephone Stationery 15% of total payroll $43 200 pa apportioned equally each month $27 600 pa apportioned equally each month $1 800 pa apportioned equally each month $1 800 pa apportioned equally each month Interest on loan January-$830 February-$820 March-$810 Bank charges $720 pa apportioned equally each month

Self-test problem 3.5 Refer to Self-test problem 3.1. Rundle Ltd provides you with the following information relating to estimated expenses. Expense details Sales representatives' salaries Cartage outwards Advertising General salaries and wages $72 000 pa apportioned equally each month 5% of sales 3% of sales $144 000 pa apportioned equally each month $2 400 pa apportioned equally each month Audit fees Payroll on-costs (treated as an administration expense) Rent Depreciation Telephone Stationery 15% of total payroll $43 200 pa apportioned equally each month $27 600 pa apportioned equally each month $1 800 pa apportioned equally each month $1 800 pa apportioned equally each month Interest on loan January-$830 February-$820 March-$810 Bank charges $720 pa apportioned equally each month

FINANCIAL ACCOUNTING
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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Only solve the question 3.5
**Self-test Problem 3.1** Rundle Ltd has estimated sales for January to April as follows: | Month | Sales ($) | |----------|-----------| | January | 150,000 | | February | 180,000 | | March | 120,000 | | April | 165,000 | The mark-up on cost is 50%, and management requires that opening stock be 90% of sales (at cost) each month.
Transcribed Image Text:**Self-test Problem 3.1** Rundle Ltd has estimated sales for January to April as follows: | Month | Sales ($) | |----------|-----------| | January | 150,000 | | February | 180,000 | | March | 120,000 | | April | 165,000 | The mark-up on cost is 50%, and management requires that opening stock be 90% of sales (at cost) each month.
**Self-test Problem 3.5** Refer to Self-test problem 3.1. Rundle Ltd provides you with the following information relating to estimated expenses. **Expense Details** - **Sales representatives’ salaries:** $72,000 per annum apportioned equally each month - **Cartage outwards:** 5% of sales - **Advertising:** 3% of sales - **General salaries and wages:** $144,000 per annum apportioned equally each month - **Audit fees:** $2,400 per annum apportioned equally each month - **Payroll on-costs** (treated as an administration expense): 15% of total payroll - **Rent:** $43,200 per annum apportioned equally each month - **Depreciation:** $27,600 per annum apportioned equally each month - **Telephone:** $1,800 per annum apportioned equally each month - **Stationery:** $1,800 per annum apportioned equally each month **Interest on Loan** - January — $830 - February — $820 - March — $810 **Bank Charges** - $720 per annum apportioned equally each month.
Transcribed Image Text:**Self-test Problem 3.5** Refer to Self-test problem 3.1. Rundle Ltd provides you with the following information relating to estimated expenses. **Expense Details** - **Sales representatives’ salaries:** $72,000 per annum apportioned equally each month - **Cartage outwards:** 5% of sales - **Advertising:** 3% of sales - **General salaries and wages:** $144,000 per annum apportioned equally each month - **Audit fees:** $2,400 per annum apportioned equally each month - **Payroll on-costs** (treated as an administration expense): 15% of total payroll - **Rent:** $43,200 per annum apportioned equally each month - **Depreciation:** $27,600 per annum apportioned equally each month - **Telephone:** $1,800 per annum apportioned equally each month - **Stationery:** $1,800 per annum apportioned equally each month **Interest on Loan** - January — $830 - February — $820 - March — $810 **Bank Charges** - $720 per annum apportioned equally each month.
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