You are required to develop a computer-based income and balance statement.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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You are working as a non-financial manager in the Production Unit of company DEE. Company DEE manufactures plastic cutlery out of raw material, and sells to wholesalers across SA. The budget is:

Description: Amount:

Budget Sales    R650.000

Less, direct cost:                                                                        

Cost of materials          R210.000

Direct labour                 R165.000

Indirect costs                 R105.000

Other general overheads        R50.000

Net Budget Profit:                   R120.000

You are required to develop a computer-based income and balance statement. The income and balance sheet must have the necessary notes and disclosures. Adjust the figures in terms of the following: Income out of direct sales - R800 000.00; Income out of after-sales, customer services - R150 000.00; Owners Equity - R250 000.00

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