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Caso de estudo 1 departamental lucro e perda de instrução

  • Nota de Estudos
  • Rever Tópicos
    BabaJide Martins F.
    TR
    BabaJide Martins F.

    Can someone help with 'contribution margin' ? What does it mean?

    Alice B.
    GQ
    Alice B.

    One advantage of classifying the profit and loss statement into departments is the set backs of each department will be outlined easily and the solutions too.

    Alice B.
    GQ
    Alice B.

    One reason for retaining this department could be because of arbitrary allocation of expenses.

    Alice B.
    GQ
    Alice B.

    Four items here considered as general expenses may be: rental payment, salaries, loans and the buying of workshop equipment.

    Hermina S.
    LC
    Hermina S.

    One of the benefits of reporting more frequently is you are able to have closer control over the expenses, It is easier to limit expenses to budgeted amounts when the items can be monitored on a regular and frequent basis

    Morne V.
    ZA
    Morne V.

    In this particular problem rent has been allocated in equal amounts to sales, repairs and office. This suggests an arbitrary allocation

    Sunday O.
    NG
    Sunday O.

    Case study 1 - departmental profit and loss statement

    Odongo M.
    UG
    Odongo M.

    Accounting -> Case study 1 - departmental profit and loss statement Case study 1 - departmental profit and loss statement Welcome to Matts World. This business sells and repairs bicycles. Information Matts World sells and repairs bicycles. Workshop equipment is only involved in repairing bicycles, delivery costs are only for the sale of bicycles Matts World employs three sales staff, who spend two-thirds of their time selling bicycles and one-third repairing bicycles. Two other people work full time at repairing bicycles. There are two staff members employed in the office The business has four cost centres: sales, workshop, office and finance Each person employed by Matts World is paid $100 per day and works a five day week. The prepaid and accrued expenses must be dealt with at the beginning of the month The calendar for November is shown below. Dates shown in bold are the days on which staff are paid. Staff do not work on Monday and Tuesday as Matts World operates in a tourist area and these are quiet days. They do work on weekends Sunday Monday Tuesday Wednesday Thursday Friday Saturday 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 workshop equipment is depreciated at 12% per annum on cost interest is paid annually in December. It is $600 for the year on the Bank overdraft, $1600 for the year for the loan and $4000 for the mortgage rent is $2400 per month expense and is allocated in equal proportions to sales, workshop and office advertising is allocated 60% to sales of bicycles and 40% to repairs cash sales are 40% of total sales. Cash sales are $40 000 for the bicycles fees are $20 000 for bicycle repairs. All fees are for cash there is a mark up of 100% on all bicycles sold stock loss is $1500 bad debts are $600 at the end of November prepaid rent is $200 Other expenses include: advertising $6000 delivery costs $1800 cleaning $500 Required A departmental Profit and Loss statement In this particular problem rent has been allocated in equal amounts to sales, repairs and office. This suggests an arbitrary allocation. Do you agree that all expenses should be allocated to departments? What advantages will Matt's World gain by classifying the Profit and Loss statement into departments? What advantages will Matt's World gain by classifying the balance sheet into departments? What are the benefits of reporting more frequently? The repairs department is not performing nearly as well as the sales department. What reasons may exist for retaining this department despite what appears to be a relatively poor performance? Suggest two reasons why it may be inappropriate to allocate cleaning to floor space Define the term 'contribution margin' List four items you would consider 'general expenses' It is discovered that $200 of cleaning has been used by Matt for private use. How would you make this correction in the general journal

    Manish K.
    NP
    Manish K.

    It is essential for large scale organization for finding out profit and loss of particular section.

    Davidson Ade O.
    NG
    Davidson Ade O.

    done

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