Using the below information, prepare a profit and loss statement for July and August using the...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Using the below information, prepare a profit and loss statement for July and August using the Marginal Costing for Al Madina Sdn Bhd. Al Madina Sdn Bhd produces and sells one product only which is selling at RM100 per unit. There was zero inventory balance at the end of Jun. Other related information is as follows. Standard Cost per unit: RM • Direct material cost per unit RM16 • Direct wages cost per unit RM6 • Variable production overhead per unit RM3 Budgeted and actual cost per month: • Fixed production overhead per month RM99,000 • Fixed selling expenses per month RM14,000 • Fixed administration expenses per month RM26,000 • Variable selling expenses is 5% of sales volume Below is the number of units produced and sold per month for July and August: August 11,000 units 10,200 units Units sold Units Produced July 12,800 units 14,000 units Required: Prepare a profit and loss statement for July and August using the marginal costing for Al Madina Sdn. Bhd. Using the below information, prepare a profit and loss statement for July and August using the Marginal Costing for Al Madina Sdn Bhd. Al Madina Sdn Bhd produces and sells one product only which is selling at RM100 per unit. There was zero inventory balance at the end of Jun. Other related information is as follows. Standard Cost per unit: RM • Direct material cost per unit RM16 • Direct wages cost per unit RM6 • Variable production overhead per unit RM3 Budgeted and actual cost per month: • Fixed production overhead per month RM99,000 • Fixed selling expenses per month RM14,000 • Fixed administration expenses per month RM26,000 • Variable selling expenses is 5% of sales volume Below is the number of units produced and sold per month for July and August: August 11,000 units 10,200 units Units sold Units Produced July 12,800 units 14,000 units Required: Prepare a profit and loss statement for July and August using the marginal costing for Al Madina Sdn. Bhd.
Expert Answer:
Answer rating: 100% (QA)
Certainly Ill help you prepare the profit and loss statements for July and August using marginal cos... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these accounting questions
-
Edward Jones started the Jones Company Limited (JCL) as a sole proprietorship. It was later incor- porated; ownership is now 50 percent controlled by Mr. Jones, who is 71 years old, and 25 percent...
-
Case Analysis Critical thinking, creativity, and problem-solving are among some of the top skills needed by employers in the supply chain industry. This assignment will stretch your critical...
-
Dollar General Corporation, headquartered in Goodlettsville, Tennessee, is an aggressive competitor in the deep discount retail industry, fighting for position with other stores such as Family...
-
Serra do Mar Corporation manufactures and distributes leisure clothing. Selected transactions completed by Serra do Mar during the current fiscal year are as follows: Jan. 8 Split the common stock 3...
-
Assume that in an annual audit of Webber AG at December 31, 2019, you find the following transactions near the closing date. 1. A special machine, fabricated to order for a customer, was finished and...
-
Gonas, Inc., has sales of $9,750, costs of $5,740, depreciation expense of $1,000, and interest expense of $240. If the tax rate is 35 percent, what is the operating cash flow, or OCF?
-
B Mann has the following purchases for the month of May 19X8: Required: (a) Enter up the purchases journal for the month. (b) Post the transactions to the suppliers accounts. (c) Transfer the total...
-
Part proliferation: role for activity-based costing An article in the Wall Street Journal by Neal Templin and Joseph B. White (June 23, 1993) reported on the major changes occurring at General...
-
A single mispriced asset has a reward to risk ratio of 0.2, while the market has a reward to risk ratio of 2.5. Given the asset has a beta = 0.6, in constructing an optimal allocation between the...
-
The field is less sharply defined. There is heavier use of economics, decision sciences, and behavioral sciences. Identify the branch of accounting described in the quotation.
-
Q8) The CEO of Equifax credit reporting agency claims the average credit rating has dropped below 675 points. A study of 20 randomly selected credit scores had an average of 660 points and a standard...
-
You are an investor looking to invest in a debt security. After considerable research you narrow your choices down to two securities in two different countries with different inflation rates. The...
-
What the prominence of a brand or its level of activation in memory is knows as? Provide detail Explanation.
-
An organizations culture can be studied at three levels: artefacts, values and assumptions. Artefacts are the organizational structures that are visible to the members of the organization. Values are...
-
14- karat gold is a mixture of gold and other metals, typicallysilver and copper, with gold making up 58.3% of the mixture. If a 14-karat gold ring has a mass of 16.89 grams, what amountof gold is...
-
La Perla Cosmetics, Inc. purchased 10% of 200,000 common shares of Nevins Fashion at a total cost of US$13 per share on March 18, 2017. On June 30, Nevins Fashion declared and paid a dividend of...
-
9 (1 point) What do you need to invest today at 7% that will provide an annual scholarship of $850 at the end of each year? $8500 $17000 $16000 $10000 $11,000 $7,000
-
Q1) What is the a3 Value Q2) What is the a7 Value Q3) What is the a4 Value Q4) What is the b3 Value Q5) What is the b2 Value Q6) What is the sign of 2nd constraint? A pastry chef at a bakery wants to...
-
Jim (age 50) and Martha (age 49) are married with three dependent children. They file a joint return for 2012. Their income from salaries totals $50,000, and they received $10,000 in taxable...
-
In June of 2012, Maureen's house is vandalized during a long-term power failure after a hurricane hit the city. The president of the United States declares Maureen's city a disaster area as a result...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-4. Ivan and Irene paid the following in 2012 (all by check or can otherwise be...
-
1. What is the total if \(25 \%\) of the total is 30 ? 2. What is the total if \(45 \%\) of the total is 360 ?
-
1. Determine \(25 \%\) of 1,200 . 2. Determine \(53 \%\) of 1,588 .
-
Riley has a daily calorie intake of 2,200 calories and wants to take in \(20 \%\) of their calories as protein. How many calories of protein should be in their daily diet?
Study smarter with the SolutionInn App