Castle is a tradition of modernity. It is a delightful haven for foodies who want to enjoy a variety of cuisines starting

from the desi barbeque to their very own Charcoal Karahi and Chinese. They were bringing pure Muqaddam Beef

to Karachi served in our symbolic taste. At Castle, they offer you a spectacular ambiance worth your money, with

two separate dinning's, areas -One at the rooftop and one indoors among their intricate dcor. They buy quality,

they produce quality, they serve quality.

The key factors communicated by the company are

It has 50 employees.

Rooftop populates 10 waiters whereas indoors 10 waiters.

2 Chefs and 8 support or cooking staff who are helping chefs

Other Staff members are 20 people. These people involve in administrative activities.

Fixed cost for year Rs. 300,000

Additional Information

Direct material for Rs. 200,000

Each Chef salary per month is Rs. 50,000

Each cooking staff salary per month is Rs. 25,000

Each other staff salary per month Rs. 35,000

Kitchen Equipment for Rs.500,000

Deprecation of Kitchen Equipment 10% of cost

Factory Overheads Rs. 100,000

Rent expense of Restaurant for Rs. 200,000 per month

Monthly revenue earned 2.0 million

Required

You are the Management Accountant of "Castle". Recent situation of the whole world facing challenges due to

COVID-19. The castle wants to reopen the restaurant or its business operations accordingly.

a) You have to prepare the statement of COGM based on given data.

b) You have to prepare revised COGM statement which you suggest what would company

change the cost allocation and which cost can be avoid and what cost will be added.

c) You have to prepare the statement of comprehensive income.

d) You have to prepare revised statement of comprehensive income and what will be changed

due to COGM.

e) Comments on how castle maintains the financial performance what and why things need to

change for inflating the bottom line.