Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. Gleaming Glass Pty Ltd sells fancy mirrors. The following accounting data is available for Gleaming Glass Pty Ltd for March 2018: $10,000 Actual profit

image text in transcribed

1. Gleaming Glass Pty Ltd sells fancy mirrors. The following accounting data is available for Gleaming Glass Pty Ltd for March 2018: $10,000 Actual profit before tax Budgeted contribution margin per mirror 70 Budgeted number of mirrors sold units 527 Budgeted total fixed costs $-25,296 On the basis of the information provided, calculate the budgeted profit before tax (rounded to the nearest dollar) for Gleaming Glass Pty Ltd for March 2018. 2. Sunshine Pty Ltd sells beach towels. The accountant for Sunshine Pty Ltd is currently preparing a purchases budget for the month of July 2017. The following information is relevant: Budgeted unit sales for July 2017 Expected opening inventory 1 July 2017 units 623 Expected closing inventory 31 July 2017 units 766 Purchase unit price June and July 2017 -7 units-2,488 On the basis of the information provided, calculate Sunshine Pty Ltd's total budgeted cost of purchases (rounded to the nearest whole dollar) for July 2017

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Im Just A Girl Who Loves Auditing And Coffee

Authors: Michael Happiness

1st Edition

B08HT8643K, 979-8684238604

More Books

Students also viewed these Accounting questions