CABANA PLACE Co. is a company in the technological computer industry for mobile devices (cell phones), with headquarters in Spain and Belgium. The company have a special fiscal year starting in Jun 14 of each year and ending on May 31" of the next year, because of that, here are the details and financial information. May 31, 2019 May 31, 2018 144.622 266.787 Raw materials inventory Work-in-process inventory 1.105.526 977.522 744.658 591.522 Finished goods inventory Sales Dpto. expenses 249.456 6.855.966 436.855 210.877 General and administrative Raw materials purchases Direct labor used in production Manufacturing overhead Indirect materials Total sales 978.466 199.015 10.466.528 CABANA PLACE Co. had 10.466.528 in sales for the year ended May 31*, 2019. 1. Prepare the next schedules: a Schedule of raw materials placed in production. b. Schedule of cost of goods manufactured. C. Schedule of cost of goods sold. 2. Prepare an income statement for the year ended March 31", 2019. 3. Prepare the next income statements: a. Summarize income statement (basic). b. Detailed income statement (complete). 4. Final: here are the market figures for the vehicle industry. After all the previous calculations, compare the information with the market figures and determine if the company is under / above the market percentages. a. If is under the market figures: give options to the board to identify problems and decrease the cost or increase the income. b. If is above the market figures: give options to the board to identify possible future problems (eg supply chain or pandemics) that could affects our margins and how can we solved. Market figures Market Figures as of May 2019 $8mm(change to euros based on exchange rate) 34% Sales or incomes COGS COGM 19% 45% Adm expenses Sales expenses Profits 8% 35% CABANA PLACE Co. is a company in the technological computer industry for mobile devices (cell phones), with headquarters in Spain and Belgium. The company have a special fiscal year starting in Jun 14 of each year and ending on May 31" of the next year, because of that, here are the details and financial information. May 31, 2019 May 31, 2018 144.622 266.787 Raw materials inventory Work-in-process inventory 1.105.526 977.522 744.658 591.522 Finished goods inventory Sales Dpto. expenses 249.456 6.855.966 436.855 210.877 General and administrative Raw materials purchases Direct labor used in production Manufacturing overhead Indirect materials Total sales 978.466 199.015 10.466.528 CABANA PLACE Co. had 10.466.528 in sales for the year ended May 31*, 2019. 1. Prepare the next schedules: a Schedule of raw materials placed in production. b. Schedule of cost of goods manufactured. C. Schedule of cost of goods sold. 2. Prepare an income statement for the year ended March 31", 2019. 3. Prepare the next income statements: a. Summarize income statement (basic). b. Detailed income statement (complete). 4. Final: here are the market figures for the vehicle industry. After all the previous calculations, compare the information with the market figures and determine if the company is under / above the market percentages. a. If is under the market figures: give options to the board to identify problems and decrease the cost or increase the income. b. If is above the market figures: give options to the board to identify possible future problems (eg supply chain or pandemics) that could affects our margins and how can we solved. Market figures Market Figures as of May 2019 $8mm(change to euros based on exchange rate) 34% Sales or incomes COGS COGM 19% 45% Adm expenses Sales expenses Profits 8% 35%
