Question
Cam industries has just opened a manufacturing plant, in the Smithfield-Wetherill Park industrial area. Cam industries requires you to analyse ABS and their financial data,
Cam industries has just opened a manufacturing plant, in the Smithfield-Wetherill Park industrial area. Cam industries requires you to analyse ABS and their financial data, to assist them with budgeting and other business data. The relevant Australian Bureau of Statistics (ABS) data can be found on the website: https://dbr.abs.gov.au/ Note: part of this task requires you to find the relevant data from the ABS website. Cam industries is a company that makes and sells security camera systems for other businesses. They have provided the following information for you: Expenses [excluding GST] Sales staff: 2 positions, $55,000 annual salary each [including superannuation]. Admin' staff: 1 manager [$95,000], 1 bookkeeper [$65,000], 1 receptionist [$40,000], all salaries given are annual and include superannuation. Rent: $15,000 per month. Other operating costs: $4500 per month. Assets [excluding GST] Office furniture: Cost $15,000; useful life 8 years; depreciation method prime cost; installed on 1 July 2021. Factory equipment: Cost $375,000; useful life 8 years; depreciation method prime cost; installed ready for use 31 July 2021. Computers: Cost $20,000; useful life 4 years; depreciation method diminishing value; installed ready for use 15 July 2021. Your task is as follows: Part 1 - Costs i. Cam Industries want to ensure they are paying their sales staff above the mean salary for the Smithfield-Wetherill Park area. Are they doing this? Show the mean income from 2015- 2018 graphically and the range of the mean income over that time to support your answer ii. Cam Industries is interested in the business growth in the area. Determine if the number of employing businesses with 5-19 employees is increasing or decreasing over the last 5 years in the Smithfield-Wetherill park area (use the 'at June 30' data on the ABS website). Compare this to the number of retail trade jobs over the same time period. Show this data on the same graph and comment on any trend. Is the area growing? Is the retail sector growing? iii. Show a breakdown of yearly expenses on a suitable graph. Cam industries has asked for what percentage the salaries contribute to the total expenses. iv. Calculate a depreciation schedule for each of the depreciating assets. How much can Cam industries claim in depreciation for the close of the 2021-22 financial year?
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