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CVP income statement help me guys .this is urgent Please THIS IS URGENT.HELP Additional details: - Fine Office Company produces two products P100 and P200
CVP income statement help me guys .this is urgent Please
THIS IS URGENT.HELP
Additional details: - Fine Office Company produces two products P100 and P200 - Sales price per P100 is - Sales price per P200 is - At the end of each quarter, Fine Office Company requires ending inventory to be equal to - Each P100 unit uses - Fine office Company currently has the end of each quarter, Fine Office Company wants to have,000 sq. ft. of steel in the beginning inventory. At inventory. - Each product requires - Direct Labour costs \$ \begin{tabular}{|r|l|l} \hline 2 & machine hours and & 7 \\ \hline 19.7 & per direct labour hrs to produce. \\ \hline \end{tabular} - Fine Office Company allocates manufacturing overhead costs based on the estimated machine hours. Estimated manufacturing overhead cost for 2023 are $143,640 and are all variable. - For each quarter, it is estimated that will be credit sales. Of the credit sales, 80% pay in the quarter of the sale and 20% pay in the following quarter. Credit sales from Q4 2022 were $1,300,000 - Direct labour costs and manufacturing overhead costs are paid for in cash in the quarter they occurred. - Assume operating expenses occur evenly throughout the year and are all paid in cash. - For each quarter, the purchase and Q4 2022 were \begin{tabular}{|r|l|} \hline 70% & of material purchases are paid for in cash in the quarter of \\ \hline 30% & are paid in the following quarter. Purchases of materials from \\ \hline$1,500,000 \\ \hline \end{tabular} Fine Office Company will pay $60,000 in dividends in Q4 Currently, the cash balance in the bank is $15,000. Fine Office Company wants to maintain a minimum cash balance of $10,000 in the bank for each quarter. Budgeted sales volumes year 2024Q : \begin{tabular}{rr|r|} \hline 100 & Q1 & 9804 \\ \hline P200 & Q1 & 10488 \\ \hline \end{tabular} Budgeted sales volumes are: \begin{tabular}{|l|l|l|l|l|l|} \hline P100 & Q1 & 10260 & Q2 & 10944 & Q3 \\ \hline P200 & Q1 & 12585 & Q2 & 12585 & Q3 \\ \hline \end{tabular} Selling and Administration expenses for the budgeted year are as follows: Variable Cost: \begin{tabular}{l|r|l|} \hline Delivery costs are based on & S0.30 & per sales unit. \\ \hline Commissions are based on & 0.1 & % of sales value. \end{tabular} - Fine Office Company will purchase a new machine on 1/1/2023 worth \begin{tabular}{|r|} \hline 11764 \\ \hline 12312 \\ \hline \end{tabular} CVP Income Statement for year ended 31st December 2023 Check result with Income StatementStep by Step Solution
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