Answered step by step
Verified Expert Solution
Question
1 Approved Answer
PDL Take Take- X PDF Take- X PDF Take- x PDF Take Take- X PDE Businx PDF Businx POE Busin x o PDF Take- X
PDL Take Take- X PDF Take- X PDF Take- x PDF Take Take- X PDE Businx PDF Businx POE Busin x o PDF Take- X bfix to x | b fix to x | bfix to x bfix tox to + E File C:/Users/Admin/Downloads/Take-Home%20Exam%201%20(1).pdf + To be most productive with Microsoft Edge, finish setting up your browser. Complete setup Maybe later of 9 - + | A Read aloud | Draw Erase A 20 2020 Question 7 (Marks:20) The following is the budgeted and actual information of Sodium Traders for February 2020: BUDGET ACTUAL 2020 2020 February February R R Income: Services rendered 80 000 90 000 Other income 20 000 17 000 100 000 107 000 Expenditure: 3 000 4 000 Telephone Repairs and maintenance 4 000 2 000 Stationary 1 000 900 Salaries and wages 20 000 20 000 Water and electricity 2 500 3 000 5 000 Rates and taxes 4500 Interest expense 1 500 1 800 Rank charges 500 200 37 000 63.000 37 400 696.00 Net Profit/ (Loss) Required: Q.7.1 Using the information above, prepare the variance report for Sodium Traders for February 2020. (17) CH E WL AO 4 1:50 AM 11/24/2020 PDL Take Take- X PDF Take- X PDF Take- x PDF Take Take- X PDE Businx PDF Businx POE Busin x o Take- X bfix to x | b fix to x | bfix to x bfix tox to + E File C:/Users/Admin/Downloads/Take-Home%20Exam%201%20(1).pdf + To be most productive with Microsoft Edge, finish setting up your browser. Complete setup Maybe later of 9 + A' Read aloud Draw Erase A TCCProns Repairs and maintenance 4 000 2 000 Stationary 1 000 900 Salaries and wages 20 000 20 000 Water and electricity 2 500 3 000 Rates and taxes 4 500 5 000 Interest expense 1 500 1 800 Rank charges 500 37 000 63.000 700 37 400 696.00 Net Profit/ (Loss) / Required: Q.7.1 Using the information above, prepare the variance report for Sodium Traders for February 2020. (17) (3) Q.7.2 Sodium is expecting the services rendered to increase by 3%, wages and salaries to increase by 5% and interest expense to decrease by 2% in March 2020 based on the 5 actual results for February 2020. Calculate the amounts that will be included in the budget for March 2020 for these three-line items. The Independent Institute of Education (Pty) Ltd 2020 Page 8 of 9 20 2020 E WL AO 4 1:50 AM 11/24/2020 PDL Take Take- X PDF Take- X PDF Take- x PDF Take Take- X PDE Businx PDF Businx POE Busin x o PDF Take- X bfix to x | b fix to x | bfix to x bfix tox to + E File C:/Users/Admin/Downloads/Take-Home%20Exam%201%20(1).pdf + To be most productive with Microsoft Edge, finish setting up your browser. Complete setup Maybe later of 9 - + | A Read aloud | Draw Erase A 20 2020 Question 7 (Marks:20) The following is the budgeted and actual information of Sodium Traders for February 2020: BUDGET ACTUAL 2020 2020 February February R R Income: Services rendered 80 000 90 000 Other income 20 000 17 000 100 000 107 000 Expenditure: 3 000 4 000 Telephone Repairs and maintenance 4 000 2 000 Stationary 1 000 900 Salaries and wages 20 000 20 000 Water and electricity 2 500 3 000 5 000 Rates and taxes 4500 Interest expense 1 500 1 800 Rank charges 500 200 37 000 63.000 37 400 696.00 Net Profit/ (Loss) Required: Q.7.1 Using the information above, prepare the variance report for Sodium Traders for February 2020. (17) CH E WL AO 4 1:50 AM 11/24/2020 PDL Take Take- X PDF Take- X PDF Take- x PDF Take Take- X PDE Businx PDF Businx POE Busin x o Take- X bfix to x | b fix to x | bfix to x bfix tox to + E File C:/Users/Admin/Downloads/Take-Home%20Exam%201%20(1).pdf + To be most productive with Microsoft Edge, finish setting up your browser. Complete setup Maybe later of 9 + A' Read aloud Draw Erase A TCCProns Repairs and maintenance 4 000 2 000 Stationary 1 000 900 Salaries and wages 20 000 20 000 Water and electricity 2 500 3 000 Rates and taxes 4 500 5 000 Interest expense 1 500 1 800 Rank charges 500 37 000 63.000 700 37 400 696.00 Net Profit/ (Loss) / Required: Q.7.1 Using the information above, prepare the variance report for Sodium Traders for February 2020. (17) (3) Q.7.2 Sodium is expecting the services rendered to increase by 3%, wages and salaries to increase by 5% and interest expense to decrease by 2% in March 2020 based on the 5 actual results for February 2020. Calculate the amounts that will be included in the budget for March 2020 for these three-line items. The Independent Institute of Education (Pty) Ltd 2020 Page 8 of 9 20 2020 E WL AO 4 1:50 AM 11/24/2020
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started