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2:49 .01 LTE I cdn.fbsbx.com TEloS 3 ano 10 QUESTION 2 (17 marks) Question a (11 marks) At the year-end 30 November 2019, College S had 50% of the market share in the provision of accounting tuition courses in the private sector, despite the 20% decline of the market demand, resulting to smaller class sizes Statement of Profit or Loss 2020 2020 2019 2019 SOOO $000 $0OO $0OO Turnover 100,000 80,000 Cost of sales 60,000 50,000 Gross profit 40,000 30,000 Marketing expenses 5,000 6,000 Property expenses 8,000 8,000 Staff training 3,000 4,000 Website running costs 0 3,000 Student helpline running costs 0 2,000 Enrolment costs 4,000 2,000 Total indirect costs 20,000 25,000 Net operating profit 20,000 5,000 Non-financial performance indicators 2020 2019 Students transferring from other colleges 20% 15% Students passing exams from first attempt 70% 60% Average number of employees 1,000 1,100 Late enrolments due to staff error 200 300 Labor turnover 10% 20% Student complaints 100 200 The college suffered in 2019 and during the previous years, staff retention problem affected the quality of service provided to the students. In order to seal with this issue, the college completed the following developments in 2020: a. A new training staff program . A new student helpline on a 24/7 basis An interactive website providing instant student support. d An online student enrolment system An electronic marking system reducing the marking costs by $3 million in 2020 which are included in cost of sales. On 1 December 2019, the College reduced the fees of full-time lecturers (part time lecturers' fees decreased by 10%) and employees would not receive salary increase for one year. Total lecture staff costs were $20 million in 2019 included in cost of sales. Cost of part time lecturers represent 20% of total lecture staff costs. In 2020 part time lecturers' fees were $5 million. Course prices remained the same and the mix of students remained unchanged. Same type and number of courses run in 2019 and 2020 and the percentage of courses taught by part-time lecturers did not change. Required Assess the performance of the business in 2020 with reference to the following: Turnover ii. Cost of sales iii. Gross profit iv. Marketing costs v. Property costs vi. Staff training vii. Website vili. Student helpline ix. Enrolment costs x. Net operating profit xi. Indirect to direct cots Question b What actions should a company do in order to improve its performance based on the variance analysis conducted? (2 marks) Question c What type of information is required for each of the three levels of planning of a company? (2 marks) Question d Describe the advantages and disadvantages of internal and external information (2 marks)
