Multi Cakes Sdn Bhd is involved in selling cakes. You are required to classify the following costs according to their behavior.
|No.||Cost items||Fixed cost||Variable costs||Semi-variable costs|
||Salary of baker|
||Salary of cashier|
||Depreciation of machine|
- Fill the missing amount in each of the following accounting equations.
- Below is the transaction in relation to Cempaka Rias Enterprise (CRE) for January 2021
|Eg:||Paid stationeries by cheque||Increase expenses
|1.||Owner brought in cash into the business|
|2.||Owner brought in furniture into the business|
|3.||Purchased goods on credit from Sweety Enterprise|
|4.||Received a loan from ABC Bank|
|5.||Paid employees’ wages by cheque|
a) Identify the effects (increase/decrease) of the above transactions on assets, liabilities, owner’s equity, revenues and expenses. (5 marks)
b) Identify the double entry for the above transactions (5 marks) (Total: 18 marks)
Walla manufactured Sdn Bhd is a car manufacturer that produce side mirror with a sales price of RM350 and a variable cost of RM150. Fixed costs are RM250,000 per annum with total unit sold was 1,400 units. You are required to calculate the following:
A. Contribution / Sales ratio.
B. Number of units to break-even.
C. Sales (RM) at break-even point.
D. Number of units to be sold to achieve a profit of RM150,000 per annum
E. Based on B above, find the margin of safety in units.
Rahul Sign, the owner of Wood Factory Expert (WFE) has the following accounts balance on 31 December 2021.
|Inventory, as at 1 January 2021||300,000|
|Cash in hand||15,000|
|Cash in bank||40,000|
|Wages and salaries||100,000|
|Long term investments||600,000|
- The closing inventory was valued at RM240,000
- Prepare a Statement of Profit and Loss for the year ended 31 December 2021 (10 marks)
- Prepare a Statement of Financial Position as at 31 December 2021 (5 marks)
Answers to Above Questions on Business Accounting
Answer 1: The classification of cost according to their behaviour is performed as follows:
Get completed answers on above questions from the accounting assignment helper in Malaysia as offered by Student Life Saviour experts in Malaysia.
Content Removal Request
If you believe that the content above belongs to you, and you don’t want it to be published anymore, then request for its removal by filling the details below. It will only be removed if you can provide sufficient evidence of its ownership.