Hi
I am final year student struggling with accounting.
I will have CA examination and I want to successed in it. I want from you, your help in doing the test. I tried my best but I couldnt. if you can help me those are the topices that will come in the test
- Cost Management issues
- Cost Volume Profit Analysis
- Budgeting and Responsibility
Cost info and pricing
The CA will open on Monday at 3pm for 3 hours ( UK time)
if you can assist me, please let me know
thank you
Regards,
susu
Bachelor of Arts in Culinary Arts DK_BCULA_7 Bachelor of Arts in Event Management DK_BEVNT_7 Bachelor of Arts in Hospitality Management DK_BHPMG_7 Stage 1-Semester 2 May 2020 ACCT B7Z09 – Fundamentals of Accounting Internal Examiner(s):Dr Kevin Burns Date: 13 May 2020 Time: 21:01 Duration: 4 hour [Please answer all questions] Question 1 The Runway Hotel has provided you with his Trial balance for the Year ended 31 Dec 2019. Dr Cr Capital 35,300 Opening Stock 3,150 Wages and Salaries 54,200 Rent 14,000 Sales 185,000 Purchases 66,000 Insurance 14,000 Gas and Electricity 9,000 Kitchen Equipment 25,000 Restaurant Furniture 18,000 Accounts Payable 5,600 Accounts Receivable 1,400 China and Cutlery 6,500 Bank Balance 14,650 225,900 225,900 1. Stock at the 31st December was valued at 2,900. You are required to: a) Prepare the Income Statement for the Runway Hotel for the year ending 31st December 2019. The Income Statement for Runaway Hotel for the year ended 31st Dec 2019 Sales 185,000 Less: Cost of Sales Opening Stock 3,150 Purchases 66,000 69,150 Less Closing Stock (2,900) Cost of Sales 66,250 Gross Profit 118,750 Expenditure: Wages 54,200 Rent 14,000 Insurance 14,000 Gas 9,000 China & Cutlery 6,500 Profit 21,050 (10 Marks) b) A statement of Financial Position of the Runway Hotel for year ending 31st December 2019. Statement of Financial as at 31st December 2019 Tangible Fixed Assets: Kitchen Equipment 25,000 Furniture 18,000 43,000 Current Assets: Stock 2,900 Accounts Receivable 1,400 Bank 14,650 Total Current Assets 18,950 Total Assets 61,950 Current Liabilities: Accounts Payable 5,600 Capital: Opening Capital 35,300 Profit for year 21,050 Total Liabilities 61,950 (10 Marks) (20 marks) Question 2 The following standard recipes have been introduced in a local restaurant. Recipe: Scones Menu Bakery Recipe by: Baker Type Total 12 portions Classification Breads/Cakes Yield Unit Ingredients Unit Cost – Per unit Required Euro 440g Plain Flour 1.75 Kg 25g Baking Powder 10.00 Kg 5g Sea Salt 2.20 Kg 80g Granulated 0.99 Kg Sugar 80g Unsalted Butter 6.61 Kg 40g Sultanas 3.98 Kg 150ml Fresh Cream 0.40 100ml 150ml Milk 0.75 Litre Egg Wash 1 Egg 0.32 Each 1 Egg yolk 0.32 Each 5g Salt 2.20 Kg Yield 12 Portions Recipe: Chocolate Brownies Menu Bakery Recipe by: Baker Type Total 20 portions Classification Breads/Cakes Yield Unit Ingredients Unit Cost – Per unit Required Euro 750 g Dark Chocolate 2.00 100g (85% Cocoa solids) 385g Unsalted Butter 7.45 Kg 315g Dark Muscovado 0.52 100g Sugar 315g Caster Sugar 2.89 Kg 10 Free -range 0.32 each Eggs 215g Plain Flour 1.75 Kg 75g Cocoa powder 1.64 100g 2.5g Fine Salt 2.20 Kg Yield 20 portions Please calculate the following: a) Calculate the cost per portion for each recipe – please show your