Income Statement Problem

I Want a cover page, put my name ( Anas alzahrani ) , ID number( 2239920) , subject name ( Cost control) , Doctor’s name ( Reda Gadelrab) , Name of university( King Abdulaziz University) and its logo , name of faculty (Faculty of Tourism) and its logo, i will send both of the logos to you

HM 322 Cost control

Assignment 2 Title: Income Statement Problem

1- Based on the following information:

Sales                

$875,000

Sales Allowances

$25,000

Cost of Sales

$276,250

Labor Cost

$51,000

Operating Costs

$395,250

Income Taxes

$42,500

Determine (demonstrate formulas used):

Net sales; sales allowances percentage; cost of sales percentage; gross profit; gross profit percentage; mark up percentage; operating cost percentage; operating profit; net profit; net profit percentage

2- Based on the following information:

Rooms

Foods

Beverages

Sales revenue

$250,000

$120,000

$80,000

Cost of sales

$50,000

$36,000

$13,600

Labor Cost

$62,500

$30,000

$19,200

Operating Expenses

$87,500

$41,400

$22,800

Determine (demonstrate formulas used):

The percentage of sales revenue provided by each division

The cost of sales percentage to each division

The gross profit to each division

The operating profit to each division

Instruction for the assignment:

Instruction for writing: A word file A4 pages printed and delivered Type of writing style (Times New Roman) font size (14), Line space (1.5), Portrait Layout Justified. Also, a soft copy A4 word file named A2-your ID No. and delivered to the Course Leader.

Deadline: Sunday, 28th April, 2024 during class time

Grades assigned: 10 Marks

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