Accounting Question

Students Name: Hazem Saud Alzahrani
Assignment Title: Income Statement Problem
Doctor Name: Rida Jad Arrab
Student ID: 2243477
Course: Cost control
Course Code: HM 322
Due Date: Sunday, 5th May 2024
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
Sales revenue
$250,000
Cost of sales
$50,000
Labor Cost
$62,500
Operating
$87,500
Expenses
Foods
$120,000
$36,000
$30,000
$41,400
Beverages
$80,000
$13,600
$19,200
$22,800
Determine (demonstrate formulas used):
1. The percentage of sales revenue provided by each division
2. The cost of sales percentage to each division
3. The gross profit to each division
4. 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
You should have a cover page for your assignment involving the
following information: Course Name and its Code; Assignment Title;
Student Full Name; Student ID No.; Submitted to whom, Date of Submission