Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Accounting Basics Expert

QUESTION 1:

DVD Kiosk is a retail DVD shop. The owner would like to set up an online order form, to allow customers to select the movie they would like and which night of the week they would prefer. The categories are as follows:

New Releases:

These titles consist of: Paddington, Interstellar, Night at The Museum 3

Weekly Hire:
These titles consist of: Fast and Furious 6, Cinderella, Into The Storm

Required:

Set up a drop down list for each category of DVD listed above and a drop down list to select the day of the week for hire.

Your column headings for your drop down lists should be:

New Releases Hire Day Weekly DVDs Hire Day

QUESTION 2:

Pizza-to-go is a frozen pizza making business specialising in large pizzas for shops and cafes. The following table shows the expected number of pizzas to be sold between April and June 2015:

Month

Ham & Pineapple

Supreme

Tandoori Chicken

April

2500

1500

3000

May

5500

2500

6000

June

3500

1800

2600

The cost to produce each pizza is as follows:

Ham & Pineapple

$4.70

Supreme

$3.50

Tandoori Chicken

$7.20

The selling price is determined by applying a mark-up percentage on cost as follows:

Ham & Pineapple pizza is marked up by 80% Supreme pizza is marked up by 120% Tandoori Chicken pizza is marked up by 75%

Required:

1. Using the data above, prepare a Revenue table for pizza, for each month.

2. Using the data above, prepare a Profit Summary per month, for each pizza type.

Note: Only enter the information once as data. Both tables must be all formula driven. Use absolute referencing where appropriate.

QUESTION 3:

Caitlin's Fruit Online is an online fruit delivery service. The manager would like you to set up a LOOKUP table to summarise his monthly sales by category.

The category limits are as follows:

Category Lower Limit

Sales Category

$0-$999

Poor

$1,000-$5,499

Average

$5,500-$6,999

Good

$7,000 or more

Excellent

Sales for the year ended 30th June 2015 consisted of:

Customer Name

Amount

Jackson

$ 1,100.00

Brians

$    500.00

Swanson

$    800.00

Pullman

$ 2,500.00

Papadopolis

$ 6,500.00

Peng

$ 8,000.00

Wang

$ 1,900.00

Clifford

$ 5,900.00

Required: Using VLOOK up function, set up a LOOKUP table to classify the above sales by category as listed in the above table. Your table should be sorted in alphabetical order.

QUESTION 4:

The following employees work for Softdrinks Galore Ltd, a public company specialising in production of softdrinks and flavoured water. The employees are paid an hourly rate, based on their Job Classification level. If an employee works more than 40 hours, they will be paid the overtime rate for the additional hours.

The following table summarises the classifications and level of pay per classification:

TABLE A:

Classification Levels

Level

Hourly pay

1

$       30.00

2

$       40.00

3

$       50.00

4

$       75.00

5

$       80.00

6

$       90.00

The overtime hourly rate is $100 per hour for ALL employees, regardless of their classification level.

Softdrinks Galore Ltd has the following employees:

TABLE B:

Employee name

Classification Level

Paris Holton

5

Ricky Mortini

4

Jennifer Leepoz

6

Selina Geemak

2

Willard Smith

1

Russell Creak

2

Rafael Nooderly

4

Novak Djoker

1

Lara Bangle

3

Kath Hudson

6

The hours worked for the weekended 30th July, 2014 are as follows:

TABLE C:

Employee name

Hours worked

Novak Djoker

37

Willard Smith

39

Lara Bangle

40

Kath Hudson

52

Selina Geemak

30

Paris Holton

45

Russell Creak

45

Jennifer Leepoz

48

Ricky Mortini

52

Rafael Nooderly

44

Required:

1. Copy Table A into your worksheet. Set up a ‘range' for the data. Name the range ‘classification level'

2. Copy Table B to the same worksheet.
a. Add a third column titled ‘hourly pay'.
b. Use the VLOOKUP function to pick up the correct hourly pay rate for each employee from the ‘classification level' range set up in part 1 above.
c. Create a ‘range' for the data in these 3 columns. Name the range ‘pay rate table'. This range will be used in Question 6 below.

3. Using Table C data and keeping employee order unchanged, set up a payroll table to calculate the total payroll for each employee.
Your main payroll table should have the following headings:

Employee Name

Hours worked

Regular Hours

Overtime Hours

Hourly Pay

Base Amount

 

Overtime

Total Pay

4. Use the IF function to calculate the Regular Hours column.

5. Use a formula to calculate the Overtime hours.

6. Use the VLOOKUP function with reference to the range created in Question 3 part (c) to determine the Hourly Pay for each employee.

7. Use a formula to calculate the Base Amount for each employee.

8. Use the IF function to calculate the overtime amount per employee.

9. Use a formula to calculate the Total Pay.

10. All columns must be totalled as required.

11. Correct use of cell referencing, use of functions and formulas. Professional presentation

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M91601515
  • Price:- $60

Guranteed 36 Hours Delivery, In Price:- $60

Have any Question?


Related Questions in Accounting Basics

Question - flounder company recently signed a lease for a

Question - Flounder Company recently signed a lease for a new office building, for a lease period of 12 years. Under the lease agreement, a security deposit of $12,890 is made, with the deposit to be returned at the expi ...

Question - alpha corp had 15000 of dividends in arrears for

Question - Alpha Corp. had 15,000 of dividends in arrears for, cumulative, non-participating preferred stock as of January 1, 2018. This value of dividend in arrears was for the fiscal years 2016 & 2017. During fiscal ye ...

Question develop a company and determine what it will

Question: Develop a company and determine what it will produce and sell. The requirement for this company is that it be a high-end, special-order type of manufactured product. Complete the following in a Word document of ...

Question - watch the video then discuss the differences

Question - Watch the video then discuss the differences between variable and absorption costing. How does variable costing help a company make good management decisions? List some examples of ways in which a business wou ...

Question - the inouyes filed jointly in 2018 their agi is

Question - The Inouyes filed jointly in 2018. Their AGI is $78,000. They reported $2,000 of qualified business income and $22,000 of itemized deductions. They have two children, one of whom qualifies as their dependent a ...

Question 1why is it important to track investment property

Question: 1. Why is it important to track investment property, plant, and equipment? 2. How does the Accumulated Depreciation account play into the tracking of the value of Property, Plan, and Equipment? 3. Why is this i ...

Question - xyz ltd has a balance day of 31 december on 1

Question - XYZ Ltd has a balance day of 31 December. On 1 January 2XX3, it had an opening inventory balance of $12,000. XYZ Ltd purchased $23,000 worth of goods for resale. On 31 December 2XX3, the closing inventory bala ...

Question - during 2017 crimson inc purchased 2775000 of

Question - During 2017, Crimson Inc. purchased $2,775,000 of inventory. The cost of goods sold for 2017 was $2,635,938 and the ending inventory at December 31, 2017 was $544,688. What was the inventory turnover for 2017?

Question - on january 1 josh loaned his son seth 100000

Question - On January 1, Josh loaned his son Seth $100,000, interest-free. Seth uses the money to invest in corporate bonds paying 8% annual interest. Assume that the applicable federal rate of interest is 5%. You may al ...

Question as a small business owner in todays

Question: As a small business owner in today's economy: • What three financial reports would you use on a regular basis? • What information would you find on each statement? • What decisions might each statement help you ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As