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The following figures have been extracted from the final accounts of Born2Run plc, a retailer in the sportswear industry, for the year ended 31/12/2017.
(2018)
(a) Prepare the published profit and loss account for the year ended 31/12/2017 and a balance sheet as at that date in accordance with the Companies Acts and appropriate accounting standards showing the following notes: 1. Accounting policy note for tangi
(a) Journalise the necessary corrections. (b) Show the suspense account. (c) Prepare a statement showing the corrected net profit. (d) Prepare a corrected balance sheet. (e) Outline the purpose of a suspense account.
(i) Calculate the variable and fixed overhead absorption rates for each department in direct labour hours. (ii) Calculate the administration overhead absorption rate in direct labour hours. (iii) Calculate the selling price of the job if the profit is set
(a) Required: (i) Separate production overheads into fixed and variable elements. (ii) Separate other overhead costs into fixed and variable elements. (iii) Prepare a flexible budget for 95% activity level using marginal costing principles, and show the c
