1

COST AND MANAGEMENT ACCOUNTING

MID TERM EXAM
Date: 2nd July, 2020
Total Marks: 100 marks Time Allowed: 3 Hours & 15 minutes
INSTRUCTIONS
 Each new question shall be started from a new page. Otherwise question will not be checked.
 Using any pen other than black shall result in cancellation of paper.
 Writing page number on top of the page is compulsory for the facilitation of marking.
Question No. 1 – 18 minutes allowed
Jazzy Limited (JL) is expected to achieve a sale of Rs. 120 million during the current year. The contribution margin is expected to be
20% whereas the margin of safety is estimated at 25%.
During the next year, the company intends to reduce its prices by 5% and plans to market its products vigorously to increase the sales
volume. Salaries constitute 40% of the total fixed costs and according to the union agreement an increment of 20% is to be given to all
staff. Other fixed costs are likely to remain constant.
Required:
(i) Compute Break even Sales for the next year?
(ii) Compute projected sales revenue for the next year in order the maintain 25% margin of safety?
(iii) Compute rate of increase in project sales volume on the basis of sales computed in part (ii) above? (10)
Question No. 2 – 21.6 minutes allowed
Amir Limited (AL) manufactures three products A, B and C. The sales director estimates that demand for these products in 2018 will
be as follows:
A B C
Units 12,000 20,000 16,000
Selling price per unit (Rs.) 135 120 105

Cost per unit: Rs. Rs. Rs.

Material cost per unit 57 36 54
Labour cost per unit
Machining (@ Rs. 6 per 24 36 12
hour)
Assembly (@ Rs.3 per hour) 9 12 6
Fixed overheads are estimated to be Rs. 600,000 and the production director informed that the capacity of existing machines is
156,000 hours per annum in year 2018. This capacity will be increased to 200,000 hours in next year (i.e., 2019) when new plant
which is currently on order will be delivered. In the meanwhile a neighboring firm has offered to manufacture any of a products on a
sub-contract basis at the following prices:
A B C
Sub-contracting cost per unit (Rs.) 114 102 70
Required.
(a) Advise the managing director to what extent the services of the sub-contractor should be utilized in order to meet the expected
demand for A, B and C. (07)
(b) Prepare a statement showing the profit you would expect if your advice is followed. (05)

Question No. 3 – 21.6 minutes allowed

Hi-Tech Ltd., is an engineering company, it uses absorption costing to calculate its monthly profit. Management has some reservatins
on the method of absorption costing and decided to use direct costing method. Being a management accountant of Hi-Tech Ltd., you
are asked to calculate monthly profit on the basis of direct costing and absorption costing. Following data has been extracted from
financial recorded of Hi-Tech Ltd:
 Normal capacity of plant is 40,000 units per month or 480,000 units a year
 Variable cost per unit are as follows
Rs.
Direct material cost per unit 6.00
Direct labour cost per unit 4.50
Variable factory overhead cost per unit 1.50
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12.00
 The sales price per unit is Rs.20. Actual production, sale and finished goods inventories in units as follows:

Opening inventory 6,000 units Units produced 38,000 units

Ending inventory 2,000 units Units sold 42,000 units

The following additional data is also available:

(i) Fixed factory overheads are Rs. 600,000 per year or Rs. 1.25 per unit at normal capacity.
(ii) Company is using of ‘units of product’ as basis for applying overheads.
(iii) Fixed administrative and selling expenses are Rs. 120,000 per year
(iv) Variable selling and administrative expenses are Rs. 8,000.
(v) Actual and applied variable overheads remain same and likewise no material or labour variance exists.
(vi) There is no work in process.
Required:
(a) Prepare income statement for the month of July using
 Direct costing method.
 Absorption costing method
(b) Reconcile the profit under two methods (16)

Question No. 4 – 18 minutes

Bruce Lee Chairs (BLC) manufactures and sells executive leather chairs. They are considering a new design of massaging chair to
launch into the competitive market in which they operate. They have carried out an investigation in the market and using a target
costing system have targeted a competitive selling price of Rs. 120 for the chair. BLC wants a margin on selling price of 20%
(ignoring any overheads).
 The frame and massage mechanism will be bought in for Rs. 51 per chair and BLC will upholster it in leather and assemble
it ready for dispatch.
 Leather costs Rs. 10 per meter and two meters are needed for a complete chair although 20% of all leather is wasted in the
upholstery process.
 The upholstery and assembly process will be subject to a learning effect as the workers get used to the new design. BLC
estimates that the first chair will take two hours to prepare but this will be subject to a learning rate (LR) of 95%. The
learning improvement will stop once 128 chairs have been made and the time for the 128th chair will be the time for all
subsequent chairs. The cost of labor is Rs. 15 per hour.
The learning formula is shown on the formula sheet and at the 95% learning rate the value of b is –0·074000581.
Required: Calculate the average cost per chair for the first 128 chairs made and identify any target cost gap that may be present at that
stage. (10)
Question No. 5 – 28.8 minutes
Faysal Builders & Marketing Company (FBMC) is pioneer of constructing light gauge steel structured buildings in Pakistan. FBMC
has been asked by a manufacturing company to build a 3,000 square meter warehouse to store its semi-finished g oods. Mr. Faysal, the
owner of the company, has asked the accountant of the company to prepare a minimum price quotation for building the warehouse. He
has compiled the following data together with relevant notes as a basis for the quotation:
N Rs.
ot
es
Direct material:
Material-A (140,000 kg at Rs. 125 per kg) N 17,500,000
-2
Material-B (120,000 kg at Rs. 160 per kg) N 19,200,000
-3
Other direct materials N 2,000,000
-4
Labour cost
Skilled (25,200 hours at Rs. 165 per hour) N 4,158,000
-5
Un-skilled (22,00 hours at Rs. 80 per hour) N 1,760,000
-6
Other costs:
Miscellaneous site charges – variable N 1,200,000
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-7
Lease cost of general purpose machinery N 1,500,000
-8
General overheads (23,6000 hours at Rs. 65 per hour) N
-9
Feasibility report, plans and drawing costs N 495,000
-
10
Total cost 49,347,000
Add: Profit (35%) 17,271,450
= Suggested minimum price of the project 66,618,450

Notes to minimum price quotation:

N-1:Mr. Faysal recently met the potential client of discuss the warehouse project. The meeting was held at a hotel that cost him Rs.
15,000.
N-2: Material-A is regular used by the company 160 tonnes of material-A is already in stock at a cost of Rs. 125 per kg. The current
replacement cost of the material is rs. 115 per kg. The company is confident that, if the Material-A is not used on this job, then it could
be used in any project in pipeline.
N-3: 120 tonnes of Material-B will also be required for this project, which will have to be purchased exclusively for this project. The
minimum order quantity from the supplier is 125 tonnes at a cost of Rs. 160 per kg. FBMC does not expect to have any other use of
the remaining Material-after the projected.
N-4: Other materials will be bought when required. This cost represents the purchase price.
N-5: Mr. Faysal is required to be on-site whilst the building work is performed. He, therefore, intends to work for 550 hours as a
skilled labour himself. The reminder skilled labour will be hired on an hourly basis. The current cost of skilled labour is Rs. 165 per
hour. If the company does not undertake the project for this client, My Faysal may either work as a skilled labour for another project at
a rate Rs.165 per hour or may spend 550 hours for repairing his own warehouse on urgent basis. He has recently received a quotation
of Rs. 130,000 for skilled labour to repair his own warehouse.
N-6: Mr. Faysal has 10 unskilled labours on contract, guaranteeing them a 40 hours week wage at Rs. 80 per hour. These unskilled
labours are currently idle for 12 weeks and can be delivered to the proposed project.
N-7: The estimated cost of hiring scaffolding and other machinery.
N-8: 2,700 machines hours will be required for this project. The machine, to be used, has already been leased for a weekly leasing
cost of Rs. 60,000 for the period of 25 weeks. It has a capacity of 40 hours per week and has a sufficient available capacity for the
project to be completed. Variable running cost of machine is Rs. 1,500 per hour.
N-9: This represents the rental cost of Mr. Faysal‘s storage yard. If he does not undertake this project, he can rent out this yard to a
competitor, who will pay him a rent of Rs. 50,000 per week for a25-week period.
N-10: The costs of feasibility report, plans and drawing that Mr. Faysal has already drawn for the project.
Mr. Faysal after reviewing the proposed quotation, is of the review that the price offered for this project is very high and need
revision.
Required:
(a) Calculate the revised minimum price that Mr. Faysal may quote for the client’s warehouse, using relevant costing principles.
Also explain each item of the revises quotation. (16)
(b) Explain any two reasons, why relevant costing method may not be a suitable approach for pricing in the long term for FBMC.
(06)
Question No. 6
The Khalid Mahmood & Company has two departments Molding and Painting and uses A single production overhead absorption rate
based on direct labour hours. It produces wireless Bluetooth mouse. The budgeted and actual data for period is given below:
Direct wages Labou Machine Factory
r hours hours overheads
Budget (Rs.) (Rs.)
Moulding 24,000 4,000 12,000 180,000
Painting 70,000 10,000 1,000 100,000
94,000 14,000 13,000 280,000

Actual
Moulding 30,000 5,000 14,000 200,000
Painting 59,500 8,500 800 95,000
89,500 13,500 14,800 295,000
During period, a batch of mouse was made which had the following costs and time:

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Direct wages Labour Machine

(Rs.) hours hours
Moulding 726 120 460
Painting 2,490 415 38
3,216 535 498
The direct material cost of the batch was Rs. 890.

Required:
(a) Calculate the cost of the batch of mouse using a single company-wide overhead absorption rate based on labor hours.
(04
Marks)
It has suggested that appropriate departmental overheads absorption rate may be more realistic.
(b) Calculate appropriate departmental overhead absorption rates. (03 Marks)
(c) Calculate the cost of batch using departmental absorption rates. (03 Marks)
Question No. 7 – 27 minutes
Assume that you have been appointed finance director of Breckhall Inc. The company is considering investing in the production of an
electronic security device, with an expected market life of five years. The previous finance director has undertaken an analysis of the
proposed project; the main features of his analysis are shown below:
Proposed Electronic Security Device Project Rs. 000
Now Year Year Year Year Year
(0) 1 2 3 4 5
Capital Investment 4,500
Cumulative investment in 300 400 500 600 700 700
Working Capital

Sales Revenue 3500 4900 5320 5740 5320

Material cost 535 750 900 1050 900
Labour cost 1070 1500 1800 2100 1800
Attributable Fixed Overhead 50 100 100 100 100
Interest payment 576 576 576 576 576
Depreciation 900 900 900 900 900
Taxable Profits 369 1074 1044 1014 1044
Taxation 129 376 365 355 365
Profit After Tax 240 698 679 659 679

All the above cash flows have been prepared in the present day terms without incorporating inflation and relevant costing principles
accurately.

You have available the following additional information.

1.) Selling prices, working capital requirements, and overhead expenses are expected to increase by 5% per year.
2.) Material cost and labour costs are expected to increase by 10% per year.
3.) Depreciation on assets is allowable for taxation purposes against profits at 25% per year on a reducing balance basis.
4.) Taxation of profits is at a rate of 35% payable one year in arrears.
5.) The non-current assets have no expected salvage value at the end of the five years.
6.) The company’s real cost of capital is estimated to be 8% per year and nominal cost of capital is 15% per year.

Required: Evaluate on the basis of NPV whether project is financially viable or not? (20)

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SOLUTIONS
Answer No. 1
(a) Breakeven Sales Revenue for next year
Revised Breakeven Sales Revenue = Total Fixed Cost for next year
C/S Ratio for next year
= Rs. 19.44
15.7895%
= Rs. 123.12 million (1 Mark)
(W1) Total Fixed cost for next year

Margin of safety = 25%

Margin of safety = Budgeted Sales – Breakeven Sale
Budgeted Sales
25% = Rs. 120 m – Breakeven Sale
Rs. 120 million
25% (Rs. 120 million) = Rs. 120 million – Breakeven sale
Breakeven sale = Rs. 90 million (1 Mark)
Note: Current fixed cost is divided in to two parts. One part comprises of 40% which includes salaries and the remaining 60%
represents other fixed costs. Only salaries are required to be increased by 20%.
Breakeven Sale = Total Fixed cost ÷ C/S Ratio
Rs. 90 million = Total Fixed cost ÷ 20%
Rs. 90 million x 20% = Total Fixed cost
Rs. 18 million = Total Fixed cost
Curren Next
t Year Year
Fixed salaries (40%) 7.2 m (Rs. 7.2 m x 1.20) 8.64 m (1 Mark)
Other fixed cost 10.8 m 10.80 m
18.0 m 19.44 m

(W2) C/S Ratio for next year

Current Next Year
(Rs.) (Rs.)
Sales 120 m (120 m x 0.95) 114 m (1 Mark)

Variable cost (B/Fig) (96) m (96) m

= Contribution 24 m 18 m
C/S Ratio 20% (18 m÷ 114 m) 15.7895% (1 Mark)
According to the question, Selling price will be reduced by 5% and variable cost will remain the same. Therefore, the effect of
reduction will directly effect the contribution and C/S Ratio. So new ratio would be 15.7895%.
(b) Projected Sales Revenue for next year at 25% Margin of safety
Margin of safety = 25%
Margin of safety = Budgeted Sales – Breakeven Sale
Budgeted Sales
25% = Budgeted Sales – Rs. 123.12 m
Budgeted Sales
= Rs. 164.16 m (2 Mark)
(c) Percentage increase in sales volume at projected Sale of Rs. 164.16 m

Percentage Increase in Sale volume = Budgeted Sale Revenue of next year – Budgeted Sale Revenue of next year (with sale price
effect)
Budgeted Sale Revenue of next year (with sale price effect)
= Rs. 164.16 million - Rs. 114 million x 100
Rs. 114 million
= 44 % (2 Marks)

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Answer No. 2:
Req. (a) – Optimal production and purchase plan
Step 1: Verification of limiting factor (i.e. Machine Hours) Marks
Demand Machine
(units) Hours
A 12,000 48,000
B 20,000 120,000
C 16,000 32,000
= Total machine hours required to meet demand 200,000
Less: Available machine hours in year 2018 (156,000)
Shortage 44,000
Note: Verification of limiting factor is options

Step 2: Contribution of per unit of limiting factor and Ranking

A B C
Sub-contracting cost per unit (Rs.) 114 102 70 1.0
Less: Variable cost
0.5
Material cost (Rs.) 57 36 54
Labour cost:
Machining (Rs.) 24 36 12 0.5
Assembly (Rs.) 9 12 6 0.5
(90) 84 72
= Contribution per unit (Rs.) 24 18 (2)
÷ Machine hours per unit ÷4 ÷6 ÷2 0.5
= Contribution per direct labour (Rs.) 6 3 (1)
hour
1.0
Ranking of production 1st 2nd Purchase
Step 3: Optimum production plan, purchase
Product Labour Production Purchase
hours Units Units
1.0
A 48,000 12,000
B 108,000 18,000 2,000 1.0
C 16,000 1.0
156,000
7.0
Req. (b) Profit Statement at optimal plan
Marks
A B C
Sales units 12,000 20,000 16,000
Sales price per unit (Rs.) 135 120 105

Rs. Rs. Rs. Total (Rs.)

Sales value 1,620,000 2,400,000 1,680,000 5,700,000 1.5
Less: Variable cost
Manufacturing cost 1,080,000 1,512,000 2,592.000 1.5
Purchase cost - 204,000 1,120,000 1,324,000 1.0

(1,080,000) (1,716,000) (1,120,000) (3,916,000)

= Contribution Margin 540,000 684,000 560,000 1,784,000
Less: Budgeted Fixed cost (600,000) 1.0
= Profit at optimal plan 1,184,000
5.0

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Answer No. 3
Income statement Marginal costing
For the month of July.
Rs. Rs. Marks
Sales Revenue 840,000 0.5
Less: Cost of sales (variable)
Finished goods at beginning (6,000 units x Rs. 12) 72,000 1.0
Production (38,000 units x Rs. 12) 456,000 1.5
Finished goods at ending (2,000 units x Rs. 12) (24,000) 2.0
(504,000)
= Gross contribution 336,000
Less: variable selling and admin expense (8,000) 1.0
= Net contribution 328,000
Less: Fixed expenses:
Fixed factory overheads (Rs. 600,000 ÷ 12 month) (50,000) 1.0
Fixed selling and admin (100,000)
= Operating profit 268,000
Income Statement – Absorption Costing
For the month of July.
Rs. Rs. Marks
Sales 840,000 0.5
Less: Cost of sales
Finished goods at beginning (6,000 units x Rs. 13.25) 79,500 1.0
Production (38,000 units x Rs. 13.25) 503,500 1.5
Finished goods at ending (2,000 units x Rs. 13.25) (26,500) (556,500) 2.0
= Gross profit 283,500
Less: selling & admin expenses 1.0
Variable (8,000) 1.0
Fixed (10,000)
= operating profit 265,500

Req (b) – Profit Reconciliation Statement

Rs. Marks
Absorption costing profit 265,500
Add: Difference in cost of opening stock (Rs. 1.25 per unit x 6,000 units) 7,500 1.5
Less: Difference in cost of Closing Stock (Rs. 1.25 per unit x 2,000 units) (2,500) 1.5
Marginal Costing Profit 268,000

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Answer No. 4:
Target Cost Gap = Current Cost (W-1) – Target Cost (W-2)
= Rs. 97 – Rs. 96
= Rs. 1 per chair (1 Marks)

W-1 Current Cost per unit Rs.

Frame and massage mechanism (Rs. 51 x 128) 6,528 (1 Mark)
Leather Cost (W-3) 3,200 (2 Mark)
Labour Cost (W-4) 2,688 (3 Mark)
= Current Total Cost 12,416
(÷) No. of Chairs 128 (1 Mark)
= Current Cost per unit 97

W-2 Target Cost per unit Rs.

Selling price per unit 120 (1 Mark)
Less: Profit (Rs. 120 x 20%) (24) (1 Mark)
= Target Cost per unit 96

(W3) Leather Cost

Calculation of Wastage % Meter
s
Leather used on complete unit of product 80 2.0
Add: Leather wastage – (B/Fig) 20 0.5
= Leather Input 100 2.5
Leather Cost = Rs. 10 per meter x 2.5 meters per chair x 128 chairs
= Rs. 3,200
(W4) Labour Cost
Cumulative Cumulative Average time Cumulative Total Labour Total labour Cost
Production per unit (y= axb) Hours (Total Labour hours x Labour
Units (x) (X x Y) Rate)
128 2 (128)-0.074000581 = 1.4 hours 128 chairs x 1.4 hours per chair Rs. 15 per hour x 179.2 hours
= Rs. 2,688

Answer No. 5
Faysal Builders & Marketing Company (FBMC)
(a) Maximum price to be quoted for construction of warehouse:
Notes Rs.”000” Marks
Direct materials:
Food and drink at meeting N1 - 0.5
Material A(140,000 kg x Rs. 115 per kg) N2 16,100 1.0
Material A(140,000 kg x Rs. 115 per kg) N3 20,000 1.0
Other materials-at purchase price N4 2,000 0.5
Direct labour
Faysal’s time N5 130 1.0
Skilled labour 24,650 hours x Rs. 165 per hour N5 4,067.25 1.0
Unskilled labour17,200 hours x Rs. 80per hour N6 1,376 1.0
Other costs:
Miscellaneous site charges-incremental 1200 0.5
Machine hours N7 4,050 1.0
General overheads N8 - 0.5
Opportunity cost of using yard N9 1,250 0.5
Feasibility reports, plans and drawing cost N10 - 0.5
Total cost 50,173.25 1.0
Markup @ 35% N11 - 0.5
Maximum price 50,173.25

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Marks
N1) The food and drink cost costs are sunk. The meeting with client has already occurred and therefore the cost not 0.5
relevant.
N2) Since the material is in regular use by Faysal builders, it is replacement cost which is in the relevant cost for it 0.5
N3) Material B is to be purchased for the contract therefore its purchase costs to be relevant. Although only 120 tons are
required for the work the minimum order quantity is 125 tons and as Faysal Builders has no other use for this 0.5
material and there is no indication that the unused 5 tons can be sold, the full cost of purchasing is the relevant.
N4) Other materials are cost at their purchase price. 0.5
N5) Faysal’s hours are charged as opportunity cost, i.e. the benefit forgone as a result of working on the contract (or
best alternative use). The best alternative use would be a saving of Rs. 130,000 by repairing his own farm house. 0.5
The reminder of the skilled labour, after deducting Ali’s hours, is charged at the incremental cost of Rs. 165 per
hour
N6) The cost of 10 unskilled laboour would have been incurred irrespective of the decision to undertake the project. The 0.5
relevant cost is therefore nil for 4,800 hours.
N7) The machine is currently being leased and it has spare capacity so it will either stand idle or to be used on this
project. The lease cost will be incurred regardless so the only relevant cost the incremental running cost of Rs. 0.5
1,500 per hour.
N8) General overheads are not relevant as they will be incurred irrespective of whether contract is taken or not. 0.5
N9) The relevant cost is best alternative use of yard. 0.5
N10) The cost of feasibility reports, plans and drawing is a sunk cost and therefore not relevant to the pricing decision. 0.5
N11) Profit is not relevant item for computation of minimum price 0.5
Req (b) – Use of minimum price
When quoting a minimum price for the current, relevant costing principles are being used. Only relevant costs i.e. those that change as
a direct result of the contract decision are included in the quoted cost. The minimum price will result in Faysal Builder making neither
a profit nor a loss. This is not a sustainable pricing policy in the longer term as it does not include a contribution to the fixed costs of
the organization. Relevant costing does not include a profit markup. This is not suitable for Faysal Builder in the longer term as the
company is planning to expand into different countries and investors will also require a return on their investment.
(6)

Answer No. 6:
Req (a) - Cost of each batch using Single FOH Absorption Rate

FOH Absorption Rate = Budgeted Overheads

Budgeted Labour Hours
= Rs. 280,000
14,000 Hours
= Rs. 20 per labour hour (1)

Cost of batch Rs.

Direct material cost 890 (0.5)
Direct labour cost 3,216 (0.5)
FOH cost (Rs. 20 per hour x 535 hours) 10,700 (1)
= Total Cost 14,806 (1)

Part (b) – Departmental FOH Absorption Rates

Departmental Overhead Absorption Rate Moulding Painting
(OAR)
Budgeted Overheads Rs. 180,000 Rs. 100,000 (1)
(÷) No. of hours 12,000 machine hours 10,000 labour hours (1)
= Departmental FOH absorption rate Rs.15 Per machine Rs. 10 per labour (1)
hour hour

Part (c) – Cost of batch using Departmental Absorption Rates

Rs.
Direct material cost 890
Direct labour cost 3,216
Moulding FOH cost (Rs. 15 per hour x 460 hours) 6,900 (1)
Painting FOH cost (Rs. 10 per hour x 415 hours) 4,150 (1)

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= Total cost 15,156 (1)

Answer No. 7 – Net Present value (NPV)

NET PRESENT VALUE

Net Present Value 0 1 2 3 4 5 6

Sales Revenue (W1) 3675 5402 6158 6977 6790
Less: Variable costs (W1) (1766) (2722) (3594) (4612) (4348)
Less: Overheads cost (W1) (52) (110) (116) (122) (128)

Less: Tax allowable Depreciation (W2) (1125) (844) (633) (475) (1423)

= Taxable Profits 732 1726 1815 1768 891

Less: Tax (Taxable profit x 35%) --- (256) (604) (635) (619) (312)

= Profit after tax 732 1470 1211 1133 272

Add back: Tax allowable Depreciation 1125 844 633 475 1423

= Operating Cash Flows after tax 1857 2314 1844 1608 1695 (312)

Initial investment in non-current assets (4500)

Working Capital changes (W – 3) (300) (120) (131) (144) (156) 851

= Net Cash Flows (Free Cash Flows) (4800) 1737 2183 1700 1452 2546 (312)
x Discount Factor @ 15% 1.00 0.870 0.756 0.658 0.572 0.497 0.432
Present Value (4800) 1511 1650 1119 831 1265 (135)

Net Present Value= $ 1,441,000

On pure financial grounds project is looking viable because it generates positive NPV of $ 1,441,000.

(W1) Sale Revenue, variable cost and overheads

1 2 3 4 5

Sales Revenue 3500 4900 5320 5740 5320

1 2 3 4
(3500 x 1.05 ) (4900 x 1.05 ) (5320 x 1.05 ) (5740 x 1.05 ) (5320 x 1.05

Sales Revenue Inflated at 5% 3675 5402 6158 6977 6790

Variable Costs
Material Cost 535 750 900 1050 900
Labour Cost 1070 1500 1800 2100 1800

= Variable cost (excluding inflation) 1605 2250 2700 3150 2700

x 1.101 x 1.102 x 1.103 x 1.104 x 1.105

Variable Cost (Material + Labour) 1766 2722 3594 4612 4348

Overheads Inflated at 5% (52) (110) (116) (122) (128)

(W 2) Tax Allowable Depreciation

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