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  • Magic Masala Horngren Revenue Statement

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    Sanket Gupta
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    Magic Masala's financial statements show sales of Rs. 13,000,000 with a gross margin of Rs. 8,959,982 after deducting cost of goods sold of Rs. 4,040,018. Operating expenses including manufacturing overhead of Rs. 3,825,000 result in operating income of Rs. 5,134,982. After accounting for interest, taxes, and dividends, the company reports a residual surplus of Rs. 312,989.20.

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    Magic Masala horngren revenue statement

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    Magic Masala's financial statements show sales of Rs. 13,000,000 with a gross margin of Rs. 8,959,982 after deducting cost of goods sold of Rs. 4,040,018. Operating expenses including manufacturing overhead of Rs. 3,825,000 result in operating income of Rs. 5,134,982. After accounting for interest, taxes, and dividends, the company reports a residual surplus of Rs. 312,989.20.

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    © All Rights Reserved
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    8 views1 page

    Magic Masala Horngren Revenue Statement

    Uploaded by

    Sanket Gupta
    Magic Masala's financial statements show sales of Rs. 13,000,000 with a gross margin of Rs. 8,959,982 after deducting cost of goods sold of Rs. 4,040,018. Operating expenses including manufacturing overhead of Rs. 3,825,000 result in operating income of Rs. 5,134,982. After accounting for interest, taxes, and dividends, the company reports a residual surplus of Rs. 312,989.20.

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    © All Rights Reserved
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    of 1

    Magic Masala

    Sr. No. Particulars Amnt in Rs/- Sales 13,000,000 1 2 3 4 5 6 7 8


    1 Raw Material Opening 100,000 (-) COGS 4,040,018 Sales 13,000,000 Opn FG 1,500,000 DM Used 1,370,008 Opn RM 100,000
    2 Work in progress opening 200,000 GM 8,959,982.00 (-) COGS 4,040,018 (+) COGM 4,040,014 DL 3,000,000 (+) Purchases 2,500,000
    3 Finished Goods opening 1,500,000 Non Manf OH 3,825,000.00 GM 8,959,982 Goods avl for sale 5,540,018 Manf OH F 1,500,000 Mat avl fr use 2,600,008
    4 Debt Capital 10,000,000 OI 5,134,982.00 (-) Non Manf 3,825,000 (-) Cl FG 1,500,000 Manf OH V 1,300,000 (-) Cl RM 1,230,000
    5 Interest Rate 15.00% (-) Int 1,500,000.00 EBIT or OI 5,134,982 COGS 4,040,018 Man Cost Incurred 7,170,014 DM Used 1,370,008
    6 Debt Maturity in yrs 20 EBT 3,634,982.00 (+) Op W.IP 200,000
    7 Purchases (Raw Material) 2,500,000 Taxes 908,745.50 Man cost to account fr 7,370,014
    8 Direct Labour 3,000,000 EAT 2,726,236.50 (-) Cl W.I.P 3,330,000
    9 Manf OH Fixed 1,500,000 (-) Pref Dividend 960,000.00 COGM 4,040,014
    10 Manf OH Variable (Total for the yr) 1,300,000 EAFApp 1,766,236.50
    11 Raw Material Closing 1,230,000 (-) Eq Dividend 353,247.30
    12 Work in progress Closing 3,330,000 (-) CRR 1,100,000.00
    13 Finished Goods Closing 1,500,000 Res & Surplus 312,989.20
    14 Number of Units sold 1,000,000
    15 Non Manf OH Fixed 1,500,000
    16 Non Manf OH Var (Tot for the yr) 2,325,000
    17 Tax Rate 25.0%
    18 Equity Capital 20,000,000
    19 Preference Capital 12,000,000
    20 Preference Dividend rate 8.00%
    21 Equity Dividend rate 20%
    22 SPU 13.00
    23 Preference Maturity in years 20

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