My writer delivered an awesome dissertation on the Creek War, I definitely didn’t have the time to do all the research she did on my own.
X Ltd sells goods at a gross profit of 20 per cent. It includes depreciation as a part of cost of production. The following figures for the 12 month-period ending March 31, current year are given to enable you to ascertain the requirements of working capital of the company on a cash cost basis. In your working, you are required to assume that: (i) A safety margin of 15 per cent will be maintained; (ii) Cash is to be held to the extent of 50 per cent of current liabilities; (iii) There will be no work-in-progress; (iv) Tax is to be ignored; (v) Finished goods are to be valued at manufacturing costs. Stocks of raw materials and finished goods are kept at one month’s requirements. Sales at 2 month’s credit, Rs 27,00,000 Materials consumed (suppliers’ credit is for 2 months), Rs 6,75,000 Wages (paid on the last day of the month), Rs 5,40,000 Manufacturing expenses outstanding at the end of the year (cash expenses are paid one month in arrear), Rs 60,000 Total administrative expenses (paid as above), Rs 180,000 Sales promotion expenses (paid quarterly in advance), Rs 90,000
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