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Income Statement

The income statement for Cupcake's Place for January 2020 shows: Net sales of ₱179,100 and cost of goods sold of ₱72,888, resulting in a gross margin of ₱106,212. Total operating expenses were ₱26,908 including salaries, rent, utilities and depreciation of equipment. This led to a net income of ₱79,271.67 for the month.

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2K views2 pages

Income Statement

The income statement for Cupcake's Place for January 2020 shows: Net sales of ₱179,100 and cost of goods sold of ₱72,888, resulting in a gross margin of ₱106,212. Total operating expenses were ₱26,908 including salaries, rent, utilities and depreciation of equipment. This led to a net income of ₱79,271.67 for the month.

Uploaded by

カイ みゆき
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Cupcake’s Place

Income Statement
For the Month ended January 21, 2020
Net Sales ₱179, 100
Less: Cos of Goods Sold ₱72, 888
Gross Margin ₱106, 212
Less: Operating Expenses:
Salaries Expense ₱20, 000
Rent Expense ₱6, 000
Utilities Expense ₱700
Depreciation Expense (Oven) ₱208.33
Total Operating Expenses ₱26, 908.33

Net Income ₱79, 271.67

List Of supplies Price per pack/piece Price of Monthly supplies


All Purpose Flour ₱82/Kg ₱4, 100 (50 kg)
Unsweetened Natural Cocoa ₱140/kg ₱7, 000 (50kg)
Powder
Baking Powder ₱55/pack ₱275 (5 packs)
Baking Soda ₱24/pack ₱120 (5 packs)
Salt ₱40/kg ₱200 (5 kg)
Large Eggs ₱6/pc ₱900 (150 pcs)
Granulated Sugar ₱244/kg ₱1 220 (5 kg)
Pack light brown Sugar ₱47/kg ₱94 (2 kg)
Vegetable oil/ Canola Oil ₱128/kg ₱640 (5 kg)
Buttermilk ₱160/kg ₱16, 000 (100 kg)
Frosting ₱262/pack ₱10, 480 (40 packs)
Sprinkles ₱100/pack ₱200 (2 packs)
Vanilla Extract ₱25/bottle ₱125 (5 bottles)

Cupcake Box ₱15/pc ₱13, 500 (900 pcs)


Cupcake Liners ₱109 (100 pcs) ₱5, 886 (5 400 pcs)

Total ₱1 437 ₱60 740 (Direct Material)

List of Kitchen Utensils and Appliances Price


Baking Oven ₱12,500
Muffin Pan ₱110
Measuring Cup and Spoon ₱124
Mixer ₱467

Total ₱13, 201

Computations

Cost of Goods Sold

Direct Materials = ₱60 740

Direct Labor = ₱6, 074 (10% of Direct Material)

Overhead = ₱6, 074 (10% of Direct Material)

Cost of Goods Sold = ₱72, 888

Depreciation Expense (Oven)

𝐴𝑚𝑜𝑢𝑛𝑡
Formula: = Depreciation per year
𝑁𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑦𝑒𝑎𝑟𝑠

𝐷𝑒𝑝𝑟𝑒𝑐𝑖𝑡𝑎𝑖𝑜𝑛 𝑎𝑚𝑜𝑢𝑛𝑡 𝑝𝑒𝑟 𝑦𝑒𝑎𝑟


= Depreciation per month
12 𝑚𝑜𝑛𝑡ℎ𝑠
₱12,500
Solution:
5 𝑦𝑒𝑎𝑟𝑠
= ₱2, 500

₱2,500
= ₱208.33
12 𝑚𝑜𝑛𝑡ℎ𝑠

Depreciation Expense = ₱208.33 per month

Net Sales

30 units * 30 days = 900 units

900 units * ₱199/per unit = ₱179, 100 (Net sales)

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