IFP3017 Accounting for Business Decisions Case Study

 

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Assessment Details:-

• Topic :: Accounting
• Document Type :: Assignment help (any type)
• Subject :: Accounting
• Deadline :*: As Per Required

 

IFP3017 – Presentation Question

 

You will have 7-10 minutes MAXIMUM to present your findings. Please submit your PowerPoint slides via QMplus link by Friday 26th March 2021.

Recording of presentation deadline:

The management of a business is concerned about its inability to obtain enough fully trained labour to enable it to meet its present budget projection.

Service	Alpha	Beta	Gamma	Total
	£000	£000	£000	£000
Variable Cost:
Materials	6	4	5	15
Labour	9	6	12	27
Expenses	3	2	2	7
Fixed Cost	6	15	12	33
Total Cost	24	27	31	82
Profit	15	2	2	19
Sales Revenue	39	29	33	101

 

The amount of labour likely to be available amounts to £20,000. All of the variable labour is paid at the same hourly rate. You have been asked to prepare a statement of plans, ensuring that at least 50% of the budgeted sales revenues are achieved for each service and the balance of labour is used to produce the greatest profit.

 

Required:

• Prepare the statement, with explanations, showing the greatest profit available from the limited amount of skilled labour available, within the constraint (Hint: Remember that all labour is paid at the same rate)
• What steps could the business take in an attempt to improve profitability, in the light of the labour shortage?