Managerial Accounting and Finance Osborne Ltd Data - Accounting Assignment Help

Assignment Task

Question 
The data below is that of Osborne Ltd, a small UK manufacturing organisation

• This year
• Actual
• Last Year
• Actual
• This year
• Budget
• £ £ £
• Sales 187,500 185,000 192,500
• Cost of sales (91,875) (88,800) (96,250)
• Gross profit 95,625 96,200 96,250
• Gross profit margin: 51.00R.00P.00%
• With reference to the data provided, which ONE of the following statements is TRUE?

Task

a. The actual sales value for this year is higher than that expected for this year but less than the actual sales value for last year
b. The actual gross profit margin for this year is higher than that expected for this year but less than the actual gross profit margin achieved last year
c. The budget for this year indicated a small increase in profits compared to last year’s actual results and this target was achieved
d. The value for cost of sales (budgeted and actual) is always greater than (or equal to) 50% for the sales value 

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