Unit 7 Reports & Returns Case Study

PixiePixie Settling In NicelyPosts: 18Registered
Can anyone advise me on a couple of sticking points with my assessment??

1) On a Consolidated Performance Report - Budget to actual comparative statement - part of the question reads "All costs other than cost of sales are considered to be fixed costs".

So when taking the data from the budget to actual performance table provided - do I use the BUDGETED figures for cost only and insert them in both the budget and actual columns (thereby ignoring the ACTUAL figures given)?? Or am I confusing myself and use the figures as they are given.

2) On my VAT return I have to make allowances for Bad Debt Relief - I know that the VAT figure goes in Box 4 with the input VAT, but do I also include the Net figure from the written-off invoice in box 7 with the net input figure?

Lastly - getting confused with my legends - how do I express 13.555 million under the legend "£000" and how would I express it 'to the nearest £000'?

Any help would be soooooo appreciated - as I am not at college at the moment so have no tutor support.

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