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  • Comedero RL Prelim Assignment 2

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    The document is a profit and loss statement for a current month and year-to-date with budget comparisons. Revenues are below budget targets due to lower than planned fees billed and reimbursable expenses. Direct expenses are also below budget due to lower than planned direct labor costs. Indirect expenses are slightly below budget. The net profit is lower than the budgeted amount due to revenues and expenses being under budget projections.

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    Comedero Rl Prelim Assignment 2

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    The document is a profit and loss statement for a current month and year-to-date with budget comparisons. Revenues are below budget targets due to lower than planned fees billed and reimbursable expenses. Direct expenses are also below budget due to lower than planned direct labor costs. Indirect expenses are slightly below budget. The net profit is lower than the budgeted amount due to revenues and expenses being under budget projections.

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    11 views1 page

    Comedero RL Prelim Assignment 2

    Uploaded by

    qrlmcomedero
    The document is a profit and loss statement for a current month and year-to-date with budget comparisons. Revenues are below budget targets due to lower than planned fees billed and reimbursable expenses. Direct expenses are also below budget due to lower than planned direct labor costs. Indirect expenses are slightly below budget. The net profit is lower than the budgeted amount due to revenues and expenses being under budget projections.

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    © All Rights Reserved
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    of 1

    Assignment # 2 PRELIM

    AR 542 – ARCH52S3
    COMEDERO, RACHELLE LUZ M.
    Profit-Loss Statement Current Year-to-
    Budget
    Revenue Month Date
    Fees billed (excl. markup) 93,599 1,422,220 1,113,654
    Reimbursable Billed (incl. markup) 13,248 201,309 164,981
    Miscellaneous Revenue 613 7,465 0
    Direct Expenses
    Direct Labor Salary Expense 557 135,529 174,176
    Direct Labor Benefits 7,950 96,760 95,000
    Direct Labor Professional/Technical Staff 9,995 125,022 126,834
    Direct Labor Admin Staff 724 9,988 10,920
    Total Salary Expense 2,100 28,000 30,000
    Total Direct Expenses 20,826 295,299 336,930
    Indirect Expenses
    Advertising/Labor Risk Insurance 7,590 93,240 95,000
    Admin (excl. Accrued Bonus) 2,740 31,623 29,811
    Office Lease 3,325 39,900 39,900
    Office Expense 2,120 26,495 30,000
    Professional Business Consultants 1,000 10,891 12,736
    Local Property/Franchise Tax 0 9,940 9,940
    Depreciation/Amortization 6,372 7,987 7,987
    Marketing/Business Development 974 19,679 21,524
    Total Indirect Expenses 24,121 237,755 257,898
    Gross Profit 83,339 947,346 1,075,251
    Operating Expenses
    Administrative Accrued Bonus 250 3,000 4,000
    Temporary Accrued Bonus 0 0 0
    Principal: Paid Bonus & Draws 150,000 (110,000) (140,000)
    Professional/Technical: Paid Bonus 9,500 (15,000) (20,000)
    Administrative Paid Bonus (1,500) 13,000 10,481
    Temporary: Paid Bonus (500) 0 0
    Provision for Income Tax*** 0 (1,054) (1,525)
    Current Earnings (G-H) 5,975 8,650 10,455
    Total Operating Expenses 164,725 (94,394) (114,446)
    Net Profit/Loss Before Tax -81,386 852,952 960,805

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