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What is the method to determine / set the credit limit for
the customer ?
- 3 Answers
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Answer / manish.panchal
You can determine credit limit of customer depending upon
previous transaction you had with. Need to consider two
factors. your Payment terms and the day you received your
payment.
If you are dealing for the first time you need to check
market reputation or goodwill of customer. If possible get
MCDB ( Master of Customer's Data Base ) from marketing people.
This are the factors through which you could surely derive
limit for customer.
| Is This Answer Correct ? | 35 Yes | 3 No |
Answer / jaydee banerjee
Credit limit will be based on the customer agreed volume in
a year
| Is This Answer Correct ? | 7 Yes | 6 No |
Answer / rocky
Credit limit depends upon the previous spending pattern and salary withdrawn by an individual.In case of big firms who gives corporate cards to there employees reputation and previous defaults is the key for determining the limit.
| Is This Answer Correct ? | 1 Yes | 0 No |
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2. A budgeted profit statement of a company working at 75% capacity is provided to you 2 below, Sales 9,000 units at Rs. 32 Rs. 2,88,000 Less: Direct materials Rs. 54,000 Direct wages 72,000 Production overhead: fixed 42,000 variable 18,000 1,86,000 Gross profit 1,02,000 Less: Administration, selling and distribution costs: fixed 36,000 varying with sales volume 27,000 63,000 Net profit 39,000 You are required to: (a) Calculate the breakeven point in units and in value. (b) It has been estimated that: (i) if the selling price per unit were reduced to Rs. 28, the increased demand would utilise 90% of the company's capacity without any additional advertising expenditure, and (ii) to attract sufficient demand to utilise full capacity would require a 15% reduction in the current selling price and a Rs. 5,000 special advertising campaign. You are required to present a statement showing the effect of the two alternatives compared with the original budget and to advise management which of the three possible plans ought to be adopted, i.e., the original budget plan or (i) above or (ii) above. (c) An independent market research study shows that by spending Rs. 15,000 on a special advertising campaign, the company could operate at full capacity and maintain the selling price at Rs. 32 per unit. You are required to: (i) Advise management whether this proposal should be adopted.
Audit 
