ACCT 322 Saudi Electronic University Accounting Worksheet

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Assignment 1
Requirement: READ THEM CAREFULLY
• No plagiarism, the work should be unique.
• Use Times New Roman (size 12, double-spaced) font.
• Min 5 references.
Assignment Question(s): Marks 10
Q.1 .Complete the following table.
Output
Total Fixed Cost
( 2 Marks )
Total Variable Cost
Total Cost
100
150
200
75,000
10,000
250
300
Answer…
Q.2 Discuss the differences between the Job order costing and Process costing? (2 Marks)
Answer…
Q3 Abdulkrim Company manufactures a product A. The company estimates the cost
function for the total costs. The cost driver is number of units. The following informations
were collected:
Month
January
February
March
April
May
June
Units
3,560
3,800
4,000
3,600
3,200
3,040
Compute a cost function using the high-low method.
Total Costs
$242,400
$252,000
$260,000
$244,000
$228,000
$221,600
(2 Mark)
Answer…
:
Q4 Whether a company uses process costing or job-order costing depends on its industry.
A number of companies in different industries are listed below: ( 2 Marks)
1. Dairy farm
2. Custom boat builder
3. Food caterer that supplies food for wedding and other special events
4. Advertising agency
5. Coal mining company
6. Cattle feedlot that fattens cattle prior to slaughter
Required: For each company, indicate whether the company is most likely to use job-order
costing or process costing.
Answer…
Q.5 S Corporation uses the following activity rates from its activity-based costing system to
assign overhead costs to products.
(2 Marks)
Data concerning two products appear below:
How much overhead cost would be assigned to each of the two products using the
company’s activity-based costing system?
Answer…

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Explanation & Answer:
4 pages

Tags:
business

accounting

finance

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