Learning Goal: I’m working on a accounting project and need support to help me learn.
For Instructors Use only
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Instructors Name: |
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Students Grade: /15 |
Level of Marks: High/Middle/Low |
Instructions PLEASE READ THEM CAREFULLY
The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
Assignments submitted through email will not be accepted.
Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
Students must mention question number clearly in their answer.
Late submission will NOT be accepted.
Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
All answers must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism.
Submissions without this cover page will NOT be accepted.
Assignment Question(s):(Marks 15)
Q.1 Compute and complete the following table as per the valuegiven in the box. (2 Marks)
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Output |
Total Fixed Cost |
Total Variable Cost |
Total Cost |
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200 |
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300 |
150,000 |
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400 |
20,000 |
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500 |
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600 |
Answer:
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Output |
Total Fixed Cost |
Total Variable Cost |
Total Cost |
Q2. Briefly Explain with example in your words (2 marks)
1. Job Costing
2. ABC Costing
Answer:
Students answer may be different depending upon Explanation. (DONT COPY THE ANSWER FROM OTHER STUDENT)
Q.3– Global MNCs manufactures sports items. The material used in for one sports item cost $ 45. The Global MNCs establish and rents a manufacturing factory for a monthly rent of $ 475. (3Marks)
You are required to.
Prepare a table showing the Total Fixed Cost, Total Variable cost, Total Cost and Average Fixed Cost, Average Variable Cost, and Average Cost forthree different levels of production.
(No. of units at three different levels can be chosen by you).
Every student should choose different level. Do not copy and paste the same unit/number.
Solution. This is just a model SOLUTION. Students answer may be different depending upon their assumption.
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Level |
TFC |
TVC |
TC |
AFC |
AVC |
AC |
Q. 4 –The total cost of production for the last six Months for Noor Bicycles is as follows.
Use the high-low method find out.
1. Variable cost per unit,
2. Fixed cost
3. Total cost, if production in the July will be 5000 units. (3 Marks)
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Month |
Units |
Total Cost |
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January |
3,560 |
$242,400 |
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February |
3,800 |
$252,000 |
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March |
4,000 |
$260,000 |
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April |
3,600 |
$244,000 |
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May |
3,200 |
$228,000 |
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June |
3,040 |
$221,600 |
Answer:
Q. 5 A few costs and measures of activity are listed below. (5 marks)
Required:
Fill the correct cost in the column mentioned below as per information which indicates whether the cost is Direct / Indirect /Fixed or Variable with respect to the possible measure of activity listed below.
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Cost Description |
Possible measure of activity / cost object |
Fixed or Variable cost / Direct / or Indirect cost |
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Cost of direct material used to make tables and chairs in the office |
Units produced |
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Cost of COVID vaccine produced in the KSA |
Vaccine production |
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Cement/ steel /sand/ other material use to build a house/office |
Office or home |
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Electricity cost for lulu hypermarket for selling products or production /producer |
Selling product to the people |
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Deprecation cost for lulu hypermarket on all kinds of fixed assets or any constructions |
A particular location or hypermarket |
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Buying a photocopier for the production unit |
For the office use |
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Paying any kind of incentive or commission for salesperson in MNCs |
Paying in SR or $ |
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Paying salary to the driver at home for working on the monthly basis |
Working for whole family |
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Internet and water bills paid for the warehouse on the accrual basis |
Monthly accrual payment |
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Drivers salary paid for the finished goods |
Transporting to the market for the sale |
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