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ACCT 301 Saudi Electronic University Cost Accounting Worksheet

ACCT 301 Saudi Electronic University Cost Accounting Worksheet

ACCT 301 Saudi Electronic University Cost Accounting Worksheet

Description

Assignment Question(s):

Q1. What information is relevant for decision-making? Differentiate between relevant and irrelevant information for decision-making. Support your answer by explaining the information in the context of an organization.

Note: Your answer must include suitable examples of relevant and irrelevant information for decision-making. (Week 2, Chapter 1)

Answer:

  • Q2. A&D Ltd. is in the manufacturing of wooden products and makes several wooden items. The following values are related to a particular wooden item:
  •   

Particulars

   

  • Selling price per unit

SAR  1,100

 

Variable cost per unit

SAR  400

 

Total fixed costs

SAR  500,000

 

Estimated next yearàbudgeted sales

1,200 units

You are required to calculate:

BEP in units and BEP in sales SAR

Degree of operating leverage

Margin of safety in units

Margin of safety in SAR (Week 4, Chapter 3)

Answer:

Q3. The information below was derived from the 2018 records of HCS Company:

  

Month

Units Produced

Total Cost (SAR)

 

May

4,350

44,200

 

June

4,700

44,700

 

July

5,000

45,000

 

August

5,400

45,400

 

September

5,650

47,500

 

October

5,900

57,150

 

November

3,450

40,000

 

December

4,100

40,600

Using the high-low method of analysis, calculate 

Variable cost

  • Fixed cost, and 
  • Determine a cost function. (Week 3, Chapter 2)
  • Answer:
  • Q4. The following transactions are related to a particular job. You are required to make the necessary journal entries.

The materials storeroom receives a shipment of direct and indirect materials that cost SAR 50,000.

Materials are sent to the stamping and assembly areas. The cost of the direct materials is SAR 5,600 and the cost of the indirect materials is SAR 3,200.

Wages totaling SAR 7,000 are accrued; 60% of these costs are direct labor and 40% are indirect labor.

Overhead costs are allocated to work in process using an allocation rate of 250% of direct labor costs.

Job no. 25, with a total cost of SAR 8,500 is completed. 

Job no. 25 is shipped to the customer, who is billed for SAR 15,000. 

(Week 5, Chapter 5)

Answer:

Explanation & Answer:

4 Questions

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