Overview
the answer will go through SafeAssign blackboard (no chat gbt )
All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
All number in Saudi riyal
Assignment Questions:Marks 15)
- In August 2024, Ahmed Co. incurred total cost of SAR 29,000 and made 3,100 units. In November 2024, it produced 1,600 units with a total cost of SAR 20,000. (Mark1 x 5)
- ABC Company Ltd. has provided the following information for the year ended December 31, 2023.(Mark 1 X 5)
- Suppose budgeted overhead was SAR 120,000 fixed overhead plus variable overhead of SAR 12/DL hour. Expected DL hours were 60,000, so that the estimated overhead rate was SAR 14/DL hour. Actual DL hours totaled 50,000 for the year and actual overhead was SAR 740,000. At the end of the year, Work in Progress, Finished Goods & Cost of Goods Sold had the account balances shown below.
Requirement:
- Find Per Unit Variable Cost
- Find Total Variable Cost in the Month of August
- Find Total Variable Cost in the Month of November
- Find Total Fixed Cost
- Determined Cost Function
SAR
Total Sales Revenue2,880,000
Total Variable Cost 1,080,000
Total Fixed Cost1,500,000
Units Produced and Sold 3,600
Determine the following from the above information:
- Contribution Per Unit
- Contribution Margin Ratio
- Break Even Point in units
- Break Even Point in Sales
- Margin of Safety in Sales
Work in Progress | SAR150,000 |
Finished Goods | 250,000 |
Cost of Goods Sold | 1,600,000 |
2,000,000 |
Requirement:(1+2+2 Marks)
- Prepare Overhead Cost Control Account
- Assuming Misallocated Overhead as material, determine the ratio of the three accounts to close overhead cost control account
- Prepare a Journal Entry to Close Overhead Cost Control Account
Answer -1
Answer - 2
Answer -3