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ACCT 301 A1 Costs Accounting Worksheet

ACCT 301 A1 Costs Accounting Worksheet

ACCT 301 A1 Costs Accounting Worksheet

Q1 Provide example of one Saudi Company and analyze the steps that the managers in this company can take to achieve its vision and use core competencies. (1 Mark)

Answer:

Q2 The following data were obtained from the accounting information system of Attawfik Corporation:

UnitsTotal Cost

MonthProduced

January60SAR1,533.4

February501,300

March802,000

April30833.5

a.Use the data for February and March and the two – point method to determine a cost function.

b.Use the high – low method to determine a cost function.

C. How do you think that a cost function may provide poor estimates of future costs?

(1 Mark)

Answer

Q3 a. Analyze the following Graph and the breakeven point and discuss how this analysis is used for decision making?

 

  • If fixed costs are $400,000, selling price per unit is $150, and variable cost per unit is $100, how many units must the company sell in order to earn a profit of $ 100,000?

(1 Mark)

 

Answer

Q 4 Which types of companies would most likely use a process costing system and which types of companies would use job costing? Provide examples of two Saudi Companies.

Explain the methods with which the cost per unit will be calculated for each type of company using numerical example.

(2 Marks)

 

Answer

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