Cost Accounting
College of Administration and Finance Sciences Assignment (1) Deadline: Friday 14/07/2024 @ 23:59 Course Name: Cost Accounting Student’s Name: Course Code: ACCT 301 Student’s ID Number: Semester: Summer CRN: 50184 Academic Year: 1445 H For Instructor’s Use only Instructor’s Name: Habiba Moabber 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. Restricted – مقيد College of Administration and Finance Sciences Assignment Question(s): (Marks 15) Q1. Abdul Karim Company manufactures a product A. The company estimates the cost function for the total costs. The cost driver is number of units. The following information were collected: Month Units January 3,560 SAR 242,400 February 3,800 SAR 252,000 March 4,000 SAR 260,000 April 3,600 SAR 244,000 May 3,200 SAR 228,000 June 3,040 SAR 221,600 Compute a cost function using the high-low method. Total Costs (3 Marks) Answer: Q2. Hashim Corporation sells its product for SAR17 per unit. Its variable cost is SAR 10 per unit, and total fixed costs are SAR 800. Assuming next period’s estimated sales are 300, calculate the following amounts: a. Degree of operating leverage (1Mark) b. Margin of safety in units (1Mark) c. Margin of safety in revenues (1Mark) Answer Restricted – مقيد College of Administration and Finance Sciences Q3. TTL Corporation is in the manufacturer of several plastic products. TTL sells its one of the plastic product for SAR 500. The variable costs per unit are SAR 200, and the total fixed costs are SAR 510,000. Based on cost-volume profit analysis, calculate: (6 Marks) a) Contribution margin per unit and contribution margin ratio. b) Break-even point in units and sales SAR. c) Pretax profit if the company sells 2,200 units. d) Profit/loss if the company sells 1,500 units. e) Units needed to reach target pretax profit of SAR 180,000. f) Sales SAR needed to reach the target pretax profit of SAR 180,000. Answer: Q4. Which types of companies would most likely use the job costing? Provide example of one Saudi Company. How actual allocation rates and estimated allocation rates are analyzed in these compagnies? Answer: Restricted – مقيد (3 Marks)
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