As3 Accuont

Learning Goal: I’m working on a accounting question and need an explanation and answer to help me learn.

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 10)

Q1. Abdelaziz Co. produces 3 types of products. (3 marks)

During the year the joint costs of processing the 3 products were $350,000.

Production and sales value information were as follows:

Sales Value

Product Units produced at Split-Off Separable Costs Selling Price

Product A 400,000 $10 per unit $6.00 per unit $40 per unit

Product B 300,000 $9 per unit $4.00 per unit $28per unit

Product C 500,000 $6 per unit $3.00 per unit $18 per unit

a. Allocate the joint costs using the physical output method.

b. Allocate the joint costs using the net realizable value method.

c. Allocate the joint costs using sales value at split-off point method.

Answer:

Q2. Fadel, Inc. allocates engineering costs on the basis of the supervisor’s time and administration costs on the basis of the number of employees.

The following data have been collected:

Support Departments Operating Departments

Engineering Administration Operating 1 Operating 2

Department costs $25,000 $15,000 $200,000 $350,000

Number of employees 15 10 300 450

Engineering supervisor’s time 30 hours 15 hours 35 hours 20 hours

Use the direct method to allocate support department costs to the different departments. (3 marks)

Answer:

Q3. Rafique Inc. makes product A and sells at selling price of SAR 45 per unit. Badr Inc. wants to buy 5,000 units at SAR 27 per unit. Rafique Inc. has a normal capacity of 101,000 units and projected sales to regular customers this year is 92,000 units. Per unit costs traceable to the product (based on normal capacity of 92,000 units) are listed below?

Direct Materials 8.1

Direct Labor ` 6.0

Variable Mfg. Overhead 6.2

Fixed mfg. overhead 4.8

Fixed administrative costs 0.8

Fixed Selling Costs 0.4

Does the quantitative analysis suggest that the company should accept the special order? (2 marks)

Answer:

Q4. XYZ Co. is preparing a budget for 2018. The budgeted selling price per unit is 60 SR, and total fixed costs for 2018 are estimated to be 1,500,000 SR. Variable costs are budgeted at 20 SR/unit.

You are working in accounting department of XYZ, prepare a flexible budget for the volume levels 120,000, 130,000, and 140,000 units.

One internship student having his training in XYZ Co requested you to explain to him the difference between static and flexible budgets and arguments of using each one of them? (2 marks)

Answer:

 

Get 20% Discount on This Paper
Pages (550 words)
Approximate price: -

Try it now!

Get 20% Discount on This Paper

We'll send you the first draft for approval by at
Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Assignment Help has assembled a team of highly skilled writers with diverse experience in the online writing circles. Our aim is to become a one stop shop for all your Academic/ online writing. Check out below our amazing service!

Essays

Essay Writing Services

At Assignment Help, we prioritize on all aspects that creates a good grade such as impeccable grammar, proper structure, zero-plagiarism, and conformance to guidelines. The principal purpose of essay writing is to present the author's evaluation concerning a singular subject about which they have made. Since Professionalism is the mother of every success, try our team of experienced writers in helping you complete your essays and other assignments.

Admissions

Admission Papers

You have been trying to join that prestigious institution you long yearned for, but the hurdle of an admission essay has become a stumbling block. We have your back, with our proven team that has gained invaluable experience over time, your chance of joining that institution is now! Just let us work on that essay.How do you write an admission essay? How do you begin the essay? For answers, try Quality Custom Writers Now!

Editing

Editing and Proofreading

Regardless of whether you're pleased with your composing abilities, it's never an impractical notion to have a second eye go through your work. The best editing services leaves no mistake untouched. We recognize the stuff needed to polish up a writing; as a component of our editing and proofreading, we'll change and refine your write up to guarantee it's amazing, and blunder free. Our group of expert editors will examine your work, giving an impeccable touch of English while ensuring your punctuation and sentence structures are top-notch.

Coursework

Technical papers

We pride ourselves in having a team of clinical writers. The stringent and rigorous vetting process ensures that only the best persons for job. We hire qualified PhD and MA writers only. We equally offer our team of writers bonuses and incentives to motivate their working spirit in terms of delivering original, unique, and informative content. They are our resources drawn from diverse fields. Therefore your technical paper is in the right hands. Every paper is assessed and only the writers with the technical know-how in that field get to work on it.

Coursework

College Essay Writing

If all along you have been looking for a trustworthy college essay service provider that provides superb academic papers at reasonable prices, then be glad that you search has ended with us. We are your best choice! Get high-quality college essay writing from our magnificent team of knowledgeable and dedicated writers right now!

Coursework

Quality Assignment/Homework Help

We give the students premium quality assignments, without alarming them with plagiarism and referencing issues. We ensure that the assignments stick to the rules given by the tutors. We are specific about the deadlines you give us. We assure you that you will get your papers well in advance, knowing that you will review and return it if there are any changes, which should be incorporated.