Deadline: Saturday 08/10/2022 @ 23:59
|Course Name: Cost Accounting||Student’s Name:|
|Course Code: ACCT 301||Student’s ID Number:|
|Semester: 1st||CRN: 14633|
|Academic Year: 1444 H|
For Instructor’s Use only
|Instructor’s Name: Dr. Shahid Husain|
|Students’ Grade: /15||Level of Marks: High/Middle/Low|
Instructions – PLEASE READ THEM CAREFULLY
Assignment Question(s): (Marks 15)
Q1. How does risk impact decision-making? List the types of risk that impact business decision-making and provide suitable examples for each type of risk in the context of an organization.
Note: Your answer must include suitable examples for each type of risk. (Week 2, Chapter 1)
Q2. Suppose that you are working in a company as a cost manager that is making a single product. Determine the following values of your own for this product: (3 Marks)
After determining the values for the above, find out:
Note: You are required to assume values of your own and they should not be copied from any sources. (Week 4, Chapter 3)
Q3. Critically analyze the differences between the “Account Analysis Method” and the “Two-Point Method” of estimating a cost function. Provide suitable examples for each method by assuming the values of your own. (3 Marks) (Week 3, Chapter 2)
Q4. Referring to the concept of job costing in the manufacturing sector, identify how you will record the following journal entries: (3 Marks)
Note: You must assume significant values for each transaction of your own and prepare the journal entries for each case. (Week 5, Chapter 5)
Q5. Alpa Ltd. uses a process costing system for its sole processing department. There were 24,000 units in beginning WIP inventory for March and 216,000 units were started in March. The beginning WIP units were 60% complete and the 19,500 units in ending WIP were 40% complete. All materials are added at the start of processing. (3 Mark)
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