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- ABC Company estimates that it will require 100,000 machine-hour to meet the coming period’s estimated production level in 2018. In addition, the company estimates total fixed manufacturing overhead at SR 300,000, and variable manufacturing overhead costs of SR 3 per machine -hour. (2marks)
- If your fixed monthly utility charge is SR 100, your variable cost is SR1 per kilowatt hour, and your monthly activity level is 3,000 kilowatt hours, what is the amount of your utility bill? (1.0 marks)
- Assume the following hours of maintenance work and the total maintenance costs for the following months: (1. marks)
- following information are extracted from the records of ABC company for 2018: (1marks)
ABC company produced in Feb.2018 two job orders with the following information (Amounts in SR):
|
Job no. 1 |
Job no.2 |
|
|
Direct material |
300,000 |
400,000 |
|
Direct labor |
150,000 |
200,000 |
|
Actual machine hour used by orders |
5,000 |
8,000 |
|
Units produced |
5,000 |
6,000 |
Required:
- Calculate pre-determined overhead allocation rate.
- Calculate the applied overhead to job orders.
- Calculate the total cost for each job order and cost per unit.
|
Month |
Maintenance hours |
Total cost |
|
July |
2,000 |
20,0000 |
|
Aug. |
3,000 |
25,000 |
|
Sept. |
6,000 |
40,000 |
|
Oct. |
4,000 |
30,000 |
|
Nov. |
5,000 |
35,000 |
|
Dec.. |
7,000 |
45,000 |
Required:Calculate fived costs using The High-Low Method
|
Revenues |
300,000 |
|
Variable manufacturing expenses |
100,000 |
|
Fixed manufacturing expenses |
20,000 |
|
Variable selling expenses |
15,000 |
|
Variable administrative expenses |
20,000 |
|
Fixed selling expenses |
25,000 |
|
Fixed administrative expenses |
30,000 |
Required: prepare income statement using contribution margin approach.
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