ASSIGNMENT ON ACC 225/ ACC 326 -PUBLIC SECTOR ACCOUNTING FOR BOTH FULL TIME (ND/ HND1) AND PART TIME (PRE-HND/HND 2)

 

   PATRIOT ODUNARO BABATUNDE JIMOH (080384540008)

 

 ASSIGNMENT 3

(a)  Define Federation Accounts Allocation Committee (FAAC).

(b)  Aduramigba L.G.A has a population of 15 million citizens of which 12 million are taxable adults who will pay tax at the rate of N2,000 per adult. It also has 50,000 market stalls rented to traders at N120,000 per annum per stall.

There are 20,000 hawkers who will pay entrances fees to the market on daily basis at the rate of N250 per day. There are 28 days in a month and 12 months in a year.      

 Required:

 As a student of Management and Business Studies prepare the revenue budget of the

 local Government for the year 2019.

 

 ASSIGNMENT 4

(a)  Define Federation Accounts Allocation Committee (FAAC).

(b)  Efura L.G.A has a population of 20 million citizens of which 16 million are taxable adults who will pay tax at the rate of N2,500 per adult. It also has 75,000 market stalls rented to traders at N175,000 per annum per stall.

There are 35,000 hawkers who will pay entrances fees to the market on daily basis at the rate of N500 per day. There are 28 days in a month and 12 months in a year.

Required:

As a student of Management and Business Studies prepare the revenue budget of the local Government for the year 2019.

 

BEST OF LUCK! 

FUTURE BELONGS TO THOSE WHO PREPARE FOR IT!!-PATRIOT ODUNARO B.J

 

INSTRUCTION:

 

FOR FULL-TIME:TO BE SUBMITTED ON OR BEFORE MONDAY NOVEMBER 2, 2020 AROUND 9A.M

FOR PART-TIME:TO BE SUBMITTED ON OR BEFORE SATURDAY NOVEMBER 7, 2020 AROUND 9A.M

ASSIGNMENT ON ACC 212-COST ACCOUNTING 1 FOR PART TIME (ND AND PRE-HND)

 

   PATRIOT ODUNARO BABATUNDE JIMOH (080384540008)

 

 ASSIGNMENT

Alatise Manufacturing Company provides the following information relating its cost

    function  as given below:

    TC =  3 p³  +  15p²  - 15p  + 100

    Where P = N50   and Q = 100 units

     Required: Calculate:

     (a)  i.  Fixed Cost     ii.  Variable Cost     iii. Mixed Cost    iv. Variable Cost per unit

           v.  Average Fixed Cost    vi.  Average Cost  

     (b)  Use the information in “a” above to prove that:

            Average Fixed Cost = Average Cost   -  Variable Cost per unit

 

BEST OF LUCK! 

FUTURE BELONGS TO THOSE WHO PREPARE FOR IT!!-PATRIOT ODUNARO B.J

 

INSTRUCTION: 

FOR PART-TIME:TO BE SUBMITTED ON OR BEFORE SATURDAY OCTOBER 31, 2020 AROUND 9A.M

 

 

ILLUSTRATION ON PROCESS COSTING AND ASSIGNMENTS ON ACC 222-COST ACCOUNTING 2 FOR BOTH FULL TIME AND PART TIME

 

   PATRIOT ODUNARO BABATUNDE JIMOH (080384540008)

 

 ILLUSTRATION 1 :

(COPY IT INSIDE YOUR NOTE AND TO BE TREATED IN THE NEXT CLASS)

A product passes through two processes (P, Q) to completion. The following information

     were obtained from the company`s record.

                                                            Process P                     Process Q

                                                                N                                   N

     Material                                         130,000                       182,000

     Labour                                            104,000                         91,000

     Overhead                                       195,000                       130,000

     The input of material in Process A is 13,000kg while the outputs of the two processes are

     7,800kg and 5,200kg respectively. The scrap value of normal loss is N2 per unit. Normal

     loss is 10% of input.

     Prepared: Prepare

(i)                 Process P and Process Q Account

(ii)               Abnormal Loss/ Abnormal Gain Account

 ................................................................................................................................................

ASSIGNMENT 5

A product passes through two processes (A, B) to completion. The following information

were obtained from the company`s record.

                                                            Process A                    Process B

                                                                N                                  N

     Material                                          100,000                       140,000

     Labour                                              80,000                         70,000

     Overhead                                       150,000                       100,000

The input of material in Process A is 10,000kg while the outputs of the two processes are

6,000kg and 4,000kg respectively. The scrap value of normal loss is N2 per unit. Normal

loss is 10% of input.

Prepared: Prepare

(i)                 Process A and Process B Account

(ii)               Abnormal Loss/ Abnormal Gain Account

 

 

ASSIGNMENT 6

A product passes through two processes (X, Y) to completion. The following information

were obtained from the company`s record.

                                                            Process X                    Process Y

                                                                N                                  N

     Material                                          125,000                       175,000

     Labour                                            100,000                        87,500

     Overhead                                       187,500                       125,000

The input of material in Process A is 12,500kg while the outputs of the two processes are

 7,500kg and 5,000kg respectively. The scrap value of normal loss is N2 per unit. Normal

loss is 10% of input.

Prepared: Prepare

(i)                 Process X and Process Y Account

(ii)               Abnormal Loss/ Abnormal Gain Account

 

BEST OF LUCK! 

FUTURE BELONGS TO THOSE WHO PREPARE FOR IT!!-PATRIOT ODUNARO B.J

 

INSTRUCTION: 

FOR FULL-TIME:TO BE SUBMITTED ON OR BEFORE FRIDAY OCTOBER 3O, 2020 AROUND 12 NOON

 

FOR PART-TIME-TIME:TO BE SUBMITTED ON OR BEFORE SUNDAY NOVEMBER 1, 2020 AROUND 9AM

NOTICE: PREVIOUS ASSIGNMENTS CLICK THE LINK BELOW:

https://objunityonlineclasses.blogspot.com/2020/10/assignment-on-acc-222-cost-accounting-2.html 

 

 

ASSIGNMENT ON ACC 222-COST ACCOUNTING 2 FOR BOTH FULL TIME AND PART TIME

 

   PATRIOT ODUNARO BABATUNDE JIMOH (080384540008)

      ASSIGNMENT 2

      Batch No.X777 incurred the following costs:

      Dept. A     420 labour hours at N3.50

      Dept. B     686 labour hours at N3.00

      Factory overheads are absorbed on labour hours and the rates are N8 per

      hour for Dept. A and N5 per hour for Dept.B.

      The firm uses a cost plus system for setting prices and expected a 25% gross

      profit (sales minus total cost). Administration overheads are absorbed at

     10% selling price. Assuming that 1,000 units were produced in Batch X777.

      Calculate:

(a)     The selling price per unit

(b)    The total amount of administrative overheads

(c)     The profit per unit

      
    ASSIGNMENT 3

      Batch No. 314 incurred the following costs:

      Dept. A      750 labour hours at N3.50

      Dept. B      625 labour hours at N3.00

      Factory overheads are absorbed on labour hours and the rates are N8 per

      hour for Dept. A and N5 per hour for Dept.B.

      The firm uses a cost plus system for setting prices and expected a 25% gross

      profit (sales minus total cost). Administration overheads are absorbed at

     10% selling price. Assuming that 1,000 units were produced in Batch 314.

      Calculate:

(a)    The selling price per unit

(b)    The total amount of administrative overheads

(c)     The profit per unit

 

    ASSIGNMENT 4

 Sogbae Press Limited was asked to quote for supplying 5,000 and 25,000 booklets. The company normally expects a profit of 10% on cost.

Costs were recognized as follows:

                                                                                    N

Paper and other materials (per 1,000 copies)              30.00

Wages (per 1,000 copies)                                            20.00

 Layout cost                                                                500.00

 Fixed Overhead                                                         200.00

 Variable Overhead ( 12% of wages)

Draft a cost computation, showing minimum selling prices that might be quoted per 1,000 copies of the supplies.

 

INSTRUCTION: 

FOR FULL-TIME:TO BE SUBMITTED ON OR BEFORE MONDAY OCTOBER 19, 2020 AROUND 9A.M

 

FOR PART-TIME-TIME:TO BE SUBMITTED ON OR BEFORE SATURDAY OCTOBER 24, 2020 AROUND 9AM