Thursday, October 15, 2020

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

 

 

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