# Accounting Question

Learning Goal: I’m working on a accounting project and need support to help me learn.

For Instructors Use only

 Instructors Name: Students Grade: /15 Level of Marks: High/Middle/Low

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 15)

Q.1 Compute and complete the following table as per the valuegiven in the box. (2 Marks)

 Output Total Fixed Cost Total Variable Cost Total Cost 200 300 150,000 400 20,000 500 600

 Output Total Fixed Cost Total Variable Cost Total Cost

Q2. Briefly Explain with example in your words (2 marks)

1. Job Costing

2. ABC Costing

Students answer may be different depending upon Explanation. (DONT COPY THE ANSWER FROM OTHER STUDENT)

Q.3– Global MNCs manufactures sports items. The material used in for one sports item cost \$ 45. The Global MNCs establish and rents a manufacturing factory for a monthly rent of \$ 475. (3Marks)

You are required to.

Prepare a table showing the Total Fixed Cost, Total Variable cost, Total Cost and Average Fixed Cost, Average Variable Cost, and Average Cost forthree different levels of production.

(No. of units at three different levels can be chosen by you).

Every student should choose different level. Do not copy and paste the same unit/number.

Solution. This is just a model SOLUTION. Students answer may be different depending upon their assumption.

 Level TFC TVC TC AFC AVC AC

Q. 4 The total cost of production for the last six Months for Noor Bicycles is as follows.

Use the high-low method find out.

1. Variable cost per unit,

2. Fixed cost

3. Total cost, if production in the July will be 5000 units. (3 Marks)

 Month Units Total Cost January 3,560 \$242,400 February 3,800 \$252,000 March 4,000 \$260,000 April 3,600 \$244,000 May 3,200 \$228,000 June 3,040 \$221,600