Introduction To Managerial Accounting And Job Order Costing

Instructions – PLEASE READ THEM CAREFULLY

  • The Two Chapters Have Been Attached To Know The Context (You Should Read It).
  • Should be Three Pages not including the references page and cover page.
  • Make your work clear and well presented, marks may be reduced for poor presentation.
  • Embed course material concepts, principles, and theories (requires supporting citations) along with at least two scholarly, peer-reviewed reference in supporting your answers.
  • Avoid plagiarism, the work should be in your own words.
  • Use APA style, All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).

 

 

 

 

 

 

 

 

 

Assignment Question(s):

Q1.  What is the difference between the product cost and period cost? Give some examples for each type

Q2.  What do you understand by utilization rate? Give an example

Q3.   The AMS Manufacturing Company uses a job costing system with machine hours as the allocation base for overhead.  The company uses normal costing to develop the overhead allocation rate.  The following data are available for the latest accounting period:

Estimated fixed factory overhead cost SAR 160,000
Estimated machine-hours 100,000
Actual fixed factory overhead cost incurred SAR 170,000
Actual machine-hours used 110,000

Jobs worked on:

Job No. Machine Hours Used
1020 12,000
1030 18,000
1040 15,000
1050 10,000

 

  1. Compute the overhead allocation rate.
  2. Determine the overhead allocated to job 1040.
  3. Determine total over or underapplied overhead at the end of the year

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