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College of Administrative and Financial Sciences Assignment 1 Deadline: 27/02/2021 @ 23:59 (End of week 6) Course Name: Cost accounting Student’s Name: Course Code: ACCT 301 Student’s ID Number: Semester: 1 CRN: Academic Year: 1441/1442 H For Instructor’s Use only Instructor’s Name: Khaled Almuaqel Students’ Grade: Marks Obtained/Out of Level of Marks: High/Middle/Low Instructions – PLEASE • 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 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). • Submissions without this cover page will NOT be accepted. Page 1 of 3 Q1 Provide example of one Saudi Company and analyze two examples of organizational strategies and operating plans for this example. (1 Mark) Q2 Abdulkrim Company manufactures a product A. The company estimates the cost function for the total costs. The cost driver is number of units. The following information were collected: Month Units Total Costs 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 Compute a cost function using the high-low method. (1 Mark) Q3 Hashim Corporation sells its product for $17 per unit. Its variable cost is $10 per unit, and total fixed costs are $800. Assuming next period’s estimated sales are 300, calculate the following amounts: a. Degree of operating leverage b. Margin of safety in units c. Margin of safety in revenues (1 Mark) Q 4 Provide one numerical example for allocation of overhead of one job and analyze this example? (1 Mark) Q 5 Discuss the concept of Equivalent Units in process costing and give numerical example? (1 Mark) Page 2 of 3 Page 3 of 3
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