Question Description

Use MS WORD or EXCEL or both

Question #1 (20 marks)

E2-43B

E2-44B

Question # 2 (20 marks)

Indirect labour(IDL)$10,600$11,500

Indirect materials (IDM) 4,400 5,000

Total (MOH)$15,000$16,500

DL(direct labour)$12,000$15,000

MOH = a + b*DL cost

Required:

Determine parameters a and b. (6 marks)

If DL cost is$13,200, how much would be allowed for IDL and IDM, individually?

Hint: Find the linear relationship between MOH and IDM (14 marks)

That is estimate MOH = c + d*IDM

Question #3 (40 marks)

Year 1Year 2

Units produced1,0001,000

Units sold 7001,300

Total sales$7,000$13,000

Total costs

Production:

Variable$2,000$2,000

Fixed 1,800 1,800

Selling and administration:

Variable$ 700$1,300

Fixed 2,800 2,800

(For Year 1)

Required:

Prepare income statement using variable costing. (8 marks)

Prepare income statement using absorption costing (8 marks)

Reconcile the differences in income. (4 marks)

(For Year 2)

Required:

Prepare income statement using variable costing. (8 marks)

Prepare income statement using absorption costing (8 marks)

Reconcile the differences in income. (4 marks)

Question #4 (20 marks)

ACCT 2242 Summer#1 2019

                ASSIGNMENT # 1             DUE       May 16, 2019

Use MS WORD or EXCEL or both

Question #1 (20 marks)

  • E2-43B
  • E2-44B

Question # 2 (20 marks)

Indirect labour(IDL)                                                    $10,600                       $11,500

Indirect materials (IDM)                                                 4,400                            5,000

Total    (MOH)                                                             $15,000                       $16,500

DL(direct labour)                                                         $12,000                       $15,000

MOH  =   a   +    b*DL cost

Required:

Determine parameters  a     and      b.   (6 marks)

If DL cost is$13,200, how much would be allowed for IDL and IDM, individually?

Hint: Find the linear relationship between MOH and IDM (14 marks)

That is estimate MOH = c + d*IDM

Question #3 (40 marks)

                                                                        Year 1                                      Year 2

Units produced                                               1,000                                       1,000

Units sold                                                           700                                       1,300

Total sales                                                       $7,000                                     $13,000

Total costs

            Production:

                        Variable                                  $2,000                                     $2,000

                        Fixed                                          1,800                                       1,800

            Selling and administration:

                        Variable                                  $   700                                     $1,300

                        Fixed                                          2,800                                       2,800

  • (For Year 1)

Required:

  • Prepare income statement using variable costing. (8 marks)
  • Prepare income statement using absorption costing (8 marks)
  • Reconcile the differences in income. (4 marks)
  • (For Year 2)

Required:

  • Prepare income statement using variable costing. (8 marks)
  • Prepare income statement using absorption costing (8 marks)
  • Reconcile the differences in income. (4 marks)

Question #4 (20 marks)

P3-72B

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