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Assignment (1)
Deadline: Saturday 04/10/2025 @ 23:59
Course Name: Cost Accounting
Student’s Name:
Course Code: ACCT 301
Student’s ID Number:
Semester: First
CRN:
Academic Year: 1447 H
(2025-26)
For Instructor’s Use only
Instructor’s Name:
Students’ Grade:
/15
Level of Marks: High/Middle/Low
Instructions – PLEASE READ THEM CAREFULLY
• 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.
College of Administration and Finance Sciences
Assignment Questions:
(Marks 15)
1. A company provided the following information regarding its units produced and
total cost incurred:
Units Produced
Total Cost (SAR)
5000
20,000
7400
27,200
Using Two-Point Method you are required to determine:
(2+2+1 Marks)
a) Variable Cost per unit
b) Total Fixed Cost
c) Cost Function
2. Bill’s Briefcases makes high quality cases for laptops that sell for $200. The
variable costs per briefcase are $80, and the total fixed costs are $360,000.
Currently bill’s salespersons have salaries totaling $80,000 (included in Fixed
Cost of $360,000) and earn a 10% commission on each unit ($20 per briefcase).
He is considering an alternative compensation arrangement where the salaries are
decreased to $30,000 and the commission is increased to 20% ($40 per briefcase).
You are required to:
(2+3 Marks)
A) Compute the Break Even Point in units under the proposed alternative.
b) Compute the volume of sales in units for which Bill is indifferent between
the two alternatives.
3. Prepare Journal Entries from the following information relating to Job Costing.
a) The material storeroom receives a shipment of direct and indirect materials
that cost $ 12,000.
b) Materials are sent to the stamping and assembly areas. The Cost of the direct
materials is $ 1,500 and the cost of the indirect materials is $ 900.
College of Administration and Finance Sciences
c) Wages totaling $ 2,000 are accrued; 70 % of these costs are direct labour and
30% are indirect labour.
d) Overhead costs are allocated to work in process using an allocation rate of
150% of direct labour costs.
e) Job No. 1205, with a total cost of $ 2,500 is completed.
(5 X1 Mark)
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