College of Administrative and Financial Sciences
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
College of Administrative and Financial Sciences
Assignment 3
Deadline: 19.07.2021@ 23:59
Course Name: Cost accounting Students Name:
Course Code: ACCT 301 Students ID Number:
Semester: summer term CRN:
Academic Year:1442 H
For Instructors Use only
Instructors Name: Wadha Alrashidi
Students Grade: Marks Obtained/Out of 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 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.
1. Provide numerical examples of a Direct Material Budget for the second quarter (April to June) by considering a manufacturing company operating in Saudi Arabia as a sample study. (2marks)
Answer:-
Almarai, makes a juice that sells for SAR 68/unit. It expects to produce 5,000 units in April and 6,000 units in May and 7,000 unit in June. Almarai prefers to end each period with a direct materials inventory equal to 30% of the direct materials required for the next periods production.
Almarais product uses 0.2 pounds of direct material per unit, at a cost of SAR 5/lb. There were 500 lbs. of direct material on hand on April 1. Assume that budgeted production for July is 8,000 units.
The direct materials purchases and usage budget for the second quarter (April to June)
Notes:-
Beginning DM inventory of the month is desired ending DM inventory of last period.
Desired ending DM inventory of June = Required production in units of July * 0.2 * 30% = 8,000 * 0.2 * 30% = 480
Usage budget = Total DM required, in pounds * Budgeted DM cost per pound
2. XYZ Industries Co. decided to allocate Human Resource department costs based on the number of employees in each department and Information Technology costs based on the number of machine hours in each department. (2marks)
Required:
a) Give a numerical example for the four departments, given the table below, (the numerical information should be appropriate as per the table given as a reference.
Answer:-
b) Then based on your given information, use The Direct method to allocate support department costs.
Allocate cost:
Answer:-
Determining the percentage usage based on Number of employees:-
Hot Rolled Hollow Steel Department: 30 / 40 (30 + 10) = 75% of Human Resource department costs
Cold Rolled Hollow Steel Department: 10 / 40 (30 + 10) = 25% of Human Resource department costs
Determining the percentage usage based on Number of machine hours:-
Hot Rolled Hollow Steel Department: 100 / 500 (100 + 400) = 20% of Information Technology department costs
Cold Rolled Hollow Steel Department: 400 / 500 (100 + 400) = 80% of Information Technology department costs
Determining the allocated costs of Human Resource department to operating departments:-
Hot Rolled Hollow Steel Department: 310,000 * 75% = 232,500 of Human Resource department costs
Cold Rolled Hollow Steel Department: 310,000 * 75% = 77,500 of Human Resource department costs
Determining the allocated costs of Information Technology department to operating departments:-
Hot Rolled Hollow Steel Department: 169,000 * 20% = 33,800 of Information Technology department costs
Cold Rolled Hollow Steel Department: 169,000 * 80% = 135,200 of Information Technology department costs
Determining the total costs of operating departments after adding allocated costs from Support Departments:-
Hot Rolled Hollow Steel Department: 1,504,000 + 232,500 + 33,800 = 1,770,300
Cold Rolled Hollow Steel Department: 680,000 + 77,500 + 135,200 = 892,700
3. For what types of products is the physical output method appropriate? Give suitable and real example that should support your answer. ch9 (1mark)
Answer:-
Physical output method can be used only when joint products are measured the same way (e.g. pounds or feet).
The joint costs per batch of mud are as follows:
Assume that at the split-off point, there are the following quantities of products:
Using the physical units method, the total joint costs of 233,840 are allocated using the pounds of products at the split-off point.
Page 4 of 4
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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