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the answer will go through SafeAssign blackboard (no chat gbt )
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).
All number in Saudi riyal
Assignment Questions:Marks 15)
In August 2024, Ahmed Co. incurred total cost of SAR 29,000 and made 3,100 units. In November 2024, it produced 1,600 units with a total cost of SAR 20,000. (Mark1 x 5)
ABC Company Ltd. has provided the following information for the year ended December 31, 2023.(Mark 1 X 5)
Suppose budgeted overhead was SAR 120,000 fixed overhead plus variable overhead of SAR 12/DL hour. Expected DL hours were 60,000, so that the estimated overhead rate was SAR 14/DL hour. Actual DL hours totaled 50,000 for the year and actual overhead was SAR 740,000. At the end of the year, Work in Progress, Finished Goods & Cost of Goods Sold had the account balances shown below.
Requirement:
Find Per Unit Variable Cost
Find Total Variable Cost in the Month of August
Find Total Variable Cost in the Month of November
Find Total Fixed Cost
Determined Cost Function
SAR
Total Sales Revenue2,880,000
Total Variable Cost 1,080,000
Total Fixed Cost1,500,000
Units Produced and Sold 3,600
Determine the following from the above information:
Contribution Per Unit
Contribution Margin Ratio
Break Even Point in units
Break Even Point in Sales
Margin of Safety in Sales
Work in Progress
SAR150,000
Finished Goods
250,000
Cost of Goods Sold
1,600,000
2,000,000
Requirement:(1+2+2 Marks)
Prepare Overhead Cost Control Account
Assuming Misallocated Overhead as material, determine the ratio of the three accounts to close overhead cost control account
Prepare a Journal Entry to Close Overhead Cost Control Account
Answer -1
Answer – 2
Answer -3

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