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M Acc Mid Assessment-B

This document contains 4 questions from a mid-term assessment for a Managerial Accounting course. Question 1 asks students to complete a partial schedule of total costs and costs per unit for a company over production ranges of 30,000 to 50,000 units. Question 2 asks students to prepare a schedule of cost of goods manufactured and cost of goods sold based on given inventory and cost information. Question 3 asks students to calculate manufacturing overhead given prime cost and direct material amounts. Question 4 provides sales and expense information for a company and asks students to prepare traditional and contribution format income statements.

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51 views2 pages

M Acc Mid Assessment-B

This document contains 4 questions from a mid-term assessment for a Managerial Accounting course. Question 1 asks students to complete a partial schedule of total costs and costs per unit for a company over production ranges of 30,000 to 50,000 units. Question 2 asks students to prepare a schedule of cost of goods manufactured and cost of goods sold based on given inventory and cost information. Question 3 asks students to calculate manufacturing overhead given prime cost and direct material amounts. Question 4 provides sales and expense information for a company and asks students to prepare traditional and contribution format income statements.

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© © All Rights Reserved
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AMERICAN INTERNATIONAL UNIVERSITY – BANGLADESH

Faculty of Business Administration


Department of Accounting
BBA Program
Managerial Accounting (Section- B )
Mid Assessment Summer: 2020 –
2021
Total Marks: 40 Faculty: Dr. Kamrul Hasan Time:
1.15 hour

Question-1: Harris Company manufactures and sells a single product. A partially completed
schedule of the company’s total costs and costs per unit over the relevant range of 30,000 to
50,000 units is given below:
[10]
Units Produced and Sold
30,000 40,000 50,000
Total costs:
Variable cost . . . . . . . . . . . $2,10,000 ? ?
Fixed cost . . . . . . . . . . . . .    4,00,000        ?              ?      
Total cost  . . . . . . . . . . . . . . $6,10,000        ?              ?      
Costs per unit:
Variable cost . . . . . . . . . . . ? ? ?
Fixed cost . . . . . . . . . . . . .          ?                ?              ?      
Total cost per unit . . . . . . . .        ?                ?              ?      
Required: Complete the above schedule of the company’s total costs and costs per unit. 2.
Assume that the company produces and sells 60,000 units during the year at a selling price
of $16 per unit. Prepare a contribution format income statement for the year

Question-2: opening raw mat inventory Tk 150, Purchase Tk 2000, Ending mat
inventory Tk 200, Direct labor Tk 4000, Manufacturing overhead Tk 9000, beginning
WIP Tk 2000, ending WIP Tk 1000, beginning Finished goods inventory 3000, Ending
Finished goods inventory 1,000. [10]

Requirements: Schedule of cost of goods manufactured (CGM) and Cost of Goods


Sold (CGS)

Question-3: XYZ Company's manufacturing overhead is 20% of its total Manufacturing


cost and Prime cost is 80% of TMC. If Prime cost is 1,20,000 and direct materials are
$50,000, the manufacturing overhead is??
[5]

Question – 4:
Pringle Company distributes a single product. The company’s sales and expenses for a recent month
as follows: [15]

Particulars Total (Tk) Per unit (Tk)


Sales 6,00,000 50
Variable Office expense --------- 5
Fixed office expense 80,000 ----
Variable selling expense ---- 8
Fixed selling 60,000 ----
Beginning inventory 50,000 ---
Purchase 50,000 ---
Ending inventory 20,000 ---

Requirements:
a. Prepare a Traditional format Income Statement
b. Prepare a Contribution format Income Statement

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