ACCT 301 Saudi Electronic University Cost Accounting Worksheet

Content Type

User Generated

User

fubfu_z

Subject

Business Finance

Course

ACCT 301

School

Saudi electronic university

Department

ACCT

Description

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).

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College of Administrative and Financial Sciences Assignment 3 Deadline: 10/04/2021 @ 23:59 (End of week 12) Course Name: Cost accounting Student’s Name: Course Code: ACCT 301 Student’s ID Number: Semester: 1 CRN: Academic Year: 1441/1442 H For Instructor’s Use only Instructor’s Name: Students’ Grade: Marks Obtained / Out of Level of Marks: High/Middle/Low Instructions – PLEASE • 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 accethei‫ذ‬. Page 1 of 2 Q1 What are support departments, and why are their costs allocated to other departments? What process is used to allocate support department costs? (1.5 Marks, week 10 materials) Q2 How are joint costs allocated? Explain and analyze using numerical example. (1.5 Marks, week 11 materials) . Q 3 How are budget variances calculated and used as performance measures? Provide numerical example? (2 Marks, week 12 materials) Page 2 of 2
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Explanation & Answer:

3 Questions

Tags: cost accounting performance measures joint costs budget variances Support Departments

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Explanation & Answer

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1

Course Name: COST ACCOUNTING
Course Code: ACCT301
Semester: 1
Academic Year: 1441/1442 H

Name:
Student's ID Number:
CRN:

2

Outline
Question one ……..Page 3
Question two……..page 4-5
Question three…….page 6-7
References………….page 8

3

Question 1
Support departments also called service department is a cost center that helps internal,
operating departments. It is mainly associated with a manufacturing company, and some
examples are quality control and assurance, maintenance, purchasing and packaging department,
information technology, etc. (Balachandran, & Magee, 1987).
Support costs are allocated to other departments to spread costs with an aim of
minimizing risk of one department, to determine profitability at departments level, financial
reporting purposes and reasons to fund some more activities. There are three most uses processes
of al...