Assignment Question(s): (Marks 15) Q.1 Compute and complete the following table

Assignment Question(s): (Marks 15)
Q.1 Compute and complete the following table as per the value given in the box. (2 Marks)
Output
Total Fixed Cost
Total Variable Cost
Total Cost
200
300
150,000
400
20,000
500
600
Answer:
Output
Total Fixed Cost
Total Variable Cost
Total Cost
Q2. Briefly Explain with example in your words (2 marks)
1.Job Costing
2.ABC Costing
Answer:
Students’ answer may be different depending upon Explanation. (DON’T COPY THE ANSWER FROM OTHER STUDENT)
Q.3- Global MNCs manufactures sports items. The material used in for one sports item cost $ 45. The Global MNCs establish and rents a manufacturing factory for a monthly rent of $ 475. (3 Marks)
You are required to.
Prepare a table showing the Total Fixed Cost, Total Variable cost, Total Cost and Average Fixed Cost, Average Variable Cost, and Average Cost for three different levels of production.
(No. of units at three different levels can be chosen by you).
Every student should choose different level. Do not copy and paste the same unit/number.
Solution. This is just a model SOLUTION. Students’ answer may be different depending upon their assumption.
Level
TFC
TVC
TC
AFC
AVC
AC
Q. 4 -The total cost of production for the last six Months for Noor Bicycles is as follows.
Use the high-low method find out.
1. Variable cost per unit, 2. Fixed cost 3. Total cost, if production in the July will be 5000 units. (3 Marks)
Month
Units
Total Cost
January
3,560
$242,400
February
3,800
$252,000
March
4,000
$260,000
April
3,600
$244,000
May
3,200
$228,000
June
3,040
$221,600
Answer:
Q. 5 A few costs and measures of activity are listed below. (5 marks)
Required:
Fill the correct cost in the column mentioned below as per information which indicates whether the cost is Direct / Indirect /Fixed or Variable with respect to the possible measure of activity listed below. Cost Description
Possible measure of activity / cost object
Fixed or Variable cost / Direct / or Indirect cost
Cost of direct material used to make tables and chairs in the office
Units produced
Cost of COVID vaccine produced in the KSA
Vaccine production
Cement/ steel /sand/ other material use to build a house/office
Office or home
Electricity cost for lulu hypermarket for selling products or production /producer
Selling product to the people
Deprecation cost for lulu hypermarket on all kinds of fixed assets or any constructions
A particular location or hypermarket
Buying a photocopier for the production unit
For the office use
Paying any kind of incentive or commission for salesperson in MNCs Paying in SR or $
Paying salary to the driver at home for working on the monthly basis
Working for whole family
Internet and water bills paid for the warehouse on the accrual basis
Monthly accrual payment
Driver’s salary paid for the finished goods
Transporting to the market for the sale