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# COST ACCOUNTING 2016

## Chapter 2 - Costs Concepts and classification

Problem 1- Ram Corporation
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.

Direct materials
Direct materials
Direct labor
Direct materials

Problem 2
1.
2.
3.
4.
5.

Manufacturing 6. Manufacturing
Selling
Manufacturing 8. Selling

Problem 3-Rocco
Period Cost

Product Cost
Direct mat.

Selling
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.

Direct labor

Mfg. OH

DM
Factory rent
Direct labor
Factory utilities
Supervision
Depreciation-FE
Sales Commission
Depreciation-OE
Salary - pres.

220,000
50,000
180,000
8,500
60,000
20,000

## 1. TOTAL PRODUCT CST = 220,000 + 180,000 + 138,500

2. TOTAL PERIOD COST = 104,000 + 260,000
3. COST PER UNIT
= 538,500/ 40,000 units

57,000
47,000
10,000
250,000

= P 13,4625
Problem 4 Bug Company
1. Variable
Inventoriable
2. Variable
Inventoriable
3. Fixed
Inventoriable
4. Variable
Inventoriable
5. Variable
Inventoriable
Inventoriable

6. Variable
Period
7. Variable
Inventoriable
8. Variable
Period
9. Fixed
Period
10. Variable

a. P 50,000
b. P 50,000
c. P 60,000
500
d.

e.

f.

## P 50,000 + P 96,000 = P 146,000

g.

P 50,000/ 400

h.

P 50,000/500 = P 100

I,

P 50,000/800 = P

= P 125

62.50

j.

P 48,000/400 = P 120

k.

P 60,000/500 = P 120

l.

P 96,000/800 = P 120

m. P 125 + P 120

= P 245

n.

P 100 + P 120

= P 220

o.

= P 182.50

62.50 + P 120

1.
2.
3.
4.
5.
6.

DM
OH
OH
OH
DL
OH

8.
9.
10.
11.
12.
13,

OH
OH
DL
OH
OH
OH

7. OH

14. OH
15. DM

## Problem 7 Mother Goose Company

1. Prime costs

530,000

2. Conversion cost

575,000

3 Inventoriable cost

860,000

305,000

`

## 1. Direct materials used

Direct labor
Variable marketing
Total variable cost per unit
X No. of units produced and sold
Total variable costs per month
2. DM
DL
20.00
V manufacturing
Variable cost per unit produced
3. Total variable mfg. cost ( 67 x12,000)
Total fixed mfg,cost (6 x 12,000)
Total manufacturing cost
4. Mfg. cost/unit (876,000/12,000)

P 32.00
20.00
15.00
3.00
70.00
12,000
P 840,000
32.00

15.00
P

804,000
72,000
876.000
73.00

Problem 9
1. Direct materials
P 60.00
Direct labor
30.00
9.00
Total variable manufacturing cost per unit
P 99.00
`

67.00

P 99.00
6.00

105.00

3.

## Total variable manufacturing cost per unit

Full manufacturing cost per unit

P 99,00
25.00
124.00

4.

## Full manufacturing cost per unit

Full cost to make and sell per unit

124.00
6.00
20.00
150.00

=

6,000 -

3,000

21,000
3,000
=

High
P60,000

Less Variable
6,000 x 7
3,000 x 7

7.00/machine hr.

Low
P 39,000

42,000

21,000
Fixed cost

P 18,000

P 18,000

## 3. Total electricity cost = Fixed cost + Variable (capacity)

=
=

18,000 + 7(4,800)
51,600

## Problem 11 Johnson Corporation

1. Variable cost per machine hour =

35,600 20,000
4,000 - 2,000
= 7.80 per machine hour

2.
4,000 hours
2000 hours
Total electricity expense
35,600
20,000
Less: Variable costs
( 4,000 x 7.80)
31,200
( 2000 x 7.80)
______
15,600
Fixed cost
4,400
4,400

3.

Fixed cost
Variable cost ( 4,500 x 7.50)
Totl manufacturing costs

4,400
35,100
39,500

## Problem 12 Valdez Motors Co.

1.
Variable cost per machine hour = 5,475 3,975
210 - 145
= 23.08 per machine hour

Less: Variable costs
( 210 x 23.08)
( 145 x 23.08)
Fixed cost

2.

## 210 hours 145 hours

5,475

3,975

4,847
_____
628

Fixed cost
Variable cost (23,08 x 300)

3,347
628

628
6,924
7,552

## Problem 13 Marco Company

1. Direct materials
Direct labor
Factory supplies
24,000
Direct variable costs
1,324,000

Department A Department B
P 400,000
P
700,000
350,000
600,000
10,000
P

760,000

## 2. Controllable direct fixed costs

Supervisory salaries

45,000

55,000

## 3. Uncontrollable direct fixed costs:

Depreciation machinery and
Equipment

100,000

180,000

55,000
180,000
235,000

## 4. Controllable direct fixed cost

Uncontrollable direct fixed cost
Total direct fixed cost

45,000
100,000
145,000

760,000

235,000

P 1,324,000
145,000

1,559,000

## 6. Allocated costs from headquarters

Allocated repairs & maintenance
Allocated factory rent bldg.
Allocated plant executives salaries
Total indirect costs

## 7. Allocated costs from headquarters

Allocated factory rent bldg.
Allocated plant executives salaries
Depreciation- mach. & equipment
Total unavoidable costs

True/False Questions
1. False
6. True
2. False
7. False
3. True
8. True
4. False
9. False
5. False
10. True

905,000

120,000
40,000
60,000
140,000
360,000

120,000
60,000
140,000
100,000
420,000

1.
2.
3.
4.
5.

A
C
A
B
A

11.
12.
13.
14.

C
D
C
B
15. A
16. B
17. B
18. A
19. D
20. B
- Problems

6.
7.
8.
9.
10.

B
A
B
B
A

11. False
12. False
13. True
14. False
15. False

Multiple choice
1. D
2. C
3. B
4. C
5. D
6. A
7. D
8. D
9. B
10. C
Multiple choice

11.
12.

B
A

180,000
80,000
140,000
210,000
610,000
180,000
140,000
210,000
180,000
710,000

16. True
17. False
18. True
19. False
20. True