Cost Accounting Assignment | Homework Help Websites
February 12th, 2019
Assignment 2 Cost accounting
Last Date for Submission 16th February 2019
You are required to work in this assignment individually.
| Student Name | …………………………….. | Student ID | ……………… | CRN | ……… |
| Assignment | 2 | Marks | ……/10 Points | ||
| Course | Cost Accounting | Course Code | ACCT 301 | ||
| Uploading | End of week 5 | Submission | End week 6 | ||
| Date | Sat09/02/2019 | Date | Sat16/02/2019 | ||
Instructions:
- Students must include these details (Name, Student ID, CRN, Date of submission)
- Do NOT remove the questions in the answer papers. But write your answers below each question.
- Answer the ALL
- Assignments should be submitted in MS Word format
- Font should be Times New Roman with 14 points.
- You are required to work in this assignment individually.
- You should submit the assignment via the Blackboard.
- Students who submit assignments after deadline, will get ZERO.
- If you engaged in plagiarism, you will get ZERO marks in the assignment or course.
Question:
- Prepare the journal entries for the following: (4 Points)
- When raw materials are received,Give an example
- When raw materials are sent to the factory floor, Give an example
- When a job is completed, what happen to the cost, Give an example
- Overhead expenses ( salary) paid by cheque $ 5000
- Utilities (Indirect expenses) paid in cash $ 10000
- f) Salaries totaling $5,000 are accrued; 35% of these costs are direct labor, 40% are indirect labor and 25% are overhead expense. Prepare the journal entry.
- g) Overhead costs are allocated to work in process using an allocation rate of 150% of direct labor costs and 300% of overhead expenses.
Prepare the journal entry.(Give different examples- examples should not be same)
