What are transferred-in costs and spoilage costs

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Reference no: EM133206144

Cost Accounting Assignment -

Q1. Calculate B.E.P. in units from the following Information:

(a) Sales $ 100,000, Variable Cost $, 50,000, Profit $, 20,000, Units Produced= 5000 units

(b) Fixed Cost $= 40,000, Selling price $= 80, Variable cost $= 40

Q2. Prepare Journal Entries from the following information relating to Job Costing.

a) The material storeroom receives a shipment of direct and indirect materials that cost $12,000.

b) Materials are sent to the stamping and assembly areas. The Cost of the direct materials is $1,500 and the cost of the indirect materials is $900.

c) Wages totalling $2,000 are accrued; 80% of these costs are direct labour and 20% are indirect labour.

d) Overhead costs are allocated to work in process using an allocation rate of 150% of direct labour costs.

e) Job No. 1205, with a total cost of $2,500 is completed.

f) Job No. 1205 is shipped to the customer, who is billed for $5,000.

Q3. In your own words, discuss how WA and FIFO calculate EUP. Give proper examples.

Q4. What are "Transferred-in costs" and Spoilage costs? And how they affect EUP calculations?

Reference no: EM133206144

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