QUESTION 1 Job costing (20 marks)

A. Create a handwritten/manual solution AND a spreadsheet solution to the following problem. Follow the template provided. Play the Job Cost podcasts from Interact Resources and work through the example problem in those podcasts. The example problem in the podcasts is similar to the Obese problem. Create a spreadsheet solution showing the row and column headings and the formula view. Your report section should be completely formula driven. Scan or use your phone to copy and paste an image of your handwritten attempt into your assignment. If using a smart phone, consider using a free scanning app such as Camscanner, Office Lens or Google Drive or search for an app. Let us know which app you chose.

Design your spreadsheet to meet the assignment requirements. In particular, check the spreadsheet requirements and the Spreadsheet Advice PDF.

See your text for a similar example.

QUESTION 2 Process costing (15 marks)

Create a handwritten/manual solution AND a spreadsheet solution to the following problem. Scan or use your phone to capture an image and paste a copy of your manual solution in your assignment submission. Consider using a smart phone scanning app. Also paste a spreadsheet solution showing the row and column headings and the formula view. Your report should be completely formula driven.

Design your spreadsheet to meet the assignment requirements. In particular, check the spreadsheet requirements and the Spreadsheet Advice PDF.

See your text for examples.

QUESTION 3 Joint costing – decision making (15 marks)

Create a handwritten/manual solution AND a spreadsheet solution to the following problem. Scan or use your phone to capture an image and paste a copy of your manual solution in your assignment submission. Also paste a spreadsheet solution showing the row and column headings and the formula view. Your report should be completely formula driven.

Design your spreadsheet to meet the assignment requirements. In particular, check the spreadsheet requirements and the Spreadsheet Advice PDF.

See your text for examples.

Joint cost allocation: additional processing beyond split-off point

In a certain production process 100 000 kg of a single raw material were processed at a cost of \$350 000. At split-off two intermediate products, A and B emerged, weighed as 60 000 kg of A and 40 000 kg of B. A was processed further at a cost of \$45 000 to produce C, and B was processed further at a cost of \$25 000 to produce D. C sold for \$4.50 per kg.

Required:

• If A was allocated \$187 500 of the joint production costs under the net realisable value method, what was the selling price of D?
• Suppose the firm receives an offer to buy all of product A for \$2 per kg at the split-off point. Would the firm be better off selling A or processing further to produce C? By how much?

Question 4 Variance analysis (20 marks)

Create a handwritten/manual solution AND a spreadsheet solution to the following problem. Scan or use your phone to capture an image and paste a copy of your manual solution in your assignment submission. Also paste a spreadsheet solution showing the row and column headings and the formula view. Your report should be completely formula driven.

Design your spreadsheet to meet the assignment requirements. In particular, check the spreadsheet requirements and the Spreadsheet Advice PDF.

The problem is adapted from P7-13 in your text page 202.

Required:

Calculate the materials price variance (on purchase) and materials usage variance. What is the actual direct labour rate per hour?

Answer the requirements using both a manual and spreadsheet solution. In your spreadsheet, include the IF function to determine Favourable and Unfavourable variances.

QUESTION 5 Budgeting (20 marks)

Create a handwritten/manual solution AND a spreadsheet solution to the following problem. Scan or use your phone to capture an image and paste a copy of your manual solution in your assignment submission. Also paste a spreadsheet solution showing the row and column headings and the formula view. Your report should be completely formula driven.

Design your spreadsheet to meet the assignment requirements. In particular, check the spreadsheet requirements and the Spreadsheet Advice PDF.

Budget (10 marks)

Please read the above questions carefully before making payment. Solution is available only for the questions mentioned above.

Solution is available only in excel sheet. There is no handwritten solution available. Sheet with FV refers to the Formula View.

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