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Chapter 02 Assignment 01

The document is an assignment for a BS in Management Accounting course focused on cost accounting and control. It includes various problems requiring classification of costs, calculations related to manufacturing, and examples of different types of business organizations. Students are instructed to provide solutions and examples based on the given problems.

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Kyle Salavante Abong
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13 views2 pages

Chapter 02 Assignment 01

The document is an assignment for a BS in Management Accounting course focused on cost accounting and control. It includes various problems requiring classification of costs, calculations related to manufacturing, and examples of different types of business organizations. Students are instructed to provide solutions and examples based on the given problems.

Uploaded by

Kyle Salavante Abong
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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BS IN MANAGEMENT ACCOUNTING III-D

A.Y. 2024 – 2025, First Semester

ACTGCA 303 – COST ACCOUNTING AND CONTROL ASSIGNMENT # 01

Name: __________________________________________________

GENERAL INSTRUCTION: Write your answers on separate sheets of paper.

PROBLEM 01. Determine whether the following costs are classified as “PERIOD COST” or “PRODUCT COST”.

1. Production supervisor’s salary incurred by a manufacturer of office equipment.


2. Lease payments for the president’s automobile.
3. Property taxes paid on the factory facilities.
4. Lubricants purchased for the production equipment.
5. Executive salary of a multinational company.

PROBLEM 02. Determine whether the following costs are classified as “VARIABLE COST” or “FIXED COST”.

1. Straight-line depreciation on manufacturing equipment owned by Dell Computer.


2. Shipping charges incurred by Office Depot on out-going orders.
3. Speakers used in Sony home-theatre systems.
4. Insurance costs related to a Mary Kay Cosmetics’ manufacturing plant.
5. Property taxes paid by Del Monte on its pineapple plant.

PROBLEM 03. Determine whether the following costs are classified as “DIRECT COST” or “INDIRECT COST”.

1. Seats to be installed in a car.


2. Leather to make gloves.
3. Tape measure used by tailor.
4. Flour used in making bread.
5. Pineapple in a fruit cocktail.

PROBLEM 04. The following data have been taken from the accounting records of Laguna Corporation for the current year.

Sales P1,980,000
Selling expenses 280,000
Manufacturing overhead 460,000
Direct labor 400,000
Administrative expenses 300,000
Purchases of raw materials 240,000
Finished goods inventory, beginning 240,000
Finished goods inventory, ending 320,000
Raw materials inventory, beginning 80,000
Raw materials inventory, ending 140,000
Work in process, beginning 140,000
Work in process, ending 100,000

Required: Show your solutions.


1. What was the cost of the raw materials used in production during the year?
2. What was the cost of goods manufactured (finished) for the year?
3. What was the cost of goods sold for the year?
4. What was the net income for the year?

1
PROBLEM 05. Give one example for each of the following costs based on their classifications:

I. As to relation to a product
A. Manufacturing costs/product costs
1. Direct materials
2. Direct labor
3. Factory overhead
B. Non-manufacturing costs/period costs
1. Marketing or selling expense
2. General or administrative expense
II. As to variability
A. Variable costs
B. Fixed costs
C. Mixed costs
III. As to relation to manufacturing departments
A. Direct departmental charges
B. Indirect departmental charges
IV. As to their nature as common or joint
A. Common costs
B. Joint costs
V. As to relation to an accounting period
A. Capital expenditures
B. Revenue expenditures

PROBLEM 06. Give one example of a company here in the Philippines for each of the following types of business organizations and provide a brief
overview of the nature of its operations.

1. Merchandising Business
2. Manufacturing Business
3. Service Business

END

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