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Quiz 2 Cost Accounting

1) The document provides cost accounting information and questions for three companies: Alecks Company, Blazed Co., and Charles Company. 2) It lists various costs for each company and asks questions to calculate prime cost, conversion cost, total inventoriable/product cost, total period cost, variable overhead cost per machine hour, fixed overhead costs, and estimated overhead costs. 3) Ten questions are provided to analyze the cost information for each company and perform various cost accounting calculations.

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Rocel Domingo
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634 views1 page

Quiz 2 Cost Accounting

1) The document provides cost accounting information and questions for three companies: Alecks Company, Blazed Co., and Charles Company. 2) It lists various costs for each company and asks questions to calculate prime cost, conversion cost, total inventoriable/product cost, total period cost, variable overhead cost per machine hour, fixed overhead costs, and estimated overhead costs. 3) Ten questions are provided to analyze the cost information for each company and perform various cost accounting calculations.

Uploaded by

Rocel Domingo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Cost Accounting and Control

Quiz 2
NAME: _____________________________

INSTRUCTION: Read and analyze the problem carefully. You will write your answer in a paper. Double
rule your final answer.

The financial statements of Alecks Company included the following items:


Marketing costs P 160,000
Direct labor cost 245,000
Administrative cost 145,000
Direct material used 285,000
Fixed Factory overhead 175,000
Variable factory overhead costs 155,000
Compute for:
1. Prime cost
2. Conversion cost
3. Total inventoriable cost/product cost
4. Total period cost

Blazed Co. makes motorcycles. The management wants to estimate overhead costs to plan its
operations. A recent trade publication revealed that overhead costs tend to vary with machine hours.
To check this, they collected the following data for the past 12 months
Month No. Machine Hours Overhead Costs
1 175 P4,500
2 170 4,225
3 160 4,321
4 190 5,250
5 175 4,800
6 200 5,100
7 160 4,450
8 150 4,200
9 210 5,475
10 180 4,760
11 170 4,325
12 145 3,975

5. Using the high and low method, compute for the variable cost per machine hour
6. Using the high and low method, compute for the total fixed cost
7. If the plant is planning to operate at a level of 205 machine hours next period, what would be
the estimated overhead costs?

Charles Company had the following costs for the last quarter of 2020
Conversion cost P435,000
Direct materials 215,000
Manufacturing overhead 190,000
Selling and administrative expense 185,000

8. Compute for the prime cost of Charles Co?


9. How much is the total manufacturing cost of Charles Co?
10. Compute for the total period cost of Charles Co?

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