What are the various methods used to estimate cost functions

Assignment Help Accounting Basics

Reference no: EM133791165

Homework

I. Explain the role of accounting information in strategic management. How does accounting information assist in the formulation and implementation of organizational strategies? Support your answer by providing an example of one Saudi Company in this regard.
Note: Your answer must include a suitable example showing the role of accounting information in strategic management of an organization.

II. What do you mean by cost function and for what purpose does it serve for? What are the various methods used to estimate cost functions? Explain each method with suitable numerical examples.

III. TTL Corporation is in the manufacturer of several plastic products. TTL sells its one of the plastic product for SAR 500. The variable costs per unit are SAR 200, and the total fixed costs are SAR 510,000. Based on cost-volume profit analysis, calculate:

i. Contribution margin per unit and contribution margin ratio.
ii. Break-even point in units and sales SAR.
iii. Pretax profit if the company sells 2,200 units.
iv. Profit/loss if the company sells 1,500 units.
v. Units needed to reach target pretax profit of SAR 180,000.
vi. Sales SAR needed to reach the target pretax profit of SAR 180,000.

IV. "Job costing is a method of cost accounting used by companies to find out the cost of specific jobs or projects." Comment on this statement and examine how actual allocation rates and estimated allocation rates are analyzed by the companies? Support your answer with an example of one Saudi company that use job costing.

V. A company uses a process costing system for its sole processing department. There were 4,000 units in beginning WIP inventory for June and 36,000 units were started in June. The beginning WIP units were 60% complete and the 3,250 units in ending WIP were 40% complete. All materials are added at the start of processing.

i. Compute the no. of units started & completed.
ii. Compute the EUP for DM and CC using FIFO and WA methods.

Reference no: EM133791165

Questions Cloud

How do institutions respond to the activism in the film : What is the name of the protest/movement this film? When and where did it happen? How do institutions respond to the activism in the film?

Describe three activity statements related to content : Describe three activity statements related to content you have learned in this course that are part of the Test Plan, including examples from the course.

Create scope validation process : Create Scope Validation Process. Using cast of character from case study, prepare a process for validating the work packages and higher-level component for WBS.

Write a paper describing ways to add security tools : Write a paper describing ways to add security tools and appliances to the home network you designed for your sister in previous assignment to make it secure.

What are the various methods used to estimate cost functions : What do you mean by cost function and for what purpose does it serve for? What are the various methods used to estimate cost functions?

Describe the companys overall business model : Describe the company's overall business model and explain how it delivers value to the target markets and Assess how the business model supports

Explore the impact of professional standards : Explore the impact of professional standards, legislative issues, ethical principles, and values on professional nursing, using data to monitor outcomes

Share what you learned about counselling kelly : NURS 360- How did you feel in the role of the mental health counsellor during this simulation? Share what you learned about counselling Kelly.

Explain your findings in a report to the plant manager : Explain and summarize your findings in a report to the plant manager and make a recommendation as to how many shifts to plan in next year's budget.

User Account

All Pages