Cost Management Assignment

1355 Words6 Pages
aCost Management Assignment Semester 1 2011 Table of content Detail: Pages Introduction 1 Q.NO.1 2 Q.No.2 3 Q.No.3 4 Q.No.4 5 Q.No.5 6 Q.No.6 7 Summary: 8 Introduction Cost Management delivers concise articles, experienced-based columns and case studies to evaluate how your present investment justification criteria and methods compare with those of other organizations, Learn about changing cost management methods and techniques and how they can be used to improve your company’s decision making in this assignment we going to workout calculate and try to find out different costs of company. In this assignment we going to calculate manufacturing overhead, product cost, period cost, cost of good manufactured and…show more content…
Hiring personnel - facility level 2. Managing parts inventory - product level 3. Purchasing - batch level 4. Testing prototypes - product level 5. Designing products - product level 6. Setting up equipment - batch level 7. Training employees - facility level 8. Inspecting machined parts - batch level 9. Machining - unit level 10. Assembling - unit level ------------------------------------------------- QUESTION 5 ANSWER William Manufacturing Company Molding Department: Production cost Report, June 2008 Quantities | (a)Physicals Units | (b)Materials Total | Conversion Costs | Total | Units to be accounted for: | | | | | Work in Progess July 1 | 0 | | | | Started in to Production | 20000 | | | | Total Units | 20000 | | | | Units accounted for: | | | | | Transferred out | 18000 | 18000 | 18000 | | Work in Progress July 31 | 2000 | 2000 | 1200 | (2000*60%) | Total units | 20000 | 20000 | 19200 | | | | | | | Units costs: | | | | | Costs | | \$198000 | 163200 | \$361,200 | Equivalent Units | | 20000 | 19200 | | Units costs (c) | | \$9.9 | \$8.5 | \$18.40 | Cost to be accounted for: | | | | | Work in progress 1 July | | | | 0 | Started in Production | | | | \$361,200 | Cost Reconciliation Schedule: | | | | | Cost accounted for: | | | | |