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Cost
& Management Accounting
Jun
2025 Examination
PLEASE NOTE:
This assignment is application based, you have to apply what you have
learnt in this subject into real life scenario. You will find most of the
information through internet search and the remaining from your common sense.
None of the answers appear directly in the textbook chapters but are based on
the content in the chapter
Q1. ABC Manufacturing Ltd. produces a single product
and operates a factory where both direct labor costs and overhead costs are
incurred. The company provides the following data for February:
- Labour Costing Data: Total direct wages paid: Rs.50,000
Number of direct labor hours worked: 10,000 hours
Overtime premium included in wages: $2,000
Employer’s contribution to benefits (social security,
insurance, etc.): 10% of direct wages
- Overhead Costing Data: Total factory overhead costs: $40,000
Overheads are absorbed based on direct labor hours
Required:
1. Calculate the total direct labor cost, considering the
employer’s contribution.
2. Compute the direct labor cost per hour.
3. Determine the overhead absorption rate per labor hour.
4. If a job requires 50 labor hours, calculate the total labor
and overhead cost assigned to the job. (10
Marks)
Q2A. Elaborate on the implementation of a Just-in-Time
(JIT) inventory system impact the material cost control process in a
manufacturing company and explain its importance. (5 Marks)
Q2B. Analyze how the method of valuing
work-in-progress (prime cost vs. works cost) influences the final cost of goods
sold and the financial reporting of a manufacturing company. (5 Marks)
Dear Students,
Get fully solved assignments by professionals providing since 2012 — trusted by
over 10,000+ students!
100%
plagiarism-free or your money back!
Send
your queries to: help.mbaassignments@gmail.com
( Call/WhatsApp: +918263069601
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