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Jammy Joo plc has identified the following overhead costs and cost drivers for next year: Overhead Item Expected Cost Cost Driver Expected Quantity Setup costs
Jammy Joo plc has identified the following overhead costs and cost drivers for next year: Overhead Item Expected Cost Cost Driver Expected Quantity Setup costs Number of setups Ordering costs Number of orders Maintenance Machine hours Power Kilowatt hours The following are two of the jobs completed during the year: Job X Job Y Direct materials Direct labour Units completed Direct labour hours Number of setups Number of orders Machine hours Kilowatt hours Jammy Joo plc s normal activity is direct labour hours. Answer the following MCQ questions using the above information: Using traditional costing systems, what are the product costs to be assigned to Job X None of the above What is the overhead unit cost to be applied to Job X What is the total overhead to be assigned to Job X What is the total unit cost for Job X What is the unit cost for Job Y None of the above Related to part B of the question, what is the cost per set up Related to part B of the question, what is the cost per order? Related to part B of the question, what is the cost per machine hour? Related to part B of the question, what is the cost per kilowatt hour? Using Activity Based Costing systems, what are the product costs to be assigned to Job X None of the above The total cost for Job X using Activity Based Costing is The unit cost for Job X using Activity Based Costing is The total cost for Job Y using Activity Based Costing is The unit cost for Job Y using Activity Based Costing is Which method produces the more accurate cost assignment and why? Briefly discuss your reasons.
Jammy Joo plc has identified the following overhead costs and cost drivers for next year:
Overhead Item Expected Cost Cost Driver Expected Quantity
Setup costs Number of setups
Ordering costs Number of orders
Maintenance Machine hours
Power Kilowatt hours
The following are two of the jobs completed during the year:
Job X Job Y
Direct materials
Direct labour
Units completed
Direct labour hours
Number of setups
Number of orders
Machine hours
Kilowatt hours
Jammy Joo plc s normal activity is direct labour hours.
Answer the following MCQ questions using the above information:
Using traditional costing systems, what are the product costs to be assigned to Job X
None of the above
What is the overhead unit cost to be applied to Job X
What is the total overhead to be assigned to Job X
What is the total unit cost for Job X
What is the unit cost for Job Y
None of the above
Related to part B of the question, what is the cost per set up
Related to part B of the question, what is the cost per order?
Related to part B of the question, what is the cost per machine hour?
Related to part B of the question, what is the cost per kilowatt hour?
Using Activity Based Costing systems, what are the product costs to be assigned to Job X
None of the above
The total cost for Job X using Activity Based Costing is
The unit cost for Job X using Activity Based Costing is
The total cost for Job Y using Activity Based Costing is
The unit cost for Job Y using Activity Based Costing is
Which method produces the more accurate cost assignment and why? Briefly discuss your reasons.
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