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Please Solve As soon as Solve quickly I get you UPVOTE directly Thank's Abdul-Rahim Taysir Question #03: a) Opportunity cost is also called opportunity loss.
Please Solve As soon as Solve quickly I get you UPVOTE directly Thank's Abdul-Rahim Taysir
Question #03: a) "Opportunity cost is also called opportunity loss". Why? Explain with example. [02] b) What are the major elements of period costs in a manufacturing company? Explain them with examples. [02] c) The PC Works assembles custom computers from components supplied by various manufacturers. The company is very small and its assembly shop and retail sales store are housed in a single facility in a Redmond, Washington, industrial park. Listed below are some of the costs that are incurred at the company. 1. The cost of a hard drive installed in a computer, 2. The cost of advertising in the Puget Sound Computer User newspaper, 3. The wages of employees who assemble computers from components. 4. Sales commissions paid to the company's salespeople. 5. The salary of the assembly shop's supervisor. 6. The salary of the company's accountant. 7. Depreciation on equipment used to test assembled computers before release to customers. 8. Rent on the facility in the industrial park. Instruction: For each cost, indicate whether it would most likely be classified as direct materials, direct labor, manufacturing overhead, selling, or an administrative cost. [02] d) The following cost and inventory data are collected from the accounting records of ABC Company for the month ended October 31, 2019: Particulars Taka Particulars Taka Raw materials (01.10.19) 40,000 Depreciation on delivery van 9,000 Freight inwards 12,500 Direct labor 1,75,000 Power and fuel 60,000 Work managers' salary 30,000 Work in process (31.10.19) 10,000 Advertising expense 35,000 General expenses 12,500 Finished goods (31.10.19) 15,000 Bank charges 8,700 Indirect materials 9,500 Purchase of raw materials 4.25.000 Bad debts 15,000 Depreciation on plants 43,000 Purchase return 22,000 Factory rent & taxes 7,250 Sales for the month 8,50,000 Audit fees 11,000 Raw materials (31.10.19) 50,000 Finished goods (01.10.19) 6,000 Work in process (01.10.19) 15,000 Instruction: Prepare a cost sheet of ABC Company for the month ended October 31, 2019. [04]Step by Step Solution
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