Question A1: Job Costing

New Zealand Institute of Chartered Accountants offers three core courses for its members in Auckland. Information regarding all three courses is presented in the table attached:

Required:

Please use the above information to answer questions 16 to 20

Question 162 pts

How much is the minimum tuition fee per student in first course based on current students numbers (using actual costing)?

Flag question: Question 17

Question 172 pts

How much is the minimum tuition fee per student in second course based on current students numbers (using actual costing)?

Flag question: Question 18

Question 182 pts

How much is the minimum tuition fee per student in third course based on current students numbers (using actual costing)?

Flag question: Question 19

Question 192 pts

Using the Adjusted Allocation Rate Approach for dealing with over/under applied overhead, how much is the total costs for the first course based on current students numbers?

Flag question: Question 20

Question 202 pts

Using the Adjusted Allocation Rate Approach for dealing with over/under applied overhead, how much is the total costs for second course based on current students numbers?

Table 2: Courses data \begin{tabular}{|l|r|r|r|} \hline & \multicolumn{1}{|c|}{ Core 1: Ethics and Business (Course 1) } & Core 2: Risk and Technology (Course 2) & Core 3: Financial Accounting and Reporting (FAR) (Course 3) \\ \hline Number of students in each course & 69 & 65 & 120 \\ \hline Lecturer salary per course & $13,094 & $14,764 & $17,887 \\ \hline Printed materials per student & $75 & $85 & $111 \\ \hline Occupancy costs per course & $13,435 & $20,683 & $15,721 \\ \hline Department overhead per course & $1,513 & $1,513 & $1,513 \\ \hline Room cleaning and electricity costs per course & $1,567 & $1,667 & $1,727 \\ \hline Marking cost per student & $78 & $78 & $85 \\ \hline \end{tabular} \begin{tabular}{|l|r|} \hline The budgeted number of faculty courses & 128 \\ \hline Budgeted faculty overhead costs & $178,688 \\ \hline The budgeted number of university courses & 1,420 \\ \hline Budgeted university overhead costs & $4,081,080 \\ \hline The actual number of faculty courses & 162 \\ \hline Actual faculty overhead costs & $550,800 \\ \hline The actual number of university courses & 1,480 \\ \hline Actual university overhead costs & $4,875,120 \\ \hline \end{tabular}