Module Leader: Quaid Iqbal Module: Cost Accounting

Spring Semester 2021 Time: 09:00am to 12:00am

Online Assignment (30 Marks) Best Of Luck

Note: Write your Name and I.D on Answer sheets or your marks will be deducted

Q1: What is the purpose of cost accounting ?

Q2: How flow of information help in planning and controlling ?

Q3: What is the CGS statement important for a business ?

Q4: The record of the PEL refrigerators company show the following information for the three
months ended March 31 2021

Materials purchased 1,946,700

Inventories 1st January 2021
Finished goods (100 units) 43,000
Materials 268,000
Direct labour 2,125,800
FOH 764,000
Marketing expenses (all fixed) 516,000
General and administrative expenses (all fixed) 461,000
Sales (12,400 units) 6,634,000
Inventories March 31 2021
No unfinished work on hand
Finished goods (200 units) cost 395 each
Materials 167,000

Required:

1): An income statement for the period.

2): The number of units manufactured.

3): The unit cost of refrigerators manufactured.

4): The gross profit per unit sold.

5): The income per unit sold