|Student Name | | |Student ID | |
1. Read instructions carefully and complete your report
For Examiner’s Use Only
|Tasks |1 |
|Marks Allocated |100 |
|Marks Obtained | |
Total Marks: ______ / 100 marks = ________ %Grade:
Question I: Identification: Fill in the blanks the correct answer.
You are having a dress shop, indicate the proper classification of cost behavior whether it is VARIABLE or FIXED for each of the following items below:
|Cost Element |Cost Behavior | |Material used to make shirts | | |Depreciation of sewing machine | | |Buttons for shirt | | |Wages of workers who operate the sewing machine | | |Rent of the building | | |Annual fees for the business license | |
Question II: Problem Solving:Calculate the problem below.
| | |Using the following data, compute the following: | |1) Cost of Goods Manufactured (2 marks) | | |2) Cost of Goods Sold (2 marks) | | | | CROSSINGS COMPANY | | | | |Beginning Finished Goods Inventory | 18,450 | |Beginning Goods in PRocessInventory | 21,950 | |Beginning Raw Materials Inventory | 11,000 | |Rental Cost on Factory Equipment | 24,750 | |Direct Labor | 37,000 | |Ending Finished Goods Inventory | 15,300 | |Ending Goods in Process Inventory | 18,000 | |Ending Raw...