Learning Goal: I’m working on a accounting exercise and need an explanation and answer to help me learn.
Biden Company Limited purchased the following articles in 2018:
1 Jan,2,000 units at ugx 1,000 each
6 Feb,1,300 units at ugx1,300 each
25 April3,000 units at ugx 1,450 each
Sales were made from the store as follows:
10 Jan800 units
15 Feb1,000 units
30 March600 units
30 April2,000 units
Total 25 marks
|Particulars||Totals||Mixing||Packaging||Repairs Department||Storage Department|
|Indirect material cost||305,000,000||95,000,000||20,000,000||150,000,000||40,000,000|
|No. of employees||200||100||50||25||25|
|Floor area occupied||1||3/10||4/10||1/10||2/10|
Required a) From the information above, determine the overhead costs for each department. (13 marks) Q.4 a) “Cost accounting is an unnecessary luxury for business establishments” Do you agree with the statement? Discuss (10 marks) b) Discuss the reasons why budgets may not achieve their intended objectives. (9 marks) c) Evaluate the possible financing options available to a company facing a cash deficit situation. (6 marks)
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