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M Acc Mid Assessment-B
M Acc Mid Assessment-B
Question-1: Harris Company manufactures and sells a single product. A partially completed
schedule of the company’s total costs and costs per unit over the relevant range of 30,000 to
50,000 units is given below:
[10]
Units Produced and Sold
30,000 40,000 50,000
Total costs:
Variable cost . . . . . . . . . . . $2,10,000 ? ?
Fixed cost . . . . . . . . . . . . . 4,00,000 ? ?
Total cost . . . . . . . . . . . . . . $6,10,000 ? ?
Costs per unit:
Variable cost . . . . . . . . . . . ? ? ?
Fixed cost . . . . . . . . . . . . . ? ? ?
Total cost per unit . . . . . . . . ? ? ?
Required: Complete the above schedule of the company’s total costs and costs per unit. 2.
Assume that the company produces and sells 60,000 units during the year at a selling price
of $16 per unit. Prepare a contribution format income statement for the year
Question-2: opening raw mat inventory Tk 150, Purchase Tk 2000, Ending mat
inventory Tk 200, Direct labor Tk 4000, Manufacturing overhead Tk 9000, beginning
WIP Tk 2000, ending WIP Tk 1000, beginning Finished goods inventory 3000, Ending
Finished goods inventory 1,000. [10]
Question – 4:
Pringle Company distributes a single product. The company’s sales and expenses for a recent month
as follows: [15]
Requirements:
a. Prepare a Traditional format Income Statement
b. Prepare a Contribution format Income Statement