Q1. Allocate the support department cost to operating department using Direct Method. The
information for the recent period is as follows:
Assignment 04 - ACCT 301
Q1. Explain the methods used to allocate Supporting department costs?
1. The direct method: it ignores the fact that support departments use each others
services. Each support departments costs are allocated only to operating depa
1. Name the definitions given below:
Cost Volume Profit
Technique that examines changes in profits in response to
changes in sales volumes, costs, and prices.
Q1.Explain Cost Accounting?
Cost Accounting includes Financial and non-Financial information, and is used for both
managerial and financial accounting.
To elaborate more; financial accounting prepares reports used by d
1. Prepare Journal Entries from the following information relating to Job Costing.
a) The material storeroom receives a shipment of direct and indirect materials that
cost $ 12,000.