Exam (elaborations)
MAC2601 ASSESSMENT 3 2024
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ASSESSMENT 03 MAC 2601
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STUDENT NO.67938604UNIQUE NUMBER:767231
MODULE: MAC2601
ASSESSMENT 3
FIRST SEMESTER
DUE DATE: 24 APRIL 2024
QUESTION1
1. b
2. c
3. b
4. a
5. b
6. c
7. d
8. a
9. a
10. b
QUESTION 2
(a) Budgeted fixed Manufacturing overheads per machine hour = R4245000/37500 = R113.20 per hour
Budgeted fixed Manufacturing overheads = R900000+R810000+R1440000+R540000+R555000= R4245000
Budgeted Machine hours = (690 x30 hours) +(840 X20
=20700 +16800
=37500 hours
Applied Fixed Manufacturing overheads ( R113.20 X20000 hrs) R2264000
Actual Fixed Manufacturing overheads R3000000
Under-recovery R736000
"I agree
b that ABC costing method is more accurate than traditional costing because it uses relevant cost drivers for each overhead instead of arbitrary allocation
( C ) Total budgeted Manufacturing costs per Twin bed (TWB)
Direct material R 1,500,240.00
Direct Labour R 1,200,360.00
Production Overheads R 2,004,172.00
Assembling (24/47 x 900000 ) R 459,574.00
Quality inspections (720/1755 x 555000)
R 227,692.00
Stores receuvng (170/280 x 810000 ) R 491,786.00
Machining (16800/37500 x 1440000 ) R 645,120.00
Stores issuing (250/750 x 540000 ) R 180,000.00
Total Manufacturing Costs R 4,704,772.00
Number of units 840
Manufacturict cost per TWB (4704772/840
R ) 5,600.92
Calculations
Productions runs
BB (690/30) = 23
TWB (840/35 ) = 24
47
2 Number of inspections
BB (23X45) 1035
TWB (24 X30) 720
1755
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