Look around you and pick up an object. Name the object and answer all the following questions keeping in mind the production and costing of the object

Question1) Identify the main manufacturing costs of the object and with assumed values create a Statement of Cost of Goods Sold, clearly showing the Statement of Cost of Goods Manufactured for the object for one month

Question 2) Using assumed values, calculate the Order Point and Economic Order Quantity for any one of the raw materials used in the production Also calculate the total ordering and carrying costs

Question 3) Using assumed values and identifying them dearly prepare the four sets of journal entries to (a) record the payroll, (b) Pay the payroll, () Distribute the payroll and (d) recognize the payroll taxes applicable on the employer.

Question 4: Assume the values for the monthly Telephone bill for 6 months for the accompany and the corresponding number of call made. Using he high low method,of the total electricity bill calculate the fixed and variable portion

Question 5: Take a part of production of the chosen object and identity atleast 4 different activities undertaken during the production process. Choose an appropriate base for each activity and using assumed values, calculate the Pre-determined overhead rate for each activity. Also apply to calculate the total factory overhead for the product