Question 1 (Total 25 marks) Foxes Conn Technology Ple Lid. consists of two production departments (Assembly and Machining) and two service departments (Maintenance and Store). The estimated overhead costs for each of the departments and the cost drivers for the two production departments are as follows: It has been estimated that each service department does work for other cost centres in the following proportions: Required: (Show all workings clearly and round all solutions to 2 decimal places) (a) Calculate the total overhead costs for the Machining and Assembly departments after the re-apportionmont of the costs from the service departments. (15 marks) (b) Calculate the department overhead rates for the Machining and Assembly departments using the appropriate bases. (5 marks) (c) With the overhead rates calculated in (b), compute the total overhead cost of a unit that uses 5 machine hours in the Machining Department and 3 direct labour hours in the Assembly Department. (5 marks) QUESTION 2 (Total 25 marks) Total Storage Pte Ltd commenced operations on 1 January 2022, and is in the business of producing portable external storage devices. Data for the year ended 31 December 2022 is as follows Required: (a) Compute the cost of a single unit of product under BOTH the absorption costing and variable costing approaches (8 marks) (b) Prepare a contribution margin format income statement for the year using variable costing. (8 marks) (c) Compute the income using absorption costing approach, without oreparing an income statement (4 marks) (d) What would be the company/s finished goods inventory cost as at 31 December 2022 under (i) variable costing (ii) absorption costing (5 marks) QUESTION.3 [Tetal 30 marks] Production and cost data for the month of July for Process X of the Asia Packaging Company is as foliows: The company uses the weightod-average cost metiod in is process costing system. Required: (Round your answers to 3 decimal places.) (a) Calculate the equivalent units of production for malerals and conversion costs for February. (8 marks) (b) Calculate the cost per equivalent unt for maturials and conversion costs. (8 marks) (c) Determine the cost of units translemed out of Process X during the month. (7 marks) (d) Determine the cost of ending work in process inventory in the department (7marks) QUFSTION 4 (Total 20 marks) You are the general manager of TriploD Umited, a company producing precision parts for commercial printers. It is approaching the end of the fnancial year, and the following information has been planned for the new financial year: The company plans to sell 880,000 of the 30 precision pats during the year, It has been two months into the new financial yeac, and the company is increasingly facing difficulties in meeting obligations. Management decided to exercise tighter control over its cash, and has tasked you, the management accountant newly recruled after graduation from a local university to draft the monthly cash budget for the new year. The following inlormation has been gathered for the neat few months: Sales are made 40% for cash and 60% on act tunt. From experience, the compary has learned that a montr's sales on account are colected actonding to the following patiern. The company requires a minimum cass balance of 54,000 to start a month. Required: (a) Prepare a production budget in units tor the new financial year. (5 marks) (b) Prepare the budgeted cash recepts for Jure. (6 marks) Assume the followina budaeted data for June Using this data, along with your answer to part (b) above, prepare a cash budget for June. Clearly show any borrowing needed during the month. The company can borrow in any dolar amount, but will not pay ary interest until the following moneh. (9 marks) Kap Licking Pizza was incorporated in 2015, and is in the business of producing frozen pizzas for retailing in the major supermarket chains like Cold Storage and NTUC. During the startup phase, the company had been incurring operating losses until in 2022, the first year that the company broke-even. Data gathered over the last 3 years were analyzed and used to make the following projections for the new financial year: The estimated fixed costs for the new financial year are $46,800. The company has been growing steadily since it was started in 2015. A recent market analysis done revealed that the ready-to-eat segment of the Food and Beverage industry will experience significant growth in the longer-term with more nuclear families and both parents concurrently working. At the same time, the tightening of supply of the domestic workers from the neighbouring region will further spur the growth of this segment. As a result, the company would the to step up its sales and marketing effort to achieve a target profit $500,000. In this regard, the company has made a marketing budget of $150,000. Required: (a) Determine the breakeven point (in units) in the above sales max. (5 marks) (b) Based on your calculation in part (a), determine the breakeven points in units for the 12 pirza and the 16 pizza. (4 marks) (c) Determine the breakeven points in units (12 pizza and 16 pizza) if the company wishes to achieve its target profit of $500,000 (net of the marketing budget of $150,000)