Costing Simulation! Help please!
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I have a few questions about the simulation and i would be very grateful if anyone can help me out:
1. If holiday pay and sick pay is paid at basic hourly rate,Will they be treated as indirect wages?
2. Is Training treated as indirect wage?
3. Which side does Bank current account and Bank deposit account go in the trial balance? Debit or credit?
4. In the costing simulation there is a task about reapportionment between cost centres and For the supplying of vending machines it says that £3600 between 18 employees for 2005-2006,Each year this increases by 10% and our simulation is 2006-2007, It also says this will effect the total budgeted cost overhead.
This question looks tricky because it doesnt tell you exactly on what basis to apportion. Im thinking to add 10% to £3600 and then apportion using the total overhead figures given to each of the cost centres. WHat do you think?
Please help !!
1. If holiday pay and sick pay is paid at basic hourly rate,Will they be treated as indirect wages?
2. Is Training treated as indirect wage?
3. Which side does Bank current account and Bank deposit account go in the trial balance? Debit or credit?
4. In the costing simulation there is a task about reapportionment between cost centres and For the supplying of vending machines it says that £3600 between 18 employees for 2005-2006,Each year this increases by 10% and our simulation is 2006-2007, It also says this will effect the total budgeted cost overhead.
This question looks tricky because it doesnt tell you exactly on what basis to apportion. Im thinking to add 10% to £3600 and then apportion using the total overhead figures given to each of the cost centres. WHat do you think?
Please help !!
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Comments
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Re:Costing Simulation! Help please!
Hi,
I hope the following answers your questions:
1 & 2. Anything that is'nt counted as work such as training, holidays, sick pay e.t.c is counted as indirect costs UNLESS THE SIMULATION SAYS OTHERWISE
3. The bank account should really speak for itself in the trail balance, if the account is overdrawn then it is a credit and if there is a positive figure then it would be a debit.
4. My guess is that you add the 10% to the cost of the vending machine then apportion using number of employees for each department.
I hope this helps.
Te0 -
Re:Costing Simulation! Help please!
hey thanx alot. Can i help you in any way?0