Applying Managerial Accounting Concepts to the Manufacturing Industry (100 points)

Complete the following questions using Microsoft Excel. No other submission format is allowed. Review the grading rubric to confirm you are meeting the assignment requirements. (All amounts in SAR except units.)

Given the above information for Johnson Corporation:

1. Create a list that identifies the total period costs.
2. Calculate overhead per unit based on machine hours.
3. Calculate the total product cost for units manufactured (“direct materials per unit”).
4. Calculate total cost of goods sold.
5. Prepare income statement in good form assuming no beginning inventory.

You must show all your work for credit.Required:

• Chapter 2 in Managerial Accounting
• Hill, M. S., Ruch, G. W., & Taylor, G. K. (2019). Research and development expense and analyst forecast errors: An underestimation of sales or overestimation of expenses? Journal of Accounting, Auditing & Finance, 34(4), 667–684. http://doi.org/10.1177/0148558X18799003

Recommended:

• Chapter 2 PowerPoint slides  SEU_ACT500_Module02_PPT_Ch02.pptx – Alternative Formats in Managerial Accounting
• ŁAZARCZYK, D. (2020). The role of costs’ knowledge in the contemporary enterprises. Ekonomia i Prawo, 19(4), 725–737. https://apcz.umk.pl/czasopisma/index.php/EiP/article/view/EiP.2020.047/27739