2)     Analyze the below questions based on equivalent units concept:

a)     Suppose you have a work-study job in the office of your college’s president, and she asks you to compute the cost of instruction per full-time equivalent student at your college. The college’s vice president for finance provides the following information.

Costs:

                  Total cost of instruction                $9,000,000

Student population:

                 Full-time students                           900

                 Part-time students                          1,000

Part-time students take 60% of the classes of a full-time student during the year. 

b)     The Mixing Department’s output during the period consists of 20,000 units completed and transferred out, and 5,000 units in ending work in process 60% complete  to materials and conversions costs. Beginning inventory is 1,000 units, 40% complete  to materials and conversion costs. Calculate the equivalent units of production.

3)

a)     Discuss briefly the different forms of business organizations prevalent in the UAE.

b)     Illustrate the basic difference between Management & Financial Accounting.