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Department of Business Studies HELP Bachelor of Business
(HONS) Year 1 ACC103 Management Accounting 2 ASSIGNMENT QUESTIONS 2 Semester 2, 2007 DUE DATE: 20 August 2007 Value : 15% 2 MANAGEMENT ACCOUNTING 2 (ACC103) ASSIGNMENT 2 (15%) DUE DATE : 20 AUG 2007 NO EXCUSES Instructions : Case study information : SEM 2, 2007 Note : Please submit a copy of your CD with your Excel file. Please take note that copying the work of others, allowing others to copy your work, and / or attempting to do any of the above mentioned will result in automatic failure of your assignment. FOR ACTS OF PLAGIARISM WILL BE ENTERTAINED. You may of course consult textbooks, journals, or any publications for reference purposes. All sources or materials used should be clearly quoted / referenced. Before submitting your assignment you shouldmake a copy and submit the original for assessment. Late submissions will not be entertained unless there is (are) some legitimate mitigating factor(s). (i) Based on the following case study information, build a spreadsheet model using Excel 97 to answer the accompanying problems. (ii) The spreadsheet model should include a “Data Input Section” (whereby all raw / original data from the case should be entered), “Additional Information Section” (whereby other relevant information for the individual problems should be entered) and an “Output Section” (whereby the final answers to each problem is presented). (iii) Program your spreadsheet to perform all necessary calculations. Do not “hard code” any amounts, use the addition, subtraction, multiplication, division operations or any other specialised formulas. (iv) Print a copy of the spreadsheet with the answers / results to the problems. (v) Print a copy of the spreadsheet showing the formulas used therein. QUESTION 1 (14 marks) 3 Right Moulds Ltd. manufactures a single product which passes through#p#分页标题#e# 2 departments, Moulding and Finishing. All work is commenced in Moulding, from which all output is immediately transferred to Finishing where additional materials are added when processing is 30% complete. In Finishing, conversion costs are incurred uniformly throughout the process. Overhead is allocated on the basis of 120% of direct labour cost. Work in process, 1 Aug (11,000 units, 90% complete), cost of which includes : Department - Finishing directmaterials $93,500 Department - Finishing direct labour $29,700 Department - Finishing overheads $? During the month of Aug, 92,000 units were completed and transferred to finished goods inventory. Units transferred in from Moulding were charged at $20.80 per unit. Finishing’s costs in Aug were : Direct labour $303,790 Overheads $? At the end of the month, 29,000 units were still in process in Finishing. These were estimated to be 25% complete. Prepare the Finishing production cost report for themonth of Aug 2007 using the FIFO method. (14 marks) TWJ Ltd. produces 2 types of modems, “Wind” and “Storm”. TWJ normally produces 12,500 units of Wind at a total direct material cost of $212,500 and 10,000 units of Storm at a total direct material costs of $280,000. Direct labour cost in 2007 is expected to be $7.80 per unit of Wind and $19.50 per unit of Storm. Other manufacturing costs are considered as overhead. The estimated total annual overhead for the year is $650,000. Department - Moulding costs $225,500 Materials added $708,750 Required : www.ukassignment.org QUESTION 2 (11marks) 4 W.J. To, the CEO is considering the use of activity-based costing (ABC) in order to refine the corporation’s costing system. The following information was obtained : Overhead includes : (Cost Driver) Total Costs ($) Wind (Total driver units) Storm (Total driver units) Quality control (No. of inspections) 115,000 20,000 inspections 37,500 inspections Rental (Space in m2) 210,000 15,000 m2 5,000 m2 Utilities (Machine hours) 325,000 17,500 MH 7,500MH Total 650,000 (a)Calculate the (assuming that the expected no. of units are produced) using the activity-based costing system. (6 marks) (b)Explain why overcosting and undercosting product occur with traditional costing systems. Why might individuals resist ABM and how could an organization overcome the resistance? (Word limit : 300). (5 marks)http://www.ukassignment.org/Accounting_Essay/ Polar Ltd. manufactures 2 joint products. Both products require additional processing beyond the split-off point. There were no#p#分页标题#e# opening inventories at 1 July 2007. The following information relates to themonth of Jan : Cool-Air Frost-Bite Production (units) 90,000 110,000 Sales (units) 71,500 84,800 Closing inventories (units) 18,500 25,200 Selling price per unit $20 $45 Additional processing costs $350,000 $600,000 Total joint processing costs for July were $1,180,000. Joint costs are allocated using the net realisable value method. The closing inventories are finished goods that are ready for sale. Required : total cost of each product QUESTION 3 (5marks) 5 Required : (a)Determine the cost of the ending inventories of each of the products as at 31 July 2007. (3 marks) (b)Cool-Air could be processed further into Chilly-Breeze for an additional cost of $8.00 per unit. Chilly-Breeze would sell for $33.00 per unit. Should the company produce Chilly-Breeze? (2 marks) |
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