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BMAC 5203 Accounting for Decision Making

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Accounting for Decision Making (BMAC 5203)

   

Added on  2020-05-28

BMAC 5203 Accounting for Decision Making

   

Accounting for Decision Making (BMAC 5203)

   Added on 2020-05-28

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Running head: BMAC 5203 ACCOUNTING FOR DECISION MAKINGBMAC 5203 Accounting for Decision MakingName of the Student:Name of the University:Authors Note:
BMAC 5203 Accounting for Decision Making_1
BMAC 5203 ACCOUNTING FOR DECISION MAKING1Table of ContentsTask 1: Topic 9: Standard Costing and Variance Analysis........................................................21. Using the variance formula calculating direct material and labour variance, whileindicating favourable or unfavourable variance:........................................................................22. Discussing why the variances have occurred:........................................................................33. Explaining whether unfavourable variances should be investigated:....................................4Task 2: Topic 10: Responsibility Accounting............................................................................5Considering the key performance indicator in accordance with balance scorecard:.................5Task 3: Topic 6: Short-term Decision Making..........................................................................61. Depicting whether accepting the order will affect Newton’s operating income and statingwhether to accept the order or not:.............................................................................................62. Explaining whether the analysis is correct, as per accountants of Newtown’s:.....................7Reference and Bibliography:......................................................................................................8
BMAC 5203 Accounting for Decision Making_2
BMAC 5203 ACCOUNTING FOR DECISION MAKING2Task 1: Topic 9: Standard Costing and Variance Analysis1. Using the variance formula calculating direct material and labour variance, whileindicating favourable or unfavourable variance:ParticularsValueActual Usage 110,000.00 Standard price 10.00 Actual price 9.00 Material price Variance110,000*(10-9)Material price Variance (Favourable) 110,000.00 ParticularsValueStandard price 10.00 Standard quantity100000Actual quantity110000Material usage/quantity Variance10*(100,000-110,000)Material usage/quantity Variance (Unfavourable) (100,000.00)ParticularsValueActual hours worked 22,000.00 Standard rate per hour 9.00 Actual rate per hour 9.50 Labour rate Variance22,000*(9.00-9.50)Labour rate Variance (Unfavourable) (11,000.00)Particulars Value Standard rate per hour 9.00 Standard hours of actual output 26,000.00 Actual hours worked 22,000.00 Labour efficiency variance9.00*(26,000-22,000)
BMAC 5203 Accounting for Decision Making_3

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